Home Business NewsTech News Apple’s market value hits $700bn. It's now worth wealth of world's 17 richest people combined

Apple’s market value hits $700bn. It's now worth wealth of world's 17 richest people combined

by LLB Editor
26th Nov 14 12:08 pm

In 1997, Apple was going bankrupt.

When asked what Apple should do, Michael Dell, CEO of Dell, said: “What would I do? I’d shut it down and give the money back to the shareholders.”

Well, eat you heart out Michael, because the iPhone-maker’s market capitalisation now stands at a record $701.7bn.

On Tuesday morning, shares in the company touched $119.75.

The mind-boggling valuation is thanks to bumper iPhone 6 sales. Apple sold more than 10 million iPhone 6 phones in the first weekend of its launch.

Now, Apple is worth more than the GDP of the top 19 countries of the world. To comprehend just how big Apple has become, check out these crazy comparisons:

1. Apple is worth more than the wealth of the world’s 17 richest people combined

Bill Gates

That’s right: wealth piles of Bill Gates + 16 wealthiest people in the world > Apple


2. Apple is valued at 107 times more than the 13 most expensive homes in the world combined

Crowds in front of Buckingham Palace in London wave flags as Queen Elizabeth II makes an appearance on the balcony for her Diamond Jubilee celebrations

The world’s most expensive homes are together worth a whopping $6.57bn. That’s peanuts in front of Apple.


3. Apple is worth more than Russia’s stock market


Russia’s stock market – that’s the value of all Russian public companies – is $531bn. Apple is worth over $169bn more than that.


4. Apple’s market cap is almost nine times the value of the global coffee industry


Yep, don’t choke on your coffee but Apple is worth *much more* than the $81bn global coffee industry.


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