These Were the 5 Biggest Companies in 1989, and Here Are the 5 Biggest Companies Now
Japanese banks were riding high thanks to an asset bubble in the country that lasted until 1991.
The top five most valuable companies today are all tech giants.
10 stocks we like better than Nvidia ›
A lot has changed in the world since 1989. In that year, Seinfeld and The Simpsons had just premiered, while Nintendo launched the Game Boy. Taylor Swift hadn't even been born yet.
The world's most valuable companies also looked a lot different back then, with four of the world's five largest public companies being Japanese banks. ExxonMobil (then just "Exxon"), rounded off the list:
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »
Company Market Cap
Industrial Bank of Japan $104.3 billion
Sumitomo Bank $73.3 billion
Fuji Bank $69.4 billion
Dai-Ichi Kangyo Bank $60.0 billion
Exxon $63.8 billion
Data source: Statista.
A large reason Japanese banks were valued so highly back then was the Japanese asset price bubble that lasted from 1986 to 1991. Today, the tide has shifted, and it's large tech stocks dominating the list.
Data source: CompaniesMarketCap.
Aside from the industry shift, what stands out is just how much these tech companies are worth compared to their 1989 counterparts. Even adjusted for inflation, the Industrial Bank of Japan's market cap increases to approximately $270 billion in today's dollars -- Nvidia is worth over 15 times that much. Part of the reason for this difference has to do with how long these tech companies have been in the market, allowing their valuations to grow over time. Another part is investors are rewarding future growth and market dominance over what many may consider fundamentals (for better or worse).
Tech stocks will likely dominate the "most valued companies" list for quite some time. The only non-tech companies to crack the top 10 as of this writing are state-owned energy company Saudi Aramco and Berkshire Hathaway.
Should you invest $1,000 in Nvidia right now?
Before you buy stock in Nvidia, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Nvidia wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $624,823!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,064,820!*
Now, it's worth noting Stock Advisor's total average return is 1,019% — a market-crushing outperformance compared to 178% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor.
See the 10 stocks »
*Stock Advisor returns as of August 4, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CTV News
40 minutes ago
- CTV News
Japan tech giant SoftBank Group sees better fortunes on surging AI stocks
The logo of Japanese mobile provider SoftBank is seen at its shop in Tokyo on June 14, 2018. (AP Photo/Shuji Kajiyama) TOKYO — Japanese technology conglomerate SoftBank Group Corp. posted a 421.8 billion yen (US$2.9 billion) profit in the April-June quarter, rebounding from a loss a year earlier as its investments benefited from the craze for artificial intelligence. Quarterly sales at Tokyo-based SoftBank Group, which invests heavily in AI companies like Nvidia and Open AI, rose 7% to 1.8 trillion yen ($12 billion), the company said Thursday. SoftBank's loss in April-June 2024 was 174 billion yen. The company's fortunes tend to fluctuate because it invests in a range of ventures through its Vision Funds, a move that carries risks. The group's founder Masayoshi Son has emphasized that he sees a vibrant future in AI. SoftBank has also invested in Arm Holdings and Taiwan Semiconductor Manufacturing Co. Both companies, which produce computer chips, have benefitted from the growth of AI. 'The era is definitely AI, and we are focused on AI,' SoftBank senior executive Yoshimitsu Goto told reporters. 'An investment company goes through its ups and downs, but we are recently seeing steady growth.' Some of SoftBank's other investments also have paid off big. An example is Coupang, an e-commerce company known as the 'Amazon of South Korea,' because it started out in Seoul. Coupang now operates in the U.S. and other Asian nations. Goto said preparations for an IPO for PayPay, a kind of cashless payment system, were going well. The company has already held IPOs for Chime, a U.S. 'neobank' that provides banking services for low-credit consumers, and for Etoro, a personal investment platform. SoftBank Group stock, which has risen from a year ago, finished 1.3% higher on the Tokyo Stock Exchange after its earnings results were announced. ___ Yuri Kageyama, The Associated Press
CTV News
an hour ago
- CTV News
World shares mostly climb after a rally for Apple leads Wall Street higher
A currency trader smiles near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Thursday, Aug. 7, 2025. (AP Photo/Ahn Young-joon) MANILA, Philippines — World shares mostly advanced and financial markets appeared to show scant if any reaction to President Donald Trump's higher tariffs on exports to the United States that took effect early Thursday. In early European trading, Germany's DAX rose 0.9% to 24,137.51. In Paris, the CAC 40 added 0.8% to 7,693.36, while Britain's FTSE 100 shed 0.3% to 9,138.96. The future for S&P 500 edged 0.5% higher while that for Dow Jones Industrial Average added 0.3%. In Asian trading, Japan's benchmark Nikkei 225 added 0.7% to 41,059.15. Hong Kong's Hang Seng climbed 0.7% to 25,081.63, and the Shanghai Composite added 0.2% to 3,639.67. China reported that its exports picked up in July, helped by a flurry of shipments by businesses taking advantage of a pause in Trump's tariff war with Beijing. South Korea's Kospi rose 0.9% to 3,227.68, while the S&P/ASX 200 in Australia shed 0.1% to 8,831.40. India's Sensex gave up 0.8% after Trump ordered tariffs on imports from the world's most populous nation to rise to 50%, citing its crude oil imports from Russia. Trump also declared 100% tariffs on computer chips with an exemption for U.S. investments. Apple's shares rose 5.1% on Wednesday ahead of a White House event where it announced an increase to its U.S. investments of an additional $100 billion over the next four years. Mizuho Bank, in a commentary, said the Trump's exemption from 100% tariffs on semiconductors for those with investments in U.S. production means some U.S. trading partners may be able to use their investments in the U.S. as a bargaining chip. Taiwan's Taiex jumped 2.4% as shares in market heavyweight Taiwan Semiconductor Manufacturing Corp. surged 4.9%. TSMC is the world's largest contract maker of computer chips and it has been ramping up its investments in U.S. factory capacity, helping to alleviate the impact from higher tariffs. South Korean chipmakers also saw strong gains, with Samsung Electronics jumping 2.5% after the government said its products would also be subject to the exemption. On Wednesday, a rally for Apple led Wall Street higher, with U.S. stocks reclaiming more of their sharp losses from last week. The S&P 500 rose 0.7% and the Dow added 0.2%. The Nasdaq composite climbed 1.2%. Apple alone accounted for more than a third of the S&P 500's gain. Trading elsewhere on Wall Street was mixed following a jumble of profit reports. McDonald's and Shopify rose following their latest updates, while Super Micro Computer tumbled after its earnings and revenue came in below analysts' expectations. The Walt Disney Co. fell after its earnings beat forecasts but its revenue fell short Worries are still high that Trump's tariffs may be hurting the economy, but hopes for coming cuts to interest rates by the Federal Reserve and a parade of stronger-than-expected profit reports from U.S. companies have helped steady the market. In other dealings early Thursday, benchmark U.S. crude gained 19 cents to $64.54 a barrel. Brent crude, the international standard, added 25 cents to $67.14 a barrel. The U.S. dollar slipped to 147.10 Japanese yen from 147.36 yen. The euro cost $1.1678 up from $1.1661. Teresa Cerojano, The Associated Press
Winnipeg Free Press
2 hours ago
- Winnipeg Free Press
Japan tech giant SoftBank Group sees better fortunes on surging AI stocks
TOKYO (AP) — Japanese technology conglomerate SoftBank Group Corp. posted a 421.8 billion yen ($2.9 billion) profit in the April-June quarter, rebounding from a loss a year earlier as its investments benefited from the craze for artificial intelligence. Quarterly sales at Tokyo-based SoftBank Group, which invests heavily in AI companies like Nvidia and Open AI, rose 7% to 1.8 trillion yen ($12 billion), the company said Thursday. SoftBank's loss in April-June 2024 was 174 billion yen. The company's fortunes tend to fluctuate because it invests in a range of ventures through its Vision Funds, a move that carries risks. The group's founder Masayoshi Son has emphasized that he sees a vibrant future in AI. SoftBank has also invested in Arm Holdings and Taiwan Semiconductor Manufacturing Co. Both companies, which produce computer chips, have benefitted from the growth of AI. 'The era is definitely AI, and we are focused on AI,' SoftBank senior executive Yoshimitsu Goto he told reporters. 'An investment company goes through its ups and downs, but we are recently seeing steady growth.' Monday Mornings The latest local business news and a lookahead to the coming week. Some of SoftBank's other investments also have paid off big. An example is Coupang, an e-commerce company known as the 'Amazon of South Korea,' because it started out in Seoul. Coupang now operates in the U.S. and other Asian nations. Goto said preparations for an IPO for PayPay, a kind of cashless payment system, were going well. The company has already held IPOs for Chime, a U.S. 'neobank' that provides banking services for low-credit consumers, and for Etoro, a personal investment platform. ___ Yuri Kageyama on Threads:
