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Ranked: The Top 100 Brands by Value in 2023

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Ranked: The Top 100 Brands by Value in 2023

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Ranked: The Top 100 Brands by Value in 2023

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Brand value can be a critical part of any company’s intangible assets.

These kind of non-physical assets, such as patents and brand names, are having an increasing influence on a company’s overall value. A 2020 analysis found that intangibles made up 90% of the S&P 500’s market value, an increase of 22 percentage points since 1995.

This graphic shows the world’s 100 most valuable brands in 2023 based on an annual ranking from Brand Finance, illustrating the role brand equity plays in a company’s market position.

The Top 100 Companies, by Brand Value

Brand Finance examined over 5,000 companies (and in cases of groups like Alphabet and Meta, their subsidiary brands) across 38 countries.

Broadly speaking, a brand’s value represents the allocation of company earnings that are linked to the brand. More details on the methodology are found at the end of this article.

Here are the most valuable brands in 2023:

RankBrandBrand Value (B)CountrySector
1Amazon$299.3U.S.Retail
2Apple$297.5U.S.Tech
3Google$281.4U.S.Media
4Microsoft$191.6U.S.Tech
5Walmart$113.8U.S.Retail
6Samsung Group$99.7South KoreaTech
7ICBC$69.5ChinaBanking
8Verizon$67.4U.S.Telecoms
9Tesla$66.2U.S.Automobiles
10TikTok/Douyin$65.7ChinaMedia
11Deutsche Telekom$62.9GermanyTelecoms
12China Construction
Bank
$62.7ChinaBanking
13Home Depot$61.1U.S.Retail
14Facebook$59.0U.S.Media
15State Grid$58.8ChinaUtilities
16Mercedes-Benz$58.8GermanyAutomobiles
17Agricultural Bank
Of China
$57.7ChinaBanking
18Starbucks$53.4U.S.Restaurants
19Toyota$52.5JapanAutomobiles
20WeChat$50.2ChinaMedia
21Moutai$49.7ChinaSpirits
22AT&T$49.6U.S.Telecoms
23Disney$49.5U.S.Media
24Allianz Group$48.4GermanyInsurance
25Shell$48.2UKOil & Gas
26Instagram$47.4U.S.Media
27Bank of China$47.3ChinaBanking
28Costco$46.6U.S.Retail
29Aramco$45.2Saudi ArabiaOil & Gas
30Ping An$44.7ChinaInsurance
31Huawei$44.3ChinaTech
32China Mobile$43.4ChinaTelecoms
33BMW$40.4GermanyAutomobiles
34accenture$39.9U.S.Tech
35Oracle$39.6U.S.Tech
36Bank of America$38.6U.S.Banking
37Tencent$38.1ChinaMedia
38UnitedHealthcare$37.1U.S.Healthcare
Services
39McDonald's$36.9U.S.Restaurants
40Porsche$36.8GermanyAutomobiles
41NTT Group$36.6JapanTelecoms
42UPS$35.4U.S.Logistics
43Mitsubishi Group$35.0JapanAutomobiles
44Marlboro$34.7U.S.Tobacco
45Deloitte$34.5U.S.Commercial
Services
46American Express$34.1U.S.Commercial
Services
47Volkswagen$34.0GermanyAutomobiles
48Coca-Cola$33.5U.S.Soft Drinks
49Wells Fargo$33.0U.S.Banking
50CSCEC$31.9ChinaEngineering
& Construction
51J.P. Morgan$31.8U.S.Banking
52Lowe's$31.6U.S.Retail
53Chase$31.3U.S.Banking
54Nike$31.3U.S.Apparel
55Mitsui$30.7JapanEngineering
& Construction
56CVS$30.6U.S.Retail
57Citi$30.6U.S.Banking
58Taobao$30.5ChinaRetail
59Wuliangye$30.3ChinaSpirits
60YouTube$29.7U.S.Media
61PetroChina$29.6ChinaOil & Gas
62VISA$29.6U.S.Commercial
Services
63FedEx$28.9U.S.Logistics
64Xfinity$28.8U.S.Telecoms
65Target$27.6U.S.Retail
66Tmall$27.4ChinaRetail
67Hyundai Group$27.3South KoreaAutomobiles
68Sinopec$27.1ChinaOil & Gas
69Tata Group$26.4IndiaEngineering
& Construction
70Louis Vuitton$26.3FranceApparel
71IBM$26.2U.S.Tech
72EY$25.7UKCommercial
Services
73PWC$25.3U.S.Commercial
Services
74Mastercard$24.8U.S.Commercial
Services
75China Merchants
Bank
$24.5ChinaBanking
76Honda$24.2JapanAutomobiles
77Netflix$24.2U.S.Media
78Cisco$23.9U.S.Tech
79Sumitomo Group$23.9JapanTrading Houses
80Spectrum$23.3U.S.Telecoms
81Uber$23.3U.S.Mobility
82Intel$22.9U.S.Tech
83Dell Technologies$22.6U.S.Tech
84SK Group$22.5South KoreaTelecoms
85Nestlé$22.4SwitzerlandFood
86Ford$22.3U.S.Automobiles
87TSMC$21.6TaiwanTech
88Walgreens$21.6U.S.Retail
89Siemens Group$ 21.4GermanyEngineering
& Construction
90LG Group$21.3South KoreaTech
91SAP$21.1GermanyTech
92TotalEnergies$20.7FranceOil & Gas
93TD$20.4CanadaBanking
94Optum$20.1U.S.Healthcare
Services
95Elevance Health
(formerly Anthem)
$19.9U.S.Healthcare
Services
96HSBC$19.9UKBanking
97CREC$19.8ChinaEngineering
& Construction
98CHANEL$19.4FranceApparel
99General Electric$19.3U.S.Engineering
& Construction
100Salesforce$19.1U.S.Tech

Amazon ranks number one globally with its brand valued at $299 billion. As a market leader in online retail, it has strong brand loyalty in its B2C segment which generates its largest share of revenue, and is a key player in cloud services for its B2B platforms.

Apple is in close second with a $298 billion brand. It’s important to note that both tech giants brands fell in value from last year, as supply chain disruptions, labor market constraints, and slower forecasted revenue impacted their brands.

Other big tech brands Google (#3) and Microsoft (#4) were next in the ranking. Korean conglomerate Samsung (#6) was the highest-ranking firm based outside of America.

Brand Value: Leading Sectors in 2023

Looking at brand value based on sector, we can see that tech continues to dominate. The sector breakdown below uses data from the top 500 brands covered by Brand Finance.

RankSector% of TotalTotal Brand Value (B)
1Tech19.4%$891.2
2Retail 15.0%$690.0
3Media14.0%$645.2
4Banking10.2%$467.4
5Automobiles8.6%$397.3
6Telecoms7.3%$334.6
7Commercial Services3.8%$174.0
8Oil & Gas3.7%$171.0
9Engineering & Construction3.3%$149.5
10Insurance2.0%$93.0
11Restaurants2.0%$90.3
12Spirits1.7%$80.0
13Healthcare Services1.7%$77.1
14Apparel1.7%$77.0
15Logistics1.4%$64.3
16Utilities1.3%$58.8
17Tobacco0.8%$34.7
18Soft Drinks0.7%$33.5
19Trading Houses0.5%$23.9
20Mobility0.5%$23.3
21Food0.5%$22.4

Overall, the top tech brands were worth a combined $891 billion largely thanks to the outsized influence of Apple, Microsoft, and Samsung.

After retail and media, the banking sector still held significant brand sway at $467 billion. Automobiles rounded out the top five sectors at $397 billion, led by companies like Tesla and Mercedes-Benz.

The Fastest Rising Brands in 2023

While some brands such as Apple and Amazon fell in value over the last year, others have increased their brand value.

Below, we show the fastest rising brands across the top 500 around the world:

RankNameBrand Value % Change (2022-2023)
1BYD57%
2ConocoPhillips56%
3Maersk53%
4LinkedIn49%
5Christian Dior46%
6Tesla44%
7ADP44%
8United Airlines42%
9Instagram42%
10Equinor40%

BYD, a leading electric vehicle (EV) firm in China, jumped the sharpest. Focused on budget EVs and backed by Warren Buffett, it has become a growing competitor to Tesla, and is the second-largest producer of lithium-ion batteries globally.

Energy firm ConocoPhillips saw the second-largest gain in brand value, driven by its focus on energy transition fuels, cutting production emissions, and lowering supply costs.

Following a series of difficult years for the airline industry, United Airline’s brand value increased 42% as travel demand accelerated.

As the economic landscape continues to shift, the value of these brands will shift as well.

Where does this data come from?

Source: Brand Finance Global 500 Report

Important note: The values shown above are brand value calculations as opposed to market capitalization. See below for more details.

How is brand value calculated? Generally speaking, the methodology for calculating “brand value” is a formula that is as follows:

Brand Strength (BSI) x Brand Royalty Rate x Brand Revenues = Brand Value

Brand Strength Index (BSI) looks at brand investment, brand equity, and brand performance. The brand royalty rate is determined based on sector. Lastly, forecast brand-specific revenues are determined based on the proportion of parent company revenues attributable to the brand in question. Brand value itself is discounted to net present value.

We recommend visiting page 83 of the report to view the full explanation of the methodology.

 

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Mining

Ranked: The World’s Top Diamond Mining Countries, by Carats and Value

Who are the leaders in rough diamond production and how much is their diamond output worth?

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A cropped chart showing the leaders in rough diamond mining and how much their diamond output is worth.

Ranked: World Diamond Mining By Country, Carat, and Value

Only 22 countries in the world engage in rough diamond production—also known as uncut, raw or natural diamonds—mining for them from deposits within their territories.

This chart, by Sam Parker illustrates the leaders in rough diamond production by weight and value. It uses data from Kimberly Process (an international certification organization) along with estimates by Dr. Ashok Damarupurshad, a precious metals and diamond specialist in South Africa.

Rough Diamond Production, By Weight

Russia takes the top spot as the world’s largest rough diamond producer, mining close to 42 million carats in 2022, well ahead of its peers.

ℹ️ Carat is the unit of measurement for the physical weight of diamonds. One carat equals 0.200 grams, which means it takes over 2,265 carats to equal 1 pound.

Russia’s large lead over second-place Botswana (24.8 million carats) and third-ranked Canada (16.2 million carats) indicates that the country’s diamond production is circumventing sanctions due to the difficulties in tracing a diamond’s origin.

Here’s a quick breakdown of rough diamond production in the world.

RankCountryRough Diamond
Production (Carats)
1🇷🇺 Russia41,923,910
2🇧🇼 Botswana24,752,967
3🇨🇦 Canada16,249,218
4🇨🇩 DRC9,908,998
5🇿🇦 South Africa9,660,233
6🇦🇴 Angola8,763,309
7🇿🇼 Zimbabwe4,461,450
8🇳🇦 Namibia2,054,227
9🇱🇸 Lesotho727,737
10🇸🇱 Sierra Leone688,970
11🇹🇿 Tanzania375,533
12🇧🇷 Brazil158,420
13🇬🇳 Guinea128,771
14🇨🇫 Central
African Republic
118,044
15🇬🇾 Guyana83,382
16🇬🇭 Ghana82,500
17🇱🇷 Liberia52,165
18🇨🇮 Cote D'Ivoire3,904
19🇨🇬 Republic of Congo3,534
20🇨🇲 Cameroon2,431
21🇻🇪 Venezuela1,665
22🇲🇱 Mali92
Total120,201,460

Note: South Africa’s figures are estimated.

As with most other resources, (oil, gold, uranium), rough diamond production is distributed unequally. The top 10 rough diamond producing countries by weight account for 99.2% of all rough diamonds mined in 2022.

Diamond Mining, by Country

However, higher carat mined doesn’t necessarily mean better value for the diamond. Other factors like the cut, color, and clarity also influence a diamond’s value.

Here’s a quick breakdown of diamond production by value (USD) in 2022.

RankCountryRough Diamond
Value (USD)
1🇧🇼 Botswana$4,975M
2🇷🇺 Russia$3,553M
3🇦🇴 Angola$1,965M
4🇨🇦 Canada$1,877M
5🇿🇦 South Africa$1,538M
6🇳🇦 Namibia$1,234M
7🇿🇼 Zimbabwe$424M
8🇱🇸 Lesotho$314M
9🇸🇱 Sierra Leone$143M
10🇹🇿 Tanzania$110M
11🇨🇩 DRC$65M
12🇧🇷 Brazil$30M
13🇱🇷 Liberia$18M
14🇨🇫 Central
African Republic
$15M
15🇬🇾 Guyana$14M
16🇬🇳 Guinea$6M
17🇬🇭 Ghana$3M
18🇨🇲 Cameroon$0.25M
19🇨🇬 Republic of Congo$0.20M
20🇨🇮 Cote D'Ivoire$0.16M
21🇻🇪 Venezuela$0.10M
22🇲🇱 Mali$0.06M
Total$16,290M

Note: South Africa’s figures are estimated. Furthermore, numbers have been rounded and may not sum to the total.

Thus, even though Botswana only produced 59% of Russia’s diamond weight in 2022, it had a trade value of nearly $5 billion, approximately 1.5 times higher than Russia’s for the same year.

Another example is Angola, which is ranked 6th in diamond production, but 3rd in diamond value.

Both countries (as well as South Africa, Canada, and Namibia) produce gem-quality rough diamonds versus countries like Russia and the DRC whose diamonds are produced mainly for industrial use.

Which Regions Produce the Most Diamonds in 2022?

Unsurprisingly, Africa is the largest rough diamond producing region, accounting for 51% of output by weight, and 66% by value.

RankRegionShare of Rough
Diamond Production (%)
Share of Rough
Diamond Value (%)
1Africa51.4%66.4%
2Europe34.9%32.9%
3North America13.5%52.8%
4South America0.2%2.4%

However diamond mining in Africa is a relatively recent phenomenon, fewer than 200 years old. Diamonds had been discovered—and prized—as far back as 2,000 years ago in India, later on spreading west to Egyptian pharaohs and the Roman Empire.

By the start of the 20th century, diamond production on a large scale took off: first in South Africa, and decades later in other African countries. In fact between 1889–1959, Africa produced 98% of the world’s diamonds.

And in the latter half of the 20th century, the term blood diamond evolved from diamonds mined in African conflict zones used to finance insurgency or crime.

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