Amazon has regained its position as the most valuable brand in the world, according to the annual Brand Finance Global 500 rating, despite losing $51 billion this year, or 15% of its worth.
Despite a challenging year for the technology industry, the e-commerce giant Amazon managed to unseat Apple as the owner of the title of the most valuable brand in the world.
When looking at the top industries, technology has maintained its position as the most valuable in the world, with a total brand value of at least $1.2 trillion, or almost 15% of the entire value of the rankings.
Other technology businesses, in addition to Amazon and Apple, also saw a decrease in value during this time period.
Despite a difficult year for the technology industry as a whole, Amazon, Apple, and Google rounded out the top three most valuable brands in the world.
Since the beginning of the Covid-19 pandemic, the value of Amazon’s brand has increased by 36% due to the fact that it has become a prominent player across a variety of industries.
The value of the Tesla brand increased by 44%, reaching $66.2 billion.
Google maintained its ranking as third despite a 7% rise in brand value, which brought the company’s total to $281.4 billion.
Since the beginning of the year, Apple’s market value has decreased by 16%, going from $355.1 billion to $297.5 billion.
Over the course of the previous year, the value of Amazon dropped from $350.3 billion to $299.3 billion.
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