From global corporations to companies that operate exclusively in China, can you guess what the world's most valuable brands are in 2024?
Valuation and research company Brand Finance, which has valued over 5,000 leading brands for its annual Global 500 index, has the answers.
Based on data from its latest report, we've compiled a list of the 30 most valuable brands in 2024. Read on to find out which Midas-touch tech giant has regained the number one spot, and discover how much the brands are really worth...
All dollar amounts in US dollars. Brand valuations correct as of the report's publication in January 2024.
Silicon Valley chipmaker NVIDIA has seen the value of its brand skyrocket from $16.9 billion (£13.3bn) to $44.5 billion (£35bn) over the past 12 months. The phenomenal 163% increase has propelled it into the top 30, marking a massive leap from its 117th position in 2022.
Now the world's fastest-growing company, its stratospheric rise is largely thanks to the booming AI industry, with NVIDIA a crucial and highly regarded supplier of semiconductors for myriad AI-driven technologies. Expect it to climb even further up these rankings next year.
Disney is beloved around the globe, although the brand has taken an undeniable battering in recent years.
Reputational damage has come thick and fast, with issues ranging from its "woke" war with Florida governor Ron DeSantis to Disney+ subscriber woes, not to mention box office turkeys, flagging attendance numbers at Disney World, and investor revolts.
The value of the Disney brand has fallen from $49.5 billion (£39bn) to $46.7 billion (£36.7bn) over the last year, and it's slipped six spots in the rankings as a result. That said, it's still some way off its worst-ever performance – back in 2012, it sunk to position 49.
One of only three European names in the US-dominated top 30, German insurance and financial services conglomerate Allianz Group has also slumped in the rankings. The brand has fallen four places this year, while its value has decreased by 3% to $46.9 billion (£36.9bn).
Allianz's good name was tarnished last July when its US subsidiary was ordered by a New York court to pay around $6 billion (£4.7bn) after pleading guilty to a massive multi-year securities fraud, losing investors billions of dollars.
UnitedHealthcare has moved an impressive nine spots up the rankings this year, overtaking Allianz Group to become the world's most valuable insurance brand. It's now worth $47.6 billion (£37.4bn), around $10 billion (£7.9bn) more than last year.
The US healthcare behemoth reported a revenue increase of almost 15% last year, with patients flocking to its services. Other factors shoring up the brand's value include UnitedHealthcare's innovations in 24/7 virtual healthcare and AI medicine.
One of just three bricks-and-mortar retailers in the top 30, Costco has built a customer-focused brand that inspires an almost cult-like following.
The American membership-only big-box chain goes the extra mile for its members and continues to expand its offerings, with super-affordable healthcare one of its most recent launches.
The value of the Costco brand has increased to $48.4 billion (£38.1bn), around 3% up on last year's figure, and the brand now sits two spots higher in the rankings as a result.
As household names in the US go, few have the kind of recognition AT&T enjoys. However, the past year hasn't been all that kind to the brand, and it's dropped three places in the latest Global 500 rankings.
Last summer, AT&T stock fell to a 30-year low amid accusations the telecoms colossus and other major industry names, including Verizon, had contaminated American land and waterways with toxic lead cabling. Now standing at $49.3 billion (£38.8bn), AT&T's value is several hundred million dollars down on last year's figure.
Despite being China's leading liquor maker, Moutai is little known outside the People's Republic. It holds iconic status at home thanks to its ultra high-end signature baiju spirit, a popular status-symbol drink that retails for around $200 (£157) per bottle.
Despite buoyant sales, however, the brand's value has risen modestly over the past 12 months – from $49.7 billion (£39.1bn) to $50.1 billion (£39.4bn) – and it's down three spots in the rankings.
This might have something to do with a price hike in November, not to mention Moutai's collaborations with Luckin Coffee and the Mars chocolate brand Dove. While the partnerships have helped Moutai reach a younger audience, they've also been seen by some as cheapening the brand. Indeed, the drinks firm has opted against similar partnerships in the future.
Shell is the UK's most valuable brand, according to Brand Finance. Over the past year, the energy company's value has increased by $2.1 billion (£1.7bn) to $50.3 billion (£39.6bn), and it's risen two spots in the latest index.
This boost can primarily be traced to Russia's war in Ukraine, which has increased the need for non-Russian energy providers and caused the price of oil and natural gas to spike. The result? Record profits for Shell, though this has come with much criticism, with many slating the brand for profiteering from the crisis.
Other potential headwinds include rising concerns that the company isn't doing enough to achieve carbon-neutral status.
One of the nation's "Big Four" state-owned banks, Bank of China is the oldest, most diversified, and most global financial institution in the People's Republic.
The bank's brand value has risen by almost 7% over the past 12 months, and it's now worth $50.5 billion (£39.7bn), meaning the Bank of China has risen five places up the rankings.
At the end of last year, China's central bank injected a large sum of money into the country's leading banks in a bid to pep up the spluttering economy, and new bank loans hit a record high in January.
Toyota maintained its position as the world's number one automaker in 2023. However, the value of its brand barely increased from $52.5 billion (£41.3bn) to $52.7 billion (£41.4bn), and Toyota has fallen two spots in the Global 500 rankings.
The Japanese conglomerate has been rocked by a series of scandals involving three of its group companies: one was found to have forged emissions data, while the other two were discovered to have falsified safety and certification tests.
The misconduct, which has eroded Toyota's reputation for safety and dependability, prompted Chairman Akio Toyoda to bow in apology (pictured) at a press conference in late January.
Home Depot remains the world's second-most valuable retail brand. However, its value, which stands at an estimated $52.8 billion (£41.5bn), has dipped by almost $10 billion (£7.9bn) since January 2023, and the company has dived seven places down the Global 500 rankings.
Bernie Marcus, the billionaire co-founder of the US big-box home improvement chain, said in November that he would probably help to bankroll Donald Trump's 2024 presidential bid – even if the former POTUS is convicted.
Marcus's steadfast support threatens to alienate a significant segment of Home Depot's customer base and there's even been talk of a boycott, with the brand suffering accordingly.
The AI boom is a major plus for Oracle, which has climbed 16 spots up the rankings this year. It's now worth $53.1 billion (£41.8bn), which marks a year-on-year increase of around 34% from January 2023.
The Texan cloud tech leader, which is well on its way to becoming a trillion-dollar company, has bold plans to reinvent itself as "the Netflix of AI" by bringing the best AI software and hardware to the Oracle Cloud infrastructure.
Tesla has plummeted nine places down this year's Global 500 rankings, meaning it's dropped out of the top 10 and is no longer the world's most valuable auto brand.
The American EV manufacturer's current worth amounts to $58.3 billion (£45.8bn), down from $66.2 billion (£52.1bn) 12 months ago.
Fierce competition at home and elsewhere, including China, is eroding Tesla's market share. The often questionable conduct of its controversial CEO Elon Musk also poses a serious risk to the firm, according to Brand Finance. Over the past year, Musk has been accused of antisemitism, misogyny, and silencing journalists.
Mercedes-Benz may have overtaken Tesla to become the world's most valuable car brand, but it's slipped one place down the rankings. Its value has increased, albeit modestly; the German brand is currently worth $59.4 billion (£46.7bn), compared to $58.8 billion (£46.2bn) last January.
The premium carmaker has long exuded luxury and prestige, which, together with its commitment to safety, innovation, and customer satisfaction, make for a formidable global brand.
Another one of China's "Big Four" banks, the Agricultural Bank of China has moved up one spot to position 16. The brand is now valued at $60.4 billion (£47.5bn), up from $57.7 billion (£45.4bn) last year, an increase of nearly 5%.
The recent government stimulus has helped to strengthen the bank's finances and overall reputation, hence the increases in the brand's value and ranking.
Officially the world's most valuable restaurant brand for the eighth year running, Starbucks is now worth $60.7 billion (£47.7bn), up from $53.4 billion (£42bn) in January 2023. It's also risen three places in the Global 500 index, commanding its highest-ever position in the rankings.
The US coffee chain launched its ambitious Reinvention plan in 2022 and hasn't looked back since. The multi-year project involves sprucing up existing stores, launching exciting products and new store concepts, improving its Reward scheme, and expanding the digital customer experience, all of which are helping to push up the value of the business.
While the China Construction Bank might have dropped two spots on the latest Global 500 index, it's still seen its value increase from $62.7 billion (£49.3bn) to $65.6 billion (£51.6bn) over the past year.
China's largest mortgage lender, the "Big Four" stalwart is more associated with the country's ailing property sector than other banks, yet it's managing to weather the storm thanks to bountiful government support.
Instagram has soared up the rankings this year, rising from 26th place to 13th. The value of the Meta-owned brand has shot up from $47.4 billion (£37.3bn) to $70.4 billion (£55.4bn), an increase of around 49%.
The video and photo-sharing app has attracted vehement criticism for its alleged failure to protect minors, as well as for allowing political ads that question the 2020 US presidential election. Thankfully, Meta appears to be addressing these concerns by introducing additional safeguards for teens, ceasing recommending political content and labelling political ads that use AI imagery.
Despite the controversies, the app's revenue surged in 2023 and it's poised to reach over 2.5 billion users by the end of the first quarter of 2024.
The world's most valuable utilities brand, State Grid Corporation of China has climbed three positions in the rankings. It's now worth $71.1 billion (£55.9bn), compared to $58.8 billion (£46.2bn) last year.
The firm supplies electricity to around 80% of China and has a growing international presence, with operations and investments in the Philippines, Brazil, Australia, Italy, and more.
Shaping up to be a leader in global renewables, the corporation is spending enormously on clean energy infrastructure, with expenditure at record levels in 2023.
Verizon's brand value has increased from $67.4 billion (£53bn) to $71.8 billion (£56.5bn) over the past 12 months, though the company has still slipped three spots down the rankings. That means it's dropped out of the Global 500 top 10 and has officially lost its crown as the world's most valuable telecoms brand.
As we've already mentioned, Verizon was implicated in the toxic lead cable scandal that surfaced last summer. The resulting furore has likely been a drag on the brand's value, as well as Verizon's reputation and share price, which, like AT&T's, plunged to 10-year lows in the wake of the controversy.
ICBC remains the most valuable bank brand in the world. That said, while its value has increased since last January, it's not seen the dramatic boost the other "Big Four" Chinese banks have experienced. ICBC is now worth $71.8 billion (£56.5bn) compared to $69.5 billion (£54.7bn) a year ago and has dropped three spots in the rankings.
While the ICBC brand is a force to be reckoned with, it certainly isn't invincible. A major cyberattack that affected the bank's US operations last year is likely to have had an impact on its value.
Deutsche Telekom remains Europe's most valuable brand and is now the world's most valuable telecoms brand to boot, rising three spots in the Global 500 rankings to enter the top 10 and overtake Verizon. The German firm's brand value has increased 17% to $73.3 billion (£57.6bn) over the past year.
As noted by Brand Finance, the corporation has been boosted by Deutsche Telekom's successful fibre deployment in Europe and 5G leadership in the US, along with factors such as improved customer satisfaction.
Brand Finance has praised the company's ability to deliver a consistent international brand strategy, which has been invigorated by the introduction of the company's new global slogan, "Connecting your world".
Facebook was dethroned as the world's most valuable social media brand at the start of last year.
This followed the annus horribilis that was 2022, which saw a decrease across the social platform's user numbers, ad revenues, and company share price – not to mention mass layoffs, metaverse woes, a lack of interest from crucial Gen Z users, and various other hurricane-force headwinds. Facebook's value dived, and it dropped to 14th place in the 2023 edition of the Global 500 index.
Fast-forward a year and it's a different story, with Facebook firmly back in the top 10. The brand's value is up 26% at $75.7 billion (£59.5bn). Ad revenue and active user growth have rebounded, Mark Zuckerberg's image has improved, and Meta has promised to address safeguarding issues and controversies over political advertising.
China's ByteDance has taken the planet by storm with its TikTok short-form video app after cornering the domestic market with its Chinese counterpart, Douyin.
TikTok/Douyin was the fastest-growing brand globally in 2022 when its value leapt by 215%. Now worth $84.2 billion (£66.2bn), it's climbed three places up the Global 500 to sit in 7th place, surpassing Facebook as the world's most valuable social media brand.
The platform's rise can be attributed to its phenomenal popularity among Gen Z, although it's been far from plain sailing. Concerns that TikTok could be used as a spying tool by the Chinese government are a PR nightmare for parent company ByteDance, as are recent allegations of racism at the company's US HQ – not to mention the hefty fine the firm received from the EU in September for failing to protect minors' data.
Walmart remains the world's most valuable bricks-and-mortar retail brand, although at $96.8 billion (£77.5bn), it's actually worth 15% less than it was this time last year. Unsurprisingly, Walmart has slipped one spot down in the Global 500 as a result.
Though the company's share price and revenue both increased, 2023 was a tough year for Walmart, with the retail juggernaut facing inflation pressures and self-checkout hiccups, while also navigating layoffs and store closures.
Brighter times could be on the horizon, and the company has recently announced a plan to open or expand 150 locations over the next five years.
Asia's most valuable brand, Samsung Group has risen one spot in the rankings, officially re-entering the top five. The brand's value has decreased this year, albeit fractionally; it's down from $99.7 billion (£78.4bn) to $99.4 billion (£78.2bn), a fall of 0.3%.
This slight decline is likely a result of external pressures, including lacklustre market conditions, with Brand Finance claiming the Samsung brand has actually become stronger and more visible over the past year.
Amazon is still the world's leading retail brand, and its value has risen 3% to $308.9 billion (£243bn) over the last 12 months. But considering it was the world's number-one brand overall last January, what's gone wrong?
Its drop in the rankings probably has more to do with the faster growth of the current top three rather than Amazon itself suffering a fall from grace. The retailer has seen 1% shaved off its score in the latest edition of the American Customer Satisfaction Index, though it still ranks in a strong second place, while other indicators also remain healthy.
The mighty Google brand is now worth $333.4 billion (£262bn), an increase of over 18% from this time last year. It's retained its spot as the world's third-most valuable brand and top media name.
Google continues to go from strength to strength, with its generative AI tool Gemini (formerly Bard) and other innovations becoming significant drivers of the search engine's brand value.
Microsoft has risen two spots to take second place in the Global 500, and the value of its brand has increased by a whopping 78% to $340.4 billion (£268bn).
Brand Finance attributes this phenomenal increase to Microsoft's massive future-proofing investment in AI. Last year's launch of the US tech titan's AI companion Copilot, not to mention the integration of AI across many of its platforms, has seemingly worked wonders on the value of the Microsoft brand.
Officially the world's most valuable brand, Apple has made a triumphant return to the top spot after falling to second place in January 2023.
Since then, the brand has grown in value by 74% and is now worth $516.6 billion (£406bn), all the more impressive if you consider that iPhone sales have plateaued.
According to Brand Finance, the US tech giant has pulled off the feat through "strategic diversification and premiumisation". Apple's forays into wearables, streaming, and other lucrative areas are paying off, while its technique of encouraging people to upgrade to higher-end iPhones has helped cushion the blow of slowing sales.
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