Facebook and Amazon’s market caps have pushed their way into the world’s top five most valuable companies list as of Friday, allowing a rare cluster of Bay Area tech companies to dominate in the morning stock trade.
The biggest U.S. company is Cupertino-based Apple – leading with $562 billion – followed closely by Mountain View-based Google at $519 billion and Microsoft at $439 billion, according to CNN Money.
Amazon pushed Exxon Mobil – rival gas company with Chevron – out of fourth place at $365 billion.
Exxon, struggling with oil prices in the U.S., suffered a crash in profits, which led to a shrink in its market cap, according to CNN.
Menlo-based Facebook pushed the multinational conglomerate company Berkshire Hathaway out of the top five with $362 billion.
The rise of tech companies like Facebook and Amazon allow for a stark comparison to its competitors like Warren Buffet, CEO of Berkshire Hathaway. Brands owned by Buffet include a railroad company in Santa Fe and the ice cream company Dairy Queen.
This isn’t the first time that Mark Zuckerberg and Amazon CEO Jeff Bezos surpassed Warren Buffet in the stock trade race. They did it in January and earlier this month.
