Amazon is the world's most valuable brand with an estimated value of $684 billion, according to a global ranking by Kantar's BrandZ.
The tech conglomerate is closely followed by Apple, which is worth at $612 billion. However, search engine giant Google is languishing at the third place with a valuation of $458 billion.
From China, Tencent has made huge strides, grabbing the fifth place in the global value chart. Significantly, Tencent, China's biggest social media and video games company, is valued higher than Alibaba, which has been placed in the seventh spot.
"Chinese brands are steadily and slowly progressing, and have made significant headway as more companies leverage their own technological developments and demonstrate their abilities to align with the major trends shaping China and the global market," Graham Staplehurst, global strategy director at Kantar BrandZ, said, according to Reuters.
While Apple was founded in 1976 by legendary tech pioneer Steve Jobs, Amazon was founded in 1994 by Jeff Bezos, the world's richest man.
Another new age American conglomerate, Tesla, took honors for being the fastest growing brand. it is also the most valuable car brand, which has notched up a 275 percent increase in value. Tesla's current valuation is $42.6 billion, according to the list.
The list shows that while the US companies are perched at the top rungs, European companies have been overshadowed by the Chinese giants.
The report also shows that as many as five global became twice as valuable than in the previous years. Some of them are Chinese e-commerce giants Pinduoduo and Meituan China's top liquor maker Moutai China's TikTok and Elon Musk's Tesla
Here's the Top Ten List According to Kantar BrandZ:
|2021 Rank||Brand||Value $Billion||% Change 2021 vs 2020|