Brand Finance: Amazon overtakes Apple to become world’s most valuable brand

Online retailer Amazon has overtaken Apple as the most valuable brand in the world, despite losing $51 billion last year. should from the Brand Finance Global 500 report.

“Amazon has regained its top spot on the World’s Most Valuable Brands list, despite its brand value falling 15% this year from $350.3 billion to $299.3 billion,” the report said.

It is clarified that the drop in the company’s value is associated with an increase in delivery times and, as a result, a decrease in the level of customer confidence in the company. Also, the fall in the value of the company could be caused by a decrease in the need for online stores against the background of the lifting of coronavirus restrictions and the return to the usual way of life.

Apple at the end of the year lost 16% of its value and took second place. Now the company is estimated at $297.5 billion instead of $355.1 billion a year earlier. “The drop in brand value this year is due to falling revenue forecasts as a disrupted merchandise supply chain and tight job market are expected to limit shipments of its core hardware products,” the report said.

Amazon founder Jeff Bezos was the first person to earn $200 billion, but in January 2021 he was surpassed by Tesla founder and Twitter owner Elon Musk, who became the richest person in the world. At the beginning of November 2021, the businessman’s fortune reached a maximum of $340 billion, but by the end of 2022, Musk became the first person in history to lose $200 billion. His fortune is estimated at $137 billion, wrote Bloomberg. Bezos is currently in fourth place in ranking Bloomberg is among the richest people, his fortune is estimated at $119 billion. The first line belongs to the head of Louis Vuitton Moët Hennessy (LVMH) Bernard Arnault, whose fortune is estimated at $187 billion.