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ExxonMobil Net Worth

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Exxon Mobil Corporation's Net Worth as of 2024
$365 Billion

The largest company in the world by market capital valuation is now ExxonMobil, a gas and oil multi-national conglomerate formed in 1999, with headquarters in Irving, Texas USA, which was actually the brainchild of founder – and a very familiar person in the ranks big business and ‘the richest’ – John D. Rockefeller back in the late 1800s, himself being one of the richest people to ever live.

So just what is the net worth of ExxonMobil? Of course the net valuation of the company varies almost daily, according to the stock market prices of gas and oil in particular, but as of early 2017 it stands at $365 billion, although it has been as high as $450 billion, now constantly vying with Apple and more recently Alphabet (Google) as the highest valued company in the world.

ExxonMobil Net Worth $365 Billion

Most importantly, ExxonMobil is ranked by Fortune 500 as the second most profitable world company, regardless of recent volatility in oil prices; its revenue has apparently diminished little, still estimated to be the world’s 8th largest. Probably as equally important, the company’s shares remain sort-after by investors – as a publicly traded company it’s the fifth largest by market capitalization.

How did ExxonMobil grow into such a highly-valued company? The answer lies initially in the discovery, expansion of production, refinement, control of distribution, and sales of oil and its derivatives, beginning in 1870, promoted most energetically by John D. Rockefeller. Originally the company was called the Standard Oil Company of Ohio, soon amalgamating with the New York and New Jersey arms of Standard Oil in 1882 to form Standard Oil Trust. However, the Sherman Anti-Trust Law of 1892 decreed that the company had to be broken-up – it was too successful, too powerful in the oil industry, which presumably meant little competition at the points of sale.

The anti-trust process actually took nearly 20 years; one of the resulting 34 individual companies became Socony – an acronym for Standard Oil Company of New York – which subsequently became Mobil, and another became Jersey Standard, later Exxon, the two much later amalgamating into the conglomerate we know today. (‘The more things change, the more they stay the same!?’)

However, even then, not to be ‘outlawed’ or sidelined, several of the companies went about expanding by acquiring assets internationally, thus extending their overall influence on the market – the US legal authorities had little influence over companies domiciled outside their jurisdiction, even though controlled from within the US. Asia, including China, was incorporated into the New York company, and Canada into New Jersey; other companies established in the UK, Germany, The Netherlands, Italy and Belgium were also under the auspices of ‘Standard Oil’, so that by the early 1900s, Standard Oil was collectively stronger than ever.

Jersey Standard moved into South America, in Colombia in the form of Tropical Oil Company in 1920, and in Venezuela of Standard Oil Company (1921), and Creole Petroleum Company (1928). Oil was also found, and subsequently exploited and refined, in Indonesia, and in conjunction with Vacuum Oil Company – an early industry leader – effectively controlled the oil industry from East Africa to the south Pacific area.

Socony concentrated more on domestic production, including transportation by pipeline through the acquisition of Magnolia, very significant given the rising importance of the vehicle industry, but also ventured into Iraq through an association with the Turkish Petroleum Company in the late 1920s. By the late ‘40s, an interest had been acquired in Saudi Arabia – an area with the world’s largest known oil reserves – through Aramco (Arab-American Oil Company).

As can easily be seen, the various elements of what became ExxonMobil were way ahead of the field in the oil industry, especially at a time when usages of oil and refined products were approaching a peak.

Several name changes and amalgamations occurred during the ‘50s and ‘60s, and acquisitions continued into further primary sources, including of coal and the refining of this mineral into various products. Libya became another important oil source, but concurrently Socony and Jersey both branched out into solar and nuclear power, the former briefly as its usefulness was seen as too long-term to be profitable, and mining and processing of uranium ore began in the early ‘70s.

ALSO In the early ‘70s, oil shale deposits were also acquired and developed, including in Australia, obviously with an eye to the long-term future. This was also the time when Exxon was adopted as the company’s over-riding name, and became very visible at points of sale. Consolidation was the order of the day, but Mobil European Gas was established too, followed by amalgamation with British Petroleum (BP), so becoming one of the big players in Europe for oil and natural gas.

Finally, in 1999 both the European Commission and US Federal Trade Commission approved the merger of Exxon – at that time the largest energy company in the world – and Mobil, the second biggest gas and oil company in the US. One may well wonder what happened to the anti-trust laws implemented a century earlier? Well, Mobil had to divest itself of BP, its share of the German Aral company, and MEGAS. In the US, almost 2500 gas stations had to be sold, as well as refineries in California, New England and Washington D.C., plus Mobil’s interest in the Trans-Alaska Pipeline among other lesser assets.

However, ExxonMobil certainly did not stagnate, and more recent operations have seen sales to franchisees of gas stations in the US, cessation of coal-mining, but still further oil exploration in Central Asia – apparently linked with the interest of CEO Rex Tillerson, now nominated as US Secretary of State – plus an arrangement he allegedly concluded with the Russian company Rosneft, but stymied somewhat by sanctions imposed on Russia following its invasion of Ukraine. Interests in the Middle East (Sudan, Syria, Iran) have also continued to develop – not, supposedly, in contravention of various sanctions imposed.

Clearly there is power in strength, both commercially and politically, and ExxonMobil is one of the prime examples – to coin a phrase, the company is ‘too big to fall/fail’; that has been quoted before, but not always accurately.

Significantly, there have been many accidents particularly involving oil spillage, eg the oil tanker Exxon Valdez running aground in Alaska in 1989, which eventually cost the company $500 million in damages, apart from the cost of the clean-up; but the penalties of such incidents the company is easily financial enough to withstand. Most such cases have occurred within the USA.

Regardless, ExxonMobil remains a giant in the power production industry, if perhaps waning a little as reliance on oil and its derivatives diminishes somewhat around the developed world at least. However, given the company’s wider interests aside from oil, there is every possibility that its financial strength may well see it being a significant player in various other sources of power in the near future.

As the Managing Editor at NetWorthPost, I lead a talented team in delivering compelling content on the lives and achievements of influential figures. With a keen eye for detail and a passion for storytelling, I oversee the production of insightful biographies that resonate with our audience. My role involves not only managing the editorial process but also conducting research, crafting engaging narratives, and ensuring the accuracy and quality of our publications. At NetWorthPost, we strive to provide our readers with in-depth profiles that offer valuable insights into the worlds of business, entertainment, and beyond. Through meticulous research and captivating storytelling, we bring to light the remarkable journeys and successes of individuals who inspire and captivate us.

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Billionaires

Mark Zuckerberg Net Worth

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Mark Elliot Zuckerberg was born on 14 May 1984, in White Plains, New York State USA into a Jewish family. He is known for making billions of dollars at a very young age. However, even if a lot of people are jealous and sceptical about Mark, they should admit that not only does he deserve all that he has, but also respect and admiration for being smart and inventive. He has created a virtual empire which we all acknowledge nowadays: is there anyone in the world who has not heard of Facebook!

So how rich is Mark Zuckerberg? According to Forbes Magazine and Bloomberg’s Billionaires list, Zuckerberg‘s net worth is estimated at $56 billion as of early-2017, making him the seventh richest person in the world, up from 15th just nine months earlier. What strikes as most comic is that Mark has a salary of only $1 dollar per year as CEO of Facebook, however, that doesn‘t stop him from being a self-made billionaire, now head of a company ranked in the 10 largest in the world, valued at $275 billion.

Mark Zuckerberg Net Worth $56 Billion

Mark was indeed an ‘A’ grade student, apparently excelling in many subjects when at Ardsley High School, ranging from physics to classics. However, above Mark‘s interest in computers stands his father. He introduced Mark to computers and wanted him to take an interest in them. Edward Zuckerberg taught his son Atari BASIC programming and later hired a software developer to train Mark privately once a week. According to David Newman, the above-mentioned tutor, the kid was unbelievably talented and soon left his teacher standing and breathless. When Zuckerberg joined the community of Harvard University, he already had a reputation as a programming genius, because “Facebook” wasn‘t actually the first convenient and useful program he had developed. His works, such as Synapse Media Player, CourseMatch and Facemash received a lot of attention and popularity. Still they cannot rate with Facebook.

Unsurprisingly, a person who begins a world-wide revolution of communication faces a lot of problems, difficulties, intrigues and scandals. Mark was accused by his former friends, the Winklevoss twins, Cameron and Tyler, of stealing their ideas. The brothers actually dreamed of building a connection between all the students of Harvard University. As we all know now, Mark improved this idea by enlarging the range of people who were allowed to use this social network. So, the accusations were at least true in part and Zuckerberg was forced to give away 1.2m Facebook shares to them. Thus there‘s always a bright side of things – the company that Mark set up has made a lot of people wealthy, not just him alone.

Regardless, according to Vanity Fair magazine, Zuckerberg was the most influential person of the Information Age in 2010. That‘s surprising because a year before he ranked only at number 23 on the same list. What‘s more, not only does Vanity Fair consider Mark as the world‘s most influential in this relatively new industry, but also New Statesman. In 2010, they ranked him as number 16 in the top 50 of the world’s most important figures. “Facebook” is considered to be the biggest social networking website on the planet, used by people of all ages, sex or nationality. Zuckerberg is respected because all he had to create such a network were his ideas and fingers that instinctively knew what to press on a keyboard.

Even though Mark Elliot Zuckerberg lost all of his friends and it doesn‘t seem that he‘s ever going to regain them, he at least has a reliable source of income – Facebook, of course. All the other similar companies that Facebook has obtained recently such as Instagram, WhatsApp, and some more must also be taken into account.

In his personal life, Mark Zuckerberg married Priscilla Chan in 2012, having met her originally in 2002. Aside from his career, Mark is a noted philanthropist, particularly to educational projects. In 2010, he joined with Bill Gates and Warren Buffett in promising to donate half of his wealth to charity over time. In 2013 he donated shares valued at $990 million to the Silicon Valley Community Foundation, and the following year $25 million towards combating the ebola disease.

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Billionaires

Gautam Adani Net Worth

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Gautam Shantilal Adani was born on the 24th June 1962, in Ahmedabad, Gujarat, India and is a businessman, widely known as a founder and the chairman of the multinational conglomerate Adani Group. Adani has been active in the business of coal mining and gas distribution since 1988.

How much is the net worth of Gautam Adani? It has been estimated by authoritative sources that the overall size of his wealth is as much as $8.8 billion, as of the data presented in the middle of 2017. Adani Group is the main source of Adani’s fortune.

Gautam Adani Net Worth $8.8 Billion

To begin with, the boy with his seven siblings, was raised in Ahmedabad by his parents Shanta and Shantilal Adani. He was educated at the Sheth Chimanlal Nagindas Vidyalaya school, then entered Gujarat University to study commerce, yet he dropped out.

Currently, the billionaire Gautam Adani owns the largest brand of oil in India. The company was founded in 1988, with Gautam the founder and current president. He said he created his Group with a vision of Nation Building, that is to say by developing assets that he believes are important economic issues for the country. The Adani Group has grown rapidly by diversifying into import – export – it opened its own port in Mundra, to better control its trading operations. Construction began in 1995 and in 1998 it became one of the major sources of foreign exchange for India.

The following year, the company embarked on financial and energy speculation with coal trading, and soon created a joint venture (Adani Willmar) in the field of petroleum products trading in 2000. A second phase began for the group with the creation of large infrastructures. The company created a portfolio of ports, power stations, mines and a fleet of ships and railway lines in and out of India. In 2006, the company became the largest importer of coal in India – 11 million tons. Adani sought to be less dependent on the coal market, so he started to buy and control coal mines. Thus, he bought the Australian group Linc Energy, in order to supply the group’s coal-fired power stations. In 2008, he bought the Bunyu mine in Indonesia , with 180 million tons of coal reserves, and the following year, Adani Group became an energy company, producing 330 MW of thermal energy. In 2011, the group also decided to buy the exploitation rights of a large part of the Galilee coal basin in Australia. To prepare for the import of Australian coal, he ordered a large-capacity coal terminal at Mundra (the largest in the world) and in the same year he bought the Australian port of Abbot Point. This project is yet to come to fruition.

In 2012, the Group began a 3rd phase of development as integration infrastructure, renewing its logo and developing a new identity. The company focuses on three areas: resources, logistics and energy. Subsequently, under the direction of Gautam Adani, the Adani Group became a multinational conglomerate active in the production of electricity – especially through coal – and port terminals, logistics and agribusiness. It is India’s largest developer and port operator. The Group is the major source of Gautam Adani’s net worth.

Finally, in the personal life of Gautam, he is married to Priti and they have two children.

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