Regarding the ranking of the world’s most valuable global brands, Cupertino-based Apple Inc. is the defending champion.
Plus, the company’s Racial Equity and Justice Initiative has already surpassed $200 million in investments. Here are the details of the news.
Apple is the world’s number 1 most valuable brand
Apple is still reigning as the world’s number one most valuable brand, for the second year in a row already, in the Most Valuable Global Brands Report 2023 by Kantar BrandZ.
The company led with a brand valuation of $880 billion this year, slightly lower than its brand valuation in 2022, which was $947 billion. Nevertheless, Apple, along with the other companies on the list, retains its long-term growth trajectory.
“Apple has proven resilient in the face of testing market conditions, justifying premium prices with positive perceptions, and proving that meaningful, different, and salient brands are best placed to weather global economic disruption,” Kantar BrandZ said.
The latest ranking shows that the total brand value of the Top 100 worldwide brands now stands at $6.9 trillion. This is lower by 20 percent compared to the figure in 2022, but the Top 100 brands still retain their long-term growth trajectory, posting a 47 percent growth compared to the time before the pandemic.
Coming in second place is Google, with a $577 billion brand valuation, followed by Microsoft, with a $501 billion brand valuation. On the number four spot is Amazon, with a $468 billion brand valuation.
The Top 10 also include, in ascending order, McDonald’s, Visa, Tencent, Louis Vuitton, Mastercard, and Coca-Cola.
Kantar BrandZ also said that technology companies make up most of those on the ranking.
Kantar BrandZ ranks and presents the most valuable brands across six continents each year. Kantar BrandZ is part of Kantar, which is one of the world’s leading data, insights, and brand consulting companies.
Apple’s Racial Equity and Justice Initiative
Meanwhile, Apple announced today that its Racial Equity and Justice Initiative (REJI)has already raised more than $200 million in investments, doubling initial commitments last 2020.
“Building a more just and equitable world is urgent work that demands collaboration, commitment, and a common sense of purpose,” said Apple’s chief executive officer, Tim Cook. “We are proud to partner with many extraordinary organizations that are dedicated to addressing injustice and eliminating barriers to opportunity. And we’ll continue to lead with our values as we expand our efforts to create opportunities, lift up communities, and help build a better future for all.”
This initiative is a long-term global effort to promote equity and expand opportunities for Black, Hispanic, and indigenous communities.
For instance, REJI funds financial institutions that support Black, Hispanic, and indigenous business owners.
Among the other efforts of REJI are education grants. With these, Apple has already reached over 160,000 learners through in-person courses and out-of-school offerings. It has also pledged more than $50 million to Hispanic-Serving Institutions and Historically Black Colleges and Universities.
