Most valuable companies in history, adjusted for inflation

When Apple surpassed Exxon-Mobil as the world’s most valuable company in August 2012, it ignited a debate over what, precisely, “most valuable” means--and how inflation influences the calculation. Apple’s 2012 market valuation topped out at $661 billion U.S., the highest absolute-value figure in history, but a longer-term view of other corporate giants shows it has a ways to go before it can claim the all-time, inflation-adjusted top prize. Here are history's 9 most valuable companies, adjusted for inflation.

1 - 11 of 11

9 of 11 photos

3. The South Sea Company in 1720
Value then: 200 million British Pounds // Adjusted to 2012 dollars: U.S. $4 trillion

HOW IT GOT SO BIG: The South Sea Company’s history largely aligned with that of the Mississippi Company. It, too, saw hyperinflation of its share price on misplaced speculation over future business growth. But there was a difference: the British government was pulling the strings instead of the French, and company’s monopoly ... more
3. The South Sea Company in 1720
Value then: 200 million British Pounds // Adjusted to 2012 dollars: U.S. $4 trillion

HOW IT GOT SO BIG: The South Sea Company’s history largely aligned with that of the Mississippi Company. It, too, saw hyperinflation of its share price on misplaced speculation over future business growth. But there was a difference: the British government was pulling the strings instead of the French, and company’s monopoly extended over Spanish-controlled South America and not French colonies further north. And it was able to fall back on its legitimate underlying trade business after the house of cards collapsed.

WHAT HAPPENED: Share value crashed in 1720 as investors realized that returns would never match the superheated expectations. The South Sea Company evolved away from trading, focusing on government debt management until it was dissolved in the mid-19th century.

VALUE TODAY: nil

Image: Wikimedia Commons less