Tesla, Netflix, and Warren Buffett's Berkshire Hathaway are among 16 companies in the race to hit the $1 trillion mark within the next five years, according to a recent study by cloud-based procurement solutions provider Approve.com.
Facebook became the fifth US company to join the $1 trillion club in late June this year, joining other tech leaders such as Apple, Microsoft, Amazon, and Google parent Alphabet to achieve that milestone. Oil producer Saudi Aramco is the only non-US company in the exclusive club.
Approve.com analyzed the market caps of the 50 biggest publicly-listed companies alongside their average annual growth to find which ones could hit the 13-digit mark the quickest. The analysis, published in July, showed that even more tech companies are set to dominate the trillion-dollar zone.
Projections made for Chinese-based companies in this study are based on annual growth rates, and don't include the impact of the recent regulatory crackdowns. These companies have had a turbulent year, ever since Beijing began to tighten its grip on services that were abruptly presented with new compliance challenges.
Here are the 16 companies on track to reach a $1 trillion-dollar valuation by 2026:
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