The Exxon Mobil precursor Standard Oil was first listed among the 30 blue-chip companies in the Dow Jones industrial average in 1928. By 2007, the fossil fuel behemoth peaked as the largest publicly traded company in the world—in any industry—with a market capitalization of more than $500 billion. But then came the Great Recession and the tech boom and the energy transition and, finally, the pandemic. The bottom seemingly fell out and Exxon Mobil was unceremoniously dumped out of the Dow in 2020 with a market value of just—relatively speaking—$178 billion.
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