The 2019 BrandZ Top 100 Most Valuable Global Brands ranking, which looks at the brands that contribute the most value to their respective parent companies, revealed a big jump in valuation for Facebook-owned photo and video sharing platform Instagram and nine newcomers to the list, including Chanel, Xbox (owned by Microsoft) and Didi Chuxing, the Chinese ride-hailing company that bought Uber’s Chinese business in 2016.

But the biggest news came from online retailer and cloud services provider Amazon, which overtook Apple and Google to become the world’s most valuable brand this year, according to the report released Tuesday. All three tech giants are among America’s highest paying companies.

“Behind this headline growth figure lies the success coming from a new phenomenon of ecosystem brand building,” said David Roth, CEO of global retail at marketing services provider WPP, which co-released the report with brand equity research company Kantar. “We’re seeing a move from individual product and service brands to a new era of highly-disruptive ecosystems.”

Perhaps no company is more in tune with creating brand ecosystems than Seattle-based Amazon. Through its numerous business operations, the Seattle-based tech giant commands about half of all U.S. online retail in the United States, a third of the global cloud services, and continues to expand through rapid-fire acquisitions.

Since the start of 2018, Amazon has acquired several technology companies, including U.S. cybersecurity startup Sqrrl, Indian payment platform Tapzo, and Canadian cloud services consultant TSO Logic. Earlier this year Amazon shored up its robotics division by purchasing Canvas Technology, a Colorado-based warehouse robotics startup.

This year’s list includes some of the highest-paying U.S. companies and well-known consumer facing brands. More Asian brands are appearing on the list, rising from just one in 2006 to more than 20 this year. Overall, the research estimates that these 100 brands added $328 billion to their total value, to $4.7 trillion, compared to the previous year—perhaps justifying in some cases the sky-high compensation received by some CEOs.

Rank	Company	Category	Brand Value 2019 ($M)	2018-2019 Brand Value Change	Country of Origin
1	Amazon	retail	$315,505	52%	United States
2	Apple	technology	$309,527	3%	United States
3	Google	technology	$309,000	2%	United States
4	Microsoft	technology	$251,244	25%	United States
5	Visa	payments	$177,918	22%	United States
6	Facebook	technology	$158,968	-2%	United States
7	Alibaba Group	retail	$131,246	16%	China
8	Tencent	technology	$130,862	-27%	China
9	McDonald’s	fast food	$130,368	3%	United States
10	AT&T	telecom provider	$108,375	2%	United States
11	Verizon	telecom provider	$94,598	11%	United States
12	Mastercard	payments	$91,929	30%	United States
13	IBM	technology	$86,005	-11%	United States
14	Coca Cola	beverages	$80,825	1%	United States
15	Marlboro	tobacco	$71,958	-12%	United States
16	SAP	technology	$57,528	4%	Germany
17	Disney	entertainment	$57,007	6%	United States
18	UPS	logistics	$54,899	-9%	United States
19	Home Depot	retail	$53,507	13%	United States
20	Xfinity	telecom provider	$48,889	14%	United States
21	Nike	apparel	$47,360	23%	United States
22	Louis Vuitton	luxury	$47,214	15%	France
23	Wells Fargo	regional bank	$46,468	-15%	United States
24	Starbucks	fast food	$45,884	3%	United States
25	T-Mobile	telecom provider	$44,219	7%	Germany
26	PayPal	payments	$44,166	25%	United States
27	China Mobile	telecom provider	$39,322	-15%	China
28	Accenture	technology	$39,184	16%	Ireland
29	ICBC	regional bank	$38,432	-16%	China
30	Spectrum	telecom provider	$38,423	-2%	United States
31	Chanel	luxury	$37,006	.	France
32	Walmart	retail	$36,801	8%	United States
33	American Express	payments	$35,071	17%	United States
34	Netflix	entertainment	$34,290	65%	United States
35	Kweichow Moutai	alcohol	$33,924	6%	China
36	Intel	technology	$31,880	13%	United States
37	Hermes	luxury	$30,966	10%	France
38	Samsung	technology	$30,369	-6%	South Korea
39	Youtube	entertainment	$29,613	29%	United States
40	Ping An	insurance	$29,470	13%	China
41	Toyota	cars	$29,151	-3%	Japan
42	Cisco	technology	$28,861	35%	United States
43	L’Oreal	personal care	$28,376	9%	France
44	Instagram	technology	$28,205	95%	United States
45	Adobe	technology	$27,930	57%	United States
46	Salesforce	technology	$26,917	58%	United States
47	Huawei	technology	$26,908	8%	China
48	General Electric	conglomerate	$26,700	-32%	United States
49	Vodafone	telecom provider	$26,499	-8%	United Kingdom
50	Oracle	technology	$26,488	3%	United States
51	Budweiser	beer	$26,317	-3%	United States
52	Gucci	luxury	$25,274	13%	Italy
53	Uber	transport	$24,206	51%	United States
54	Mercedes-Benz	cars	$23,355	-9%	Germany
55	BMW	cars	$23,326	-9%	Germany
56	HSBC	global banks	$23,169	-2%	United Kingdom
57	Royal Bank of Canada	regional bank	$22,845	0%	Canada
58	LinkedIn	technology	$22,816	46%	United States
59	China Construction Bank	regional bank	$22,709	-4%	China
60	HDFC Bank	regional bank	$22,705	9%	India
61	Zara	apparel	$22,581	-16%	Spain
62	Costco	retail	$21,282	17%	United States
63	Baidu	technology	$20,879	-22%	China
64	Orange S.A.	telecom provider	$20,728	6%	France
65	Royal Dutch Shell	energy	$20,669	2%	United Kingdom
66	JD	retail	$20,609	-2%	China
67	Chase	regional bank	$20,514	6%	United States
68	Life Insurance Corporation	insurance	$20,314	.	India
69	FedEx	logistics	$20,176	-9%	United States
70	NTT	telecom provider	$20,070	-10%	Japan
71	DiDi	transport	$20,041	.	China
72	TD Ameritrade	regional bank	$19,958	2%	Canada
73	JP Morgan	global bank	$19,827	9%	United States
74	Xiaomi	technology	$19,805	.	China
75	Movistar	telecom provider	$19,361	-15%	Spain
76	IKEA	retail	$18,949	8%	Sweden
77	Citi	global banks	$18,878	-11%	United States
78	Meituan	lifestyle platform	$18,760	.	China
79	Pampers	baby care	$18,664	-8%	United States
80	ExxonMobil	energy	$18,604	2%	United States
81	Dell Technologies	technology	$18,486	.	United States
82	Agricultural Bank of China	regional bank	$18,199	-5%	China
83	Bank of America	regional bank	$17,983	3%	United States
84	Colgate	personal care	$17,567	-5%	United States
85	KFC	fast food	$17,205	14%	United States
86	Subway	fast food	$17,124	-9%	United States
87	Xbox	technology	$16,690	.	United States
88	DHL	logistics	$16,644	-19%	Germany
89	Haier	iot ecosystem	$16,272	.	China
90	AIA Group	insurance	$16,145	7%	Hong Kong
91	Commonwealth Bank	regional bank	$15,795	-18%	Australia
92	Siemens	conglomerate	$15,308	-4%	Germany
93	Hewlett-Packard	technology	$15,202	3%	United States
94	Lowe’s	retail	$14,964	14%	United States
95	US Bank	regional bank	$14,851	-9%	United States
96	Aldi	retail	$14,692	7%	Germany
97	TATA Consultancy Services	technology	$14,282	.	India
98	Gillette	personal care	$14,150	-8%	United States
99	Bank Central Asia	regional bank	$13,437	6%	Indonesia
100	Adidas	apparel	$13,355	7%	Germany

Consumer technology companies feature prominently among the top most valuable brands, but nestled among Google, Microsoft and Alibaba are non-tech stalwarts like McDonald’s and Coca-Cola.

While Instagram’s value nearly doubled compared to last year, making it the fastest-rising brand on this year’s list, the luxury category was the fastest-rising category, gaining 29 percent in value compared to the previous year’s data, followed by the retail category, which jumped 25 percent.

The rapid pivot to cloud computing, which underpins services like Facebook and Netflix and is increasingly part of day-to-day company operations and customer services, has boosted the value of the other leaders in the technology, namely Salesforce and Adobe, whose brand values jumped by nearly 60 percent.

Strategic acquisitions and changing strategies are helping Coca-Cola and PepsiCo adapt to declining demand for carbonated soft drinks, while Shell has been a leader in the oil and gas industry in alternative energy acquisitions, according to the report. Consumer product giants Procter & Gamble and Unilever, are working toward a more sustainable, recyclable packaging in response to consumer awareness of the issue.

The report said overall brand value growth was 7 percent for 2019, well below the “exceptional performance” of 21 percent in 2018 and below the annual average 9.5 percent growth rate measured since 2007. Part of the reason for the lower-than-average growth in brand value for the 100 companies on the list is attributable to heightened trade tensions between the U.S. and China that pulled down the brand value of automakers and banks.

But despite the lackluster growth in brand value for 2019, total brand value on this top 100 list is at an all-time high.

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