Exxon Mobil fell from Dow after nearly a century, replaced by Salesforce

Exxon Mobil, which joined the Dow Jones Industrial Average in 1928, is being removed from the blue-chip stock market index. Its replacement: Enterprise software company Salesforce.com.

Also leaving the index are pharmaceutical company Pfizer and airplane and defense contractor Raytheon Technologies. He is being replaced by biotech Amgen and manufacturing group Honeywell. S&P Dow Jones Indis, the company that handles the index, announced the changes, which will take place on Monday 31 August. The index provider said the changes were necessary for Apple’s imminent stock split, which becomes effective the same day.

Apple and Tesla announced share split


The Dow Jones is a stock-price-weighted index. Apple’s stock split, which would move the company’s shares from $ 500 to about $ 120, would have cut Dow’s exposure to the technology sector. The index company said Monday’s changes would help the Dow “add new types of businesses that better reflect the American economy.”

Energy giant Exxon Mobil joined Dow 92 years ago as Standard Oil in New Jersey, and is the oldest member of the index. Dow’s last original member, General Electric, Was removed in 2018.

Exxon Mobil was the most valuable company in the United States in the early 2000s and as recently as 2011, when it reached a market value of just over $ 400 billion. Apple overtook Exxon in 2012, and went far behind in technology.

Earlier this month, Apple’s market value topped $ 2 trillion, It is the first American company to reach that milestone. Meanwhile, Exxon has a market value of $ 175 billion. The company claims that it has deliberately concealed the loss, part of it has been argued The oil has long been extracted and refined into gasoline and is going to the planet.

Climate change can cause human extinction…


Oil plays a much smaller role in the American economy today than it did 50 years ago. While fossilizing in the US revitalizing and developing the energy sector, fossil fuel demand fell flat – and has dropped during COVID-19 financial crisis. In the 1980s, energy companies made up a quarter of the Dow. After Exxon’s exit on Monday, energy will only account for 2% of the index.

SalesPhone.com sells Exxon’s replacement, software that allows large companies to track sales and other information. Its market value is just under $ 190 billion, and its CEO Mark Benioff, who owns Time magazine, is widely viewed as one of the country’s most influential executives.


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