A bet on Australia’s first $300 billion company a decade ago would have favoured the big miners, BHP and Rio Tinto. Or maybe CSL, the darling biotech. Atlassian, a home-grown version of American big tech, might have been a long-shot contender.
But not a boring bank that only became a public company in the 90s.
Today, Commonwealth Bank’s gravity-defying run culminated in it being the first to break the $300 billion barrier. CBA’s run hasn’t been a sprint — just a long, inexorable rise in valuation.
Getting on two years ago Capital Brief pointed out there was something different with CBA that separated it from the rest of the Big Four. And that was a combination of market clout, franchise value, management superiority and sheer scale.
