Finance

Disruptors PayPal and Square surpass Wall Street giants including Goldman Sachs in market cap

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Jack Dorsey, chief executive officer of Twitter Inc. and Square Inc., speaks during an Empowering Entrepreneurs events at Ryerson University in Toronto, Ontario, Canada, on Tuesday, April 2, 2019.

Cole Burston | Bloomberg | Getty Images

A remarkable changing of the guard is happening in finance.

This week, the market capitalization of fintech payments firm Square exceeded that of Goldman Sachs, the 151-year-old investment bank, for the first time.

Almost exactly two months earlier, PayPal surpassed Bank of America, the second biggest lender in the U.S., in market cap. That move made the online payments pioneer worth more than every American bank except for JPMorgan Chase.

The meteoric…



Source cnbc.com

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