Worlds Largest Companies 2023 Global Finance Magazine

In addition to its core business, Saudi Aramco is involved in many other activities, including petrochemicals, power generation, and water desalination. The company is known for its efficient operations and strong financial performance and is the world’s largest foreign exchange market is located in a key contributor to the Saudi Arabian economy. These companies have made their mark on the world through their innovative products, services, and business models, and they continue to drive growth and success in their respective fields.

This means, that in real terms, people are actually earning less than they were in previous year. In countries outside the United States, most currencies have depreciated significantly against the dollar as it reaches record highs, trading in uk which has simply added to the cost of living. Most workers are angry that their companies are not adjusting their salaries in line with the increase in cost of living, which has led to strikes and demand of their rights.

The company’s 366,000 employees work mostly in Japan and North America, but manufacturing and distribution centers offer opportunities globally. It’s a testament to the size and profitability of London’s oil and gas behemoth that a 600% loss in profits still didn’t stop the company from ranking in the top 20. Its 68,000 employees work across refining, service, technology and other divisions in 70 countries worldwide. Female jobseekers should note that BP leads Big Oil firms in hiring women, including executive positions. It is one of the world’s largest and most diversified energy companies, with a range of business interests, including oil, natural gas, and petrochemicals.

  • With over 9900 retail locations in the nation, some regions have one practically on every corner.
  • These companies offer a range of financial services, including deposits, loans, investment and wealth management, insurance, and brokerage services.
  • It is one of the world’s largest and most diversified energy companies, with a range of business interests, including oil, natural gas, and petrochemicals.

The world’s biggest companies by revenue represent relatively new, faster-growth industries and mature, slower-growth ones ranging from e-commerce and tech devices to oil and retailing. The company operates a chain of drugstores with locations throughout the U.S. as well as in Puerto Rico. Aside from retail, CVS offers pharmacy benefit management services, mail order pharmacy services, and disease management programs. As a group, the companies on the 2022 Global 2000 account for $47.6 trillion in revenues, $5.0 trillion in profits, $233.7 trillion in assets and $76.5 trillion in market cap.

Despite the difficulties, SGCC still has substantial profits from serving over a billion utility customers in China as well as stakes in international utilities including the Philippines, Australia, Italy and Brazil. The company’s commitment to pursue cleaner energy means a future increase in environmental jobs in addition to the 896,360 workers already employed. China’s second-largest oil company has seen profits returning with increased demand from factories and freight operators, but their future objectives involve pivoting to greener energy. Apple continues to inspire cult-like devotion from its customers, and the sudden surge in supplying home offices during the pandemic made profits for the tech giant soar. Apple’s 154,000 employees enjoy good salaries and benefits in what is considered one of the best companies to work for in the world. The biggest danger to Apple is anti-monopoly legislation as it continuously strives to corner the market on smartphones, apps, computers, smart watches, digital music and even Oscar-winning films.

Healthy income statements, however, mask a new economic reality which is devoid of government stimulus and features much lower stock values as inflation and a bearish market turn have put a damper on economic recovery. The entities listed here are not just the world’s best index funds 2023 largest companies, they are also many of the world’s most admired companies. But they are not admired because they are the largest, but for their diverse range of offerings, technology innovation, historic past, wise management, customer or investor services.

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Apple is best known for its series of iPhones, iPads, and Mac personal computers. They can be highly profitable as well; 14 of the stocks on this list outperformed the S&P 500 over the past five years. They make up four of the top five — and seven of the top largest companies by market cap. The Bergen Drug Company was the first business in America to use computers for accounting and inventory practices back in 1959. Throughout its history of mergers and acquisitions, AmerisourceBergen has remained at the forefront of innovation and technology in wholesale drug distribution, logistics, and patient services. The company provides a wealth of opportunity for a range of pharmaceutical jobs, with 42,000 employees in over 50 countries.

For years, Apple—also one of the world’s most admired companies—has seen its market cap fall victim to its sales success. While the popularity with consumers of products like iPhones, iMacs and tablets propelled Apple to new heights, whenever sales appeared to slow, its market capitalization suffered. The China State Construction Engineering, is a Chinese state owned company and a major general contractor in terms of overseas sales. As the largest construction company in the world by revenue, China State Construction Engineering generated a revenue of $305.88 billion in 2022. Buffett has acted as chairman and CEO since then and converted Berkshire to a holding company in 1970. While its main business is insurance (it owns one of the largest insurance companies, GEICO), Berkshire has also invested in companies across a range of industries.

AmerisourceBergen Corporation (NYSE:ABC)

Four out of the five financial companies on the list are based in China, most of them receiving major financial support from China’s central government. The financial sector is comprised of banks, investment companies, insurance companies, and real estate firms. These companies offer a range of financial services, including deposits, loans, investment and wealth management, insurance, and brokerage services. Though headquartered in Minnesota, this health insurance giant employs 340,000 people in all 50 states and 33 additional countries. The hugely profitable UnitedHealth offers individual and corporate plans as well as Medicare and Medicaid supplemental insurance. It also runs offshoot Optum, which specializes in technology-based health services, including benefits management and data analysis to manage prescription costs.

Founded in 1984 and headquartered in Beijing, the Industrial & Commercial Bank of China (ICBC) employs over 430,000 workers and has 884 worldwide locations in 39 separate countries and territories. With 2021 profits over $45 billion and assets topping 5 trillion, the ICBC ranks yet again as the largest lender in the world. According to their own financial interim report (PDF), the state-owned bank serves more than 9.2 million corporate clients and 590 million personal customers around the world. Despite challenges brought on by the pandemic, ongoing war and unpredictable markets, the world’s largest public companies managed to boost sales and profits in the last year.

#1 Walmart Inc. (WMT)

Visa Inc. is a multinational financial services company headquartered in Foster City, California. It is one of the world’s largest payment technology companies, with a network that spans more than 200 countries and territories. Visa offers a range of payment products and services, including credit cards, debit cards, prepaid cards, and mobile payments. JPMorgan is a global financial holding company that provides banking and financial services.

#107 Commonwealth Bank of Australia

Bank of China provides a broad range of banking and financial services to individuals, corporations, government authorities, and financial institutions. Its services include savings, deposits, lending, mortgages, credit and debit cards, trade-related products, and credit facilities. The bank also offers insurance, underwriting, stock brokerage, investment research, and asset management services. Agricultural Bank of China provides provides international commercial banking and financial services. It offers financial products and services to individuals, corporations, government agencies, and financial institutions. The bank also engages in money market or repurchases transactions, debt instrument investments, and holding of derivative positions.

Large-cap stocks like these are an important part of every investor’s portfolio. They generally provide more safety and stability than smaller stocks since most of them are established companies with strong brands. Explore the world of large-cap stocks and learn how these can shape your portfolio. The German package delivery and courier company is easily among the biggest courier companies in the world, with revenues crossing 81.75 billion euros in 2021, and the return on equity being quite high at 27.7%.

In addition, the company earns revenue through a growing array of hardware products such as the Pixel phones, Fitbit, and the Google Nest home collection. Alphabet also operates its Other Bets segment which includes emerging businesses such as the self-driving car business Waymo. UnitedHealth Group Inc. (UHG) is a multinational healthcare company based in Minnetonka, Minnesota. It is one of the largest healthcare companies in the world, with a diverse range of business interests, including health insurance, healthcare services, and technology solutions.

It would have been among the world’s 10 most profitable companies, and would have even topped the list in previous years. Saudi Arabian Oil, also known as Saudi Aramco, is an energy and chemicals company. Owned by the Saudi Arabian government, it has the largest daily oil production and the second-largest proven crude oil reserves of all oil companies. Microsoft has been the world’s largest company before, and it briefly surpassed Apple for the biggest market cap in 2021.

Biggest Companies in the World by Market Cap

So-called stay-at-home companies in e-commerce and digital platforms gained sales and revenue as shutdowns demanded use of new technologies. When vaccines became available and the world economy slowly re-opened, revenue flows shifted again. In addition to Saudi Aramco as second largest company overall, and Novo Nordisk in healthcare, Taiwan Semiconductor Manufacturing (TSMC) comes in strong with a market value of $530 billion. French luxury retailer LVMH, which in May 2023 became the first European company to surpass a market value of $500 billion, is also among the world’s most valuable companies. Nestlé is a multinational food and beverage company based in Vevey, Switzerland.

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