As prices soar and inflation rises, there are still many companies that continue to thrive. Some of the wealthiest and most successful businesses out there can adapt to any type of market change, allowing them to continue raking in billions of dollars. So keep reading to see which companies made it onto this comprehensive list of the richest companies in the world.
Top 20 Richest Companies in the World
The wealthiest companies bring in more money than most people can comprehend. Many individuals won’t even see a percentage of these profits in their bank accounts within their lifetimes. More information on the companies listed in this article can be found on Linkedin and Money, Inc. Now let’s look at these extraordinary companies that are the best of the best in their respective fields.
20. Saudi Aramco - $161 Billion
While this oil giant’s profits over the last year may be related to the world emerging from the COVID-19 pandemic, they’re still a company that deserves notice. According to NPR.org, the company’s CEO believes that the prices of crude oil and increased volumes sold are likely the reason for such a significant profit in 2022.
China is this oil company’s largest client, so it makes sense that they are investing more in setting up operations in the country. Aramco started the development of a petrochemical facility and a vast integrated refinery in northeast China.
Saudi Aramco’s relationship with China should continue to be profitable, where it’s expected that the demand for Saudi oil will keep growing in the coming years – though sluggish demand by the end of last year helped somewhat bring down high oil prices. Among Aramco’s big deals last year was an investment in developing a major integrated refinery and petrochemical complex in northeast China.
19. China State Construction Engineering Corporation - $252 Billion
This business calls Beijing, China, its home and specializes in real estate development, housing construction, infrastructure construction, and investments. In addition, they offer building services, design, and development. China State Construction Engineering Corporation can claim it is responsible for constructing most of China’s infrastructure, housing, and skyscrapers.
18. Volkswagen - $277.3 Billion
As one of the most recognized names in auto manufacturing, it’s no surprise that Volkswagen earns a nice amount of money through its profits. What might come as a surprise is that Volkswagen does more than make cars. They make and sell motorcycles, automotive services, engines, and turbomachinery.
Volkswagen also manufactures and sells vehicles under other well-known names like Porsche, Audi, Ducati, and Lamborghini. Even though this company’s headquarters are based in Germany, they have 70 locations worldwide that manufacture its products, including its engines and turbomachinery.
17. Toyota - $279.3 Billion
This company is often the first name that comes to mind when many people think about safe, reliable vehicles. Toyota is a Japanese manufacturer of cars, and they don’t just sell their products under their primary vehicle’s name. The carmaker also sells Hino, Lexus, and Daihatsu vehicles.
The manufacturing giant has also branched into other areas outside their auto sales. For example, if you’re a resident of Japan, you may find yourself finding lodging through the Toyota Housing Corporation.
16. CVS Heath - $ 299.7 Billion
CVS is one of the few corner drug store chains that’s been able to survive the changing landscape of pharmaceuticals and convenience shopping. They are headquartered in Rhode Island in the US and can boast owning more than 1,000 medical facilities and 9,900 pharmacies nationwide.
Keeping convenience both attractive and affordable has given CVS an edge over its competition. As a result, customers keep returning to the CVS Minute Clinics, which offer vaccinations and basic diagnostics. You can also check out the weekly sales and photo services while you’re there, making it easy to accomplish multiple tasks in one location.
15. UnitedHealth Group - $306.5 Billion
Minnesota is where UnitedHealth Group calls home. This insurance, pharmacy benefit provider, and healthcare service can also be seen conducting business under the names Optum and UnitedHealthcare. Both of those subsidiaries provide pharmacy and healthcare-related services.
UnitedHealth Group isn’t just limited to operating in the United States. It has branches listed on the SEC.gov website operating worldwide, allowing it to make a global-sized income.
14. Bank of America Corporation - $317 Billion
Did you know this bank was once known as the Bank of Italy? The Office of the Comptroller of the Currency states that this business was known as the Bank of Italy until 1930.
Their headquarters are located in Charlotte, NC, and they claim to serve 67 million customers, including small business clients. The bank serves its customers in 35 countries, has 4,000 retail locations, and has 16,000 ATMs worldwide.
13. ADCB -$333.8 Billion
ADCB offers financial services and is based in Abu Dhabi, United Arab Emirates (UAE). They specialize in corporate and retail banking, foreign exchange, cash management, and property management.
You don’t necessarily have to be a resident of the UAE to use the bank’s services. They also operate in parts of the United Kingdom, making plenty of money from multiple streams.
12. ExxonMobil - $352.2 Billion
This significant Texas oil and gas company is the world’s most recognized name in the business and the most publicly traded. While the headquarters are in Irving, TX, ExxonMobil’s reach extends out to six other continents. They specialize in oil and gas products, oilfield services, and chemical refining production.
Did you know that ExxonMobile has a chemical subdivision called ExxonMobil Chemical? It’s well-known for producing chemically-based items like plastics and synthetic rubber.
11. Berkshire Hathaway - $353.2 Billion
There may not be a list of the wealthiest companies in the world that doesn’t have Warren Buffet’s holding company on it for a long time to come. The headquarters are located in Omaha, NE, and they are involved in insurance, utilities, manufacturing, financial services, and more.
In 2022, Nasdaq listed Berkshire Hathaway’s stock to be the highest priced around. This value could be because, in addition to the above-listed products and services, the company has a hand in other industries, including retail, energy generation insurance, and more.
10. JP Morgan Chase - $374.4 Billion
This company was listed by Reuters as the “world’s biggest systemically important bank” in November of 2022. So, for example, if you have any banking that you do with Chase Bank, you’re part of the JP Morgan Chase empire.
No matter where you live in the US, you’re likely to be able to find any one of their 4.700 branches or any of the more than 16,000 ATMs at your service. Headquartered in New York, JP Morgan Chase is the biggest bank in America.
9. Apple - $387.5 Billion
Even if you don’t own any Apple products, you can’t escape the brand no matter where you are in the United States. While this electronics and info tech company is based in California, its presence in every major city makes it seem like its headquarters are in your hometown.
Apple is well-known for its innovative designs, which they create, innovate, and distribute to as many retailers as possible. Yet the company has branched out to add even more money to its impressive income stream in recent years. Apple Music and AppleTV+ have set the stage for the tech giant to grow in new directions.
8. CNPC - $414 Billion
If there is gas and oil involved like it is with CNPC (China National Petroleum Corporation), then there’s bound to be lots of money. CNPC’s primary offerings include oilfield services, energy development, engineering, construction, manufacturing, and gas and oil operations. They also operate PetroChina Company Limited, which offers general retail and crude oil explorations.
While the headquarters are in Beijing, this corporation operates internationally. As a result, they can claim that they are the most significant Chinese oil company by both volume and revenue.
7. Sinopec Group - $433 Billion
Yet another oil company joins the others on this list, and it’s no surprise. Oil means big money, especially when you offer oil refining, production, exploration, and the import and export of chemicals.
Sinopec is recognized as one of the largest gas, oil refining, and petrochemical companies, yet they advocate for a low-carbon revolution of global power. Moreover, they are serious enough to make the information about their initiatives right on the Sinopec website.
6. Agricultural Bank of China - $449.6 Billion
As one of the three largest banks in China, it might be surprising to some that this bank didn’t go public until 2010. The bank offers its plentiful consumers personal banking, corporate banking, treasury operations, and more. This bank does everything from financial products to the money market or repurchase tractions.
Not to mention, this banking giant has been a trailblazer in bringing its financial services to an IT platform. However, you can still do business with them in person at any of their more than 23,000 branches throughout China.
5. State Grid Corporation - $460 Billion
China’s State Grid Corporation has its headquarters in Beijing and is the largest utility company in the country. Obviously, they are in the business of operating and building power grids to supply energy to as many as 1.1 billion customers. However, the powerhouse is also working to meet global energy standards by working to offer clean and safe energy to all.
4. Amazon - $485.9 Billion
Whether you love or hate them, Amazon deserves a place on this list. Its headquarters are in Seattle, Washington, and the retailer has countless warehouses and distribution centers across the US and worldwide.
Younger generations may not know that this massive retailer started selling only books online. Today, it sells retail goods, electronics, groceries, clothing, jewelry, and almost anything you can imagine. Amazon also has a Prime membership, which enables its members to get free shipping and watch select movies and television shows for no extra cost.
3. China Construction Bank Corporation - $467.3 Billion
China Construction Bank Corporation is yet another massive bank in China. According to their website, they are leaders in the market with the products and services they offer, including bank cards, residential mortgages, and infrastructure loans.
China Construction Bank Corporation prides itself on creating meaningful customer relationships, from individuals to the most successful companies. The bank also owns branches, including China Construction Bank Limited, China Construction Bank International, Sino-German Bausparkasse Co. Ltd, and more. You can find locations worldwide in cities like Tokyo, Singapore, New York, Sydney, Frankfurt, and Hong Kong.
2. Industrial and Commercial Bank of China - $549 Billion
This bank is regarded by many to be one of the largest in the world. It was successfully listed on The Stock Exchange of Hong Kong Limited and the Shanghai Stock Exchange in 2006. The bank offers services, including personal and corporate banking, online banking, and the distribution of bank cards.
Additional services include investments, private banking, asset management, financial market services, cash management, loans, and more. This bank isn’t limited to operations in China. They maintain a presence worldwide in the Americas, Europe, Africa, the Middle East, and throughout Asia-Pacific.
1. Walmart - $576 Billion
Walmart has expanded beyond its headquarters in Bentonville, Arkansas, to serve a wide range of people worldwide and in the US. According to Walmart’s website, the retailer operates in 24 countries, including Canada, Botswana, El Salvador, Chile, China, India, Mexico, Kenya, Zambia, and several other locations.
The goal of Walmart is always to provide everything a person needs, from groceries to clothing, for a low price. Walmart boasts around 2.3 million employees in all kinds of roles. This number-one rich company is also the world’s most enormous public corporation.
The Numbers Add Up for the Best in the World
Even if you’ve never heard of some of the companies on this list, they’re the best at what they do and are recognized worldwide for their financial accomplishments. In addition, almost every company on this list started small and has grown to be one of the richest businesses in the world today.
There’s no reason anyone can’t aspire to be associated with a wildly successful company. So if you have an idea and dream of being on a list like this someday, get started, and you may see your name and company listed here.
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Written by Allen Lee
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