The global business scene is ruled by a few top companies that make huge revenues. Walmart has been the top company since 20141. The Fortune Global 500 list includes the 50 biggest companies, all making over $130 billion a year1. Among these, 23 are from the U.S., 17 from Asia, and 10 from Europe1.
largest companies by revenue in the world 2024
| Company | Country | Annual Revenue ($) |
|---|---|---|
| Walmart | 🇺🇸 | 665,000,013,000 |
| Amazon | 🇺🇸 | 604,300,050,000 |
| Saudi Aramco | 🇸🇦 | 495,340,049,000 |
| Sinopec | 🇨🇳 | 473,530,032,000 |
| PetroChina | 🇨🇳 | 430,650,034,000 |
| Apple | 🇺🇸 | 385,600,042,000 |
| UnitedHealth | 🇺🇸 | 385,400,047,000 |
| B. Hathaway | 🇺🇸 | 370,100,043,000 |
| CVS Health | 🇺🇸 | 361,900,048,000 |
| Volkswagen | 🇩🇪 | 348,000,029,000 |
| ExxonMobil | 🇺🇸 | 345,100,009,000 |
| Alphabet | 🇺🇸 | 328,300,052,000 |
| CSCEC | 🇨🇳 | 317,200,051,000 |
| McKesson | 🇺🇸 | 313,800,044,000 |
| Toyota | 🇯🇵 | 311,050,012,000 |
Key Takeaways
- Walmart is the world’s largest company by revenue, generating $648,125 million in 20241.
- Amazon is the second-largest company, reporting $574,785 million in revenue1.
- State Grid Corporation of China ranks third with $545,948 million in revenue1.
- The top American company, Walmart, had a profit of $15,511 million and employed 2,100,000 people1.
- Apple, a leader in the IT sector, generated $383,482 million in revenue and $96,995 million in profit1.
Introduction to the Largest Companies by Revenue
Top Companies by Annual Revenue (2024)
Source: Fortune, Bloomberg, CompaniesMarketCap, Investing
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The Fortune Global 500 ranks the world’s biggest companies by revenue2. It gives us a deep look into the global business scene. It shows how diverse and dynamic the top companies are2.
Overview of the Global 500 Rankings
In 2023, the total revenue of the Fortune Global 500 companies hit $41 trillion, a slight increase from the year before2. The top 50 companies alone play a big role in this huge revenue2.
The Fortune Global 500 shows how the business world is always changing. Companies from all over compete for the top spots2. This list is key for spotting trends and changes in the global market2.
The Fortune Global 500 keeps being a go-to source for info on the world’s biggest companies2. It’s important for business leaders, policymakers, and everyone interested in the economy2.
The Largest Companies in the World by Revenue 2024
The 2024 Fortune Global 500 list highlights the world’s top companies1. Walmart leads with a revenue of $648,125 million1. Amazon, the e-commerce leader, is second with $574,785 million1. Other top companies include State Grid Corporation of China, Saudi Aramco, and China Petrochemical Corporation.
The United States has 23 companies on the list, China has 121. Retail, oil and gas, and technology are big in the top 101.
| Rank | Company | Revenue ($ million) | Industry | Country |
|---|---|---|---|---|
| 1 | Walmart | 648,125 | Retail | United States |
| 2 | Amazon | 574,785 | E-commerce | United States |
| 3 | State Grid Corporation of China | 545,948 | Electricity | China |
| 4 | Saudi Aramco | 487,619 | Oil and Gas | Saudi Arabia |
| 5 | China Petrochemical Corporation | 448,828 | Oil and Gas | China |
| 6 | China National Petroleum Corporation | 435,428 | Oil and Gas | China |
| 7 | Vitol | 400,000 | Commodities | Netherlands |
| 8 | Apple | 383,482 | Technology | United States |
| 9 | UnitedHealth Group | 371,622 | Healthcare | United States |
| 10 | Berkshire Hathaway | 364,482 | Diversified | United States |
Apple was the top company in 2024 by market value at $3.37 trillion3. Microsoft followed with a market cap of $3.04 trillion, and NVIDIA was third with $2.64 trillion3. Alphabet Inc., which includes Google, had a market cap of $2.06 trillion3. Saudi Aramco, in the energy sector, had a market cap of $1.77 trillion3. Amazon, in e-commerce and cloud services, had a market cap of $1.76 trillion3.
The tech sector made up over half of the top companies, showing its big impact3.
Key Insights and Trends
Geographic Distribution and Dominating Industries
The4 2024 Fortune Global 500 list shows us the global economy’s state and the leading industries. The United States leads with 23 companies, followed by China with 124. The oil and gas, retail, and tech sectors are at the top, with names like Saudi Aramco, Walmart, and Apple leading4. These trends show the lasting impact of some industries and the fierce competition among the biggest companies.
| Rank | Company | Country | Industry | Revenue ($ billions) |
|---|---|---|---|---|
| 1 | Saudi Aramco | Saudi Arabia | Oil and Gas | $649.53 |
| 2 | Walmart | United States | Retail | $573.77 |
| 3 | Apple | United States | Technology | $394.33 |
The5 tech sector saw big layoffs, especially among big tech companies, with a 26 percent drop in tech job postings in 20235. Tech investments fell by 30 to 40 percent to about $570 billion in 20235. But5, interest in Gen AI surged by almost 700 percent from 2022 to 2023, showing growing interest and investment in this new tech.
The6 Great Place To Work survey has been tracking the best companies to work for for 30 years6. It uses 60 statements rated on a five-point scale and two open-ended questions to rank companies based on what employees say6. Companies with the most positive feedback from employees get the top spots, showing how crucial employee happiness and well-being are in the business world.
“Over the next five years, the E&M industry is forecasted to grow at a 3.9% Compound Annual Growth Rate (CAGR), with total revenues expected to surpass US$3.4 trillion by 2028.”4
Conclusion
The 2024 Fortune Global 500 list shows the huge financial success and global impact of the world’s biggest companies7. These leaders, from various industries and areas, are key in shaping the global economy8. The list is a key tool for understanding the changing business world and the main players pushing innovation, growth, and economic progress globally.
The tech industry stands out, making up 35% of the total market7 and growing by 5.3% in 20227. With over 500,000 tech firms in the U.S., this sector’s impact keeps growing. Companies like Microsoft, Apple, and Amazon lead in revenue and market value7.
As the world’s top companies change and adapt, their effect on the global economy will stay big. This yearly list gives deep insights into the strategies, innovations, and challenges of the biggest companies. It offers a peek into the future of business.
FAQ
What is the Fortune Global 500 list?
The Fortune Global 500 is an annual list of the world’s biggest companies by revenue. It’s a top source for info on the global business scene.
Who are the largest companies in the world by revenue?
Walmart has led as the world’s biggest company by revenue since 2014. The top 50 companies all make over $130 billion a year.
What is the composition of the Fortune Global 500 list?
The list shows 23 American, 17 Asian, and 10 European companies among the top 50. It highlights the global economy’s diversity, with companies from various sectors and regions.
What are the key insights and trends from the 2024 Fortune Global 500 list?
The 2024 list shows the U.S. leading with 23 companies, followed by China with 12. Retail, oil and gas, and tech sectors are well-represented.
What is the aggregate revenue of the Fortune Global 500 companies?
The total revenue of the 2023 list’s 500 companies hit $41 trillion, a slight increase from the year before. This shows the global economy’s ongoing growth.
Source Links
- List of largest companies by revenue – https://en.wikipedia.org/wiki/List_of_largest_companies_by_revenue
- Biggest Companies in the World by Market Cap – https://www.investopedia.com/biggest-companies-in-the-world-by-market-cap-5212784
- 15 Largest companies by market cap in 2024 – https://www.stash.com/learn/largest-companies-by-market-cap/
- Perspectives: Global Entertainment & Media Outlook 2024–2028 – https://www.pwc.com/gx/en/issues/business-model-reinvention/outlook/insights-and-perspectives.html
- McKinsey technology trends outlook 2024 – https://www.mckinsey.com/capabilities/mckinsey-digital/our-insights/the-top-trends-in-tech
- Fortune 100 Best Companies to Work For® 2024 – https://www.greatplacetowork.com/best-workplaces/100-best/2024
- World’s Biggest Tech Companies of 2024 (Updated List) – https://userguiding.com/blog/biggest-tech-companies
- Small Business Statistics Of 2024 – https://www.forbes.com/advisor/business/small-business-statistics/