The Titans of Commerce: Updated Top 10 Companies by Revenue — Fortune Global 500
In the dynamic landscape of global commerce, certain corporations stand head and shoulders above the rest, not just in terms of brand recognition, but in sheer economic scale. The annual Fortune Global 500 list serves as a definitive ranking of the world’s largest companies by revenue, offering a snapshot of the most powerful economic entities shaping our world.
For 2024, the list once again highlights the enduring dominance of retail giants, energy behemoths, and tech innovators. These are the top ten companies globally, ranked by their immense annual revenue (in billions USD), reflecting their unprecedented market reach and influence.
| Rank | Company | Country | Industry | Revenue (USD B) | Overview |
|---|---|---|---|---|---|
| 1 | Walmart | United States | Retail | 648.1 | The world’s largest retailer, dominating both brick-and-mortar and growing its e-commerce presence. Its vast network and efficient supply chain enable it to generate unparalleled revenue. For more insights, you can explore Walmart’s corporate newsroom. |
| 2 | Amazon | United States | Internet & Retail Services | 574.8 | A global leader in e-commerce, cloud computing (Amazon Web Services), digital streaming, and artificial intelligence. Its expansive reach continues to redefine consumer habits and business operations worldwide. Learn more about Amazon’s investor relations. |
| 3 | State Grid Corporation of China | China | Electric Utilities | 545.9 | The largest utility company globally, responsible for transmitting and distributing power across vast swathes of China. It employs over 1.3 million staff and serves more than a billion customers, underpinning China’s economic growth. Information can be found on the State Grid website. |
| 4 | Saudi Aramco | Saudi Arabia | Oil & Gas | 494.9 | The world’s largest oil producer and exporter, playing a critical role in global energy markets. Known for its immense crude oil reserves and exceptionally high net profits, making it one of the most valuable companies. Check out their latest news and media. |
| 5 | Sinopec Group | China | Petroleum | 429.7 | A major Chinese state-owned energy and chemical company. It is one of the largest refiners of oil and gas products in the world, with extensive operations in exploration, production, refining, and marketing. Details are available on the Sinopec Group website. |
| 6 | China National Petroleum | China | Oil & Gas | 421.7 | Another Chinese state-owned energy giant, active across the entire oil and gas value chain, from exploration and production to refining, chemicals, and marketing. It’s among the world’s largest integrated oil companies. You can find more at CNPC’s official site. |
| 7 | Apple | United States | Technology | 383.3 | A global technology innovator, famous for its consumer electronics (iPhone, Mac, iPad), software, and online services. Apple maintains a fiercely loyal customer base and a vast, expanding ecosystem of products and services. For investor information, visit Apple Investor Relations. |
| 8 | UnitedHealth Group | United States | Health Care | 371.6 | The largest healthcare company in the United States by revenue, providing a wide range of health care products and insurance services through its two main segments: Optum and UnitedHealthcare. Their newsroom offers more information. |
| 9 | Berkshire Hathaway | United States | Financial Holdings | 364.5 | Led by legendary investor Warren Buffett, Berkshire Hathaway is a diversified conglomerate with holdings in various sectors including insurance, manufacturing, retail, and energy. Its vast portfolio includes well-known brands and significant investments. Find their annual reports on the Berkshire Hathaway website. |
| 10 | CVS Health | United States | Health Care / Retail Pharmacy | 357.8 | A leading American healthcare company that integrates retail pharmacy services, pharmacy benefit management (PBM), and health insurance. It operates thousands of retail pharmacies and is a major player in U.S. healthcare delivery. Explore their newsroom for updates. |
✅ Why These Companies Command the Top Spots
The consistent presence of these behemoths at the pinnacle of the Fortune Global 500 list is no accident. Their immense size and influence are driven by several critical factors that allow them to generate unparalleled revenue and impact the global economy.
📌 Economic Scale
Each of these companies generates hundreds of billions in revenue annually, a figure that underscores their staggering economic power. Their ability to command such vast financial resources allows them to invest heavily in innovation, expand into new markets, and weather economic downturns more effectively than smaller enterprises. This scale translates directly into market dominance and significant influence on global trade and investment flows.
📌 Industry Dominance
These corporations don’t just participate in their respective industries; they define them. From retail (Walmart) to cloud & e-commerce (Amazon), and from energy (Saudi Aramco, Sinopec, CNPC) to healthcare (UnitedHealth Group, CVS Health), these firms are not just leaders but often set the benchmarks for operations, technology, and consumer expectations within their massive industry segments. Their strategies and innovations often have ripple effects across entire sectors globally.
📌 Workforce & Reach
- Take State Grid Corporation of China, for example: it employs over 1.3 million staff, serving more than a billion customers. This immense workforce and customer base highlight the vast operational scale and societal impact these companies wield. You can see more infographics about the world’s largest companies on Reddit.
- Apple and UnitedHealth Group, while different in industry, both operate globally across consumer technology and healthcare respectively. Their products and services deeply influence the daily lives of billions, demonstrating their pervasive reach and essential roles in modern society.
📌 Profit & Asset Strength
- Beyond revenue, many of these giants also boast incredible profitability. For instance, Saudi Aramco posted net profits over $100 billion in 2023, showcasing its efficiency and the high demand for its core products.
- Berkshire Hathaway, a diversified conglomerate, handles vast assets exceeding $1 trillion from its multiple subsidiaries. This immense asset base provides financial stability and the capital needed for strategic investments and acquisitions, further solidifying its position in the global economy. This diversified approach is a hallmark of many enduring large corporations.
In conclusion, the world’s biggest companies by revenue are more than just financial figures; they are complex ecosystems that drive innovation, create employment, and influence global economic trends. Their continued growth and strategic maneuvers will undoubtedly shape the future of their respective industries and the broader global economy for years to come.
