Top 10 Richest Company In The World 2024

Top 10 Richest Company In The World 2024

In an era where corporate giants dominate, understanding who holds the title of the richest company in the world offers valuable insights. Hookeaudio.com delves into the economic juggernauts shaping our global market.

We’ll uncover the strategies, innovations, and leadership driving their financial prowess. Join us as we explore the factors catapulting these companies to the pinnacle of economic success, and what it means for the future of global business.

Which Are The Richest Companies in the World?

Here are top 10 companies with highest net worth as of March 05, 2024

RankCompanySectorsMarket Cap (in USD)
1MicrosoftTechnology$3.085 trillion
2AppleTechnology$2.889 trillion
3Saudi AramcoOil & Gas$1.997 trillion
4Alphabet (Google)Technology$1.841 trillion
5AmazonE-commerce$1.790 trillion
6NvidiaTechnology$1.784 trillion
7Meta PlatformsSocial Media$1.195 trillion
8Berkshire HathawayDiversified Investments$861.74 billion
9Eli LillyPharmaceuticals$699.88 billion
10TSMCSemiconductors$676.61 billion
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1. Apple – $2.894 trillion

Apple Inc.

  • Country: USA
  • Current CEO: Tim Cook

In 2024, Apple Inc. stands as a technological giant with a staggering net worth of $2.894 trillion.

Founded in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne, the company has made significant strides in the tech industry, known for its innovative products like the iPhone, iPad, Macbook, Air Pods, and Apple Watch.

Despite challenges and stiff competition, notably from Microsoft, Apple maintains a dominant position with an annual revenue of around $383.933 billion and a net income of approximately $94.760 billion.

Under CEO Tim Cook’s leadership, Apple continues to be a symbol of innovation and financial strength in the global market.

2. Microsoft – $2.824 trillion

Microsoft

  • Country: USA
  • Current CEO: Satya Nadella

In 2024, Microsoft, co-founded by Bill Gates and Paul Allen in 1975, boasts a massive market cap of $2.824 trillion.

A key to its recent success is its strategic investment in OpenAI, which has significantly boosted its AI and cloud computing ventures. This move led Microsoft to briefly surpass Apple’s market value, peaking at $2.903 trillion.

Despite market fluctuations, Microsoft has maintained a strong stance, with a nearly 57% stock rise in 2023, reflecting its robust financial position and innovative edge in technology.

In a nutshell, Microsoft in 2024 stands as a testament to its enduring legacy, innovative spirit, and financial might, continuing to push the boundaries of technology and reshaping the digital world as we know it.

3. Saudi Aramco – $2.062 trillion

Saudi Aramco

  • Country: Saudi Arabia
  • Current CEO: Amin H. Nasser

Saudi Aramco, founded by Standard Oil Co. of California (now Chevron) in 1933, has evolved into a global energy titan with a staggering net worth of $2.062 trillion.

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This behemoth, headquartered in Dhahran, Saudi Arabia, made headlines with its record-breaking $161.1 billion net profit in 2022, showcasing its dominance in the oil industry.

The company’s strategic investments in increasing crude production and venturing into lower-carbon technologies highlight its commitment to growth and sustainability amid fluctuating oil prices and global demand​.

4. Alphabet (Google) – $1.778 trillion

Alphabet (Google)

  • Country: USA
  • Current CEO: Sundar Pichai

Alphabet, the parent company of Google, is a true titan in the tech world, sitting at a hefty market cap of $1.77 trillion as of February 2024.

Since its inception in 1998 by Larry Page and Sergey Brin, Alphabet has expanded far beyond its roots as a search engine. This tech giant has shown impressive growth over the years, with its market cap increasing by 43.92% in just one year.

In 2023, Alphabet reported a notable net income of $73.8 billion on revenues of $307.4 billion. These figures represent significant year-over-year gains, demonstrating the company’s robust financial health and consistent market performance.

A major portion of Alphabet’s revenue, approximately 76%, is generated from its advertising business, including Google Search, YouTube ads, and the Google advertising network.

Moreover, revenue from Google subscriptions, platforms, and devices grew by 18.5% to $10.8 billion in the quarter, while Google Cloud revenues jumped 20.4% to $9.2 billion.

Alphabet has consistently innovated and diversified, investing in areas like AI, cloud computing, and various other tech ventures, maintaining its position as a leader in the global tech industry.

5. Amazon – $1.567 trillion

Amazon

  • Country: USA
  • Current CEO: Andy Jassy

Amazon, the behemoth of e-commerce, was born in Jeff Bezos‘s garage on July 5, 1994, in Bellevue, Washington.

From its humble beginnings as an online bookstore, Amazon has grown into an Everything Store, disrupting industries left and right with its technological innovation and aggressive expansion.

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As of 2024, Amazon stands tall with a net worth of $1.567 trillion, making it one of the wealthiest companies on the planet.

Its vast empire now includes cloud computing giant Amazon Web Services, streaming platform Twitch, and even the high-end grocery chain Whole Foods, acquired for a cool $13.4 billion.

Amazon’s growth trajectory has been nothing short of spectacular, from launching its own devices like the Kindle and Echo to venturing into cloud computing and even space with its Project Kuiper satellite Internet endeavor.

Despite facing criticism for its work culture and anti-competitive behavior, Amazon’s influence on global retail and technology is undeniable, with nearly 200 million Amazon Prime subscribers worldwide and a workforce that numbers over a million.

6. Nvidia – $1.56 trillion

Nvidia

  • Country: USA
  • Current CEO: Jensen Huang

In 2024, Nvidia, a leader in GPUs and computing technology, has reached an astounding market cap of $1.56 trillion.

Founded in 1993 by Jensen Huang, Chris Malachowsky, and Curtis Priem, the company has significantly expanded beyond gaming GPUs.

This growth is evident in its remarkable Q3 revenue of $18.12 billion, with a significant contribution from its Data Center segment.

Nvidia’s success is a testament to its innovative approach and adaptability in the tech industry​.

7. Meta Platforms – $1.03 trillion

Meta Platforms

  • Country: USA
  • Current CEO: Mark Zuckerberg

Meta Platforms, previously known as Facebook, stands as a tech giant with a towering market cap of $1.03 trillion as of early 2024.

The journey of Meta began in a Harvard dorm room in 2004, founded by Mark Zuckerberg and his college roommates.

Over the years, Meta has grown into the world’s largest social network, expanding its empire by acquiring platforms like Instagram, WhatsApp, and Oculus, further diversifying its technological and social media prowess.

The rebranding to Meta in 2021 marked a strategic pivot towards the development of the metaverse, aiming to create a virtual reality space for more immersive user interactions.

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Despite facing challenges such as declining profits and significant layoffs in 2022, Meta showcased resilience by shifting focus towards AI technology and launching new initiatives like the Threads app and making its Llama 2 AI model available for commercial use.

This move not only stabilized the company but also contributed to a significant rebound in its stock value by the end of 2023, underlining Meta’s enduring influence in the tech world.

8. Berkshire Hathaway – $836.40 billion

Berkshire Hathaway

  • Country: USA
  • Current CEO: Warren Buffett

As of February 1, 2024, Berkshire Hathaway, the investment giant led by the renowned Warren Buffett, stands tall with a market cap of $836.40 billion.

This represents a substantial 21.93% increase over the year. Berkshire Hathaway’s impressive growth trajectory, reflecting its diverse and strategic investments, has consistently solidified its position as a major player in the global financial landscape.

From its origins in the textile industry, the company has transformed into a behemoth with a broad portfolio encompassing various sectors, illustrating the prowess of value investing

9. Tesla – $609.05 billion

Tesla

  • Country: USA
  • Current CEO: Elon Musk

Tesla, zooming into the future with a market cap of $609.05 billion as of early 2024, is a story of innovation, resilience, and electrifying growth, firmly establishing it as the richest automobile company.

Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla has surged from an ambitious startup to a leading name in electric vehicles, solar panels, and batteries for both cars and home power storage.

Elon Musk, joining as chairman in 2004 and later becoming CEO, has been pivotal in steering Tesla towards its groundbreaking achievements, including the iconic electric Roadster in 2008.

The company’s journey from its inception to becoming a symbol of electric mobility is marked by significant milestones such as its partnership with Daimler AG in 2009, which Musk credits with saving Tesla during its early days, and its successful IPO in 2010, becoming the first American car maker to go public since Ford in 1956.

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By 2021, Tesla had delivered 2.3 million vehicles globally, showcasing its dominance in the electric vehicle sector.

Despite facing challenges like production hurdles and stock fluctuations, Tesla’s innovative spirit and commitment to sustainability have kept it at the forefront of the automotive and energy sectors.

10. Eli Lilly – $597.02 billion

Eli Lilly

  • Country: USA
  • Current CEO: David A. Ricks

Eli Lilly, with a towering net worth of $597.02 billion, stands as a testament to innovation and perseverance in the pharmaceutical industry.

Founded in 1876 by Colonel Eli Lilly, a Civil War veteran and pharmaceutical chemist, Eli Lilly and Company has grown from a small laboratory in Indianapolis to a global pharmaceutical giant.

Fast forward to 2022, the company employs approximately 39,000 people worldwide, dedicating a substantial 23.6% of its workforce to research and development, underscoring its commitment to scientific discovery and innovation.

Lilly’s portfolio includes leading drugs for clinical depression and diabetes medications, reflecting its long-standing mission to create medicines that make life better for people around the globe​.

FAQs

Which is the richest company in the world by market cap in 2024?

Apple Inc leads as the most valuable company with a market cap of approximately $2.894 trillion, followed closely by companies like Saudi Aramco and Alphabet (Google)​​​​.

What industries do these wealthiest companies belong to?

The industries range from technology (Apple, Alphabet, Nvidia, Meta Platforms) and finance (Berkshire Hathaway, HSBC Holdings) to pharmaceuticals (Eli Lilly), semiconductors (TSMC), and energy (Saudi Aramco, ExxonMobil)​​​​​​.

What factors contribute to a company’s wealth and market cap?

Diverse factors including innovation, market dominance, diversification, strategic leadership, global presence, and investment in future technologies such as AI and renewable energy​​​​.

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Are there any non-U.S. companies among the richest in the world?

Yes, companies like Saudi Aramco (Saudi Arabia), TSMC (Taiwan), and HSBC Holdings (England) highlight the global nature of today’s corporate wealth​​.

How does Berkshire Hathaway maintain its high market cap?

With a diversified investment portfolio, leadership under Warren Buffett, and ownership of a wide array of businesses, Berkshire Hathaway maintains a high market cap and is known for the world’s most expensive stock in absolute terms​​.

What role do tech companies play in the current global economy?

Tech companies like Apple, Alphabet, and Nvidia play a crucial role by leading in innovation, digital services, and AI, significantly influencing the global market cap and driving economic trends​​.

Which company has seen significant growth due to the renewable energy sector?

Tesla, with its focus on electric vehicles and clean energy products, has shown remarkable growth, reaching a valuation of around $750 billion​​.

How do companies like Visa and Alibaba influence global finance and e-commerce?

Visa, with its extensive financial services and electronic payments system, and Alibaba, a leader in e-commerce, significantly impact global commerce, online retail, and financial transactions​​​​.

What future trends are expected to influence the rankings of the richest firms?

Trends such as advancements in AI, renewable energy, digital transformation, healthcare innovation, and global e-commerce are expected to continue shaping the rankings of the richest business in the world​

Conclusion

In conclusion, the journey to becoming the world’s richest company is paved with innovation, strategic decisions, and relentless pursuit of excellence.

Hookeaudio.com’s exploration into these corporate titans not only reveals their path to success but also serves as a blueprint for aspiring businesses.

Stay tuned for more in-depth analyses and insights into the dynamic world of global corporate success.

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