Tuesday, August 16, 2016

The World’s Top 10 Largest Companies in 2016

The FORBES Global 2000 ranking of largest companies bases the scoring from equal measures of revenue, profits, assets and market value. The companies that made the list for 2016 spread out over 63 countries and together total $35 trillion in revenue, $2.4 trillion in profit, $162 trillion of assets, and have a combined market value of $44 trillion. Let’s take a look at the top 10 below.

1.   Industrial and Commercial Bank of China                                   

Founded in 1984 in Beijing, China, this is the largest bank in the world by total assets and market value. It also holds the number one spot on The Banker’s Top 1000 World Banks. As of 2014 there were 375,354 employees. They have branches in Paris, Amsterdam, Milan, Barcelona, and in 2008 opened a branch in New York City. 

Industrial and Commercial Bank of China

2.  China Construction Bank

The number two spot is held by China Construction Bank, founded in 1954, also in Beijing, China. They have 329,338 employees as of 2011. In 2005, Bank of America acquired 9% stake in this bank for US$3 billion. However, by the end of 2013, Bank of America had sold its entire stake in the bank. 

China Construction Bank

3.  The Agricultural Bank of China

Founded 65 years ago (1951), in Beijing, China, the Agricultural Bank of China is one of the “Big Four” banks in the People’s Republic of China, along with number 1 and 2 on this list. As of 2012 they employed 444,238 people at their nearly 24,000 branches.   

Agricultural Bank of China

4.  Berkshire Hathaway 

Number four on the list was founded in 1839, 177 years ago, in Cumberland, Rhode Island. The company is known for Warren Buffett, who is Chairman of the Board, President, and Chief Executive Officer. Berkshire Hathaway employees 331,000 people as of 2015. The company started as a textile manufacturing company in 1839, and then ventured into the insurance world by 1967 when Buffett was in control. The textile operations were finally shut down in 1985. Today, the company wholly owns man well-known brands. GEICO, Dairy Queen, Fruit of the Loom, Helzberg Diamonds, and 26% of the Kraft Heinz Company, to name a few. They also have undisclosed percentages in Mars, Incorporated, American Express, Coca-Cola, Wells Fargo and IBM. 

Berkshire Hathaway Logo

5.  JPMorgan Chase

The largest bank in the United States, and the world’s sixth largest by total assets is a bank many of us bank with regularly. JPMorgan Chase was only founded 15 years ago in 2000. The number of people employed by the company in 2015 was 235,678. JPMorgan Chase is actually a combination of several other banks that you have probably heard of over the years, including Chase Manhattan Bank, JP Morgan and Co, Bank One, Bear Stearns and Washington Mutual.  

JP Morgan Chase

6.  Bank of China

Founded in 1912 by the Republican government to replace the Imperial Bank of China, it is the second largest lender in China. The bank is owned by the government of China and employees 305,675 people. Bank of China has two locations in New York, one on Madison Avenue, and the other on East Broadway. 

Bank of China

7.  Wells Fargo

Founded in 1852 in New York City, Wells Fargo operates in 35 countries and has 8,700 branches. It is the largest bank in the world by market capitalization and the third largest in the US by assets. Henry Wells and William Fargo, also the founders of American Express, formed Wells Fargo & Company to provide banking services to California. William Fargo was also the Mayor of Buffalo, New York twice from 1862 to 1863 and again from 1864 to 1865. 

Wells Fargo

8.  Apple

Founded in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne, Apple has become the world’s largest technology company by total assets. Apple employs 115,000 employees as of 2015 and has 478 stores worldwide. The company had revenue of $233.715 billion in 2015. And, at the rate this company is going, they are sure to move up on next year’s list. 

Apple Logo

9.  ExxonMobil

Headquartered in Irving, Texas, ExxonMobil was formed November 30, 1999 by the merger of Exxon and Mobil. Both of these companies, Exxon and Mobil, were directly related to Standard Oil who was established by John De. Rockefeller. In 1998, when the new company was formed by signing a $73.7 billion merger, they were the largest oil company and the third largest company in the world. Now they are the ninth largest company and still hold the title of largest oil company. 

Exxon Mobil

10.  Toyota Motor

Toyota Motor Corporation was founded in Japan in 1937 by Kiichiro Toyoda. Toyota is the world’s leading manufacturer of hybrid electric cars. In 2015, the total revenue for Toyota was ¥29.79 trillion and 346,219 employees. Toyota is not only a car manufacturer. They also build robots and provide financial services through its Toyota Financial Services division. Today, Akio Toyoda is the CEO of Toyota Motor Company, a direct descendent of the founder Kiichiro.  

Toyota Logo