Most companies around the world are small businesses. They are oftentimes called the backbone of a country and the local economy. But then there are also the mega-corporations that can and do influence the entire global economy. Their revenues go well into the billions, generating more than even some entire countries put together.

But what are the largest companies in the world? The following updated Top 10 ranking of the largest companies in the world will show you just that. The ranking is based on the most recent full-year revenues a company managed to generate.

The 10 Largest Companies in the World 2023

1. Walmart

Walmart remains the largest company in the world. The American retail company generated an astounding revenue of $572.8 billion last year. The Arkansas-based company’s chain of hypermarkets founded by Sam Walton in 1962 remains the by far most popular hypermarket in the Americas and in the world, which contributed most to Walmart’s half-trillion-dollar revenue last year. But Walmart now also owns smaller supermarket chains in multiple countries and runs over 5,000 stores in total. By employing well over two million people worldwide, Walmart is also the largest private employer in the world.

2. Amazon.com

As the world’s biggest online retailer, Amazon.com is also the second-largest company in the world. Founded in 1994 by Jeff Bezos, one of the richest men in the world currently, Amazon.com has established itself as a truly global phenomenon, offering its global customers a huge variety of products for attractive prices and quick deliveries. The American company has additionally also established itself as a major IT and tech company. With around one and a half million employees across the globe, Amazon.com is now also the second-largest non-state-owned employer on the planet.

3. State Grid

State Grid is an electric utility company that enjoys a monopoly on most of the Chinese market (which happens to be the second most populous in the world). State Grid builds all sorts of power plants and other electrical infrastructure in Northern and Central China (the Southern Chinese market is served by the other state-owned Chinese electric utility company “China Southern Power Grid”). Additionally, the corporation recently also started to invest in various overseas projects, having built power plants and lines in multiple countries across the world. State Grid also owns stakes in major electric utility companies in countries such as Chile, Australia, and Portugal.

4. China National Petroleum Corporation

Beijing-based China National Petroleum is the fourth-largest among the largest companies in the world and the largest oil & gas company worldwide. The state-owned Chinese corporation immensely profited from the drastic increase in the price of oil and gas across the world, which helped the company to achieve a new record-setting revenue last year. Aside from China itself, China National Petroleum also owns stakes in other oil & gas companies and many oil fields across the planet.

5. Sinopec

Sinopec is the world’s second-biggest oil and gas company by revenue, coming fifth in the ranking of the largest companies in the world. Generating only a slightly smaller revenue than China National Petroleum, Sinopec also profited from the stark increase in oil and gas prices last year. The state-owned company is not only a major refiner but also belongs to the world’s biggest exporters of crude oil. Sinopec owns numerous oil fields and stakes in oil & gas companies across the globe, with a particularly specific focus on Africa.

6. Saudi Aramco

Saudi Aramco is another oil and gas company among the largest companies in the world. As the government-owned national oil and gas company of the kingdom of Saudi Araba, it is the world’s largest company in terms of crude oil exports. Saudi Aramco is also the world’s most profitable company and the by far largest and most important component of Saudi Arabia’s economy. The company is responsible for the exploration and production of crude oil and natural gas, as well as the refining and marketing of these products. Saudi Aramco operates in more than 90 countries around the world nowadays, playing a big role in the energy security of many parts of the world.

7. Apple

Apple is a California-based American technology giant and comes currently seventh among the largest companies in the world. Founded in 1976, Apple is best known for its range of high-end consumer electronics and software products, such as the iPhone, iPad, Mac, Apple Watch, and Apple TV. Over the years, Apple has grown to become an iconic and beloved brand, and its products are used by millions of people around the world. Apple’s success has been built on its commitment to innovation and quality, as well as its focus on customer service, which allows the company to charge premium prices for its products, making the company also one of the most profitable companies and most valuable brands in the world.

8. CVS Health

CVS Health is the largest pharmacy, one of the largest healthcare companies, and thus one of the largest companies in the world, period. The company operates almost 10,000 pharmacy retail stores across the United States and in addition to its retail operations, CVS Health also provides pharmacy benefit management and is a leader in both mail order and digital healthcare services in the USA. Its strong market positions in both these business branches allow CVS Health to generate among the globally highest revenues, despite being only active in its home market of the United States.

9. Volkswagen

As the world’s biggest car company, Volkswagen also finds itself in the ranking of the ten largest companies in the world. It was originally founded in 1937 and since then, the German company has grown to become the biggest manufacturer of cars in the world. It offers a wide range of automobiles and car brands, making small city cars to high-end luxury cars and SUVs across the company’s many brands. Volkswagen has also managed to establish a wide network of dealers and service centers across the globe, enabling the company’s customers to easily access their vehicles and receive any necessary repairs or maintenance for any of the Volkswagen-owned car brands.

10. China State Construction Engineering Corporation

China State Construction Engineering Corporation (CSCEC) is the largest building and construction company in the world, which makes it also one of the largest companies in the world in general. It is a state-owned company under the direct control of the Chinese government. Founded in 1957, the CSCEC has grown extensively over the past seven decades. Aside from its Chinese home market, the company now has over 200 branches and offices around the world and builds and develops construction projects in other parts of Asia, Africa, South America, North America, Australia, and the Middle East. CSCEC’s core business covers the entire construction industry, including civil engineering, construction, property development, infrastructure development, as well as urban construction.

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The 10 Largest Companies in the World 2023

(Last Update: February 2023)

Top 10 Largest Companies in the World:
1. WALMART Industry: Retail Based in Bentonville, Arkansas, USA Revenue: $572.8 billion
2. AMAZON.COM Industry: Online Retail & IT Based in Seattle, Washington, USA Revenue: $514.0 billion
3. STATE GRID Industry: Electric Utilities Based in Beijing, China Revenue: $461.0 billion
4. CHINA NATIONAL PETROLEUM CORPORATION Industry: Oil & Gas Based in Beijing, China Revenue: $411.7 billion
5. SINOPEC Industry: Oil & Gas Based in Beijing, China Revenue: $401.3 billion
6. SAUDI ARAMCO Industry: Oil & Gas Based in Dhahran, Eastern Province, Saudi Arabia Revenue: $400.4 billion
7. APPLE Industry: Electronics Based in Cupertino, California, USA Revenue: $394.3 billion
8. CVS HEALTH Industry: Pharmacy & Healthcare Based in Cupertino, California, USA Revenue: $315.2 billion
9. VOLKSWAGEN Industry: Automobiles Based in Wolfsburg, Lower Saxony, Germany Revenue: $295.8 billion
10. CHINA STATE CONSTRUCTION ENGINEERING CORPORATION Industry: Construction Based in Beijing, China Revenue: $293.7 billion

Top 10 Largest Companies in the world based on the most up-to-date revenue numbers available, in US dollars.