Top 12 Biggest Companies In The World 2024
The world’s largest companies touch the lives of billions of people around the globe every day, from the moment we wake up to the products we rely on throughout the day. As of 2024, the world’s biggest public companies account for trillions of dollars in revenue across a variety of industries like technology, retail, energy and financial services.
The past few years have seen some major shifts in the rankings of the world’s largest companies. While tech giants like Apple, Microsoft, Amazon and Alphabet (Google’s parent company) have retained their spots at the very top, legacy brands like Walmart, ExxonMobil and Toyota have slipped down the rankings as newer tech companies have rapidly ascended. E-commerce has also fueled the growth of companies like Alibaba, giving them the scale to compete with decades-old giants.
The following are the top 12 biggest public companies in the world as of 2024, ranked by their market capitalization value in U.S. dollars. The market cap figures are based on the companies’ share prices as of January 2024.
1. Apple ($3 Trillion Market Cap)
Leading the pack as the most valuable company in the world is Apple, with a market capitalization of $3 trillion as of January 2024. The maker of iPhones, iPads, Macbooks and other sleek gadgets continues to grow under CEO Tim Cook, who took over following the death of Steve Jobs in 2011.
Apple’s leading position reflects the company’s continued dominance in smart devices and success in growing its services offerings. Apple ventured into new categories like smartwatches, streaming music and TV, and saw strong growth in its services division from areas like warranties, Apple Pay and the App Store. With iconic products like the iPhone still going strong and new offerings like the augmented reality glasses slated for 2024, Apple shows no signs of giving up the top spot.
2. Microsoft ($2.5 Trillion Market Cap)
At number two with a market cap of $2.5 trillion is Microsoft, the venerable software company founded by Bill Gates and Paul Allen in 1975. Under CEO Satya Nadella, Microsoft has refocused on cloud computing with its Azure platform and subscription-based Microsoft 365 software suite. Nadella has also reinvigorated growth by doubling down on enterprise services and cutting-edge technologies like artificial intelligence, augmented reality, and the Internet of Things.
Microsoft continues to enjoy wide use of its Windows operating system and Office software like Excel, Word and PowerPoint. The diversification into enterprise cloud services now accounts for a sizable portion of Microsoft’s revenues and has helped it gain ground on the top tech companies. The 2020 acquisition of LinkedIn also gives Microsoft a social media presence.
3. Alphabet ($2 Trillion Market Cap)
Coming in at number three is Alphabet, the parent company of search engine giant Google, at around $2 trillion market cap. Alphabet was formed as a holding company in 2015 to separate Google’s core search, advertising and Android businesses from its wide portfolio of “moonshot” ventures like self-driving cars, smart thermostats and drone delivery.
Google’s dominance in online search and advertising ensures steady profits, while Alphabet’s growing investments in AI and emerging technologies aim to drive future growth. Alphabet has also made big moves into hardware like smartphones and smart home devices. Under the leadership of CEO Sundar Pichai, Alphabet continues to pilot innovative technologies through subsidiaries like Waymo, Verily, and Calico Labs focused on autonomous vehicles, life sciences and anti-aging research.
4. Amazon ($1.8 Trillion Market Cap)
Next on the list is e-commerce and cloud titan Amazon at around $1.8 trillion market capitalization. Founded in 1994 as an online book retailer, Amazon has vastly expanded into a diverse array of businesses under the leadership of its visionary but controversial founder and CEO Jeff Bezos.
Amazon is now the undisputed leader in the booming e-commerce industry, accounting for over 40% of U.S. online sales according to some estimates. It has leveraged its powerful distribution infrastructure to become the largest provider of cloud computing services with Amazon Web Services (AWS), which dominates the cloud space much like its online marketplace does retail. With moves into areas like media streaming, conversational AI, cashierless stores and health care, Amazon continues to shake up industry after industry.
5. Tesla ($1 Trillion Market Cap)
The fastest growing among the world’s largest companies is Tesla, the electric automaker led by billionaire Elon Musk. Tesla’s meteoric rise over the past few years has led to a market cap approaching $1 trillion in 2024, cementing its place among the world’s most valuable firms.
Tesla has led the way in electric vehicle manufacturing, driving progress through boundary-pushing innovation and uniquely not relying on conventional advertising. Investors have rewarded Tesla as the future leader in clean transport and energy solutions, with expectations that compelling models like the Model 3, Model Y, Semi Truck and Roadster will expand Tesla’s total addressable market significantly in the coming years. If its ambitious plans for battery and solar innovations succeed, Tesla could disrupt markets far beyond just vehicles.
6. Berkshire Hathaway ($700 Billion Market Cap)
At number six with a market cap of around $700 billion is the famous conglomerate Berkshire Hathaway, led by legendary billionaire investor Warren Buffett. Berkshire Hathaway owns more than 60 subsidiary companies including insurers GEICO and General Re, battery maker Duracell, restaurant chain Dairy Queen, and railroad company BNSF.
Berkshire also holds sizeable stock positions in companies like Apple, Coca-Cola, Bank of America and American Express. By combining wholly-owned subsidiaries with strategic stock holdings, Berkshire provides its investors with a diversified exposure to Warren Buffett’s famed investing acumen. At 89 years old, Buffett has achieved a cult-like following among investors who admire his patient, value-focused philosophy.
7. Visa ($500 Billion Market Cap)
The largest payments processing company Visa takes the number seven spot with a market cap of around $500 billion. Visa operates the world’s largest electronic payments network, processing trillions in purchase transactions around the globe. With a prime position in the essential business of facilitating payments and money movement, Visa benefits from the continuing shift away from cash and checks towards electronic payments.
In recent years, Visa has pushed into areas like cross-border remittances, business-to-business payments, and person-to-person payments through platforms like Venmo. It has also partnered with fintech innovators across areas like online lending, global money transfers, and digital banking. Visa aims to be more than just a credit card company and hopes to make all forms of money movement easy, fast and secure.
8. NVIDIA ($500 Billion Market Cap)
Breaking into the top ten biggest companies for the first time is semiconductor firm NVIDIA, which as of 2024 has reached a market capitalization of around $500 billion. NVIDIA has become a dominant force in graphic processing units (GPUs), which are the specialized chips used for gaming, designing, artificial intelligence, autonomous vehicles, and other computationally intensive tasks.
Under the leadership of CEO Jensen Huang, NVIDIA invested heavily in AI and cloud computing over the past decade to position itself as a key enabler of groundbreaking technologies. Its chips and software platform called CUDA allow companies to leverage AI to solve complex problems. NVIDIA’s merger of cutting-edge hardware and software has led to rapid growth as advanced technologies go mainstream.
9. Meta Platforms ($490 Billion Market Cap)
Formerly known as Facebook, Meta Platforms comes in at number nine with a market cap of close to $490 billion. Meta operates the world’s largest social network Facebook along with popular messaging apps like WhatsApp, Instagram and Messenger. The company rebranded as Meta in 2021 to reflect its growing focus on the metaverse.
Meta essentially created the modern social media industry and continues to dominate thanks to Facebook’s 2.5 billion monthly active users. But it faces challenges in engaging younger demographics, regulating harmful content, and jumpstarting its newer virtual reality and metaverse pursuits. Still, Meta’s entrenched position in social networking, messaging, and online ads ensures its place among the world’s biggest firms.
10. Alibaba ($450 Billion Market Cap)
Chinese e-commerce group Alibaba takes the tenth spot with an estimated market cap of $450 billion. Founded in 1999, Alibaba operates online and mobile marketplaces connecting hundreds of millions of buyers and sellers across China and beyond. Alibaba companies like Taobao and Tmall command over half of all e-commerce volume in China, making Alibaba a vital player in the world’s largest retail market.
Alibaba has also expanded into cloud computing, digital payments, entertainment production, logistics and other emerging businesses. While increased government regulation has impacted growth over the past year, Alibaba boasts an entrenched position in Chinese online commerce and continues to cultivate new innovations across a growing array of industries.
11. Saudi Aramco ($2 Trillion Valuation)
Saudi Aramco, officially known as Saudi Arabian Oil Company, is the state-owned oil producer of the Kingdom of Saudi Arabia. With estimated reserves of over 200 billion barrels and production capacity exceeding 12 million barrels per day, Saudi Aramco is the world’s largest oil and gas company.
While not a public company, Saudi Aramco’s estimated valuation would make it the world’s most valuable company at over $2 trillion. Saudi Aramco operates across the entire oil and gas value chain, from exploration to production to refining and chemicals manufacturing. It manages Saudi Arabia’s massive hydrocarbon resources and generates major exports that fuel the Saudi economy.
Despite growing global efforts to transition to clean energy, oil and gas are expected to remain essential to the functioning of modern civilization for decades to come. With OPEC controlling supply and Saudi Aramco owning cheap-to-extract reserves, the oil giant seems poised to maintain immense value even as new energy technology emerges.
12. Toyota ($250 Billion Market Cap)
Toyota Motor Corporation comes in at number twelve with a valuation of approximately $250 billion. Toyota is the Japanese auto manufacturer that created the lean manufacturing system and became the world’s largest automaker in 2020, surpassing rivals Volkswagen and General Motors.
Toyota benefits from its strong reputation for reliability, quality and safety across its flagship Toyota and Lexus brands. Hybrid electrified models like the Prius and RAV4 Hybrid remain popular among consumers seeking great gas mileage. Looking ahead, Toyota plans to invest $70 billion in electric and autonomous vehicles over the next decade to maintain its competitive edge. With a diverse global footprint and continued focus on efficiency, Toyota remains a titan among the old guard automakers.
Conclusion
The world’s largest multinational corporations wield enormous influence across the global economic landscape. The trillion-dollar valuations of companies like Apple, Microsoft, Alphabet and Amazon reflect their domination of the technology industry as it continues to permeate more aspects of business and daily life. E-commerce giants like Amazon and Alibaba are transforming how goods and services are bought and sold using the power of the internet.
At the same time, legacy energy and automotive firms like Aramco and Toyota maintain their grasp on vital industrial sectors. And giants like Berkshire Hathaway and Visa occupy key positions in the financial ecosystem.
As the pace of change accelerates, the ranking of the world’s top companies promises to keep evolving. But these powerful giants will continue playing a leading role in shaping the future through the products, services and infrastructures that define progress for societies worldwide. Their success reflects how harnessing technology and innovation can unlock immense value in meeting customer needs and elevating standards of living globally.