Forbes Releases 20th Annual Global 2000 Ranking Of The World’s Largest Companies

Banks, energy firms and airlines top the list of the world’s largest public companies as part of the Forbes Global 2000 list, which marks its 20^th anniversary this year

NEW YORK – June 8, 2023: Forbes today releases its 20^th annual edition of the Global 2000, which for the past two decades has ranked the largest companies in the world using four metrics: sales, profits, assets, and market value.

Collectively, the companies on the 2023 Global 2000 account for $50.8 trillion in revenue, $4.4 trillion in profit, $231 trillion in assets and $74 trillion in market cap. There are 58 countries represented on the 2023 list, led by the United States with 611 companies, China & Hong Kong with 346, Japan with 192, the United Kingdom with 67 and South Korea with 59.

JPMorgan Chase, America’s largest bank, took the No. 1 spot for the first time since 2011, jumping from its No. 4 spot last year. The bank dethroned Berkshire Hathaway, which fell all the way to No. 338 due to a net loss of $22.8 billion caused by declines in its investment portfolio.

Saudi Aramco (No. 2), the Industrial and Commercial Bank of China (No. 3) and China Construction Bank (No.4) take the next three spots, with Agricultural Bank of China moving up three spots to No. 5.

In recognition of the 20^th anniversary of the Global 2000 ranking, Forbes also announces the Global 2000 Hall of Fame, which celebrates the companies that have been included on the ranking since the inaugural list in 2003, though there’s been plenty of turnover within the ranks. There are 648 companies that are honored on the Hall of Fame including Apple (No. 6 this year), who ranked No. 963 in 2003; Amazon (No. 36), No. 1,178 among others. The top three 20 years ago – Citigroup, General Electric and American International Group – are all out of the top 20 now.

Highlights include:

– There was a big boost for energy companies with elevated oil and gas prices lifting sales and profits. Exxon Mobil (No.8), Shell (No.11), Chevron (No.18) and BP (No.28) all moved up in the rankings.

– Airlines also did well with travel rebounding toward pre-pandemic levels. Delta (No. 342), United (No. 397) and American Airlines (No. 536) all moved up at least 200 spots.

– Noteworthy newcomers this year include Corebridge Financial – the largest U.S. IPO of the year, debuting at No. 345.

– This spring’s bank crisis caused some notable drop-offs – SVB Financial Group (No. 562 last year), First Republic Bank (No. 661 last year) and Signature Bank (No. 858 last year) all closed and fell off the list. One of the biggest beneficiaries was First Citizens Bancshares, which acquired SVB from FDIC control, moving up to No. 815 from No. 1,468.

Methodology

The Global 2000 list is compiled using data from FactSet Research systems to screen for the biggest public companies in four metrics: sales, profits, assets and market value. The market value calculation is as of May 5, 2023, closing prices and includes all common shares outstanding. All figures are consolidated and in U.S. dollars.

For the complete list and more, visit www.forbes.com/global2000

Media Contacts:

U.S. – Christina Vega Magrini at [email protected] or Jocelyn Swift at [email protected]

Europe – Emma Stanworth at [email protected]

Licensing Contacts:

Lauren Guzman & Jessica Stremmel at [email protected]