Top 10 richest companies in the world in 2024
In the post-pandemic era, the major game players in the global market have reshuffled with the change in consumer behavior, placing these companies as the world’s top 10 richest companies in 2024.
With the looming inflation and the volatile landscape of the economy worldwide, shedding light on the top earning companies by market cap for 2024 can provide valuable understanding for investors and market enthusiasts.
The annual list of the most valuable companies in 2024 significantly evolved from the 2020, 2021 and 2022 lists of the leading global companies, showing companies that soared during the pandemic, such as Netflix and PayPal, have lost their ranking in the top 10.
These digital behemoths had gained more customers in that period when people stayed home and opted for online shopping, digital payments and watching and streaming on platforms. But times have changed.
Understanding market capitalization
In stock market terminology, market capitalization or market cap is a way to measure a company’s overall value based on the significant shares of stock.
Often, investors determine public interest and the company’s stability and strength by using market cap. An entity’s market cap normally veers with its shared price, making it one of the most popular metrics used to analyze the operations of the world’s wealthiest businesses.
Top 10 richest companies in the world by market cap in 2024
A view shows a Microsoft logo at Microsoft France headquarters in Issy-les-Moulineaux near Paris, France, January 25, 2023. REUTERS/Gonzalo Fuentes
- Microsoft
- Apple
- Nvidia
- Saudi Aramco
- Alphabet (Google)
- Amazon
- Meta
- Berkshire Hathaway
- Eli Lilly
- TSMC
1. Microsoft – $3.1 trillion
- Revenue based on the latest report: $236.58 billion
- Products: Windows Operating System, Microsoft Office, laptops, Xbox and search engine
- Country: USA
Microsoft Corporation has emerged as the top global company with the highest revenue in 2024, showcasing its flagship Windows OS and Office Suite as the leader in computer systems.
Apart from its software, the world’s wealthiest company also ventures into hardware and cloud computing, solidifying its rank with future endeavors in AI and cloud technology.
2. Apple – $2.68 trillion
FILE PHOTO: The Apple Inc logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, U.S., October 16, 2019. REUTERS/Mike Segar/File Photo
- Revenue based on the latest report: $90.75 billion
- Products: iPhone, MacBooks, iPad and iPod
- Country: USA
Apple is renowned for its gadgets, products and continuous innovation testing tech boundaries. Beyond the tech giant’s innovative design and premium quality offerings, Apple is also eyeing expansion of wearables and services set to drive future sustainable growth.
3. Nvidia – $2.21 trillion
The logo of Nvidia Corporation is seen during the annual Computex computer exhibition in Taipei, Taiwan May 30, 2017. REUTERS/Tyrone Siu
- Revenue based on the latest report: $60.9 billion
- Products: Graphics processing units, AI platforms like Google’s Bard and OpenAI’s ChatGPT
- Country: USA
Thanks to its progressive stand-alone GPUs (Graphics Processing Units), Nvidia has soared from 6th place last year to third place in 2024.
Looking at the current trend, the growing demand for AI and high-performance systems is here to stay and poised to strengthen Nvidia’s market position in the coming years.
4. Saudi Aramco – $2.01 trillion
- Revenue based on the latest report: $27.3 billion
- Products: crude oil, natural gas and petrochemical derivatives
- Country: Saudi Arabia
The oil titan, Saudi Aramco is an essential pillar of Saudi Arabia’s economy, with its vast oil reserves.
For Aramco to continue its reign, strategic investments in renewable energy and persistent dominance in the oil sector are key factors.
5. Alphabet (Google) – $1.84 trillion
FILE — A sign is shown on a Google building at their campus in Mountain View, Calif., on Sept. 24, 2019. On Friday, April 12, 2024, Google announced it was testing removing links to California news websites from some people’s search results. The search giant said it was preparing in case the Legislature passed a bill requiring it to pay media companies a fee for linking to its content. (AP Photo/Jeff Chiu, File)
- Revenue based on the latest report: $318.15 billion
- Products: operating system, search engine, and mobile phones
- Country: USA
Holding a diverse portfolio from search engines, hardware to cloud computing and online advertising, Google’s parent company Alphabet Inc., strengthened its name as a digital powerhouse.
Its innovation in AI and ubiquitous online presence secured its position as one of the top earning companies in 2024.
6. Amazon – $1.81 Trillion
The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, February 20, 2017. REUTERS/Pascal Rossignol
- Revenue based on the latest report: $143.3 billion
- Products: Echo, Kindle, FireTV and Software
- Country: USA
While Amazon reigns as the world’s largest e-commerce business, they also excel in digital streaming, AI and cloud computing. As a major player by market cap, the e-commerce king sets its place in the lineup of the leading global companies of 2024.
The future is also looking bright for Amazon, with their continuous expansion and ventures into new markets and technologies — an outlook for sustained growth.
7. Meta (Facebook) – $1.26 trillion
A security guard stands watch by the Meta sign outside the headquarters of Facebook parent company Meta Platforms Inc in Mountain View, California, U.S. November 9, 2022. REUTERS/Peter DaSilva
- Revenue based on the latest report: $36.46 billion
- Products: Messenger and Facebook, Instagram, WhatsApp and Oculus Metaverse
- Country: USA
Formerly Facebook Inc., Meta owns the social media platforms Instagram and WhatsApp.
This social media behemoth is also the brains behind Oculus, a concept of metaverse. Meta’s visions on virtual reality and meta verse positions them for more success as one of the world’s richest companies.
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8. Berkshire Hathaway – $883.7 billion
- Revenue based on the latest report: $89.87 billion
- Products: Casualty and property insurance, varied investments
- Country: USA
Run by the legendary Warren Buffett, this diversified investment company holds a vast portfolio of businesses. The company’s variegated portfolio and strong leadership ensured Berkshire Hathaway’s continuous prominence.
9. Eli Lilly – $724.6 billion
An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. REUTERS/Mike Segar
- Revenue based on the latest report: $35.93 billion
- Products: Medicines and pharmaceutical needs
- Country: USA
As a pharmaceutical giant offering a wide range of medicines, Eli Lilly and Company expanded its presence in more than 125 countries, with offices in 18 countries.
Their expansions in international markets and innovations will continue to drive Eli Lilly’s growth.
10. Taiwan Semiconductor (TSMC) – $708.75 billion
A 12-inch wafer is seen at Taiwan Semiconductor Manufacturing Co. (TSMC) in Hsinchu June 15, 2010. REUTERS/Pichi Chuang
- Revenue based on the latest report: $72.71 billion
- Products: Solar panels, integrated circuits, small signal transistors and related products
- Country: USA
Taiwan Semiconductor Manufacturing Company (TSMC) is the world’s biggest independent semiconductor foundry and the third largest semiconductor manufacturer next to Samsung and Intel.
As a major supplier for electronic devices, TSMC’s rank in the tech industry and as one of the world’s richest companies in 2024 was secured by their strategic partnerships and manufacturing capacities.
