In 2025, a handful of corporations will have reached market valuations so large that their combined worth exceeds the GDP of most nations. These businesses are market leaders whose stock performance reflects steady growth, strong earnings, and the trust of millions of investors. Technology firms dominate the top ranks, but energy giants, financial powerhouses, and consumer brands also hold their ground with impressive revenue streams and innovative strategies.
The richest companies in the world have built their success on more than hype. They focus on recurring revenue, solid fundamentals, and long-term planning. Companies like Nvidia, Microsoft, and Apple have seen their market caps soar thanks to innovation in AI, cloud computing, and consumer products. Meanwhile, Saudi Aramco and Berkshire Hathaway prove that traditional sectors still command respect and value in global markets.
This article will examine the richest companies in the world as measured by market cap and what drives their financial performance.
Understanding Corporate Wealth: Beyond Market Cap
When people discuss the richest companies in the world, they typically refer to market capitalization, but this figure alone does not tell the complete story. Market cap represents what investors collectively believe a company is worth based on its stock price. While it provides a quick snapshot of size, it leaves out critical details about how a business generates money and sustains growth.​
What Market Cap Actually Measures?
Market capitalization is calculated by multiplying the current stock price by the total number of outstanding shares. If a company has 100 million shares trading at $50 each, its market cap equals $5 billion. This number fluctuates constantly as stock prices move throughout the trading day.​
However, market cap only reflects equity value. It shows what shareholders own but ignores company debts, cash reserves, and financial obligations. Two companies with identical market caps might operate under vastly different economic conditions, one loaded with debt, the other sitting on billions in cash.​
Why Business Models and Diversification Drive Wealth?
A company’s business model explains how it generates revenue through direct sales, subscriptions, advertising, or enterprise services. Diversification spreads risk across multiple revenue streams, allowing companies to offset losses in one area with gains in another. This stability makes them more attractive to investors and supports higher valuations.​
Innovation also drives long-term wealth creation. Companies that invest heavily in research and development secure patents, develop advanced products, and maintain competitive advantages, translating into pricing power and sustained profitability. Operating globally further reduces dependence on single markets and provides access to billions of potential customers.
The 20 Richest Companies in the World (2025)
1. Nvidia
- Market Cap: $4.2 trillion
- Revenue: $75.8 billion (FY2025)
- Profit: $36.5 billion
- Assets: $210 billion
- Industry: AI Semiconductors and Computing
- Headquarters: Santa Clara, California
- CEO: Jensen Huang (Founded 1993)
Nvidia began 1993 with just $40,000 and three engineers meeting at a Denny’s in San Jose. Today, it stands among the richest companies in the world, leading the global semiconductor industry. Initially focused on graphics processors for video games, the company found its breakthrough when those same chips became vital for machine learning.
Its business model revolves around designing and manufacturing high-performance GPUs, with revenue from chip sales, software licensing, and cloud computing services. Nvidia has diversified into gaming, automotive technology, and robotics while partnering with TSMC for production. With around 80% market share, it continues to dominate through innovation and scale.
2. Microsoft
- Market Cap: $3.77 trillion
- Revenue: $281.7 billion (FY2025)
- Profit: $101.8 billion
- Assets: $533.9 billion
- Industry: Cloud Computing, Software, Artificial Intelligence
- Headquarters: Redmond, Washington
- CEO: Satya Nadella (Founded 1975)
Since 2014, Microsoft has evolved from a software licensing company into a global cloud infrastructure leader under Satya Nadella, securing its place among the richest companies in the world. Its business model now blends subscriptions, cloud services, and enterprise partnerships.
Key revenue streams include Office 365, Azure hosting, Xbox gaming, enterprise security, and licensing. Azure surpassed $75 billion in fiscal 2025, growing 34 percent with rising AI workload demand. The Microsoft Cloud division earned $168.9 billion, up 23 percent year-over-year. With over 400 data centers worldwide and $80 billion committed to expansion, Microsoft’s shift to recurring subscriptions ensures steady cash flow, funding large-scale
3. Apple
- Market Cap: $3.41 trillion
- Revenue: $408.6 billion (TTM)
- Profit: $96.15 billion
- Assets: $364.98 billion
- Industry: Consumer Electronics, Services, Wearables
- Headquarters: Cupertino, California
- CEO: Tim Cook (Founded 1976)
Apple remains one of the richest companies in the world, generating revenue from multiple segments: iPhone (51%), Services (25%), Wearables (9%), Mac (8%), and iPad (7%). Its ecosystem links hardware sales to recurring services income.
Services revenue reached $108.6 billion in fiscal 2025, up 13%, with margins above 70%, driven by the App Store, Apple Music, iCloud, Apple TV+, Apple Pay, and advertising. Apple benefits from powerful network effects with 2.35 billion active devices and over one billion subscriptions. Its strategy pairs premium hardware pricing with buybacks and dividends, using steady cash flow to sustain growth and shareholder returns even in slower years.
4. Alphabet/Google
- Market Cap: $2.58 trillion
- Revenue: $318.15 billion (TTM)
- Profit: $82.41 billion
- Assets: $475.37 billion
- Industry: Internet Services, Advertising, Cloud Computing
- Headquarters: Mountain View, California
- CEO: Sundar Pichai (Founded 1998)
Alphabet, one of the richest companies in the world, operates as a holding company overseeing Google and its other ventures. Google contributes 71 percent of revenue through advertising, including Google Search, YouTube, and Google Network ads. Additional income comes from Google Cloud ($43.23 billion), subscriptions, devices, and other bets such as autonomous vehicles and healthcare.
Google Search handles 8.5 billion daily queries, while YouTube reaches 2 billion monthly users. Google Cloud grew 32 percent in 2024, rivaling AWS and Azure. Alphabet’s portfolio includes Waymo, Verily, Nest, and Fitbit, with global operations across 90 countries and heavy investment in AI infrastructure and quantum computing research worth $85 billion in 2025.
5. Amazon
- Market Cap: $2.34 trillion
- Revenue: $670 billion (TTM)
- Profit: $59.25 billion
- Assets: $624.89 billion
- Industry: E-commerce, Cloud Computing, Advertising
- Headquarters: Seattle, Washington
- CEO: Andy Jassy (Founded 1994)
Amazon is among the richest companies in the world, operating through three major revenue streams: online retail (50%), third-party marketplace fees (23%), and AWS cloud services (15%). With $123 billion in annualized revenue and 30% operating margins, AWS far outpaces retail’s 4%.
Diversification spans Prime Video, Whole Foods, advertising, logistics, and AI-driven shopping tools. Capital spending reached $31.4 billion in Q2 2025, focused on AI infrastructure, custom chips, and data centers. Its logistics network drives faster delivery and lower costs, creating a self-reinforcing flywheel that powers growth across retail, cloud, and advertising segments worldwide.
6. Meta Platforms
- Market Cap: $1.85 trillion
- Revenue: $178.8 billion (TTM)
- Profit: $18.3 billion (Q2 2025)
- Assets: $276 billion
- Industry: Digital Advertising, Social Media, Artificial Intelligence
- Headquarters: Menlo Park, California
- CEO: Mark Zuckerberg (Founded 2004)
Meta is yet another addition to the list of the richest companies in the world. It operates social networks with 3.48 billion daily active users across Facebook, Instagram, WhatsApp, and other apps. About 98 percent of revenue comes from advertising, driven by personalized content and ad matching. In Q2 2025, Meta reported $47.52 billion in revenue, up 22 percent year over year, and $18.34 billion in net income, a 36 percent profit gain.
Advertising contributed $46.6 billion, rising 21 percent. Capital spending is projected at $66 billion for 2025, nearly double last year, reflecting investments in data center infrastructure. Operating in over 180 countries, Meta earns significantly higher revenue per user in the US than in emerging markets. Beyond advertising, it develops virtual reality devices, metaverse projects, and enterprise tools, and faces ongoing regulatory scrutiny in significant markets.
7. Saudi Aramco
- Market Cap: $1.53 trillion
- Revenue: $480.2 billion (H1 2025)
- Profit: $50.9 billion (H1 2025 adjusted)
- Assets: $645.03 billion
- Industry: Oil and Gas, Energy, Petrochemicals
- Headquarters: Dhahran, Saudi Arabia
- CEO: Amin H. Nasser (Founded 1933)
Saudi Aramco stands among the richest companies in the world, operating as the largest integrated energy firm with upstream and downstream segments across the oil and gas chain. Upstream activities handle exploration and production from vast crude reserves, while downstream operations cover refining, petrochemicals, and global fuel distribution.
In the first half of 2025, Aramco posted $50.9 billion in adjusted net income and $59.3 billion in operating cash flow. The company paid $21.1 billion in dividends, backed by disciplined capital spending of $25.5 billion. Diversification extends to specialty chemicals, renewables, and joint ventures worldwide. Aramco strengthened global visibility through its Formula 1 partnership, highlighting innovation and brand influence.
8. Broadcom
- Market Cap: $1.4 trillion
- Revenue: $57 billion (TTM)
- Profit: $40 billion (gross)
- Assets: $165.6 billion
- Industry: Semiconductors, Infrastructure Software
- Headquarters: Palo Alto, California
- CEO: Hock E. Tan (Founded 1961, transformed 2005)
Broadcom operates two major segments: Semiconductor Solutions (58% of revenue) and Infrastructure Software (42%). The semiconductor business manufactures custom XPUs for hyperscalers, networking chips under the Tomahawk platform, and wireless connectivity solutions. Infrastructure Software stems from the $69 billion VMware acquisition, expanding into cybersecurity, enterprise virtualization, and mainframe software.
Strategic acquisitions transformed Broadcom into a diversified infrastructure provider with over $110 billion in backlog orders. Integration of VMware enhances margins, while global operations across Asia, California, Taiwan, and Israel support growth through partnerships and advanced data center technologies.
9. Taiwan Semiconductor Manufacturing Company (TSMC)
- Market Cap: $1.45 trillion
- Revenue: $111.7 billion (TTM)
- Profit: $65.4 billion
- Assets: $239.88 billion
- Industry: Semiconductor Manufacturing, Foundry Services
- Headquarters: Hsinchu, Taiwan
- CEO: C.C. Wei (Founded 1987)
TSMC is a pure-play semiconductor foundry that manufactures advanced chips designed by Nvidia, Apple, AMD, and other fabless companies. It turned chip production into a specialized technology business through world-leading 3-nanometer and 5-nanometer processes, with 2-nanometer in development. These enable AI accelerators, smartphone processors, and high-performance computing chips.
Apple, Qualcomm, and GPU makers form key revenue sources. Diversification spans advanced packaging, automotive semiconductors, and analog chips. With major facilities in Taiwan and expansion in the US, Japan, and Europe, TSMC leads global chipmaking through heavy R&D investment, unmatched production yields, and vital geopolitical significance in AI chip supply.
10. Berkshire Hathaway
- Market Cap: $1.08 trillion
- Revenue: $371.433 billion (2024)
- Profit: $88.995 billion (2024)
- Assets: $1.153 trillion
- Industry: Conglomerate, Insurance, Investments
- Headquarters: Omaha, Nebraska
- CEO: Warren Buffett (until January 2026, then Greg Abel)
- Founded: 1839 (textile company), transformed in 1965
Berkshire Hathaway ranks among the richest companies in the world, operating as a diversified conglomerate with over 60 subsidiaries. Its core insurance operations, including GEICO and General Re, generate $75.65 billion in revenue and provide investment float for Buffett’s $259 billion equity portfolio, featuring Apple, Bank of America, and American Express.
Additional income comes from wholly owned businesses across railroads, utilities, manufacturing, retail, and energy. With significant holdings like BNSF Railroad and Berkshire Energy, Berkshire’s strategy focuses on acquiring entire companies at fair prices, using large cash reserves for opportunistic deals and disciplined capital allocation that fuels long-term growth.
11. Tesla
- Market Cap: $1.08 trillion
- Revenue: $28.1 billion (Q3 2025)
- Profit: $1.4 billion (Q3 2025)
- Assets: [Manufacturing infrastructure, inventory, cash]
- Industry: Electric Vehicles, Energy Storage, Autonomous Driving
- Headquarters: Austin, Texas
- CEO: Elon Musk (Founded 2003)
Tesla manufactures electric vehicles, energy storage systems (Powerwall, Megapack), and solar products. Q3 2025 revenue reached $28.1 billion, with record production but a 37% profit decline from pricing pressure and tariffs. Despite lower margins, deliveries hit new highs.
Valuation reflects expectations for growth in robotaxi services, Optimus robots, and energy storage. Elon Musk called Full Self-Driving the company’s main value driver. Tesla’s lineup spans Model S/X, 3/Y, Cybertruck, Semi, and solar products, with global factories and in-house battery and chip production. Heavy investment in AI hardware, autonomy, and robotics supports long-term growth beyond vehicle profitability.
12. JPMorgan Chase
- Market Cap: $493 billion
- Revenue: $186.7 billion (2024)
- Profit: $49.5 billion (2024)
- Assets: $4.1 trillion
- Industry: Investment Banking, Commercial Banking, Wealth Management
- Headquarters: New York, New York
- CEO: Jamie Dimon (Founded 1799 as precursor institutions)
JPMorgan Chase operates as a diversified financial services giant through three main segments: Corporate and Investment Banking (advising on M&A, capital markets services), Commercial Banking (business lending and cash management), and Asset and Wealth Management ($2.8 trillion in assets under management).
Revenue sources include net interest margins on deposits and loans, advisory fees for M&A transactions, trading commissions, wealth management fees, and credit card interchange. The bank maintains 300+ branches across the US and an international presence in 60+ countries.
Diversification includes retail banking, wholesale banking, investment management, and private equity operations. JPMorgan maintains deposit bases from consumers and corporations that fund lending operations. Its strong capital position enables countercyclical investing during market downturns, reinforcing its place among the richest companies in the world.
13. Walmart
- Market Cap: $821 billion
- Revenue: $648.1 billion (FY2025)
- Profit: $18.1 billion
- Assets: [Stores, inventory, supply chain]
- Industry: Retail, E-commerce, Supply Chain
- Headquarters: Bentonville, Arkansas
- CEO: Doug McMillon (Founded 1962)
Walmart operates 10,500+ retail stores across 24 countries, making it the world’s largest retailer. The business model combines high-volume, low-margin retail sales with e-commerce platforms, advertising services, and marketplace commissions. Wholesale Club division (Sam’s Club) provides B2B purchasing.
Revenue from product sales (grocery, clothing, electronics, home goods) dominates, supplemented by growing advertising revenues from third-party sellers marketing through Walmart’s platform. Supply chain sophistication creates cost advantages in inventory management and distribution.
14. Oracle
- Market Cap: $822 billion
- Revenue: $57.9 billion (FY2025)
- Profit: $24.8 billion
- Assets: $168 billion
- Industry: Enterprise Software, Cloud Computing, Databases
- Headquarters: Austin, Texas
- CEO: Safra Catz & Mark Hurd (Founded 1977)
Oracle dominates enterprise database software and cloud infrastructure markets. Revenue comes from software licenses, cloud services, and support contracts. The business model shifted toward subscription-based cloud services, providing recurring revenue.
Diversification includes enterprise resource planning (ERP) software, human capital management (HCM), customer relationship management (CRM), and cloud infrastructure competing with AWS and Azure. Customer contracts provide multi-year revenue visibility.
15. Tencent
- Market Cap: $773 billion
- Revenue: $89.8 billion (2024)
- Profit: $24.7 billion
- Assets: $237 billion
- Industry: Internet Services, Gaming, Social Media
- Headquarters: Shenzhen, China
- CEO: Ma Huateng (Founded 1998)
Tencent operates as one of the richest companies in the world, leading China’s internet sector through WeChat (890M+ users), gaming platforms, cloud services, and investments in other internet companies. WeChat serves as a payment platform, social network, and app marketplace.
Revenue sources include online games (the most significant revenue segment), social media advertising, cloud services, fintech (WeChat Pay), and venture investments. Market dominance in China provides scale advantages, though regulatory restrictions limit expansion.
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16. Eli Lilly
- Market Cap: $722 billion
- Revenue: $42.2 billion (2024)
- Profit: $12.9 billion
- Assets: $179 billion
- Industry: Pharmaceutical Manufacturing, Biotechnology
- Headquarters: Indianapolis, Indiana
- CEO: David Ricks (Founded 1876)
Eli Lilly manufactures prescription pharmaceuticals and biologic medicines. Revenue depends on patent-protected drug sales, including GLP-1 drugs for diabetes and weight loss (competing with Ozempic), cancer treatments, immunology medicines, and neuroscience products.
The business model relies on blockbuster drugs with 10-12 years of patent protection before generic competition. R&D spending (15% + revenue) funds drug development pipelines. Manufacturing and distribution across 140+ countries reduces geographic risk.
17. Visa
- Market Cap: $658 billion
- Revenue: $47.8 billion (FY2025)
- Profit: $22.4 billion
- Assets: $115 billion
- Industry: Payment Processing, Financial Services
- Headquarters: San Francisco, California
- CEO: Ryan McInerney (Founded 1958, went public 2008)
Visa operates the world’s largest payment network, making it one of the richest companies in the world. The company processes $12+ trillion in transaction volume annually across 200+ countries. The revenue model charges transaction fees on every card swipe or online payment.
The business model generates recurring revenue regardless of economic conditions; people must spend to pay bills and buy necessities. Visa earns fees without assuming credit risk (banks assume that risk) or funding transactions.
18. Mastercard
- Market Cap: $514 billion
- Revenue: $26.7 billion (2024)
- Profit: $11.3 billion
- Assets: $107 billion
- Industry: Payment Processing, Financial Services
- Headquarters: Purchase, New York
- CEO: Michael Miebach (Founded 1966, IPO 2006)
Mastercard operates a similar payment network to Visa, with 2.2B+ cards issued globally. Revenue depends on transaction volume, interchange fees, and data analytics services. The network operates in 210+ countries.
19. Netflix
- Market Cap: $509 billion
- Revenue: $39.1 billion (2024)
- Profit: $7.1 billion
- Assets: $68 billion
- Industry: Streaming Entertainment, Content Production
- Headquarters: Los Gatos, California
- CEO: Greg Peters & Ted Sarandos (Founded 1997, IPO 2002)
Netflix, one of the richest companies in the world, operates a subscription video streaming service with over 300 million subscribers globally. Its revenue model shifted from DVD rentals to monthly subscriptions ($6.99–$22.99 depending on tier and region). The business model combines licensed content from studios with original programming production. Streaming data enables personalized recommendations that drive retention and reduce churn, while global expansion into 190+ countries diversifies its geographic revenue.
20. ExxonMobil
- Market Cap: $481 billion
- Revenue: $413 billion (2024)
- Profit: $38.7 billion
- Assets: $378 billion
- Industry: Oil and Gas, Energy, Refining
- Headquarters: Spring, Texas
- CEO: Darren Woods (Founded 1870 as Standard Oil, ExxonMobil formed 1999)
ExxonMobil operates integrated oil and gas operations combining upstream exploration and production with downstream refining and chemical manufacturing. Revenue depends on global oil and natural gas prices, production volumes, and refining margins. The business model captures value across the energy value chain, from extraction through production to sales at the pump and chemical products. The company operates in 50+ countries with proven reserves sufficient for 15+ years of production.
The Geography of Wealth: Why American Companies Dominate
American companies occupy 17 of the top 20 richest companies in the world. This concentration reflects specific structural advantages driving wealth creation.​
1. Silicon Valley Dominance
Silicon Valley hosts 30+ Fortune 1000 technology companies, including Apple, Google, Meta, and Visa. The region attracts 49 percent of all US Big Tech engineers and contains 84 billionaires, the highest concentration globally. Historical factors include Stanford and UC Berkeley producing thousands of engineers annually, venture capital concentration funding startups, and a risk-taking culture that attracts talent and capital.​
2. Other Technology Hubs
Texas, Washington, and New York host competing technology sectors. Seattle houses Amazon and Microsoft. Austin hosts Tesla and Oracle. New York concentrates fintech and venture capital.​
3. Non-American Players
Only three non-Americans occupy the top 20 richest companies in the world: Saudi Aramco (energy), TSMC (semiconductors), and Tencent (consumer internet). Saudi Aramco represents traditional energy wealth. TSMC dominates through manufacturing technology. Tencent captured China’s consumer market early.​
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Why American Technology Leads?
US companies generate 73 percent of the global information technology sector value. Advantages include a robust venture capital system funding startups, the US dollar serving as international reserve currency, strong patent protections encouraging innovation, and a sizeable domestic market providing testing grounds for new products. Cultural acceptance of business failure encourages risk-taking.​
Conclusion
The richest companies in the world share a common trait: they built dominance through innovation, diversification, and defensible competitive advantages. Nvidia leads AI hardware. Microsoft mastered cloud computing. Apple created an unbreakable ecosystem. These companies maintain wealth through sustained execution, continuous R&D investment, and reinvested profits. The concentration in American firms reflects decades of venture capital, education, and risk-taking culture. Yet companies from Saudi Arabia, Taiwan, and China prove global dominance remains possible for those willing to innovate at scale.
