As we navigate the dynamic terrain of global commerce in 2023, the towering influence of the world's top 30 companies stands out. These corporate behemoths, from diverse global regions, are not just financial powerhouses in terms of revenue; they're also major employment drivers. This essay explores the enthralling realm of these economic juggernauts, spotlighting their revenues, employee strength, and their profound effects on the world economy.
In 2023, the cumulative revenue of the globe's 30 mightiest companies reached a staggering $9.72 trillion, underscoring their formidable economic dominance. This elite group spans various sectors, from retail titans such as Walmart and Amazon to energy powerhouses like Saudi Aramco and Exxon Mobil. The landscape is enriched by the presence of tech trailblazers like Apple and Alphabet, alongside automotive giants Volkswagen and Toyota, each etching their supremacy in distinct domains. Listing the giant companies in descending order of 2023 revenue:
- Walmart Inc. - $630.79 Billion
- Saudi Aramco - $551.95 Billion
- Amazon.com Inc. - $538.05 Billion
- State Grid - $530.01 Billion
- China National Petroleum - $483.02 Billion
- Sinopec Group - $471.15 Billion
- Apple Inc. - $383.93 Billion
- Exxon Mobil Corporation - $364.12 Billion
- Shell plc - $358.59 Billion
- UnitedHealth Group Inc. - $348.52 Billion
- Berkshire Hathaway Inc. - $332.94 Billion
- CVS Health Corporation - $330.92 Billion
- Trafigura Group - $318.48 Billion
- China State Construction Engineering - $305.88 Billion
- Alphabet Inc. - $289.53 Billion
- Volkswagen AG - $287.71 Billion
- McKesson Corporation - $276.71 Billion
- Toyota Motor Corporation - $267.74 Billion
- AmerisourceBergen Corporation - $247.54 Billion
- TotalEnergies SE - $238.68 Billion
- Costco Wholesale Corporation - $235.44 Billion
- BP plc - $228.98 Billion
- Glencore PLC - $228.96 Billion
- Uniper SE - $226.49 Billion
- Chevron Corporation - $214.09 Billion
- Microsoft Corporation - $211.92 Billion
- Hon Hai Precision Industry Co. Ltd. - $205.92 Billion
- Stellantis N.V. - $205.07 Billion
- Cardinal Health Inc. - $205.01 Billion
- Samsung Electronics Co. Ltd. - $204.47 Billion
These corporate giants are more than just financial behemoths; they stand as pillars of global employment. Collectively, they bolster the global economy with a staggering 12.3 million employees. At the forefront is Walmart, a veritable employment titan with over 2.2 million individuals under its banner, closely trailed by Amazon's impressive 1.6 million-strong workforce. These numbers not only speak volumes about their role in job creation but also highlight the profound impact these corporations have on shaping the dynamics of the global workforce. Here is the list with their approximate employee numbers:
- Walmart Inc. (NYSE:WMT): Over 2.2 million employees
- Saudi Aramco (TADAWUL:2222): Approximately 79,800 employees
- Amazon.com Inc. (NASDAQ:AMZN): Over 1.6 million employees
- State Grid: Approximately 1.5 million employees
- China National Petroleum: Over 1.3 million employees
- Sinopec Group: Over 400,000 employees
- Apple Inc. (NASDAQ:AAPL): Approximately 154,000 employees
- Exxon Mobil Corporation (NYSE:XOM): About 72,000 employees
- Shell plc (NYSE:SHEL): Approximately 82,000 employees
- UnitedHealth Group Inc. (NYSE:UNH): About 330,000 employees
- Berkshire Hathaway Inc. (NYSE:BRK-B): Over 360,000 employees
- CVS Health Corporation (NYSE:CVS): Around 300,000 employees
- Trafigura Group: Employee numbers not widely published
- China State Construction Engineering: Over 270,000 employees
- Alphabet Inc. (NASDAQ:GOOGL): Over 150,000 employees
- Volkswagen AG (ETR:VOW3): About 662,600 employees
- McKesson Corporation (NYSE:MCK): Approximately 80,000 employees
- Toyota Motor Corporation (NYSE:TM): Over 360,000 employees
- AmerisourceBergen Corporation (NYSE:ABC): Around 22,000 employees
- TotalEnergies SE (NYSE:TTE): About 105,000 employees
- Costco Wholesale Corporation (NASDAQ:COST): Approximately 288,000 employees
- BP plc (NYSE:BP): About 70,100 employees
- Glencore PLC (LON:GLEN): Approximately 160,000 employees
- Uniper SE (ETR:UN01): Around 11,000 employees
- Chevron Corporation (NYSE:CVX): About 47,736 employees
- Microsoft Corporation (NASDAQ:MSFT): Over 181,000 employees
- Hon Hai Precision Industry Co. Ltd. (TPE:2317): Over 800,000 employees
- Stellantis N.V. (NYSE:STLA): About 400,000 employees
- Cardinal Health Inc. (NYSE:CAH): Approximately 44,000 employees
- Samsung Electronics Co. Ltd. (KRX:005930): Over 267,000 employees
An intriguing aspect of this economic landscape is the regional dominance, particularly by companies from the USA and China. USA-based companies, with giants like Amazon, Apple, and Exxon Mobil, collectively contribute approximately 36.93% ($3,590.72 billion) of the total revenue of these top 30 companies. This significant percentage underscores the USA's crucial role in the global market.
On the other hand, Chinese companies, including State Grid and China National Petroleum, account for about 21.69% ($2,108.54 billion) of the total revenue. This substantial share highlights China's growing influence in the global economic arena. The total revenue of the European companies among the top 30 biggest companies in the world by 2023 is approximately $826.25 billion. This represents about 8.50% of the total revenue of the top 30 companies, which is $9,722.61 billion.
Finally, considering that the global gross domestic product (GDP) was estimated to be about 104.4 trillion in 2023, these companies' revenues are significant but still a fraction of global economic output. Their direct employment impact, while significant, is also a smaller fraction of global employment. Additionally, the overwhelming presence of companies from specific regions, particularly the USA and China, which collectively contribute over 58% of the revenue of these top 30 companies, points to a skewed global economic balance. This imbalance raises concerns about the influence these corporations can exert on global economic policies, trade practices, and even political landscapes.