How the World’s Biggest Companies Have Changed in Just 10 Years
The Chart of the Week is a weekly Visual Capitalist feature on Fridays.
At first glance, the business world may seem quite static. The biggest companies today – ones like Apple, Walmart, or Exxon Mobil – will likely also be some of the biggest companies tomorrow. Fast forward a week, a month, or a year, and odds are that they will still be at the top of the food chain.
But fast forward any further, and those odds change considerably. In a decade, there just has to be one bad strategic decision, a missed trend, or a colossal managerial mistake, and you have the next Kodak, Blockbuster, or Sears.
A Changing List
Every year, Fortune publishes a ranking of the world’s top companies by revenue. We compared the 100 highest revenue companies in both 2008 and 2018 to see how much things change in ten years – and the results are pretty astounding.
The most fundamental finding: 43 of the 100 companies on top of today’s list were not there ten years ago. Some of the “new” entries, like Amazon or Huawei, are to be expected – but other companies like Microsoft or Apple are more surprising.
In 2008, for example, Apple was ranked just #337 in global revenue, and today it comes in 11th place.
A Closer Look at the Top 10
The full graphic looks at the Top 100, but let’s zoom in just to the very top.
Here were the top 10 companies in 2008:
|#2||Exxon Mobil||USA||$372.8 billion|
|#3||Royal Dutch Shell||Netherlands||$355.8 billion|
|#5||Toyota Motor||Japan||$230.2 billion|
|#7||ING Group||Netherlands||$201.5 billion|
|#9||General Motors||USA||$182.3 billion|
Ten years ago, oil prices were sky-high and the list was dominated with energy names like Total, Chevron, and ConocoPhillips. Amazingly, ING Group was the only financial company to make the list in 2008, but it has since fallen to #171 globally.
Let’s jump to the 2018 list:
|#2||State Grid||China||$348.9 billion|
|#3||Sinopec Group||China||$327.0 billion|
|#4||China National Petroleum||China||$326.0 billion|
|#5||Royal Dutch Shell||Netherlands||$311.9 billion|
|#6||Toyota Motor||Japan||$265.2 billion|
|#9||Exxon Mobil||USA||$244.4 billion|
|#10||Berkshire Hathaway||USA||$242.1 billion|
While the modern list has just as many energy names, half of them are now Chinese companies like State Grid or Sinopec Group. Meanwhile, the staying power – at least in terms of revenue – of companies like Walmart, Toyota, Royal Dutch Shell, and BP is quite impressive.
Ranked: Which Economies Are the Most Competitive?
The world’s top countries excel in many fields—but there can only be one #1. How have the most competitive economies shifted in the past decade?
Ranked: Which Economies Are the Most Competitive?
What makes a country successful from an economic perspective? Many think of this in terms of GDP per capita—but in a rapidly changing world, our definitions of progress have evolved to encompass much more.
This animated Chart of the Week visualizes 10 years of global competitiveness, according to the World Economic Forum, and tracks how rankings have changed in this time.
How Do You Measure Competition?
The WEF’s annual Global Competitiveness Report defines the concept of ‘competitiveness’ as an economy’s productivity—and the institutions, policies, and factors which shape this.
This year’s edition unpacks the national competitiveness of 141 countries, using the newly-introduced Global Competitiveness Index (GCI) 4.0 which looks at four key metrics:
- Enabling Environment
Includes: Institutions, Infrastructure, ICT Adoption*, Macroeconomic Activity
*Refers to information and communications technology
- Human Capital
Includes: Health, Skills
Includes: Product Market, Labor Market, Financial System, Market Size
- Innovation Ecosystem
Includes: Business Dynamics, Innovation Capability
Each country’s overall competitiveness score is an average of these 12 main pillars of productivity. With that out of the way, let’s dive into the countries which emerge triumphant.
The Most Competitive: Movers and Shakers
The world’s top countries excel in many fields—but there can only be one #1. In 2019, Singapore wins the coveted “most competitive economy” title, with a 84.8 score on the GCI.
The nation’s developed infrastructure, health, labor market, and financial system have all propelled it forward—swapping with the U.S. (83.7) for the top spot. However, more can be done, as the report notes Singapore still lacks press freedom and demonstrates a low commitment to sustainability.
How have the current scores of the most competitive economies improved or fallen behind, compared to 2018?
|Rank||Economy||2019 Score||2018 Score||2018-2019 Change|
|#2||🇺🇸 United States||83.7||85.6||-2|
|#3||🇭🇰 Hong Kong||83.1||82.3||+0.9|
|#9||🇬🇧 United Kingdom||81.2||82||-0.8|
Finland (80.2) and Canada (79.6) are notable exits from this top 10 list over the years. Meanwhile, Denmark (81.2) disappeared from the rankings for five years, but managed to climb back up in 2018.
Regional Competitiveness: Highs and Lows
Another perspective on the most competitive economies is to look at how countries fare within regions, and how these regions compete among each other.
Middle East and North Africa (MENA) has the widest gap in competitiveness scores—Israel (76.7) scores over double that of poorest-performing Yemen (35.5). Interestingly, the MENA region showed the most progress, growing its median score by 2.77% between 2018-2019.
The narrowest gap is actually in South Asia, with just a single-digit difference between India (61.4) and Nepal (51.6). However, the region also grew the slowest, with only 0.08% increase in median score over a year.
|Region||Best Performer||2019 Score||Worst Performer||2019 Score||Regional
|Europe and North America||🇺🇸 United States||83.7||🇧🇦 Bosnia & Herzegovina||54.7||29|
|Latin America and the Caribbean||🇨🇱 Chile||70.5||🇭🇹 Haiti||36.3||34.2|
|East Asia and Pacific||🇸🇬 Singapore||84.8||🇱🇦 Laos||50.1||34.7|
|South Asia||🇮🇳 India||61.4||🇳🇵 Nepal||51.6||9.8|
|Eurasia||🇷🇺 Russia||66.7||🇹🇯 Tajikistan||52.4||14.3|
|Middle East and North Africa||🇮🇱 Israel||76.7||🇾🇪 Yemen||35.5||41.2|
|Sub-Saharan Africa||🇲🇺 Mauritius||64.3||🇹🇩 Chad||35.1||29.2|
Across all regions, the WEF found that East Asia’s 73.9 median score was the highest. Europe and North America were not far behind with a 70.9 median score. This is consistent with the fact that the most competitive economies have all come from these regions in the past decade.
As all these countries race towards the frontier—an ideal state where productivity growth is not constrained—the report notes that competitiveness “does not imply a zero-sum game”. Instead, any and all countries are capable of improving their productivity according to the GCI measures.
Which Companies Are Responsible For the Most Carbon Emissions?
Since 1965, over ⅓ of the world’s cumulative carbon emissions can be traced back to just 20 fossil fuel companies. Who are the biggest contributors?
20 Companies Responsible For the Most Carbon Emissions?
Since 1965, it’s estimated over 1.35 million metric tons (MtCO₂e) of greenhouse gases have been released into the atmosphere—and over a third can be traced back to just 20 companies.
This week’s chart draws on a dataset from the Climate Accountability Institute, and highlights the companies which have been responsible for the most carbon emissions in the past half-century.
The Sum of their Carbon Emissions
Between 1965-2017, the top 20 companies have contributed 480,169 MtCO₂e in total carbon emissions, or 35% of cumulative global emissions. This whopping amount is mostly from the combustion of their products—each company on this chart deals in fossil fuels.
The largest contributor? Saudi Aramco, the national petroleum and natural gas company of Saudi Arabia. Saudi Aramco actually comes in first on another list as well—it’s the most profitable company, making over $304 million daily.
However, this financial gain came at a significant cost: the state-owned giant’s operations have resulted in 59,262 MtCO₂e in carbon emissions since 1965. To put that into perspective, this total is more than six times China’s emissions in 2017 alone (9,838 MtCO₂e).
Explore the full list of companies by location, who owns them, and their total 1965–2017 emissions count below:
|Company||Country||Ownership||All Emissions, MtCO₂e|
|Total Emissions||480,169 MtCO₂e|
|Saudi Aramco||🇸🇦 Saudi Arabia||State-owned||59,262|
|Exxon Mobil||🇺🇸 U.S.||Investor-owned||41,904|
|National Iranian Oil Co.||🇮🇷 Iran||State-owned||35,658|
|Royal Dutch Shell||🇳🇱 Netherlands||Investor-owned||31,948|
|Coal India||🇮🇳 India||State-owned||23,124|
|Petroleus de Venezuela||🇻🇪 Venezuela||State-owned||15,745|
|Peabody Energy||🇺🇸 U.S.||Investor-owned||15,385|
|Abu Dhabi National Oil Co.||🇦🇪 UAE||State-owned||13,840|
|Kuwait Petroleum Corp.||🇰🇼 Kuwait||State-owned||13,479|
|Iraq National Oil Co.||🇮🇶 Iraq||State-owned||12,596|
|Total SA||🇫🇷 France||Investor-owned||12,352|
|BHP Billiton||🇦🇺 Australia||Investor-owned||9,802|
A Greener Business Model?
According to the researchers, all the companies that show up in today’s chart bear some responsibility for knowingly accelerating the climate crisis even after proven scientific evidence.
In fact, U.S.-based Exxon Mobil is currently on trial for misleading investors: the company downplayed the effect of climate change on its profitability, while internal calculations proved to be much larger. It also sowed public doubt on the immense impacts of rising greenhouse gas levels on the planet.
Growing sustainability and environmental concerns threaten the viability of old business models for these corporations, causing many to pivot away from the fossil fuel focus. Take BP for example—originally named British Petroleum, the company embraced “Beyond Petroleum” as its new rallying cry. More recently, it launched a carbon footprint calculator and is committed to keeping its carbon emissions flat into 2025.
The first step to reducing your emissions is to know where you stand. Find out your #carbonfootprint with our new calculator & share your pledge today!— BP (@BP_plc) October 22, 2019
However, the Climate Accountability Institute argues that more can still be done, with the researchers calling for these companies to reduce their fossil fuel production in the near future.
Continued pressure on these “Big Oil” companies to peak their carbon emissions, and urgently increase their renewable energy investment, may help curb the climate crisis before it’s too late.
Markets10 months ago
The Jeff Bezos Empire in One Giant Chart
Maps1 year ago
Mercator Misconceptions: Clever Map Shows the True Size of Countries
Advertising9 months ago
Meet Generation Z: The Newest Member to the Workforce
Misc12 months ago
24 Cognitive Biases That Are Warping Your Perception of Reality
Advertising8 months ago
How the Tech Giants Make Their Billions
Technology10 months ago
The 20 Internet Giants That Rule the Web
Chart of the Week10 months ago
Chart: The World’s Largest 10 Economies in 2030
Environment9 months ago
The World’s 25 Largest Lakes, Side by Side