Markets
Mapping The Biggest Companies By Market Cap in 60 Countries
The Biggest Companies By Market Cap in 60 Countries
Tech giants are increasingly making up more of the Fortune 500, but the world’s biggest companies by market cap aren’t so cut and dry.
Despite accounting for the largest market caps worldwide—with trillion-dollar companies like Apple and contenders including Tencent and Samsung—tech wealth is largely concentrated in just a handful of countries.
So what are the biggest companies in each country? We mapped the largest company by market cap across 60 countries in August 2021 using market data from CompaniesMarketCap, TradingView, and MarketScreener.
What are the Largest Companies in the World?
The world has 60+ stock exchanges, and each one has a top company. We looked at the largest local company, since many of the world’s largest firms trade on multiple exchanges, and converted market cap to USD.
Country | Company | Industry | Market Cap (August 2021) |
---|---|---|---|
USA | Apple | Technology | $2.5T |
Saudi Arabia | Saudi Aramco | Energy | $1.9T |
Taiwan | TSMC | Technology | $594.5B |
China | Tencent | Technology | $554.0B |
South Korea | Samsung | Technology | $429.7B |
France | LVMH | Consumer Cyclical | $414.3B |
Switzerland | Roche | Healthcare | $350.0B |
Netherlands | ASML | Technology | $322.6B |
Japan | Toyota | Consumer Cyclical | $251.6B |
Denmark | Novo Nordisk | Healthcare | $236.7B |
Ireland | Accenture | Technology | $208.2B |
India | Reliance Industries | Energy | $198.1B |
Australia | BHP Group | Materials | $191.7B |
Canada | Shopify | Technology | $185.7B |
UK | Astrazeneca | Healthcare | $182.0B |
Germany | SAP | Technology | $174.6B |
Singapore | SEA | Technology | $152.3B |
Hong Kong | AIA | Financials | $146.4B |
Belgium | Anheuser-Busch Inbev | Consumer Staples | $122.7B |
Spain | Inditex | Consumer Cyclical | $108.3B |
Brazil | VALE | Materials | $103.9B |
Russia | Sberbank | Financials | $96.7B |
Italy | Enel | Utilities | $93.7B |
Argentina | MercadoLibre | Consumer Cyclical | $89.5B |
Sweden | Atlas Copco | Industrials | $84.1B |
South Africa | Naspers | Technology | $74.1B |
Norway | Equinor | Energy | $67.9B |
UAE | Etisalat | Communication | $58.7B |
Mexico | Walmex | Consumer Staples | $58.1B |
Indonesia | Bank Cental Asia | Financials | $54.8B |
Kazakhstan | Kaspi.kz | Financials | $49.8B |
Qatar | QNB | Financials | $48.2B |
Finland | Nordea Bank | Financials | $48.0B |
Luxembourg | ArcelorMittal | Materials | $36.3B |
Austria | Verbund | Utilities | $33.7B |
Thailand | PTT PCL | Energy | $30.1B |
Colombia | Ecopetrol | Energy | $26.7B |
Malaysia | Maybank | Financials | $23.7B |
Philippines | SM Investments | Consumer Cyclical | $22.9B |
Kuwait | Kuwait Finance House | Financials | $21.9B |
Portugal | EDP Group | Utilities | $21.0B |
Vietnam | Vinhomes | Real Estate | $17.1B |
Israel | NICE | Technology | $16.9B |
Kenya | Safaricom | Communication | $16.0B |
Czech Republic | ÄŒEZ Group | Energy | $15.8B |
New Zealand | Xero | Technology | $15.8B |
Turkey | QNB Finansbank | Financials | $15.8B |
Hungary | OTP Bank | Financials | $15.6B |
Chile | Enel Americas | Utilities | $14.3B |
Morocco | Maroc Telecom | Communication | $13.6B |
Poland | PKO Bank Polski | Financials | $12.6B |
Cyprus | Polymetal | Materials | $10.0B |
Nigeria | Dangote Group | Materials | $10.0B |
Bahrain | Ahli United Bank | Financials | $8.6B |
Greece | OTE Group | Communication | $8.4B |
Peru | Credicorp | Financials | $8.0B |
Egypt | Commercial International Bank | Financials | $5.9B |
Iceland | Marel | Industrials | $5.8B |
Oman | Bank Muscat | Financials | $4.2B |
Panama | Copa Holdings | Industrials | $3.1B |
Many are former monopolies or massive conglomerates that have grown in the public space, such as South Africa’s Naspers and India’s Reliance Industries.
Others are local subsidiaries of foreign corporations, including Mexico’s Walmex, Chile’s Enel and Turkey’s QNB Finansbank.
But even more noticeable is the economic discrepancy. Apple and Saudi Aramco are worth trillions of dollars, while the smallest companies we tracked—including Panama’s Copa Group and Oman’s Bank Muscat—are worth less than $5 billion.
Finance and Tech Dominate The Biggest Companies By Market Cap
Across the board, the largest companies were able to accumulate wealth and value.
Some are newer to the top thanks to recent success. Canada’s Shopify has become one of the world’s largest e-commerce providers, and the UK’s AstraZeneca developed one of the world’s COVID-19 vaccines.
But the reality is most companies here are old guards that grew on existing resources, or in the case of banks, accumulated wealth.
Industry | Biggest Companies by Country |
---|---|
Financials | 16 |
Technology | 12 |
Energy | 6 |
Materials | 5 |
Communication | 4 |
Consumer Cyclical | 4 |
Utilities | 4 |
Healthcare | 3 |
Industrials | 3 |
Consumer Staples | 2 |
Real Estate | 1 |
Banks were the most commonly found at the top of each country’s stock market. Closely behind were oil and gas giants, mining companies, and former state-owned corporations that drove most of a country’s wealth generation.
But as more economies develop and catch up to Western economies (where tech is dominant), newer innovative companies will likely put up a fight for each country’s top company crown.
Technology
Ranked: America’s 20 Biggest Tech Layoffs Since 2020
How bad are the current layoffs in the tech sector? This visual reveals the 20 biggest tech layoffs since the start of the pandemic.

Ranked: America’s 20 Biggest Tech Layoffs This Decade
The events of the last few years could not have been predicted by anyone. From a global pandemic and remote work as the standard, to a subsequent hiring craze, rising inflation, and now, mass layoffs.
Alphabet, Google’s parent company, essentially laid off the equivalent of a small town just weeks ago, letting go of 12,000 people—the biggest layoffs the company has ever seen in its history. Additionally, Amazon and Microsoft have also laid off 10,000 workers each in the last few months, not to mention Meta’s 11,000.
This visual puts the current layoffs in the tech industry in context and ranks the 20 biggest tech layoffs of the 2020s using data from the tracker, Layoffs.fyi.
The Top 20 Layoffs of the 2020s
Since 2020, layoffs in the tech industry have been significant, accelerating in 2022 in particular. Here’s a look at the companies that laid off the most people over the last three years.
Rank | Company | # Laid Off | % of Workforce | As of |
---|---|---|---|---|
#1 | 12,000 | 6% | Jan 2023 | |
#2 | Meta | 11,000 | 13% | Nov 2021 |
#3 | Amazon | 10,000 | 3% | Nov 2021 |
#4 | Microsoft | 10,000 | 5% | Jan 2023 |
#5 | Salesforce | 8,000 | 10% | Jan 2023 |
#6 | Amazon | 8,000 | 2% | Jan 2023 |
#7 | Uber | 6,700 | 24% | May 2020 |
#8 | Cisco | 4,100 | 5% | Nov 2021 |
#9 | IBM | 3,900 | 2% | Jan 2023 |
#10 | 3,700 | 50% | Nov 2021 | |
#11 | Better.com | 3,000 | 33% | Mar 2022 |
#12 | Groupon | 2,800 | 44% | Apr 2020 |
#13 | Peloton | 2,800 | 20% | Feb 2022 |
#14 | Carvana | 2,500 | 12% | May 2022 |
#15 | Katerra | 2,434 | 100% | Jun 2021 |
#16 | Zillow | 2,000 | 25% | Nov 2021 |
#17 | PayPal | 2,000 | 7% | Jan 2023 |
#18 | Airbnb | 1,900 | 25% | May 2020 |
#19 | Instacart | 1,877 | -- | Jan 2021 |
#20 | Wayfair | 1,750 | 10% | Jan 2023 |
Layoffs were high in 2020 thanks to the COVID-19 pandemic, halting the global economy and forcing staff reductions worldwide. After that, things were steady until the economic uncertainty of last year, which ultimately led to large-scale layoffs in tech—with many of the biggest cuts happening in the past three months.
The Cause of Layoffs
Most workforce slashings are being blamed on the impending recession. Companies are claiming they are forced to cut down the excess of the hiring boom that followed the pandemic.
Additionally, during this hiring craze competition was fierce, resulting in higher salaries for workers, which is now translating in an increased need to trim the fat thanks to the current economic conditions.
Of course, the factors leading up to these recent layoffs are more nuanced than simple over-hiring plus recession narrative. In truth, there appears to be a culture shift occurring at many of America’s tech companies. As Rani Molla and Shirin Ghaffary from Recode have astutely pointed out, tech giants really want you to know they’re behaving like scrappy startups again.
Twitter’s highly publicized headcount reduction in late 2022 occurred for reasons beyond just macroeconomic factors. Elon Musk’s goal of doing more with a smaller team seemed to resonate with other founders and executives in Silicon Valley, providing an opening for others in tech space to cut down on labor costs as well. In just one example, Mark Zuckerberg hailed 2023 as the “year of efficiency” for Meta.
Meanwhile, over at Google, 12,000 jobs were put on the chopping block as the company repositions itself to win the AI race. In the words of Google’s own CEO:
“Over the past two years we’ve seen periods of dramatic growth. To match and fuel that growth, we hired for a different economic reality than the one we face today… We have a substantial opportunity in front of us with AI across our products and are prepared to approach it boldly and responsibly.”– Sundar Pichai
The Bigger Picture in the U.S. Job Market
Beyond the tech sector, job openings continue to rise. Recent data from the Bureau of Labor Statistics (BLS) revealed a total of 11 million job openings across the U.S., an increase of almost 7% month-over-month. This means that for every unemployed worker in America right now there are 1.9 job openings available.
Additionally, hiring increased significantly in January, with employers adding 517,000 jobs. While the BLS did report a decrease in openings in information-based industries, openings are increasing rapidly especially in the food services, retail trade, and construction industries.
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