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The 50 Most Valuable Companies in the World in 2023

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The 50 Most Valuable Companies in the World in 2023 by Market Capitalization

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The 50 Most Valuable Companies in the World

Market capitalization, or market cap, is one measure of a company’s value as determined by the stock market. It is easily calculated by multiplying the company’s outstanding shares by its current share price.

In this graphic, we present a treemap chart that visualizes the world’s top 50 publicly-traded companies by market cap, using data as of Aug. 16, 2023.

Editor’s note: While market capitalization is a simple way to compare publicly-traded companies, it does have some limitations. Most importantly, it does not include debt or cash in the calculation.

Data and Highlights

All of the data we used to create this graphic is included in the table below.

CompanySectorCountryMarket Cap
(USD billions)
AppleInformation Technology🇺🇸 US$2,777
MicrosoftInformation Technology🇺🇸 US$2,382
Saudi AramcoEnergy🇸🇦 Saudi Arabia$2,222
AlphabetCommunication Services🇺🇸 US$1,636
AmazonConsumer Discretionary🇺🇸 US$1,385
NVIDIAInformation Technology🇺🇸 US$1,074
Berkshire HathawayFinancials🇺🇸 US$774
Meta PlatformsCommunication Services🇺🇸 US$754
TeslaConsumer Discretionary🇺🇸 US$715
Eli LillyHealth Care🇺🇸 US$519
VisaInformation Technology🇺🇸 US$501
TSMCInformation Technology🇹🇼 Taiwan$476
UnitedHealthHealth Care🇺🇸 US$469
Johnson & JohnsonHealth Care🇺🇸 US$448
LVMHConsumer Discretionary🇫🇷 France$442
JPMorgan ChaseFinancials🇺🇸 US$436
Exxon MobilEnergy🇺🇸 US$430
WalmartConsumer Staples🇺🇸 US$429
Novo NordiskHealth Care🇩🇰 Denmark$418
TencentCommunication Services🇨🇳 China$389
MastercardInformation Technology🇺🇸 US$374
Procter & GambleConsumer Staples🇺🇸 US$361
BroadcomInformation Technology🇺🇸 US$344
SamsungInformation Technology🇰🇷 South Korea$341
Home DepotConsumer Discretionary🇺🇸 US$335
Kweichow MoutaiConsumer Staples🇨🇳 China$319
NestléConsumer Staples🇨🇭 Switzerland$319
OracleInformation Technology🇺🇸 US$313
ChevronEnergy🇺🇸 US$297
MerckHealth Care🇺🇸 US$276
AbbVieHealth Care🇺🇸 US$267
Coca-ColaConsumer Staples🇺🇸 US$262
ASMLInformation Technology🇳🇱 Netherlands$258
PepsicoConsumer Staples🇺🇸 US$249
CostcoConsumer Staples🇺🇸 US$248
L'OréalConsumer Discretionary🇫🇷 France$244
RocheHealth Care🇨🇭 Switzerland$241
International Holding CompanyFinancials🇦🇪 UAE$240
AdobeInformation Technology🇺🇸 US$235
Bank of AmericaFinancials🇺🇸 US$233
AlibabaConsumer Discretionary🇨🇳 China$228
HermèsConsumer Discretionary🇫🇷 France$227
ToyotaConsumer Discretionary🇯🇵 Japan$220
NovartisHealth Care🇨🇭 Switzerland$216
AstraZenecaHealth Care🇬🇧 UK$216
CiscoInformation Technology🇺🇸 US$216
Reliance IndustriesEnergy🇮🇳 India$213
McDonaldConsumer Discretionary🇺🇸 US$208
Thermo Fisher ScientificHealth Care🇺🇸 US$204
ShellEnergy🇬🇧 UK$204

From this data, we can see that there are only a handful of trillion dollar companies in the world, including Apple, Microsoft, Saudi Aramco, Amazon, Alphabet, and Nvidia.

Two former members of the trillion dollar club are Meta and Tesla, but both companies currently hover around the $700 billion range in terms of market capitalization. In 2022, Meta lost significant value as its earnings fell, while Tesla suffered from demand concerns.

Altogether, the 50 most valuable companies represent over $26.5 trillion in shareholder value. At a sector level, Information Technology is the most represented in the top 50, with $9.3 trillion in combined market cap. The next biggest sectors are Consumer Discretionary ($4.0 trillion) and Health Care ($3.3 trillion).

Geographical Breakdown

At a geographical level, the majority of the 50 most valuable companies are American. The following chart shows each country’s tally.

Most valuable companies by country

After the U.S., the three most represented countries are Switzerland, France, and China, with three companies apiece.

From Switzerland are companies such as Nestlé, Roche, and Novartis. The latter two are major players in the healthcare industry.

France’s companies in the top 50 list all belong to the Consumer Discretionary sector, and include fashion giants LVMH and Hermès, as well as L’Oréal, a global leader in cosmetics. Earlier this year, LVMH CEO Bernard Arnault was officially the richest person in the world with a fortune of $215 billion.

Finally, from the Chinese side are two globally-recognized names in Tencent and Alibaba. China’s third company on this list is Kweichow Moutai, a partially state-owned producer of alcoholic beverages.

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All of the World’s Trillion-Dollar Companies in One Chart

We rank the world’s trillion-dollar companies as of June 18, 2024. Could TSMC be next?

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All of the World’s Trillion-Dollar Companies in One Chart

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Chipmaker Nvidia is now the world’s most valuable company, which means its time for an update to our frequent “trillion-dollar club” post.

In this graphic, we’ve visualized the market capitalizations of the world’s trillion-dollar companies, as of June 18, 2024. Included for additional context is the market cap of the median S&P 500 firm (as of May 30, 2024), as well as Taiwan’s TSMC, which is the next closest company to reaching the $1 trillion milestone.

Data and Key Takeaways

The figures used to create this graphic are included in the table below. Numbers for each company come from Companiesmarketcap.com, while the median S&P 500 market cap was sourced from S&P Global.

CompanyMarket Cap (USD)
🇺🇸 Nvidia$3.34T
🇺🇸 Microsoft$3.32T
🇺🇸 Apple$3.29T
🇺🇸 Alphabet$2.17T
🇺🇸 Amazon$1.90T
🇸🇦 Saudi Aramco$1.79T
🇺🇸 Meta$1.27T
🇹🇼 TSMC$932B
Median S&P 500 company$92B

Here are the key reasons behind each of these companies’ massive valuations:

  • Nvidia: Industry leader in data center chips, essential for training artificial intelligence
  • Microsoft: Dominance in enterprise software products (e.g. Windows, Office, Azure)
  • Apple: Strong track record of innovation and a large, loyal customer base
  • Alphabet: Leading player in online advertising and other digital platforms (e.g. Google Search, Youtube)
  • Amazon: Dominance in e-commerce and rising cloud computing market share through Amazon Web Services (AWS)
  • Saudi Aramco: World’s largest oil producer with massive reserves
  • Meta: Dominant player in social media (Facebook, Instagram, Whatsapp)

If you’re interested in learning more, check out our graphic: Visualizing How Big Tech Companies Make Their Billions.

Which Company Will Hit $1 Trillion Next?

As of June 18, there are a few candidates that could soon join the trillion-dollar club, including TSMC ($932B), Berkshire Hathaway ($881B), Eli Lilly ($847B), and Broadcom ($839B).

Most of these stocks have climbed significantly in 2024 so far, with TSMC up 77% since the start of the year, Eli Lilly up 51%, and Broadcom up 66%.

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