What Is the Richest Company in the World? 10 Biggest Stocks in 2024

They are members of an exclusive club: Companies that have become international powerhouses with market capitalizations of more than $1 trillion.

US technology giant Apple (AAPL) became the first trillion-dollar company in recent history when it passed the milestone figure in the summer of 2018.

But now, six more businesses have found themselves in this elite group after seeing their stock prices rise significantly over the last few years.

Here, we reveal the largest companies in the world, how they make their annual revenue, and consider whether it’s worth investing in them.

Table of Contents Table of Contents

1. Key Takeaways
2. Largest Companies by Market Cap in 2024
3. Should I Invest in the Richest Companies in the World?
4. The Bottom Line
5. FAQs
6. References

Show Full Guide

Table of Contents

1. Key Takeaways
2. Largest Companies by Market Cap in 2024
3. Should I Invest in the Richest Companies in the World?
Show Full Guide
4. The Bottom Line
5. FAQs
6. References

Largest Companies by Market Cap in 2024

Of course, there are several ways to establish what the richest company in the world is. For example, the Forbes list considers sales, profits, assets, and market value.

In the most recent edition, published in June 2023, US investment bank JPMorgan came top of the pile, followed by major oil company Saudi Aramco.

Here, we have compiled a list of the largest companies by market cap.

Source: CompaniesMarketCap, as the stock market closed on March 14, 2024

1. Microsoft (MSFT) – $3.159 Trillion

The US tech giant now tops the list of most valuable companies. It recently announced an 18% increase in second-quarter revenue to $62 billion? – partly thanks to the rise in artificial intelligence.

Satya Nadella, its chairman and CEO, said:

“By infusing AI across every layer of our tech stack, we’re winning new customers and helping drive new benefits and productivity gains across every sector.”

2. Apple (AAPL) – $2.669 Trillion

It’s been a tough period for Apple, which has been hit with a €1.8 billion fine ($1.97 billion) from the European Commission for allegedly stifling competition from rival music streamers.

The problems have caused its stock price to slip 7.5% from $185.11 in early January to $171.13 as the market closed on March 13, 2024. However, Apple market cap is still at $2.669 trillion.

3. Nvidia (NVDA) – $2.188 Trillion

The US company, which is a leading name in artificial intelligence computing, recently announced a 265% increase in fourth-quarter revenues to $22.1billion.

Founder Jensen Huang delighted analysts even more by predicting that revenues for the current quarter were expected to hit a remarkable $24 billion.

4. Saudi Aramco (2222.SR) – $2.017 Trillion

The Saudi Arabian company, the world’s largest oil and gas business, saw net income fall $39.8 billion to $121.3 billion in 2023 from $161.1 billion the year before.

It attributed the decline to lower crude oil prices and volumes sold, as well as reduced refining and chemicals margins, but pointed out it was still Aramco’s second-highest-ever net income.

5. Amazon (AMZN) – $1.843 Trillion

The e-commerce giant, which reported strong fourth-quarter results, has seen its stock price rise 18% this year to $176.55 as the market closed on March 13, 2024.

It has also recently joined the prestigious Dow Jones Industrial Average – one of Wall Street’s most exclusive indexes – that consists of 30 high-profile companies.

6. Alphabet (GOOG) – $1.775 Trillion

Google’s parent company has endured a fairly lackluster start to the year, with analysts disappointed by its advertising revenues and unsettled by the costs of powering its artificial intelligence plans.

However, CEO Sundar Pichai has high hopes for Gemini, the company’s sophisticated AI model that he believes sets a “new state of the art” in text, image, audio, and video benchmarks.

7. Meta Platforms (META) – $1.261 Trillion

This is the final member on our list of trillion-dollar companies. The company, which has announced a surprise maiden dividend, has seen its share price rocket almost 42% in 2024.

The company stated in its press release:

“We intend to pay a cash dividend on a quarterly basis going forward, subject to market conditions and approval by our board of directors.”

8. Berkshire Hathaway (BRK-B) – $879.70 Billion

Billionaire investor Warren Buffett’s conglomerate, which is on the outskirts of the trillion-dollar club, has seen its net earnings soar to more than $96.2 billion in 2023.

However, in his letter to shareholders, Buffett warned only a handful of US companies were capable of “moving the needle” and warned there was “no possibility of eye-popping performance.”

9. TSMC (TSM) – $728.23 Billion

TSMC – Taiwan Semiconductor Manufacturing Company – posted better results than had been expected due to the weaker macroeconomic conditions.

In US dollars, the chipmaker’s fourth-quarter revenue was $19.62 billion, which represented a fall of 1.5% year-over-year but an increase of 13.6% on the previous quarter.

10. Eli Lilly (LLY)? – $721.29 Billion

The drug maker is the final name on our list of companies with the largest market capitalization. It reported fourth-quarter revenue up 28%, while its stock price has also risen a similar amount in 2024 to $758.14, as the market closed on March 13, 2024.

The company has also just struck a deal that will allow Amazon’s online pharmacy business to dispense medication, including its popular weight loss injection pen.

Should I Invest in the Richest Companies in the World?

The big question is: should you invest in the richest and biggest companies in the world?
There’s certainly a lot to like about some of these corporate giants, according to Danni Hewson, head of financial analysis at AJ Bell.

“They’ve delivered remarkable growth and incredible innovation,” she told Techopedia. “Many of them have been beneficiaries of the current AI boom that shows no signs of abating.”

Such a backdrop may cause investors to wonder why they shouldn’t invest when others are “clearly smitten”, she pointed out, but there are factors to consider.

Hewson explained:

“Picking a portfolio needs to be about more than the fear of missing out and investors must remember that valuations could have risen too high and that they might have missed that sweet spot when investing in those stocks seemed like a no-brainer.”

An alternative route could be buying an investment fund made up of a diverse portfolio of smaller start-ups with the “magic ingredient” that could make them future champions.

“Riding a wave can only last so long and it’s often better to jump in when things are just starting to swell rather than on the crest,” she added.

The Bottom Line

There’s a very good reason why companies have made it into the trillion-dollar club: they supply the goods and services that their customers need.

Their corporate achievements have resulted in stock market success, with investors eager to share in future developments of these businesses.

However, it’s crucial that you thoroughly research any prospective stocks before taking the plunge and investing your money.

For example, maybe their stock price has risen unsustainably high on the back of unrealistic growth expectations. After all, even experienced Wall Street analysts can be wrong.

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