Billionaire Mukesh Ambani's Reliance Industries jumped 10 places to break into the world's top 100 companies on the Fortune Global 500 list. The oil-to-telecom conglomerate is ranked 96th in the 2020 ranking released by Fortune on Tuesday. This is the highest any Indian company has been ranked on the Fortune Global 500 list.
#10 Toyota Motor
2 / 11
Revenues ($M): $275,288, Employees: 359,542
According to the report, Tesla may have recently overtaken Toyota Motor Corporation as the world's most valuable automaker, but the Camry- and Prius-maker is still more than 10 times the size of Elon Musk's company by sales ($275 billion vs. $25 billion last year).
3 / 11
Revenues ($M): $280,522, Employees: 798,000
Amazon’s 21 per cent revenue growth in 2019, to $281 billion, is the reason the Seattle company has moved up four spots on the Global 500.
4 / 11
Revenues ($M): $282,616, Employees: 72,500
The British energy giant fell one spot on this year’s list, as revenue dropped 7 per cent to $283 billion, and profits dropped 57 per cent to $4 billion, thanks to weak oil prices.
5 / 11
Revenues ($M): $282,760, Employees: 671,205
Volkswagen, the highest-ranking automaker in this year's list, has had a turbulent year.
#6 Saudi Aramco
6 / 11
Revenues ($M): $329,784, Employees: 79,000
In December 2019, Saudi Aramco made its much-anticipated debut on the Saudi Stock Exchange, becoming the world’s largest initial public offering on record. Within days after its listing, the company reached a market capitalization of $2 trillion.
#5 Royal Dutch Shell
7 / 11
Revenues ($M): $352,106, Employees: 83,000
Amid weaker oil and gas prices, Royal Dutch Shell, the Anglo-Dutch oil and gas multinational, fell two spots in the Global 500 rankings this year as revenue took an 11 per cent hit and profits fell by more than a third to $15.8 billion.
#4 China National Petroleum
8 / 11
Revenues ($M): $379,130, Employees: 1,344,410
Even before the pandemic began, PetroChina announced a 58% drop in profits in the third quarter of last year, caused by overcapacity in China’s market for natural gas.
#3 State Grid
9 / 11
Revenues ($M): $383,906, Employees: 907,677
According to the report, China’s state-owned power company, as sales dipped just under 1 per cent in 2019. Beijing appointed Mao Weiming as State Grid's chairman at the start of 2020, marking the first time the massive utility has been led by a chairman with no prior experience in the industry.
#2 Sinopec Group
10 / 11
Revenues ($M): $407,009, Employees: 582,648
Sinopec bet big on expanding production capacity last year just as oil prices grew volatile, and 2020 has been even bumpier.
11 / 11
Revenues ($M): $523,964, Employees: 2,200,000
Walmart has indisputably emerged as a strong No. 2 to Amazon in U.S. e-commerce, with sales up 37 per cent last year. Walmart is benefiting from focusing on select overseas markets, such as India and China, rather than competing everywhere.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.