Top 10 Fortune Global 500 companies in 2021

After reaching a record high of $33.3 trillion in 2020, the total revenue for the companies on the Fortune 500 list fell over 4.8 per cent to $31.7 trillion this year.

The Fortune Global 500, or simply known as the Global 500, is an annual ranking of the top 500 corporations and companies around the world. The rankings are measured based on the total revenue generated by the company in the stipulated time and the final list is published by the US-based Fortune Magazine every year. 

Being placed on the Fortune 500 ranking is a dream every successful business owner wishes would come true for them. But getting on the ranks within the top 500 when you are competing with hundreds of thousands of corporations every year is not an easy task. That is why making it to the list is always a coveted achievement and the companies who do make regular appearances on it are synonymous with global domination and unparalleled growth and fortune. 

The competition to get on the list is open to all, but it is tough. Historically, economic superpowers such as the USA, China, the United Kingdom, France, Germany and Japan have dominated the corporate markets due to the added advantage of them having a stable and fast-growing economy. 

Statistically, the US has dominated the Fortune 500 list; From 2000 to 2019, the country had more Fortune 500 companies than any other in the world. But there has been an apparent shift in the global scenario as new superpowers emerged to compete with the USA. In 2020, China overtook the US by sending 124 companies straight to the rankings. 

Meanwhile, other countries also recorded immense growth over the past two decades. In 2020, Japan saw 53 of its corporations enter the Fortune 500 list and was subsequently followed by France with 31, Germany with 27 and the UK with 22 companies. 

However, the COVID-19 pandemic underlined a setback for the top corporations of the world as well. After reaching a record high of $33.3 trillion in 2020, the total revenue for the companies on the Fortune 500 list fell over 4.8 per cent to $31.7 trillion this year. But, despite the obstacles, the combined sales of the companies amounted to more than one-third of global GDP, continuing their remarkable streak of success. 

Being the most anticipated ranking in the business world every year has rendered this year’s list a hot topic as well.

Here are the top 10 corporations on the Fortune Global 500 ranking in 2021: 

 

1.Walmart

Image courtesy: corporate.walmart.com

Founded by Sam Walton, Walmart Inc. is an American multinational retail corporation operating over 10,500 stores and clubs in 24 countries around the world. The company is mainly associated with a chain of supermarkets, discounted department stores and grocery stores but has now expanded over to e-commerce as well.

Doug McMillon is the current CEO of the company. In 2021, Walmart recorded a revenue of $525,964 Million, making it the biggest corporation in the world. 

 

2. State Grid

Image courtesy: china.org.cn

The State Grid Corporation of China, commonly known as State Grid, is a state-owned electric utility corporation operating in China. As the world’s largest utility, State Grid supplies electricity to over 1.1 billion people, with the service area covering around 88 per cent of the Chinese territory.

It currently operates energy networks in 9 countries and regions and has multiple overseas projects under construction. The company posted revenue of $383,906 Million, making it the second-largest company in the world, and the most profitable state-owned business. 

 

3. Amazon

Image courtesy: interestingengineers.com

 

Amazon.com Inc. is an American-based multinational e-commerce platform and has now spread into the cloud computing, digital streaming and artificial intelligence markets. 

In 2021, Amazon earned $21.3 billion in profit on more than $386 billion in annual sales. With the COVID-19 restrictions nudging everyone over to online markets, the company grew even stronger in not only just its e-commerce business but also in entertainment services, recording 50 million new subscribers this year. Jeff Bezos stepped down as the CEO of the company in 2021 and the position is now held by Andy Jassy. 

 

4. China National Petroleum

Image courtesy: chinadaily.com.cn

The China National Petroleum Corporation is yet another state-owned corporation to make it to the top 5 of the Fortune 500 ranking. The CNPC is a major oil and gas corporation of China and also the 3rd largest integrated energy group in the world. 

It had dived into both oil and oil field services, with operations covering the entire oil and gas industry value chain. It currently has assets in over 30 countries and has recorded a revenue of $379,130 Million in 2021. 

 

5. Sinopec Group

Image courtesy: chemidigest.com

Sinopec, also known as China Petrochemical Corporation is an oil and gas corporation based in Beijing. 

The corporation has a rough year owing to reduced demands due to the pandemic. But as the economy kickstarts, demands from factories and freight have surged which is expected to drive Sinopec’s business further in the latter half of the year.  With a recorded revenue of $ 407,009 million, Sinopec is now looking to reduce its carbon footprint by putting more focus on hydrogen production. 

 

6. Apple Inc. 

Image courtesy: nytimes.com

Specialising in consumer electronics, computer software and online services, Apple Inc. is the sixth-largest company in the world in terms of revenue this year. 

Based in America, it is also the world’s most valuable company. Its fiscal year revenue in the stipulated time hit an all-time high with $275 billion which subsequently led to an 80.7 per cent rise in its stock price in 2020. Its range of iPads and Macintosh computers also hit their highest recorded sales yet. 

 

7. CVS health 

Image courtesy: foxbusiness.com

American-based CVS health corp is a company that owns many banners across the healthcare sector. Its most notable brands include CVS pharmacy, a retail pharmacy chain and Aetna, a health insurance provider. 

During the COVID-19 pandemic, CVS was on the frontlines as one of the central hubs for distributing vaccines and other medications to the local communities. In the first quarter of 2021 alone, it accounted for more than $69 billion in revenue. In the fiscal year, CVS recorded total revenue of $256,776 Million, propelling it to the seventh spot on the Fortune 500 ranking. 

 

8. UnitedHealth Group 

Image courtesy: forbes.com

UnitedHealth Group is a multinational healthcare and insurance corporation based in the USA. It provides a range of healthcare products and insurances whose demands surged during the pandemic. 

Thriving due to the pandemic, the corporation climbed up 2 spots from last year’s ranking. The firm recorded a 6.2 per cent revenue growth while its profits jumped over 11 per cent. The corporation posted total revenue of $242,155 million in 2021. 

 

9. Toyota Motor

Image courtesy: headquarters.toyota.com

Toyota Motor Corp, a Japan-based multinational automotive manufacturer, marks the top entry for an auto corp on the list in 2021. Toyota is currently one of the biggest automobile manufacturers in the world and despite the reduced demands owing to the pandemic, it entered the Fortune 500 ranking at the 9th position this year. 

For the fiscal year ending March 2022, Toyota has forecast a 14 per cent increase in operating profits and revenue near record-high levels of 30 trillion yen. 

 

10. Volkswagen 

Image courtesy: dw.com

The German motor vehicle manufacturer, Volkswagen is one of the largest car makers in the world. It is the flagship brand of Volkswagen Group headquartered in Wolfsburg, Germany. 

It recorded a revenue of $282,760 million in the year 2021, making its way as the only German company in the top 10 of the Fortune 500 list this year.

Subscribe to our newsletter
Subscribe to our newsletter
Sign up here to get the latest news delivered directly to your inbox.
You can unsubscribe at any time