Exploring the Largest Business Empires of Our Time

Walmart: The Largest Global Business

Do you ever wonder who leads the pack among the world's largest businesses? Well, here it is: the largest business in the world is Walmart. With over 11,000 stores in 28 countries, this retail giant is sitting pretty at the top of the list.

Walmart has been a powerhouse for several decades now and shows no signs of slowing down. It’s offerings include everything from food to fashion, home essentials to electronics, and general merchandise to financial services. In addition, Walmart has an amazing network of suppliers and distribution centers around the globe on top of its 15 million associates. As impressive as it may seem, Walmart only accounts for a fraction of global retail sales—while having an undeniable influence on global retailing overall.

Saudi Aramco: Oil Giant

You may have heard of Saudi Aramco, the world's largest oil producer and one of the most valuable companies in the world. It was founded in 1933 by Saudi Arabia’s government and is headquartered in Dhahran, Saudi Arabia.

The company boasts a market value of over $1.7 trillion and is the largest contributor to Saudi Arabia's GDP, accounting for about 12% of the country's total economy. It also has some impressive production figures - it reportedly produces more than 11 million barrels of oil per day, or about 12% of global demand.

In terms of size and influence, it’s hard to beat Saudi Aramco as one of the largest businesses in the world. It is one of only three companies to be valued at over a trillion dollars, and its size and power have only grown since its formation nearly ninety years ago.

Sinopec Group: A Chinese Energy Company

You've probably heard of Sinopec Group, the Chinese energy company. It's the third-largest business in the world, with annual revenues of $294 billion and more than a million employees.

Sinopec Group has a number of notable divisions and subsidiaries, including:

Petrochemical Business: which produces petrochemical products like synthetic resin, ethylene, polyethylene, and butadiene.

Exploration & Production Business: which focuses on natural gas production and exploration.

Retail & Refining Business: which manages fuel stations in China and refines crude oil into various fuels.

Engineering Services: which provides engineering services for pipelines, storage tanks, power plants, etc.

Trading Operations: through its trading company Sinochem International Co., Ltd., it handles upstream operations such as the import and export of oil and gas as well as financial services like insurance brokerage and banking.

The sheer size of its operations — both in terms of revenue and employee count — makes Sinopec Group one of the biggest companies in the world today.

China National Petroleum Corporation: The Third Largest Global Business

You may not have heard of China National Petroleum Corporation (CNPC), but it is the third-largest business in the world. Additionally, it is among the biggest producers of oil and gas worldwide.

So, what makes CNPC so successful? Well, to start, they are a fully integrated energy company that operates across multiple segments of the industry—as an upstream producer and supplier of oil and natural gas, as a midstream operator managing pipelines and terminals, and as a downstream processor of crude oil into fuel products.

With operations spanning the globe—including countries in Asia, Europe, Africa and North America—they leverage their vast resources to bring energy security to millions of people around the world. In addition to their upstream and midstream operations, CNPC also produces petrochemical products like ethylene for industrial use.

CNPC’s commitment to sustainability sets them apart from other large global businesses. They are focused on improving environmental responsibility in their operations by reducing carbon emissions from their natural gas production processes and actively researching renewable sources of energy production.

CNPC is proof that big oil can be big business without sacrificing sustainability—a lesson more global companies should take to heart.

State Grid Corporation of China: A Leading Power Company

Coming in at number five, the State Grid Corporation of China is one of the world's largest businesses. It's also the largest electricity utility company in the world.

The Chinese company owns a staggering 880,000 kilometers of power lines and grid systems across the country (but not only). It also controls 88% of China's electricity distribution market, supplying power to over 1.1 billion people.

The State Grid Corporation of China currently ranks 7th on the Fortune Global 500 list and generated a whopping $327 billion U.S. dollars in 2017 alone! This makes it one of the most profitable companies in the world and its growth rate shows no signs of slowing down anytime soon.

Honorable Mentions and Wrap Up

Finally, it's worth noting that the five largest businesses in the world we've highlighted here are just the tip of the iceberg when it comes to global business power. While these 5 make up a significant portion of the global economy, there are many other companies that deserve a mention as well.

Honorable Mentions

For example, Alphabet Inc.—the parent company of Google—is currently the 6th largest business in the world, with close to $162 billion in annual revenue and an impressive market cap of over $839 billion.

In addition, Apple Inc. continues to be an industry leader with their cutting-edge products and services, making them 7th on our list despite earning less than Alphabet Inc. with a yearly revenue of $261 billion and a market cap of around $2 trillion.

Wrap Up

It's clear that these 5 businesses have made their mark in the global economy—and they're not likely to lose their positions anytime soon. It's also interesting to note how some of them have changed over time: Walmart is now number 1 on this list despite starting much smaller than some of its competitors decades ago. And while Amazon has been expanding rapidly over the years to become one of the most successful companies ever seen, Apple continues to be a reliable mainstay in the industry and can be expected to provide innovative solutions for years to come.