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Top 5 Richest Companies in The World
However, do you also know that other companies in existence are far richer than those listed above? In fact, some of them even lasted until this day due to the innovation and commitment that they give to their products.
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So what will those companies be and what makes them at the top of the richest companies in the world list?
1. Dutch East India Company(VOC)
VOC was established in the year 1602 and the company itself manage to dominate globally for 400 years before other companies jumped into the market.
VOC started out as a shipping company and it expanded exponentially to the extent that it monopolizes the whole trading market in the Netherlands especially when it comes to herbs and spices.
Well of course back then, there weren't many laws and regulations when it comes to exploitation and this also involves VOC taking advantage of the fact that most of their workers consist of forced labor and the company itself was also involved in trading slaves.
This can be seen happening on the Javanese island when most of the workers did not get paid for what their jobs are worth. This vicious act by the Dutches has caused most of the workers to migrate to the Malay Archipelago.
On top of that, VOC was also one of the few companies that have their own army fleet and conquered lands in which they are more than capable of launching an attack against the Malay Archipelago.
This can be said to be the most successful company to ever be in existence that is not capable to be achieved by most of the companies that we see today.
2. The Mississippi Company
In just 2 years, this company has bought several other sails companies out there to monopolize the trading route across the globe.
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To make this work, the Mississippi Company was under the control of Banque Générale before it switched to become Banque Royale.
Ever since then, Law has kept on sending prisoners to work for Mississippi Company as an investment that will yield big time. However, things did not last long as only within 4 years his business plummeted to the ground and Law fled to London as well as Venice.
In the end, the company has been dissolved and was no longer operational to this date. But if the company were to exist today, it will be worth roughly $6.8 trillion.
3. Saudi Aramco
Now, you might probably have heard of this company considering that it is the biggest oil producer in the world. The current value of Saudi Aramco as of writing is an estimated $4.1 trillion and it has produced several millionaires in the middle east.It all started when oil was found in Bahrain in 1932 and the Saudi Arabian government received an offer from the California-Arabian Standard Oil Company to operate in Saudi Arabia in search of black gold.
Not long after that, the company Texas OilCo bought 50% shares in the California-Arabian. After 5 years of drilling, there was simply no luck and the company then invested more money to increase the effort of searching for oil.
It was until 1938 that oil was finally discovered in the region of Shahran and the production was increasing exponentially. In the year 1944, the name was changed to Arabian American Oil Co(Aramco) and the company have to share 50% of its revenue with Saudi Arabia.
However, Saudi Arabia has taken great lengths to fully own the company, and in 1980, Aramco has been fully bought by the Saudi Arabian government.
Recently, things did not go so well so Aramco as the world is having a crisis as of now. In previous years, there has been an oil war going on between the APEC countries and Russia which have caused the price of oil to be reduced by a lot.
Not just that but the COVID-19 pandemic has certainly made the situation much worse for Aramco as current oil demand has also been reduced drastically due to the quarantine order around the world.
Maybe it's time for Aramco to jump into a new type of business like technology or telecommunication.
4. Apple
Who doesn't love Apple right? It is considered the most successful tech company out there and it was founded by two genius minds, Steve Jobs and Stebe Wozniak. The company managed to grasp its first success when the laptop Apple I and Macintosh was first released.
Later in the year 1990, Apple produced many other digital products like CD players as well as digital cameras. Things were not always great for Apple since the company was closed to filing for bankruptcy in 1993 when the innovation of Apple Newton was considered a failure.
This led Steve Jobs to put more focus on their expertise which was producing laptops. This has led to the production of IMac for PC users and Macbook as a personal laptop.
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After that, Apple has also come with a surprise when iPod was first released which lets users keep many kinds of music in one simple device.
The rest was considered a huge success for the company, Apple especially when the first iPhone came out which was the holy grail of Apple's products. Even to this date, people will still buy the new generation of iPhone due to how good the phone is and even Huawei has a hard time competing with Apple.
5. Standard Oil
Standard Oil is a company that was founded by John D. Rockefeller in the year 1870 in Ohio, United States. If we were to take into account the current inflation rate today, Standard oil will be worth an estimated $1 trillion.
In the early 20th century, Rockefeller has taken control of 90% of the oil market in the United States. At the time, oil was widely used as a fuel source for lamps as well as for cars when it was first invented.
Rockefeller continued to dominate the market until the Supreme Court of the United States(SCOTUS) made the decision to dissolve the company Standard Oil as it was involved in illegal monopolization.
Due to this, Standard Oil was split into 34 different companies in which some of which you might know today like Exxon and Mobil. However, both these companies have decided to join together becoming Exxon-Mobil.
As of now, Exxon Mobil has taken the place of Standard Oil and the company is worth a staggering $572 billion.
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