The 50 Most Valuable Companies in the World in 2023

The 50 Most Valuable Companies in the World

Market capitalization, or market cap, is one measure of a company’s value as determined by the stock market. It is easily calculated by multiplying the company’s outstanding shares by its current share price.

In this graphic, we present a treemap chart that visualizes the world’s top 50 publicly-traded companies by market cap, using data as of Aug. 16, 2023.

Editor’s note: While market capitalization is a simple way to compare publicly-traded companies, it does have some limitations. Most importantly, it does not include debt or cash in the calculation.

Data and Highlights

All of the data we used to create this graphic is included in the table below.

Company	Sector	Country	Market Cap (USD billions)
Apple	Information Technology	🇺🇸 US	$2,777
Microsoft	Information Technology	🇺🇸 US	$2,382
Saudi Aramco	Energy	🇸🇦 Saudi Arabia	$2,222
Alphabet	Communication Services	🇺🇸 US	$1,636
Amazon	Consumer Discretionary	🇺🇸 US	$1,385
NVIDIA	Information Technology	🇺🇸 US	$1,074
Berkshire Hathaway	Financials	🇺🇸 US	$774
Meta Platforms	Communication Services	🇺🇸 US	$754
Tesla	Consumer Discretionary	🇺🇸 US	$715
Eli Lilly	Health Care	🇺🇸 US	$519
Visa	Information Technology	🇺🇸 US	$501
TSMC	Information Technology	🇹🇼 Taiwan	$476
UnitedHealth	Health Care	🇺🇸 US	$469
Johnson & Johnson	Health Care	🇺🇸 US	$448
LVMH	Consumer Discretionary	🇫🇷 France	$442
JPMorgan Chase	Financials	🇺🇸 US	$436
Exxon Mobil	Energy	🇺🇸 US	$430
Walmart	Consumer Staples	🇺🇸 US	$429
Novo Nordisk	Health Care	🇩🇰 Denmark	$418
Tencent	Communication Services	🇨🇳 China	$389
Mastercard	Information Technology	🇺🇸 US	$374
Procter & Gamble	Consumer Staples	🇺🇸 US	$361
Broadcom	Information Technology	🇺🇸 US	$344
Samsung	Information Technology	🇰🇷 South Korea	$341
Home Depot	Consumer Discretionary	🇺🇸 US	$335
Kweichow Moutai	Consumer Staples	🇨🇳 China	$319
Nestlé	Consumer Staples	🇨🇭 Switzerland	$319
Oracle	Information Technology	🇺🇸 US	$313
Chevron	Energy	🇺🇸 US	$297
Merck	Health Care	🇺🇸 US	$276
AbbVie	Health Care	🇺🇸 US	$267
Coca-Cola	Consumer Staples	🇺🇸 US	$262
ASML	Information Technology	🇳🇱 Netherlands	$258
Pepsico	Consumer Staples	🇺🇸 US	$249
Costco	Consumer Staples	🇺🇸 US	$248
L'Oréal	Consumer Discretionary	🇫🇷 France	$244
Roche	Health Care	🇨🇭 Switzerland	$241
International Holding Company	Financials	🇦🇪 UAE	$240
Adobe	Information Technology	🇺🇸 US	$235
Bank of America	Financials	🇺🇸 US	$233
Alibaba	Consumer Discretionary	🇨🇳 China	$228
Hermès	Consumer Discretionary	🇫🇷 France	$227
Toyota	Consumer Discretionary	🇯🇵 Japan	$220
Novartis	Health Care	🇨🇭 Switzerland	$216
AstraZeneca	Health Care	🇬🇧 UK	$216
Cisco	Information Technology	🇺🇸 US	$216
Reliance Industries	Energy	🇮🇳 India	$213
McDonald	Consumer Discretionary	🇺🇸 US	$208
Thermo Fisher Scientific	Health Care	🇺🇸 US	$204
Shell	Energy	🇬🇧 UK	$204

From this data, we can see that there are only a handful of trillion dollar companies in the world, including Apple, Microsoft, Saudi Aramco, Amazon, Alphabet, and Nvidia.

Two former members of the trillion dollar club are Meta and Tesla, but both companies currently hover around the $700 billion range in terms of market capitalization. In 2022, Meta lost significant value as its earnings fell, while Tesla suffered from demand concerns.

Altogether, the 50 most valuable companies represent over $26.5 trillion in shareholder value. At a sector level, Information Technology is the most represented in the top 50, with $9.3 trillion in combined market cap. The next biggest sectors are Consumer Discretionary ($4.0 trillion) and Health Care ($3.3 trillion).

Geographical Breakdown

At a geographical level, the majority of the 50 most valuable companies are American. The following chart shows each country’s tally.

After the U.S., the three most represented countries are Switzerland, France, and China, with three companies apiece.

From Switzerland are companies such as Nestlé, Roche, and Novartis. The latter two are major players in the healthcare industry.

France’s companies in the top 50 list all belong to the Consumer Discretionary sector, and include fashion giants LVMH and Hermès, as well as L’Oréal, a global leader in cosmetics. Earlier this year, LVMH CEO Bernard Arnault was officially the richest person in the world with a fortune of $215 billion.

Finally, from the Chinese side are two globally-recognized names in Tencent and Alibaba. China’s third company on this list is Kweichow Moutai, a partially state-owned producer of alcoholic beverages.