The 10 top public sector companies in the world are some of the largest and richest global organizations based on revenues, total assets, market value and market cap. These companies are wholly-owned or partially owned by the central government or local governments and have proved themselves as important drivers of the world economy.
The global industry is divided into the public sector and private sector companies where the public sector undertakings create jobs and employment opportunities for the citizens and communities of a nation, provide care in hospitals and education in government schools and are responsible for law and order situations. The private sector companies with jobs in manufacturing, construction and retail industries on the other hand are operated by private or groups of individuals who work solely for profit and not for public service.
The top public sector companies in the world listed on the Forbes Global 2000 as a group account for 76.5 trillion USD in market cap, 5.0 trillion USD in profit and 47.6 trillion USD in revenues. Let us go through the top 10 public sector corporations, the industry they belong to and metrics like profit, employees and market cap to know about these organizations in detail.
Table of Contents
An Overview of 10 Largest Public Sector Companies in the World in 2022 Based on Forbes Global 2000 2022 List
1. Berkshire Hathaway
- Origin Country: United States of America
- Founder: Oliver Chace, Warren Buffet
- Founded: 1839
- Headquarters: Kiewit Plaza, Omaha, U.S.
- Employees in 2022: 372,000
- Annual Revenue in 2022: 295.722 billion USD
- Net Income in 2022: -1.337 billion USD
- Market Value in 2022: 741.48 billion USD
- Total Asset Size in 2022: 958.78 billion USD
- Market Cap in 2022: 688.08 billion USD
The American conglomerate Berkshire Hathaway is the largest public sector company in the world in 2022 based on the Forbes Global 2000 list. The holding company traded in the New York Stock Exchange is the seventh-largest component of the S&P 500. As the world’s largest public sector company decided against splitting the stock its Class A shares have now the highest per share price (500,000 in 2022 March) of any public corporation in the world.
The main business of Berkshire Hathaway is insurance and some of its major insurance brands are Geico, the auto insurer and General Re, the reinsurance firm. The public corporation has operations and assets in diverse sectors like natural gas distribution, apparel, diversified investments, manufacturing, real estate, consumer goods, machinery, railroads, retail, utilities and confectionery.
2. Industrial and Commercial Bank of China (ICBC)
- Origin Country: China
- Established: 1984
- Headquarters: Beijing, China
- Employees in 2022: 434,798
- Annual Revenue in 2022: 147.400 billion USD
- Net Income in 2022: 38.438 billion USD
- Market Value in 2022: 252.550 billion USD
- Total Assets in 2022: 5.880 trillion USD
- Market Cap in 2022: 250.8 billion USD
Industrial and Commercial Bank of China (ICBC) is ranked 2nd in the list of the largest public sector undertakings in the world in 2022 based on the Forbes Global 2000 list. The Chinese central government owns the commercial bank which was created as a limited company. The capital for the state government-owned bank was arranged by the Ministry of Finance on the directive of the central government.
Forbes has placed the state-owned bank 4th as the Most Profitable Companies of the World and the Financial Stability Board considers it a systemically important bank.
Industrial and Commercial Bank of China is associated with the financial services and commercial banking industry and has operations via several business segments like treasury operations, personal banking, corporate banking and investment banking etc.
3. Saudi Arabian Oil Company (Saudi Aramco)
- Origin Country: Saudi Arabia
- Established: 1933
- Headquarters: Dhahran, Saudi Arabia
- Employees in 2022: 69,867
- Annual Revenue in 2022: 229.89 billion USD
- Net Income in 2022: 110 billion USD
- Market Value in 2022: 2.292 trillion USD
- Total Asset Size in 2022: 576.04 billion USD
- Market Cap in 2022: 1.7 trillion USD
Saudi Arabian Oil Company (Saudi Aramco) is ranked 3rd in the list of the largest public sector undertakings in the world in 2022 based on the Forbes Global 2000 list. On 11th May 2022, the company replaced Apple with the title of the Most Valuable Company in the world based on market cap.
The state government or the Government of Saudi Arabia wholly owns the corporation which is also one of the world’s largest companies by revenues. The public sector company traded on Tadawul Stock Exchange has the distinction of having the second-largest proven reserves of crude oil and the largest oil production on daily basis from an oil-producing company in the world.
Saudi Arabian Oil Company is a natural gas corporation that deals in the production, transportation, exploration and sale of petroleum, petroleum derivatives and natural gas. It manages 100+ oil and gas fields in its country and has operations through three business segments Corporate, Downstream and Upstream.
4. JPMorgan Chase & Co
- Origin Country: United States of America
- Established:2000
- Headquarters: New York City, New York, U.S.
- Employees in 2022: 271,025
- Annual Revenue in 2022: 138.058 billion USD
- Net Income in 2022: 35,222 billion USD
- Market Value in 2022: 494 billion USD
- Total Asset Size in 2022: 3.954 trillion USD
- Market Cap in 2022: 377.3 billion USD
JPMorgan Chase & Co is ranked 4th in the list of the largest public sector organizations in the world in 2022 based on the Forbes Global 2000 list. It is the largest bank in the US, the world’s fifth-largest bank based on total assets and the largest bank in the world based on market cap.
The public sector corporation is traded on New York Stock Exchange as DJIA, S&P 100 and S&P 500 components. It is one of the Big Four banks in America and is considered Custodian Bank, Universal Bank and Bulge Bracket Bank.
JPMorgan Chase & Co is a holding company dealing in financial investment and banking services. It has operations through several business divisions like treasury services, commercial banking, wealth management, private banking, asset management and investment banking.
5. China Construction Bank
- Origin Country: China
- Founded: 1954
- Headquarters: Xicheng District, Beijing, China
- Employees in 2022: 349,671
- Annual Revenue in 2022: 128.135 billion USD
- Net Income in 2022: 34.274 billion USD
- Market Value in 2022: 182.170 billion USD
- Total Assets in 2022: 5.045 trillion USD
- Market Cap in 2022: 185.3 billion USD
China Construction Bank is currently ranked 5th in the list of the largest public sector organizations in the world in 2022 based on the Forbes Global 2000 list although it was ranked 2nd position in the Global 2000 2016 list. The central government of China wholly owns the state bank which is also a part of the Big Four banks in its home country. The Financial Stability Board considers it a systemically important bank.
The state bank has spread its presence with help of a wholly-owned subsidiary in London, 13,629 domestic branches and several overseas branches in prominent cities like Tokyo, Sydney and Barcelona etc.
China Construction Bank is a public sector corporation traded on Shanghai Stock Exchange or SSE and is a component of the SSE 180 Index and Hang Seng Index. The state bank offers financial services to both individual and corporate customers through several business segments like Treasury, Personal Banking and Corporate Banking. The product offerings include credit cards, mortgages, custody services, remittance, private equity, global wealth management, finance and insurance and investment banking etc.
6. Amazon
- Origin Country: United States of America
- Founder: Jeff Bezos
- Established: 1994
- Headquarters: Seattle, Washington, U.S.
- Employees in 2022: 1,608,000
- Annual Revenue in 2022: 502.191 billion USD
- Net Income in 2022: 11.323 billion USD
- Market Value in 2022: 1.468 trillion USD
- Total Asset Size in 2022: 420.55 billion USD
- Market Capitalization in 2022: 943.55 billion USD
The multinational company Amazon is ranked 6th in the list of the largest public sector organizations in the world in 2022 based on the Forbes Global 2000 list. It is referred to as one of the “Most Valuable Brands in the World”, one of the “Most Influential Cultural and Economic Forces in the World” and one of the “Big Five” information technology companies in the World.
The public sector corporation is traded on Nasdaq and is a component of the Nasdaq 100, S&P 500 and S&P 100.
Amazon is a technology company with operations in artificial intelligence, digital streaming, online streaming, cloud computing and e-commerce. Known as The Everything Store, it operates through AWS, International and North American business segments.
7. Apple
- Origin Country: United States of America
- Founders: Steve Jobs, Ronald Wayne and Steve Wozniak
- Founded: 1976
- Headquarters: 1 Apple Park Way Cupertino, US
- Employees in 2022: 164,000
- Annual Revenue in 2022: 394.328 billion USD
- Net Income in 2022: 99.803 billion USD
- Market Value in 2022: 2.640 trillion USD
- Total Asset Size in 2022: 381.19 billion USD
- Market Capitalization in 2022: 2.261 trillion USD
Apple still dominates the world market because of trillions in market capitalization and was the first US publicly-traded company in 2018 with a 1 + trillion USD valuation. The American company is ranked 7th in the list of the largest public sector corporations in the world in 2022 based on the Forbes Global 2000 list. It is traded on Nasdaq and is a component of the Nasdaq 100, S&P 500, DJIA and S&P 100.
Apple is one of the “Big Five” information technology companies in the World, the second-largest manufacturer of mobile phones and the fourth-largest vendor of the personal computer.
Apple operates with help of geographical segments like Asia-Pacific, Europe, Americas etc. It is associated with software services, consumer electronics and online services and is involved in the designing, manufacturing and sale of tablets, personal computers, smartphones and wearables etc. and related services.
8. Agricultural Bank of China
- Origin Country: China
- Established: 1951
- Headquarters: Dongcheng District, Beijing, China
- Employees in 2022: 459,000
- Annual Revenue (TTM) in 2022: 114.62 billion USD
- Net Income (TTM) in 2022: 38.163 billion USD
- Market Value in 2022: 160.760 billion USD
- Total Assets in 2022: 4.868 trillion USD
- Market Cap in 2022: 164.7 billion USD
Agricultural Bank of China is ranked 8th in the list of the largest public sector corporations in the world in 2022 based on the Forbes Global 2000 list. It is a part of the Big Four banks in its home country and is also the third-largest lender based on assets in China.
Agricultural Bank of China went public in 2010 and now the public sector organization is traded on Shanghai Stock Exchange. The financial corporation has 320 million and 2.7 million retail customers and corporate clients respectively.
The Agricultural Bank of China is a banking and financial services institution. It has operations through several business divisions like treasury operations, personal banking, corporate banking and others & allocated. Product offerings include private equity, credit cards, mortgages, consumer banking and global wealth management etc.
9. Bank of America
- Origin Country: United States of America
- Founder: Amadeo Giannini, Hugh McColl
- Established: 1998 in San Francisco
- Headquarters: Charlotte, North Carolina, U.S.
- Employees in 2022: 208,000
- Annual Revenue in 2022: 103.331 billion USD
- Net Income in 2022: 25.884 billion USD
- Market Value in 2022: 402.490 billion USD
- Total Asset Size in 2022: 3.238 trillion USD
- Market Cap in 2022: 313.3 billion USD
Bank of America is ranked 9th in the list of the largest public sector corporations in the world in 2022 based on the Forbes Global 2000 list. It is also the 6th largest American public company and the world’s second-largest wealth manager.
The holding company is the world’s second-largest bank based on market cap, the second-largest bank in the USA and one of the Big Four banks in the US. The financial institution is the world’s 3rd largest investment bank and is considered in the Bulge Bracket.
The public corporation is traded on New York Stock Exchange as S&P 100 and S&P 500 components. It has operations through several business segments like Global Wealth and Investment Management, Consumer Banking, Global Markets and Global Banking etc.
10. Toyota Motor Corporation
- Origin Country: Japan
- Founder: Kiichiro Toyoda
- Established: 1937
- Headquarters: Toyota City, Japan
- Employees in 2022: 372,817
- Annual Revenue in 2022: 279.278 billion USD
- Net Income in 2022: 25.366 billion USD
- Market Value in 2022: 237.73 billion USD
- Total Asset Size in 2022: 552.46 billion USD
- Market Cap in 2022: 233.30 billion USD
Toyota Motor Corporation is ranked 10th in the list of the largest public sector companies in the world in 2022 based on the Forbes Global 2000 list. It is traded in Tokyo Stock Exchange, The New York Stock Exchange, Nagoya Stock Exchange and the London Stock Exchange.
The Japanese public company is one of the world’s largest automotive manufacturers producing more than 10 million units annually. Toyota is also the world’s 9th largest company based on revenues and the largest company in Japan.
The public sector corporation produces under Toyota, Lexus, Hino and Daihatsu brand names. The manufacturing company operates through financial services, Automotive and All Others business segments.
Conclusion
The public sector undertakings include public service organizations created to serve the interests of a nation. These are the pillars of society involved in the development of a nation and providing public services to the general public.
Common examples of public companies are the ones with operations in defence, oil and gas, law, health care and education. The organizations give the common citizens access to free education and knowledge in schools and healthcare in government hospitals. They are also responsible for employment that benefits society as a whole.
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