Tech Companies Among 2023’s Top Earners (2024)

A recent study on the 2023 Fortune 500 has revealed that top global companies amassed a colossal $2.9 trillion in profit.

The top ten companies alone accounted for $689.8 billion, or 24 percent, of this total. Each company in this elite group averages an impressive $69 billion in profit. Leading the pack are Saudi Aramco, Apple, and Microsoft, respectively, as the most profitable.

The research, conducted by growandconvert.com, further uncovers that the top three sectors—Energy (24.56 percent), Financials (23.07 percent), and Technology (15.54 percent)—collectively contribute 63 percent of the profits of these global 500 companies.

Remarkably, half of the top ten most profitable companies are based in the United States, underscoring the formidable presence of American corporations in the global economic arena.

10 Most Profitable of the Largest Companies in the World, 2023

1. Saudi Aramco (Energy, Saudi Arabia): With $159.1B in profits, it dominates as the world’s most profitable energy company, capitalizing on vast oil reserves.
2. Apple (Technology, U.S.): Profiting $99.8B, Apple leads in tech innovation and consumer electronics, with a strong global brand presence.
3. Microsoft (Technology, U.S.): With $72.7B in profits, it excels in software, cloud services, and AI, maintaining a significant impact in tech industry.
4. Alphabet (Technology, U.S.): Earning $60B in profit, Alphabet, Google’s parent company, thrives in digital advertising, cloud computing, and AI technologies.
5. U.S. Postal Service (Transportation, U.S.): An unexpected contender with $56B in profits, showing resilience and adaptability in logistics and delivery services.
6. Exxon Mobil (Energy, U.S.): With $55.7B profit, it’s a key player in the oil and gas sector, benefiting from global energy demands and efficient operations.
7. Industrial & Commercial Bank of China (Financials, China): Profiting $53.6B, this bank leads in the financial sector with a strong customer base and diverse services.
8. China Construction Bank (Financials, China): With $48.1B in profits, it plays a pivotal role in China’s financial landscape with extensive banking operations.
9. Samsung Electronics (Technology, South Korea): Achieves $42.4B in profit, excelling in consumer electronics, semiconductors, and telecommunication.
10. Shell (Energy, Britain): With $42.3B profit, Shell remains a global leader in oil and gas, focusing on sustainable energy solutions alongside traditional operations.

Most Profitable Sectors for the World’s Largest Companies

1. Energy Sector: Leads with a 24.56% profit share, amassing $711.6 billion from 88 companies, highlighting its dominance in the global market.
2. Finance Sector: Close behind with a 23.07% profit share, contributed by 101 companies, underlining its significant financial influence.
3. Technology Sector: Comprises 35 companies, securing a notable 15.54% share, emphasizing its ongoing importance in the profit landscape.
4. Healthcare Sector: With 30 companies, holds a 7.51% share, translating to $217.6 billion, signifying its substantial role in profitability.
5. Transportation Sector: Encompasses 22 companies, accounting for 5.54% of total profit, amounting to $160.5 billion, essential for global movement.
6. Motor Vehicle and Parts Sector: Includes 34 companies, contributing 5.36% to the global profit, with $155.4 billion, reflecting the automotive industry’s impact.
7. Other Sectors: Comprising 14 diverse sectors with 190 companies, these sectors collectively contribute $533.6 billion, accounting for 18% of the global profit.