On August 5, the 2024 Fortune Global 500 list revealed that Apple has emerged as the world’s second most profitable company, trailing closely behind Saudi Aramco. This list also highlights the strong presence of American technology giants, with Google and Microsoft securing spots just behind Apple.
Despite a 24% year-on-year decline in profits, Saudi Aramco maintained its position at the top of the profit rankings, reporting earnings of approximately $120.7 billion. Apple, Alphabet (Google’s parent company), and Microsoft ranked second, fourth, and fifth respectively, underscoring the continued dominance of U.S. tech firms in global profitability.
Berkshire Hathaway, which experienced the largest loss on the Fortune Global 500 list last year, made a significant comeback, ranking third this year with a profit exceeding $96.2 billion.
In addition to the U.S. tech companies, three Chinese banks also made it into the top ten of the profit list: Industrial and Commercial Bank of China, China Construction Bank, and Agricultural Bank of China. Notably, the Industrial and Commercial Bank of China reported profits surpassing $51.4 billion, cementing its position as a major player in the global financial landscape.
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