The largest publicly traded corporations in the globe were able to increase sales and earnings in the previous year despite difficulties brought on by the pandemic, continued war, and unstable markets.
However, healthy income statements hide a new economic reality that lacks government stimulus and has considerably lower stock values since inflation and a negative market turn have slowed the pace of the economy's recovery.
Sales, profits, assets, and market value are the four criteria used by Forbes Global 2000 to rank the largest corporations in the world. The minimum market valuation to be taken into account for the 2022 list has been lowered due to market volatility to $7.6 billion from $8.26 billion in 2021, however, the minimum for all other measures is higher than it was the previous year.
Forbes determined the measures for our ranking using the most recent 12-months' worth of financial data that was available to us as of April 22, 2022.
In 2022, OCBC Bank, a subsidiary of Oversea-Chinese Banking Corporation, will be the biggest corporation in Southeast Asia. A international provider of banking and financial services is OCBC Bank.
Chinese Commercial Bank Limited, Ho Hong Bank Limited, and Oversea-Chinese Bank Limited were merged to become OCBC Bank, which was first established in Singapore in 1932 by Mr. Lee Kong Chian. In the 18 countries where the bank conducts business, there are more than 570 branches and officers, with over 100 of them in Hong Kong.
For the first time since Forbes began publishing the Global 2000 in 2003, Berkshire Hathaway surpassed the Industrial and Commercial Bank of China, which fell to No. 2 after holding the top spot for nine years straight.
Big oil quickly climbed out of last year's bottom ranks as a result of increased oil prices. Shell is No. 16, up from No. 324, and ExxonMobil is No. 15, up from No. 317 in 2021. Following losses the previous year, both businesses' profits started to trend upward.
The firms on the 2022 Global 2000 collectively generate $47.6 trillion in revenue, $5.0 trillion in profit, $233.7 trillion in assets, and have a market value of $76.5 trillion. The 2022 list features 58 distinct nations. With 590 businesses, the United States has the most, followed by China/Hong Kong (351) and Japan (196).
Source: Forbes, FinTechMagazine.com