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The 50 Most Valuable Companies in the World in 2023

Stunning how high-tech dominates!


The 50 Most Valuable Companies in the World in 2023

August 20, 2023

By Marcus Lu, Visual Capitalist


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.

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



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.

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