Introduction
Forbes is a leading global media company that covers business, finance, technology, entrepreneurship, leadership, and lifestyle. Forbes is known for its annual ranking of the world's billionaires, but the company also publishes other rankings, including the Forbes 2000, America's Best Employers, and the World's Most Powerful Brands. One of the most highly anticipated Forbes rankings is the Forbes Global 2000, which ranks the world's largest public companies based on a composite score of revenues, profits, assets, and market value.
In this article, we will discuss the Forbes Global 2000 rankings for 2021. We will delve into the top companies that made the list, the industries that dominate the ranking, and key insights into the trends and factors that influenced the rankings. If you are interested in business and finance, this article is a must-read.
1. The Overall Rankings
The Forbes Global 2000 is an annual ranking of the top 2000 public companies in the world. The companies are ranked based on a composite score of four metrics: revenue, profit, assets, and market value. The ranking is considered a valuable tool for investors, analysts, and business professionals who want to assess the strength and performance of global corporations.
The 2021 Forbes Global 2000 rankings have been released, and the top 10 companies on the list are:
1. Industrial and Commercial Bank of China (ICBC)
ICBC is a Chinese multinational banking company that provides a range of financial products and services to customers worldwide. With a market value of $263.7 billion and total assets of $4.5 trillion, ICBC tops the Forbes Global 2000 rankings for 2021.
2. China Construction Bank
China Construction Bank is another major Chinese bank that ranks second on the Forbes Global 2000 list for 2021. The bank has a market value of $186.6 billion and total assets of $4.3 trillion.
3. JPMorgan Chase & Co.
The only non-Chinese company in the top three is JPMorgan Chase & Co., an American multinational investment bank and financial services company. JPMorgan Chase has a market value of $464.4 billion and total assets of $3.4 trillion.
4. Berkshire Hathaway
Berkshire Hathaway is an American multinational conglomerate holding company that owns a range of businesses in various industries. With a market value of $628.9 billion and total assets of $882.3 billion, Berkshire Hathaway ranks fourth on the Forbes Global 2000 list for 2021.
5. Agricultural Bank of China
The Agricultural Bank of China is a Chinese bank that provides a range of financial services to customers worldwide. With a market value of $153.5 billion and total assets of $4.1 trillion, the Agricultural Bank of China ranks fifth on the Forbes Global 2000 list for 2021.
6. Bank of America
Bank of America is another American multinational investment bank and financial services company that ranks sixth on the Forbes Global 2000 list for 2021. The bank has a market value of $317.1 billion and total assets of $2.8 trillion.
7. Ping An Insurance (Group) Company of China, Ltd.
Ping An Insurance is a Chinese insurance company that provides a range of insurance products and services to customers worldwide. With a market value of $197.2 billion and total assets of $1.3 trillion, Ping An Insurance ranks seventh on the Forbes Global 2000 list for 2021.
8. Apple Inc.
Apple Inc. is an American multinational technology company that designs, develops, and sells consumer electronics, computer software, and online services. With a market value of $2.2 trillion and total assets of $337.2 billion, Apple Inc. ranks eighth on the Forbes Global 2000 list for 2021.
9. Bank of China
Bank of China is a Chinese multinational bank that provides a range of financial products and services to customers worldwide. With a market value of $123.5 billion and total assets of $3.5 trillion, Bank of China ranks ninth on the Forbes Global 2000 list for 2021.
10. Verizon Communications Inc.
Verizon Communications Inc. is an American multinational telecommunications conglomerate that provides a range of telecommunications products and services. With a market value of $226.6 billion and total assets of $346.1 billion, Verizon Communications Inc. ranks tenth on the Forbes Global 2000 list for 2021.
The editor says: The top 10 companies on the 2021 Forbes Global 2000 list are dominated by Chinese banks, followed by American banks and companies in various industries. It is interesting to note that Apple Inc. is the only technology company in the top 10.
2. The Industries That Dominate the Rankings
The Forbes Global 2000 rankings are dominated by companies in the financial, industrial, and oil and gas industries. In 2021, the financial sector accounted for 24% of the total list, followed by the industrial sector (19%), and the oil and gas sector (11%). Other industries that made the list include consumer goods, technology, healthcare, and telecommunications.
1. Financial Sector
The financial sector is a dominant force in the Forbes Global 2000 rankings, comprising banks, insurance companies, and other financial services providers. In 2021, ICBC and China Construction Bank topped the list, followed by JPMorgan Chase & Co., Berkshire Hathaway, Bank of America, and Ping An Insurance.
2. Industrial Sector
The industrial sector is another major player in the Forbes Global 2000 rankings, comprising companies that manufacture and distribute products in various industries. In 2021, the top industrial companies on the list include General Electric, Toyota Motor, Airbus, Ford Motor, and Boeing.
3. Oil and Gas Sector
The oil and gas sector is a significant contributor to the Forbes Global 2000 rankings, comprising companies that explore, produce, and refine oil and gas products. In 2021, the top oil and gas companies on the list include Royal Dutch Shell, ExxonMobil, BP, Chevron, and Gazprom.
The editor says: The Forbes Global 2000 rankings reveal that financial, industrial, and oil and gas industries dominate the list, highlighting the importance of these sectors in the global economy.
3. Key Insights into the Trends and Factors Influencing the Rankings
The Forbes Global 2000 rankings not only reflect the strength and performance of individual companies but also reveal trends and factors that shape the global economy. Here are some key insights into the trends and factors influencing the rankings in 2021.
1. The Impact of COVID-19
The COVID-19 pandemic has had a significant impact on the global economy, and the Forbes Global 2000 rankings reflect some of these effects. Many companies on the list saw a decline in revenue and profit due to the pandemic's disruptions, particularly in industries such as travel, hospitality, and retail.
2. The Rise of Chinese Companies
Chinese companies continue to rise in the Forbes Global 2000 rankings, reflecting China's growing economic power and influence. In 2021, Chinese companies occupy seven of the top ten spots on the list, with ICBC and China Construction Bank leading the pack.
3. The Importance of Technology
Technology companies are also an important factor in the Forbes Global 2000 rankings, reflecting the increasing role of technology in the global economy. Companies like Apple Inc., Microsoft, and Alibaba Group Holding are among the top companies on the list, demonstrating the strength and influence of the technology industry.
The editor says: The Forbes Global 2000 rankings provide a snapshot of the global economy and reveal key trends and factors that shape it. The rankings highlight the impact of COVID-19, the rise of Chinese companies, and the importance of technology in driving economic growth.
In conclusion, the Forbes Global 2000 rankings for 2021 provide valuable insights into the world's largest public companies. The rankings reveal the dominance of the financial, industrial, and oil and gas industries, as well as the impact of COVID-19, the rise of Chinese companies, and the importance of technology. The top companies on the list, including ICBC, China Construction Bank, and JPMorgan Chase & Co., are leaders in their respective industries and demonstrate the strength and impact of global corporations. As the global economy continues to evolve, the Forbes Global 2000 rankings will remain a vital tool for assessing the strength and performance of global companies.
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