Saudi Aramco Profit: Highest profit in the world, market cap ten times bigger than Reliance, after all who is this milch cow! Saudi arabian oil giant aramco on sunday reported a record annual net profit
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According to companiesmarketcap.com, the US tech giant Apple is the world’s largest company by market cap. Its market value is $ 2.353 trillion. Saudi Aramco is at number two in this list. Its market cap is $1.933 trillion. Eight of the top 10 companies in this list are from the US. India’s most valuable company Reliance Industries is at number 50 in this list. Its market cap is $ 186.83 billion. But in terms of profit, Saudi Aramco is at number one. The company earned a profit of $ 161.1 billion last year, which is equal to the net worth of Elon Musk, the world’s second largest billionaire. According to the Bloomberg Billionaire Index, Musk’s net worth is $165 billion.
Was established in America
Saudi Aramco is the world’s largest oil producer company. It was founded in 1933 as an American company and began extracting oil in 1938. The Saudi government bought a 25 percent stake in it in 1973 and then 100 percent in the late 1970s. Its headquarters was also shifted from America to Saudi. Today this company has 261.1 billion barrels of oil reserves, which is ten times more than the US company ExxonMobil. This company extracts 95.4 lakh barrels of oil daily. One out of every eight barrels of oil in the world is from this company. In 2019, this company brought IPO.
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It started in America but today its biggest client is not America but China. More than 60 thousand employees work in Saudi Aramco. Of these, 51,653 are from Saudi Arabia. Along with this, 10,254 employees from 77 countries also work in it. The company’s business is spread across China, Egypt, Japan, India, Netherlands, South Korea, Singapore, UAE, UK and USA. It was the first company in the world to touch a market cap of three trillion dollars. But later Apple overtook it.
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