At $159 Billion, This Saudi Company Beats Apple & Google To Become World's Most Profitable Business

What comes to mind when asked about?the?world’s most profitable company? More often than not, tech giants like Apple, Google, or Microsoft are likely to come to mind, right?

But the answer is none of these.

Saudi Aramco Is The World's Most Profitable Company

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Also Read:?Not Apple Or Tesla, This Chinese Company Was?World's First?To Hit?$1 Trillion Market Cap?

In fact, as per the Fortune 500 list, the company that?briefly dethroned Apple as the world's most valuable company has turned out to be the most profitable one too. It is the Saudi oil giant,?Saudi Aramco.

While in terms of revenue it sits in the second position in the world, only behind Walmart,?Saudi Aramco tops the Fortune 500?list?of 2023 in terms of the world’s most profitable company.

With a mammoth profit of $159 billion that it hit last year, Saudi Aramco sits in the number 1 position in terms of the most profitable company.?If its trajectory continues, the oil giant could take the top spot on the world’s most valuable companies’ list too next year.

It had a revenue of $603 billion, only behind?Walmart?on the list, which had $611 billion in revenue last year. Saudi Aramco’s shares are up nearly 10% this year to date.

List of The World's 10 Most Profitable Companies 2023

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From Apple, Saudi Aramco, Google, and Shell, these are the world's 10 most profitable companies.

1.Saudi Aramco?

Profit-$159 billion??

2.Apple

Profit-$99 billion

3.Microsoft?

getty

Profit-$72 billion??

4.Alphabet

Reuters

Profit-$59 billion??

5.U.S. Postal Service?

Profit-$56 billion??

6.Exxon Mobil?

Profit-$55 billion??

7.Industrial & Commercial Bank of China

Profit-$53 billion??

8.China Construction Bank

chinadaily

Profit-$48 billion??

9.Samsung Electronics?

Profit-$42 billion??

10.Shell

istock

Profit-$42 billion

Also Read:?One Day, Tesla Will Be Worth More Than Apple And?Saudi Aramco,?Says Elon Musk

World's Biggest Oil Exporter Saudi Arabia To Raise Prices Further

Saudi Arabia, which is the world's biggest oil exporter, may raise its price for Arab Light crude for sale to Asian refiners for a third month as its voluntary output cuts may be extended, further tightening the supply of high-sulphur, or sour, crude, as per a Reuters report.

The country's state-owned oil giant, Saudi Aramco, may raise the official selling price (OSP) for its flagship Arab Light crude in September by about 45 cents from August to $3.65 a barrel above Oman and Dubai quotes, which would be the grade's highest premium this year.

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