The world’s most profitable company announced that the annual profit is twice that of Apple,
and the market value of the listed market will break through two trillions.
Fortune Magazine released the list of Fortune 500 companies in 2019. As the most authoritative and influential enterprise ranking in the world today, the Fortune Global 500 list has been released, which has aroused widespread concern around the world. It is worth mentioning that this Fortune magazine has also released one of the most The sub-list of earning 50 companies.
Among the influence of many people, Apple, a world-renowned technology company, has been the title of the world’s most profitable company for many years, and China’s four major banks remain the top ten in the list. However, it is surprising that in this list of the most profitable companies, Apple’s annual net profit of $59.531 billion in 2018 can only be ranked second, and the number one is the first one. A relatively strange company called Saudi Ami.
The full name of Saudi Aramco is called Arabia-American Oil Company. It is an oil company based in Saudi Arabia. In 2018, Saudi Aramco’s annual net profit was as high as $11 billion, almost twice that of Apple, but as an energy company, Saudi Ami The ability to absorb gold is not surprising, but why is such a super-heavy company suddenly listed on the top of the most profitable list after years of silence?
In fact, the history of Saudi Aramco can be traced back to 1933, but the US Mobil Oil Company and Saudi Arabia signed an agreement to obtain Saudi Arabia’s qualifications for oil exploration, mining, processing and transportation sales. For 66 years, he founded Saudi Aramco, which was named California-Africa Mobil Oil Company.
Since then, Texas Oil Company, New Jersey Mobil Oil Company, and New York Mobil Oil Company have joined Saudi Aramco in an attempt to gain a share of Saudi Arabia’s rich oil resources. Since then, Saudi Aramco has signed an offshore oil agreement with Saudi Arabia and has explored eight large oil fields with abundant reserves. Using Saudi Arabia’s cheap labor, Saudi Aramco has almost monopolized Saudi oil resources.
Seeing that Saudi Aramco earned a lot of money from relying on its own oil resources, the Saudi government was naturally very jealous, so it began to plan to acquire Saudi Aramco, which was actually to break the 66-year agreement period signed by the two sides. After the “unremitting efforts” of the Saudi government, the two sides finally reached an agreement in 1976, the Saudi government officially took over Saudi Aramco, at the cost of paying a considerable compensation to Mobil. However, with the strong profitability of Saudi Aramco, the Saudi government paid all the compensation in 1980.
Saudi Aramco has always been conservative in capital operations. After all, oil resources are Saudi Arabia’s strategic reserve resources. Previously, many relevant data about Saudi Aramco were kept secret, and this oil giant has no need for listing. So the performance data of this company has always been a mystery.
However, in early 2019, Saudi Aramco unveiled its 2018 performance report, showing that the company’s pre-tax income in 2018 was as high as $224 billion. The transformation of Saudi Aramco is also seen by the outside world as a signal for its upcoming listing. . This is also the reason why Saudi Aramco has become the most profitable company from the nameless name to the top.
It is reported that once the giant company is listed in the future, the company’s market value will probably exceed 2 trillion US dollars, twice that of today’s global market capitalization company Microsoft.