For the third consecutive year, JPMorgan confirms its position as the largest company in the world. In the 2025 edition of Forbes’ Global 2000 ranking, the American bank retains the top spot, once again surpassing Warren Buffett’s Berkshire Hathaway, as it did in 2024. The Industrial and Commercial Bank of China (ICBC) ranks third, overtaking Saudi Aramco, now fourth, thus becoming the highest-ranked non-American company in the list.
The Global 2000, now in its 23rd edition, ranks the world’s largest publicly traded companies based on four criteria: revenue, profits, assets, and market value. JPMorgan leads the list with $285.11 billion in revenue, $59.36 billion in profits, $4.358 trillion in assets, and a market capitalization of $677.8 billion. It is the only company to rank within the global top 20 across all four categories.
Despite geopolitical tensions and trade disputes related to Donald Trump’s tariffs, the 2025 rankings have reached unprecedented levels. The 2,000 companies listed report a combined revenue of \$52.9 trillion, profits of \$4.9 trillion, assets totaling \$242.2 trillion, and a market capitalization of \$91.3 trillion. Compared to twenty years ago, the impact of globalization is clear: total revenues have grown by 140%, while profits, assets, and market capitalization have at least tripled.
The banking sector leads the rankings with 328 companies, including five of the top eight positions. It surpasses the technology sector, which, despite having 186 companies and holding the highest market capitalizations, generally possesses fewer assets. The list continues to be dominated by U.S. companies, which this year number 612 (compared to 621 the previous year), with seven of the top eleven spots occupied by giants such as JPMorgan, Berkshire Hathaway, Amazon, Bank of America, Alphabet, Microsoft, and Apple. China remains the main challenger, with 317 companies (including those from Hong Kong) and counts China Construction Bank and Agricultural Bank of China among the top ten.
Among the companies with the most significant gains are Nvidia, Disney—which climbed from 155th to 71st place—and Pfizer, which advanced from 436th to 73rd thanks to a notable recovery in profits. Conversely, companies that dropped in the rankings include BP, which fell 374 spots to 421st due to the decline in oil prices, and Intel, which lost ground to Nvidia, posting losses of \$19 billion over the past twelve months.
