• Sunday, June 23, 2024
businessday logo

BusinessDay

Here are the most valuable companies by continent

Here are the most valuable companies by continent

The largest companies in the world are typically compared by market capitalization, which represents the cost of purchasing all a company’s outstanding shares at their current prices.

In the dynamic landscape of global commerce, the significance of multinational corporations extends beyond their balance sheets.

These economic powerhouses shape industries, drive innovation, and influence market trends. By examining the most valuable companies by continent, we have gained a unique perspective on the economic dynamics and corporate landscapes of each region.

Read also: Top 10 biggest companies by market capitalization in 2024

Here are the most valuable companies by continent by market capitalization as of May 22, 2024

1. North America — Microsoft (MSFT): $3.19 trillion

In the heart of technological innovation, North America boasts Microsoft as its reigning champion in market capitalization. With a staggering valuation of $3.19 trillion, Microsoft epitomizes the dominance of the tech sector in the region.

Founded by Bill Gates and Paul Allen in 1975, Microsoft has evolved from a software company into a multifaceted technology giant, offering a wide array of products and services ranging from operating systems to cloud computing and artificial intelligence.

2. South America — Petrobras (PBR): $96.81 billion

Petrobras stands tall as the largest company by market capitalization in South America, with a valuation of $96.81 billion. As a Brazilian multinational energy corporation, Petrobras plays a pivotal role in driving the region’s energy sector and economic growth.

Founded in 1953, Petrobras has grown into one of the world’s largest oil and gas companies, with operations spanning exploration, production, refining, and distribution.

Read also: 10 world’s largest fashion companies by 2024 market capitalisation

3. Europe — Novo Nordisk (NVO): $598.13 billion

In Europe, Novo Nordisk reigns supreme with a market capitalization of $598.13 billion. As a Danish multinational pharmaceutical company, Novo Nordisk specializes in the development and production of diabetes care medications and other biopharmaceuticals.

Founded in 1923, the company has emerged as a global leader in diabetes treatment, leveraging cutting-edge research and innovation to address the growing prevalence of the disease.

4. Asia — Saudi Aramco (2222. SR): $1.93 trillion

Saudi Aramco in Asia stands out as the largest company by market capitalization, boasting a valuation of $1.93 trillion. As the world’s largest oil producer and exporter, Saudi Aramco holds a dominant position in the global energy market.

Founded in 1933, the Saudi Arabian state-owned company operates across the entire oil and gas value chain, from exploration and production to refining and distribution.

Read also: 10 largest companies in South Africa by 2024 market capitalisation

5. Africa — Naspers (NPN.JO): $38.53 billion

In Africa, Naspers emerges as the largest company by market capitalization, with a valuation of $38.53 billion. As a South African multinational conglomerate, Naspers has diversified interests across various sectors, including technology, e-commerce, media, and telecommunications.

Founded in 1915, the company has evolved from a traditional newspaper publisher into a global player in the digital economy.

6. Australia — BHP Group (BHP): $148.61 billion

BHP Group stands as the largest company by market capitalization in Australia, with a valuation of $148.61 billion. As an Anglo-Australian multinational mining, metals, and petroleum company, BHP Group plays a crucial role in driving the country’s resource-based economy.

With a history dating back to the 19th century, BHP Group has grown into one of the world’s largest diversified natural resources companies.