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Saudi aramco should never be on these lists because it barely counts as a company if it does at all
I think it made the list based on being publicly traded
Market capitalization, or market cap, is one measure of a company’s value as determined by the stock market. It is easily calculated by multiplying the company’s outstanding shares by its current share price.
In this graphic, we present a treemap chart that visualizes the world’s top 50 publicly-traded companies by market cap, using data as of Aug. 16, 2023.
Correct.
Yes it did. But unlike most publicly traded companies only a small proportion of the company is actually available as shares. The Saudi government controls 98.2% of the shares. So the $2.2tn valuation, while accurate, would likely not be as big if everyone else didn’t have to fight over 1.8% of the company. And unlike normal companies, the laws they follow can be changed if the company wants them to be. Buying shares of Saudi Aramco is like investing directly into the Saudi government.
Compared to the rest of the companies on this list, it is in a hugely different situation.
In what way does it not count as a company?
https://lemmy.ml/comment/3055032
Here is a link to another comment I just made, hopefully expanding what I meant in my original comment.
That's just more similar to a majority privately owned company though, as the Saudi government is just the royal family. That doesn't mean its not a company.
True, but the saudi government can and do change the laws to allow the company to make more money. It’s more akin to buying shares in Saudi Arabia than it is to buying shares in a company.
As opposed to how the US government can and does change the laws to allow the company to make more money?
Yeah, obviously it sucks to support the Saudi royal family, but honestly, it's not any worse than buying shares in Raytheon, Northrup Grumman, Shell or BP. All of them are terrible companies doing terrible things to our world.
But the US government doesn’t do they. Not really. It’s highly illegal to do it for any reason that could be seen to be personal gain. You can’t count on any other country and company to bend the rules so that the company you invest in can benefit. Every other company on this list has to follow the law or face the consequences (those consequences may not be enough but that’s a different problem).
Uh, yeah, they do. They do it all the time?
But they don’t do they. You’re just making it up. If anything like that happens, it’s very rare and definitely not all the time.