When you think of the most profitable company in the world, you’d probably think of some tech giant like Apple or Samsung. But as it turns out, the most profitable company is not a tech company but rather an oil and gas company – to be specific it’s our very own Saudi Aramco.
According to Bloomberg, 2018’s most profitable company was Saudi Aramco. Its profits stood at a colossal $111.1 billion. No wonder that the expected 5% stake sale is set to become the biggest IPO on the planet.
The $111.1 billion Saudi Aramco profit is more than the combined profits of Apple, Google and Exxon Mobil, which stood at $59.5 billion, $35.1 billion and $20.8 billion respectively.
With huge profits by its side, Saudi Aramco is on track to purchase a majority stake in another Saudi petrochemical giant – Sabic. The former is expected to shell out $69 billion for the Sabic stake.