Walmart still world’s largest company, tops Fortune Global 500

Energy, automotive companies dominate Top 10 list
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Walmart tops Fortune Global 500 list
The logo of Down Jones Industrial Average stock market index listed company Walmart is shown on one of its stores in Encinitas, California April 13, 2016. Reuters/Mike Blake

American retail giant Walmart remains on top of Fortune Global 500, which lists the world’s biggest companies that cumulatively generated US$1.5 trillion (AU$2 trilion) in profits in 2015.

According to Fortune magazine, Walmart continues to be the world’s largest company for three years now after raking in revenues worth US$482 billion (AU$646 billion) last year. Despite sustaining the Top 1 ranking in the list, Walmart says total sales fell for the first time in 2015.

State-owned State Grid Corp. of China rises to the Top 2 spot from its previous 7th ranking as it registered US$329 billion (AU$441 billion) in revenues. With huge spending on solar farms, wind and alternative energy sources, State Grid remains the world’s largest electric utility company.

China National Petroleum steps up to the third from its previous fourth ranking on the Fortune Global 500 list with $299 billion (AU$401 billion)in revenues for 2015 while Sinopec Group, which formerly ranked Top 2, slides to the fourth spot with US$294 billion (AU$393 billion) in revenues.

Royal Dutch Shell falls to Top 5 from its previous third ranking on the list after generating $272 billion (AU$364 billion) and another energy company, Exxon Mobil of the US, also slides to sixth from its previous fifth ranking, with US$246 billion (AU$330 billion) worth of revenues for 2015.

Automotive companies Volkswagen of Germany climbs the list at Top 7 with US$237 billion (AU$318 billion)  revenues while Toyota Motor of Japan lands secures the eight rank with US$236 billion  (AU$316 billion).

Technology company Apple records the highest leap to Top 9 from its previous 15th ranking after generating $234 billion  (AU$313 billion) in revenues for 2015, making it the undisputed most profitable publicly-traded company in the world.

In contrast, Britain’s BP drops to Top 10 from its previous sixth ranking with US$225 billion (AU$301 billion) worth of revenues for 2015.

Fortune magazine ranks companies around the globe based on the total revenues for their respective fiscal years that ended on or before March 31, 2016. According to Fortune, the world’s 500 largest companies have employed 67 million people across 33 countries and generated a total of US$27.6 trillion (AU$30.3 trillion) in revenues.

See the complete list of Fortune Global 500 companies here.