Apple surpassed as the most profitable company
National oil producing company of Saudi Arabia is now the most profitable company in the world. That’s right Apple and Microsoft are not even ready to follow the footsteps of Saudi Aramco.
According to the Wall Street Journal in 2018 Saudi Aramco oil giant added $356 billion. Clean profits here are about $111 billion. This is ABOVE Apple with $60 billion, Alphabet with $30.7 billion and Exxon Mobil with $21 billion put together.
This was the first time that Saudi Aramco opened up its revenue information before listing its bonds. The company is planning to issue $10 billion worth of bonds. With this money the management is planning to finance buying 70 percent of purchase of Saudi Basic Industries Corporation (Sabic).
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