Which company is the richest in the world? It depends on what you mean by “networth,” and the answer changes depending on the measure. If you are looking for the company with the highest networth, here are the three ways to count and who has led under each.
Company with the highest networth, measure 1: market capitalisation
The most common ranking looks at market capitalisation, which is the share price multiplied by the number of shares. It shows what investors collectively value the company at on a given day.
In recent years the top of that list has been dominated by US technology companies. Microsoft and Apple each passed $3 trillion and then $4 trillion at different points, with Apple crossing $4 trillion in October 2025 and Microsoft in mid-2025. The chip designer Nvidia became the first company to be valued at $5 trillion in late October 2025, according to widely reported market data. Alphabet (Google’s parent), Amazon, Saudi Aramco, Meta and Berkshire Hathaway also appear among the largest. Aramco, the state-controlled oil company, has been valued at more than a trillion dollars in some years.
These figures change every trading day, so the “richest” company by market value can flip in a matter of weeks. Always date any ranking.
Measure 2: Book value (shareholders’ equity)
Accounting net worth is total assets minus total liabilities on the balance sheet. This is very different from market value, and it produces a different league table.
Berkshire Hathaway usually ranks at or near the top among US companies by shareholders’ equity, with a figure well in excess of $600 billion in recent annual reports, thanks to decades of retained profits and investments. Several big banks and energy companies also carry large equity. By contrast, some of the most valuable tech companies have small book equity relative to their market value, because much of their value comes from intangible assets such as software, brands and customer networks that are not fully recorded on the balance sheet, and because some return a lot of cash to shareholders.
So if someone asks for the company with the highest net worth in the accounting sense, the answer is often Berkshire Hathaway. If they mean what the market thinks, it is often a tech company.
Measure 3: Enterprise value
Enterprise value is market cap plus debt, minus cash. It is the number analysts use when comparing companies with different levels of borrowing. For banks and companies with a lot of debt, it is more informative than market cap.
Why they differ so much
- Market value reflects expectations about future earnings.
- Book value reflects historical costs and accumulated profits.
- Intangibles such as brand and technology often do not appear on the balance sheet.
- Buybacks reduce equity and can push book value down while the company is thriving.
State-owned and private giants
Some of the largest companies in the world are not listed or are partly owned by governments. Saudi Aramco is a listed company in which the Saudi state holds the vast majority of shares. Some very valuable firms, such as large private technology and aerospace companies, do not have a market price at all, so rankings rely on valuations from funding rounds.
How to check the current ranking
1. Look at a live list of the largest companies by market capitalisation, such as those published by financial data sites. 2. For equity, read the balance sheet in the latest annual report, listed on the company’s investor-relations page. 3. Note the date and the currency. 4. Compare at least two sources.
A careful sentence to use
“As of late October 2025, Nvidia was reported to be the first company with a market capitalisation of $5 trillion, while Berkshire Hathaway reported the largest shareholders’ equity among US companies.” That statement is dated and defines the measure.
What the numbers say about the economy
The dominance of technology companies on the market-cap list reflects investor expectations about artificial intelligence, cloud services and consumer technology. The dominance of a conglomerate such as Berkshire in book value reflects decades of reinvested profits across insurance, railways, utilities and investments. Neither is better; they answer different questions.
In short
The company with the highest networth depends on your definition: by market value, a large US technology firm, with Nvidia first past $5 trillion in 2025; by book equity, often Berkshire Hathaway. Check a live source for today’s ranking and always say which measure you are using.
More to read
- Venture Capital News: How to Read Funding Headlines
- TechCrunch Disrupt 2026: What Founders Get From Going
Image credit: Nils Huenerfuerst via Wikimedia Commons (CC0).
