Saudi Aramco tops profit chart, leaving tech titans in its wake

According to the Forbes Global 2000, Saudi state oil enterprise Saudi Aramco is once again the world's most profitable company - this time with a big lead over second-placed Apple as oil and gas prices skyrocketed as part of the global energy crisis in the aftermath of the Russian invasion of Ukraine.

As Statista's Katharina Buchholz reports, there are now three oil and gas giants among the top 8 most profitable companies in the world - up from just one in 2019, OilPrice.com reports.

Saudi Aramco had already been touted as the most profitable company in the world before going public in late 2019.

Previously, Apple had been the world's most profitable business endeavour but was relegated to rank 3 that year by runner-up Berkshire Hathaway.

Apple and Microsoft rose again into ranks 2 and 3 in 2020, as the companies benefited majorly from people working and socializing online during the early stages of the pandemic - where they remain in 2022.

Since profits are known only for publicly listed companies or those planning to become listed on a stock exchange, the earnings of a large number of companies around the world, especially state companies, remain unknown and are not included on the list.