Saudi Aramco Is World’s Most Profitable Company, Beating Apple by Far
The earnings of Saudi Arabia’s giant oil company have long been a mystery, kept under wraps by the country’s government. But on Monday, Saudi Aramco opened its books, revealing that it generated $111.1 billion in net income last year, making it probably the world’s most profitable company by far. It handily beat Apple ($59.5 billion in net income in 2018) and ran laps around other oil companies like Royal Dutch Shell ($23.9 billion) and Exxon Mobil ($20.8 billion). The disclosure reveals a company that is hugely profitable but also tightly bound to one country and the price of oil.
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