List of public corporations by market capitalization
Publicly traded companies -- 2003
Table:
Rank

Name

Headquarters

Primary industry

Market value (USD million)

1
General Electric
United States
Conglomerate
299,336

2
Microsoft
United States
Software industry
271,911

3
Exxon Mobil
United States
Oil and gas
263,940

4
Pfizer
United States
Health care
261,616

5
Citigroup
United States
Banking
259,191

6
Wal-Mart
United States
Retail
258,888

7
American International Group
United States
Insurance
183,696

8
Intel Corporation
United States
Computer hardware
179,996

9
BP
United Kingdom
Oil and gas
174,648

10
HSBC
United Kingdom
Banking
163,574

Looking at the tabular data together with the relevant paragraphs below.

Respond to the question below: What primary industry is the company in where approximately 55.56 % of the company 's shares are held by institutions ? Respond with the correct answer (omit explanations) in JSON format as {"answer": "YOUR ANSWER"}. Use only the information given.

The United States dollar ( sign : $ ; code : USD ; also abbreviated US $ and referred to as the dollar , U.S. dollar , or American dollar ) is the official currency of the United States and its territories per the Coinage Act of 1792 . One dollar is divided into 100 cents ( Symbol : ¢ ) or 1000 mills ( for accounting purposes and for taxing . Symbol : ₥ ) . The Coinage Act of 1792 created a decimal currency by creating the following coins : tenth dollar , one-twentieth dollar , one-hundredth dollar . In addition the act created the dollar , half dollar , and quarter dollar coins . All of these coins are still minted in 2020 . In addition , several forms of paper money were introduced by Congress over the years . The latest of these , the Federal Reserve Note , was authorized by the Federal Reserve Act of 1913 , while all existing U.S. currency remains legal tender . Issuance of the previous form of the currency ( U.S. notes ) was discontinued in January 1971 . As a result , currently circulating paper money consists primarily of Federal Reserve Notes that are denominated in United States dollars ( 12 U.S.C . § 418 ) . Since the suspension in 1971 of convertibility of paper U.S. currency into any precious metal , the U.S. dollar is de facto fiat money .
General Electric Company ( GE ) is an American multinational conglomerate incorporated in New York City and headquartered in Boston . As of 2018 [ update ] , the company operates through the following segments : aviation , healthcare , power , renewable energy , digital industry , additive manufacturing , venture capital and finance and lighting . In 2018 , GE ranked among the Fortune 500 as the 18th-largest firm in the U.S. by gross revenue . In 2011 , GE ranked among the Fortune 20 as the 14th-most profitable company but has since very severely underperformed the market ( by about 75% ) as its profitability collapsed . Two employees of GE - Irving Langmuir ( 1932 ) and Ivar Giaever ( 1973 ) - have been awarded the Nobel Prize .
A conglomerate is a multi-industry company - i.e. , a combination of multiple business entities operating in entirely different industries under one corporate group , usually involving a parent company and many subsidiaries . Conglomerates are often large and multinational . Conglomerates were popular in the 1960s due to a combination of low interest rates and a repeating bear-bull market , which allowed the conglomerates to buy companies in leveraged buyouts , sometimes at temporarily deflated values . Famous examples from the 1960s include Ling-Temco-Vought , ITT Corporation , Litton Industries , Textron , Teledyne . Because of low interest on the loans , the overall return on investment of the conglomerate appeared to grow . In addition , the conglomerate had a better ability to borrow in the money market , or capital market , than the smaller firm at their community bank . [ citation needed ] For many years this was enough to make the company 's stock price rise , as companies were often valued largely on their return on investment . The aggressive nature of the conglomerators themselves was enough to make many investors , who saw a powerful and seemingly unstoppable force in business , buy their stock . [ citation needed ] High stock prices allowed them to raise more loans , based on the value of their stock , and thereby buy even more companies . This led to a chain reaction , which allowed them to grow very rapidly . However , all of this growth was somewhat illusory and when interest rates rose to offset inflation , conglomerate profits fell . Investors noticed that the companies inside the conglomerate were growing no faster than before they were purchased , whereas the rationale for buying a company was that synergies would provide efficiency .
Microsoft Corporation is an American multinational technology company with headquarters in Redmond , Washington . It develops , manufactures , licenses , supports , and sells computer software , consumer electronics , personal computers , and related services . Its best known software products are the Microsoft Windows line of operating systems , the Microsoft Office suite , and the Internet Explorer and Edge web browsers . Its flagship hardware products are the Xbox video game consoles and the Microsoft Surface lineup of touchscreen personal computers . In 2016 , it was the world 's largest software maker by revenue ( currently Alphabet/Google has more revenue ) . The word Microsoft is a portmanteau of microcomputer and software . Microsoft is ranked No . 30 in the 2018 Fortune 500 rankings of the largest United States corporations by total revenue . Microsoft was founded by Bill Gates and Paul Allen on April 4 , 1975 , to develop and sell BASIC interpreters for the Altair 8800 . It rose to dominate the personal computer operating system market with MS-DOS in the mid-1980s , followed by Microsoft Windows . The company 's 1986 initial public offering ( IPO ) , and subsequent rise in its share price , created three billionaires and an estimated 12,000 millionaires among Microsoft employees . Since the 1990s , it has increasingly diversified from the operating system market and has made a number of corporate acquisitions , their largest being the acquisition of LinkedIn for $ 26.2 billion in December 2016 , followed by their acquisition of Skype Technologies for $ 8.5 billion in May 2011 .
The software industry includes businesses for development , maintenance and publication of software that are using different business models , mainly either license/maintenance based ( on-premises ) or Cloud based ( such as SaaS , PaaS , IaaS , MaaS , AaaS , etc. ) . The industry also includes software services , such as training , documentation , consulting and data recovery .
Exxon Mobil Corporation , doing business as ExxonMobil , is an American multinational oil and gas corporation headquartered in Irving , Texas . It is the largest direct descendant of John D. Rockefeller 's Standard Oil , and was formed on November 30 , 1999 by the merger of Exxon ( formerly the Standard Oil Company of New Jersey ) and Mobil ( formerly the Standard Oil Company of New York ) . ExxonMobil 's primary brands are Exxon , Mobil , Esso , and ExxonMobil Chemical . ExxonMobil is incorporated in Texas . One of the world 's largest companies by revenue , ExxonMobil from 1996 to 2017 varied from the first to sixth largest publicly traded company by market capitalization . The company was ranked ninth globally in the Forbes Global 2000 list in 2016 . ExxonMobil was the tenth most profitable company in the Fortune 500 in 2017 . As of 2018 , the company ranked second in the Fortune 500 rankings of the largest United States corporations by total revenue . Approximately 55.56% of the company 's shares are held by institutions . As of March 2019 , ExxonMobil 's largest shareholders include The Vanguard Group ( 8.15% ) , BlackRock ( 6.61% ) , and State Street Corporation ( 4.83% ) . ExxonMobil is one of the largest of the world 's Big Oil companies . As of 2007 [ update ] , it had daily production of 3.921 million BOE ( barrels of oil equivalent ) ; but significantly smaller than a number of national companies .
The petroleum industry , also known as the oil industry or the oil patch , includes the global processes of exploration , extraction , refining , transporting ( often by oil tankers and pipelines ) , and marketing of petroleum products . The largest volume products of the industry are fuel oil and gasoline ( petrol ) . Petroleum ( oil ) is also the raw material for many chemical products , including pharmaceuticals , solvents , fertilizers , pesticides , synthetic fragrances , and plastics . The extreme monetary value of oil and its products has led to it being known as black gold . The industry is usually divided into three major components : upstream , midstream , and downstream . Upstream deals with Drilling and Production mainly . Petroleum is vital to many industries , and is necessary for the maintenance of industrial civilization in its current configuration , making it a critical concern for many nations . Oil accounts for a large percentage of the worlds energy consumption , ranging from a low of 32% for Europe and Asia , to a high of 53% for the Middle East . Other geographic regions ' consumption patterns are as follows : South and Central America ( 44% ) , Africa ( 41% ) , and North America ( 40% ) . The world consumes 30 billion barrels ( 4.8 km³ ) of oil per year [ citation needed ] , with developed nations being the largest consumers . The United States consumed 25% of the oil produced in 2007 . The production , distribution , refining , and retailing of petroleum taken as a whole represents the world 's largest industry in terms of dollar value .
Pfizer Inc. ( /ˈfaɪzər/ ) is an American multinational pharmaceutical corporation headquartered in New York City . It is one of the world 's largest pharmaceutical companies . It is listed on the New York Stock Exchange , and its shares have been a component of the Dow Jones Industrial Average since 2004 . Pfizer ranked No . 57 on the 2018 Fortune 500 list of the largest United States corporations by total revenue . On December 19 , 2018 , Pfizer announced a joint merger of their consumer healthcare division with UK pharma giant GlaxoSmithKline ; the British company will maintain a controlling share ( listed at 68% ) . The company developed and produces medicines and vaccines for a wide range of medical disciplines , including immunology , oncology , cardiology , endocrinology , and neurology . Its products include the blockbuster drug Lipitor ( atorvastatin ) , used to lower LDL blood cholesterol ; Lyrica ( pregabalin ) for neuropathic pain and fibromyalgia ; Diflucan ( fluconazole ) , an oral antifungal medication ; Zithromax ( azithromycin ) , an antibiotic ; Viagra ( sildenafil ) for erectile dysfunction ; and Celebrex ( also Celebra , celecoxib ) , an anti-inflammatory drug . In 2016 , Pfizer Inc. was expected to merge with Allergan , plc to create the Ireland-based Pfizer plc in a deal that would have been worth $ 160 billion . The merger was called off in April 2016 , however , because of new rules from the United States Treasury against tax inversions , a method of avoiding taxes by merging with a foreign company . The company has made the second-largest pharmaceutical settlement with the United States Department of Justice .
Health care , health-care , or healthcare is the maintenance or improvement of health via the prevention , diagnosis , treatment , recovery , or cure of disease , illness , injury , and other physical and mental impairments in people . Health care is delivered by health professionals in allied health fields . Physicians and physician associates are a part of these health professionals . Dentistry , pharmacy , midwifery , nursing , medicine , optometry , audiology , psychology , occupational therapy , physical therapy , athletic training and other health professions are all part of health care . It includes work done in providing primary care , secondary care , and tertiary care , as well as in public health . Access to health care may vary across countries , communities , and individuals , influenced by social and economic conditions as well as health policies . Providing health care services means the timely use of personal health services to achieve the best possible health outcomes . Factors to consider in terms of healthcare access include financial limitations ( such as insurance coverage ) , geographic barriers ( such as additional transportation costs , possibility to take paid time off of work to use such services ) , and personal limitations ( lack of ability to communicate with healthcare providers , poor health literacy , low income ) . Limitations to health care services affects negatively the use of medical services , efficacy of treatments , and overall outcome ( well-being , mortality rates ) . Health care systems are organizations established to meet the health needs of targeted populations . According to the World Health Organization ( WHO ) , a well-functioning health care system requires a financing mechanism , a well-trained and adequately paid workforce , reliable information on which to base decisions and policies , and well maintained health facilities to deliver quality medicines and technologies . An efficient health care system can contribute to a significant part of a country 's economy , development and industrialization .
Citigroup Inc. or Citi ( stylized as citi ) is an American multinational investment bank and financial services corporation headquartered in New York City . The company was formed by the merger of banking giant Citicorp and financial conglomerate Travelers Group in 1998 ; Travelers was subsequently spun off from the company in 2002 . Citigroup owns Citicorp , the holding company for Citibank , as well as several international subsidiaries . Citi is incorporated in NY . Citigroup is ranked 3rd on the list of largest banks in the United States and , alongside JPMorgan Chase , Bank of America , and Wells Fargo , it is one of the Big Four banks of the United States . It is a systemically important financial institution and is on the list of systemically important banks that think they are too big to fail . It is one of the nine global investment banks in the Bulge Bracket . Citigroup is ranked 30th on the Fortune 500 as of 2019 . Citigroup has over 200 million customer accounts and does business in more than 160 countries . It has 214,000 employees , although it had 357,000 employees before the financial crisis of 2007-2008 , when it was rescued via a massive stimulus package by the U.S. government .
A bank is a financial institution that accepts deposits from the public and creates credit . Lending activities can be performed either directly or indirectly through capital markets . Due to their importance in the financial stability of a country , banks are highly regulated in most countries . Most nations have institutionalized a system known as fractional reserve banking under which banks hold liquid assets equal to only a portion of their current liabilities . In addition to other regulations intended to ensure liquidity , banks are generally subject to minimum capital requirements based on an international set of capital standards , known as the Basel Accords . Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways was a continuation of ideas and concepts of credit and lending that had their roots in the ancient world . In the history of banking , a number of banking dynasties - notably , the Medicis , the Fuggers , the Welsers , the Berenbergs , and the Rothschilds - have played a central role over many centuries . The oldest existing retail bank is Banca Monte dei Paschi di Siena , while the oldest existing merchant bank is Berenberg Bank .
Walmart Inc. ( /ˈwɔːlmɑːrt/ ; formerly Wal-Mart Stores , Inc. ) is an American multinational retail corporation that operates a chain of hypermarkets , discount department stores , and grocery stores , headquartered in Bentonville , Arkansas . The company was founded by Sam Walton in 1962 and incorporated on October 31 , 1969 . It also owns and operates Sam 's Club retail warehouses . As of January 31 , 2020 , [ update ] Walmart has 11,503 stores and clubs in 27 countries , operating under 55 different names . The company operates under the name Walmart in the United States and Canada , as Walmart de México y Centroamérica in Mexico and Central America , as Asda in the United Kingdom , as the Seiyu Group in Japan , and as Best Price in India . It has wholly owned operations in Argentina , Chile , Canada , and South Africa . Since August 2018 , Walmart only holds a minority stake in Walmart Brasil , which was renamed Grupo Big in August 2019 , with 20 percent of the company 's shares , and private equity firm Advent International holding 80 percent ownership of the company . Walmart is the world 's largest company by revenue , with US $ 514.405 billion , according to the Fortune Global 500 list in 2019 . It is also the largest private employer in the world with 2.2 million employees . It is a publicly traded family-owned business , as the company is controlled by the Walton family . Sam Walton 's heirs own over 50 percent of Walmart through their holding company Walton Enterprises and through their individual holdings . Walmart was the largest U.S. grocery retailer in 2019 , and 65 percent of Walmart 's US $ 510.329 billion sales came from U.S. operations .
Retail is the process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit . Retailers satisfy demand identified through a supply chain . The term retailer is typically applied where a service provider fills the small orders of many individuals , who are end-users , rather than large orders of a small number of wholesale , corporate or government clientele . Shopping generally refers to the act of buying products . Sometimes this is done to obtain final goods , including necessities such as food and clothing ; sometimes it takes place as a recreational activity . Recreational shopping often involves window shopping and browsing : it does not always result in a purchase . Retail markets and shops have a very ancient history , dating back to antiquity . Some of the earliest retailers were itinerant peddlers . Over the centuries , retail shops were transformed from little more than rude booths to the sophisticated shopping malls of the modern era . Most modern retailers typically make a variety of strategic level decisions including the type of store , the market to be served , the optimal product assortment , customer service , supporting services and the store 's overall market positioning . Once the strategic retail plan is in place , retailers devise the retail mix which includes product , price , place , promotion , personnel , and presentation . In the digital age , an increasing number of retailers are seeking to reach broader markets by selling through multiple channels , including both bricks and mortar and online retailing .
American International Group , Inc. , also known as AIG , is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions . As of December 31 , 2016 [ update ] , AIG companies employed 56,400 people . The company operates through three core businesses : General Insurance , Life & Retirement , and a standalone technology-enabled subsidiary . General Insurance includes Commercial , Personal Insurance , U.S. and International field operations . Life & Retirement includes Group Retirement , Individual Retirement , Life , and Institutional Markets . AIG 's corporate headquarters are in New York City and the company also has offices around the world . AIG serves 87% of the Fortune Global 500 and 83% of the Forbes 2000 . AIG was ranked 60th on the 2018 Fortune 500 list . According to the 2016 Forbes Global 2000 list , AIG is the 87th largest public company in the world . On December 31 , 2017 , AIG had $ 65.2 billion in shareholder equity . During the financial crisis of 2008 , the Federal Reserve bailed the company out for $ 180 billion and assumed control , with the Financial Crisis Inquiry Commission correlating AIG 's failure with the mass sales of unhedged insurance . In 2011 the nationalization of AIG was ruled illegal , and after regaining autonomy , AIG repaid $ 205 billion to the United States government in 2012 .
Insurance is a means of protection from financial loss . It is a form of risk management , primarily used to hedge against the risk of a contingent or uncertain loss . An entity which provides insurance is known as an insurer , insurance company , insurance carrier or underwriter . A person or entity who buys insurance is known as an insured or as a policyholder . The insurance transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer 's promise to compensate the insured in the event of a covered loss . The loss may or may not be financial , but it must be reducible to financial terms , and usually involves something in which the insured has an insurable interest established by ownership , possession , or pre-existing relationship . The insured receives a contract , called the insurance policy , which details the conditions and circumstances under which the insurer will compensate the insured . The amount of money charged by the insurer to the policyholder for the coverage set forth in the insurance policy is called the premium . If the insured experiences a loss which is potentially covered by the insurance policy , the insured submits a claim to the insurer for processing by a claims adjuster . The insurer may hedge its own risk by taking out reinsurance , whereby another insurance company agrees to carry some of the risk , especially if the primary insurer deems the risk too large for it to carry .
Intel Corporation ( commonly known as Intel and stylized as intel ) is an American multinational corporation and technology company headquartered in Santa Clara , California , in Silicon Valley . It is the world 's largest and highest valued semiconductor chip manufacturer based on revenue , and is the inventor of the x86 series of microprocessors , the processors found in most personal computers ( PCs ) . Intel ranked No . 46 in the 2018 Fortune 500 list of the largest United States corporations by total revenue . Intel is incorporated in Delaware . Intel supplies processors for computer system manufacturers such as Apple , Lenovo , HP , and Dell . Intel also manufactures motherboard chipsets , network interface controllers and integrated circuits , flash memory , graphics chips , embedded processors and other devices related to communications and computing . Intel Corporation was founded on July 18 , 1968 , by semiconductor pioneers Robert Noyce and Gordon Moore ( of Moore 's law ) , and is associated with the executive leadership and vision of Andrew Grove . The company 's name was conceived as portmanteau of the words integrated and electronics , with co-founder Noyce having been a key inventor of the integrated circuit ( microchip ) . The fact that intel is the term for intelligence information also made the name appropriate . Intel was an early developer of SRAM and DRAM memory chips , which represented the majority of its business until 1981 . Although Intel created the world 's first commercial microprocessor chip in 1971 , it was not until the success of the personal computer ( PC ) that this became its primary business .
Computer hardware includes the physical parts of a computer , such as the case , central processing unit ( CPU ) , monitor , keyboard , computer data storage , graphics card , sound card , speakers and motherboard . By contrast , software is the set of instructions that can be stored and run by hardware . Hardware is so-termed because it is hard or rigid with respect to changes , whereas software is soft because it is easy to change . Hardware is typically directed by the software to execute any command or instruction . A combination of hardware and software forms a usable computing system , although other systems exist with only hardware .
BP plc ( formerly The British Petroleum Company plc and BP Amoco plc ) is a multinational oil and gas company headquartered in London , England . It is one of the world 's seven oil and gas supermajors , whose performance in 2012 made it the world 's sixth-largest oil and gas company , the sixth-largest energy company by market capitalization and the company with the world 's 12th-largest revenue ( turnover ) . It is a vertically integrated company operating in all areas of the oil and gas industry , including exploration and production , refining , distribution and marketing , petrochemicals , power generation and trading . It also has renewable energy interests in biofuels , wind power and solar technology . As of 31 December 2018 [ update ] , BP had operations in nearly 80 countries worldwide , produced around 3.7 million barrels per day ( 590,000 m3/d ) of oil equivalent , and had total proven reserves of 19.945 billion barrels ( 3.1710×109 m3 ) of oil equivalent . The company has around 18,700 service stations worldwide . Its largest division is BP America in the United States . In Russia , BP owns a 19.75% stake in Rosneft , the world 's largest publicly traded oil and gas company by hydrocarbon reserves and production . BP has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index . It has secondary listings on the Frankfurt Stock Exchange and the New York Stock Exchange . BP 's origins date back to the founding of the Anglo-Persian Oil Company in 1908 , established as a subsidiary of Burmah Oil Company to exploit oil discoveries in Iran . In 1935 , it became the Anglo-Iranian Oil Company and in 1954 adopted the name British Petroleum .
HSBC Holdings plc is an English multinational investment bank and financial services holding company . It was the 7th largest bank in the world by 2018 , and the largest in Europe , with total assets of US $ 2.558 trillion ( as of December 2018 [ update ] ) . HSBC traces its origin to a hong in Hong Kong , and its present form was established in London by the Hongkong and Shanghai Banking Corporation to act as a new group holding company in 1991 ; its name derives from that company 's initials . The Hongkong and Shanghai Banking Corporation opened branches in Shanghai in 1865 and was first formally incorporated in 1866 . HSBC has around 3,900 offices in 65 countries and territories across Africa , Asia , Oceania , Europe , North America , and South America , and around 38 million customers . As of 2014 , it was the world 's sixth-largest public company , according to a composite measure by Forbes magazine . HSBC is organised within four business groups : Commercial Banking , Global Banking and Markets ( investment banking ) , Retail Banking and Wealth Management , and Global Private Banking . HSBC has a dual primary listing on the Hong Kong Stock Exchange and London Stock Exchange and is a constituent of the Hang Seng Index and the FTSE 100 Index . As of 6 July 2012 , it had a market capitalisation of £102.7 billion , the second-largest company listed on the London Stock Exchange , after Royal Dutch Shell . It has secondary listings on the New York Stock Exchange , Euronext Paris , and the Bermuda Stock Exchange .