Fortune released its annual list of the World’s Most Admired Companies, with several notable tech companies claiming the top spot and some interesting shifts in position.
- Despite a challenging year for tech companies, they still rank among the most admired companies worldwide.
- Apple has retained its top spot as the most admired company—a title it’s claimed for 15 years in a row.
- Occidental Petroleum while low on the overall list, Occidental Petroleum achieved a top ranking among the minding and crude oil industries.
- Netflix lost its position as number nine on the all-star list and now sits at 29.
- Survey respondents generally agreed that Elon Musk is the world’s most overrated CEO.
Why it’s news
Fortune’s list of most admired companies considers more than just a company’s success. It also takes into consideration public perception.
Companies like Berkshire Hathaway, Coca-Cola, Johnson & Johnson, Microsoft, and Toyota have been on the list since Fortune began the survey 25 years ago. While all of these companies are successful, they also work to maintain public trust and loyalty.
Public approval of a company has grown more important over the last year, especially as new studies show that people tend to trust businesses more than the government.
The recent Edelman Trust Barometer found once again that in the countries surveyed, businesses are more trusted than governments, media, and non-governmental organizations.
The global survey polled 28 countries—with nearly 32,000 people participating.
Around 62% of respondents said they trust businesses, 59% trust non-governmental organizations, 51% trust their government, and only 50% trust the media.
In the U.S., the disparity between business and government was particularly noticeable—with 55% trusting business and only 42% trusting the government.
As trust in businesses has grown, so has the public’s expectation of those businesses. The same survey found that respondents feel businesses should be doing more to solve climate issues and economic inequality.
Here are the top ten all-star-ranked businesses. . .
- Berkshire Hathaway
- JP Morgan Chase
- Walt Disney
- Costco Wholesale
- Alphabet (Google)
- American Express