The English magazine Fortune has today published the list of the first 500 companies in the world regarding the 2019 year. Among the many companies, many of them American, we find for the first time the Xiaomi brand, which entered the list directly at the 468 position.
Companies are classified based on total revenue for the respective fiscal years. The survey includes companies that are incorporated in the United States and operate in the United States and list financial statements with a government agency but also companies that are part of a government agency but are owned by private, national or foreign companies that do not submit these financial statements.
Xiaomi joins Fortune 500, is among the largest companies in the world
In any case, returning to Xiaomi, once the list was announced, the CFO of the Chinese giant, Zhou Weifa declared “My first job was in one of the most important 500 companies in the world. After so many years, I finally managed to work in one of the Fortune 500 companies.
Zhou went to work on Xiaomi in the 2010. For the past five years he has been responsible for investments in projects such as Xiaomi, Jingdong (famous Chinese store), Alibaba and Didi (Chinese transport company). Before working for Xiaomi and the other companies just mentioned, Zhou graduated from London University of Economics and obtained an MBA (Master in Business Administration) from Harvard Business School.
The Fortune 500 list for the 2019 sees in the first place the American giant Walmart, followed by Sinopec (a Chinese oil and petrochemical integrated group). As for the other companies in the tech world, the first is Apple in eleventh position, then we have Amazon in thirteenth and Samsung Electronics in fifteenth.
Xiaomi is instead the fourth Chinese tech company after Jingdong, Alibaba and Tencent to be added to the list and the seventh in the ranking of "internet" companies.
But the most interesting data for us is perhaps the one that takes into consideration how long it took for the various Chinese companies to enter the top 500. For example, in Jingdong, Alibaba, Tencent and Huawei put 18, 18, 14 and 23 years respectively. While Xiaomi, founded in April of 2010, managed to enter the list after only nine years, which makes it the fastest growing Chinese internet company ever.