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FT Non-Public 150

Who are the biggest companies in the world? For years, this question has been answered by looking at a table of the market capitalisation of listed companies. That approach had one major flaw: it failed to take into account the vast amounts of corporate wealth hidden from equity markets.

The hidden value of global unlisted companies

No longer regarded as the poor relations of their quoted counterparts, the Financial Times Non-Public 150 is the first comprehensive look at the world’s largest unlisted companies, providing a rare, and revealing, glimpse behind the veil of private and state ownership.

Record $150bn of de-listings in 2006

The value of companies taken private reached record levels in 2006, with New York and London’s stock markets taking the brunt of de-equitisation.

Saudi Aramco revealed as biggest group

The world’s biggest company is controlled by Saudi Arabia and is not listed on a stock exchange, according to new research by the Financial Times and the management consultancy McKinsey.

Oil & gas industry

More than half of the most valuable 25 privately-held companies in the world are government-owned energy companies from oil and gas-rich countries.

Private equity industry

For many years, analysts and commentators have pointed to Koch Industries, the Kansas-based industrial conglomerate, and Cargill, the agricultural group, as the largest privately-owned US companies.

Media industry

One of the big themes in the media industry this year has been the number of companies that are switching from public ownership to private ownership.