Good morning, Peter Vanham here in Geneva, filling in for Alan.
The first-ever Fortune 500 Europe is out today (along with a new Europe homepage), and the ranking busts quite a few myths about the continent. The list of Europe’s largest companies by revenue reads like a kind of throwback to the 20th century, when energy and automotive industries dominated the global economy, and companies were led by men.
Consider first the very largest companies on the list. The top spot is held by British energy giant Shell, with six energy companies and three automotive companies featuring in the top 10. Compare that to the U.S., and the difference is stark: in the U.S.-based Fortune 500, three Big Tech companies—Amazon, Apple, and Alphabet—cracked the top 10. In Europe, the largest pure tech company is SAP...at No. 114, followed by 1990s icons Ericsson (No. 141) and Nokia (No. 147).
