Largest Private Companies 2026

As of 21 September 2026. The main table ranks 30 privately held, non-state firms by the latest full-year revenue already printed in US dollars. Vitol’s 2025 turnover is $343 billion, first in this verifiable set. Fortune Global 500 2026 uses fiscal years ended on or before 31 March 2026 and requires filings with a government agency; Cargill, Koch, Vitol and Schwarz Group are not on that 500. The US list is a separate Forbes 2025 table. China RMB private revenue: China private firms. Listed plus SOE mix: global companies.

Verifiable private revenue, USD

Figures in USD billions. Hengli Group’s Fortune print $125.085 billion sits just above Koch’s $125 billion. Huawei’s Fortune print is $122.563 billion; the 2025 annual report states CNY 880.9 billion of revenue, CNY 68 billion of profit and CNY 192.3 billion of R&D. Trafigura is employee-owned; its year to 30 September 2025 matches Fortune #25. CMA CGM posted $54.4 billion for FY 2025 on 6 March 2026. Cooperatives and mutual insurers stay off this table.

How this list is ranked

As of 2026-09-21. The main table ranks 30 private firms by published USD revenue. Fortune Global 500 2026: ranking page. Fiscal years ended on or before 31 March 2026; firms must report figures to a government agency. Non-US names are converted at the average FX for each fiscal year. US private names: America's Top Private Companies, method 17 Dec 2025. China RMB private list: China private firms. China 500 including SOEs: China 500. Listed plus SOE mix: global companies. Unicorns: global unicorns. OpenAI is also on the AI 50.

Euro prints

Schwarz Group’s site prints €185.6 billion of FY 2025 revenue, up 5.8%, with Lidl stores at €140.2 billion. This piece does not convert that figure, so Schwarz has no USD rank. Bosch prints €91.0 billion of 2025 sales; the USD rank still uses Fortune.

Forbes 2025 America’s top 20 private companies

Edit line 17 December 2025. Threshold $3 billion, 200 firms. Cargill is US #1 for a fifth year running and for 38 of 40 lists, $154 billion in the fiscal year ending May. Koch is #2 at $125 billion. Publix is $59.7 billion here versus $63.209 billion on Fortune’s global column — different windows. OpenAI debuts at #155 with an estimated $3.7 billion in 2024 revenue; it is also on the AI 50. SpaceX is #39, estimated $13 billion. X fell below the cut. The method note drops mutuals, co-ops and PE-majority owners.

Private fintech: Fintech 50. Unicorn valuations: global unicorns.