Cargill, which has its headquarters in Minnesota, reported a 63% increase in profits last year to almost $4.93bn – the biggest in its 157-year history. Each of them has an estimated $5.4bn (£4.1bn) fortune – up a fifth so far this year. This list comprises the largest companies currently in the United States by revenue as of 2023, according to the Fortune 500 tally of companies and Forbes. BizVibe has redefined the concept of B2B networking by helping buyers select the right supplier. Our platform is designed to help companies generate leads, shortlist suppliers, request for proposals, and identify global companies. Three more Cargill family members – Alexandra Daitch, Sarah MacMillan and Lucy Stitzer – are also billionaires.
- The family-owned company has a variety of businesses including chemicals, refining, paper products and software.
- DuPont is an American company formed by the merger of Dow Chemical and E.
- Since its founding in 1865 by William W. Cargill, the company has maintained its status as a private company mainly owned by family heirs.
- In 2018, Bayer acquired Monsanto, a leading producer of genetically engineered crops, for $63 billion.
- Thomas’ experience gives him expertise in a variety of areas including investments, retirement, insurance, and financial planning.
In 2003, it split off a portion of its financial operations into Black River Asset Management, a hedge fund with about $10 billion of assets and liabilities. It previously owned two-thirds of the shares of The Mosaic Company (sold off in 2011), one of the world’s leading producers and marketers of concentrated phosphate and potash crop nutrients. Cargill is back on top of Forbes’ annual ranking of America’s largest private companies. The agribusiness firm dropped down to No. 2 last year, only the third time Cargill missed the top spot since Forbes began tracking the country’s private companies in 1985. The Minnesota-based firm’s revenues grew 17% in the year through May 2021 to $134.4 billion, the company reported, boosted by higher prices for agricultural goods. Koch Industries slides into No. 2 this year with estimated revenues of $115 billion for the year through December 2020.
DuPont ranks 7th on this list of the top 10 largest agricultural companies in the world. DuPont is an American company formed by the merger of Dow Chemical and E. Du Pont de Nemours and Company on August 31, 2017, and the subsequent spinoffs of Dow Inc. and Corteva.
With these good ratings, it can continue to raise money at low-interest rates without needing to seek capital through an equity offering. In the early days, the company allowed the family to have total control of Cargill. The year 1960 marked the first time a non-family member became the company’s chief executive officer (CEO). On the other hand, in our edible oil business, we are reducing plastic use. In association with Dow Chemical, we have reformulated our plastic material, making 90% of our plastic packaging recyclable. Also, we are recovering about 70% of used plastics and we’re trying to increase it to as much as possible.
Nutrien is a Canadian fertilizer company based in Saskatoon, Saskatchewan. Nutrien is the largest producer of potash and the third-largest producer of nitrogen fertilizer in the world. Nutrien’s main competitors include https://1investing.in/ other potash, phosphate, and nitrogen producers, such as The Mosaic Company, Yara International ASA, CF Industries Holdings Inc, and K+S AG. Who are the top 10 largest agricultural companies in the world in 2020?
Top 10 Largest Agricultural Companies in the World 2020, Top Agriculture Companies
Cargill faced pressure from the shareholders and charitable trusts that owned stock in the company. The company decided to spin off its 64% ownership of The Mosaic Company—one of the largest fertilizer companies in the world. This move allowed shareholders to trade Cargill stock for Mosaic shares. Since its founding by William W. Cargill, the company has remained a family-owned private company. Cargill had two children—a son, Austen, and a daughter, Edna, who married John MacMillan, one of her father’s business partners.
Russian exports have also been slowed by financial and shipping problems. The war has disrupted Black Sea exports of crucial commodities from a region that had been producing more than a quarter of the world’s wheat exports. They join Cargill’s other great-grandchildren Pauline Keinath and Gwendolyn Sontheim Meyer on the richest 500 list. As World War I continued is cargill a fortune 500 company into 1917, Cargill made record earnings and faced criticisms of war profiteering. Four years later, as a fallout from the financial crash of 1920, Cargill posted its first loss. Cargill was founded in 1865 by William Wallace Cargill when he bought a grain-flat house in Conover, Iowa.[15] A year later William was joined by his brother Sam, forming W.
Current State of the Top Agriculture Companies
The family-owned company has a variety of businesses including chemicals, refining, paper products and software. It’s been run by its billionaire chairman and CEO Charles Koch since 1967. Since its founding in 1865 by William W. Cargill, the company has maintained its status as a private company mainly owned by family heirs. Cargill is one of the largest players in the agricultural, livestock, and processed foods markets. Through a series of acquisitions, Cargill grew from a single grain mill into a company generating more than $134 billion in annual revenue as of 2021.
Tight Family Control
John MacMillan was named general manager of Cargill Elevator Company and moved his family to Minneapolis. William Cargill died in 1909, creating a fiscal crisis for the company. MacMillan worked to resolve the credit issues and to force his brother-in-law William S. Cargill out of the company. The current owners are descended from John MacMillan’s two sons, John H. MacMillan Jr., and Cargill MacMillan Sr., and his youngest brother-in-law, Austen S. Cargill I. Cargill remains a family-owned business, as the descendants of the founder (from the Cargill and MacMillan families) own over 90% of it.[12] In January 2023, Brian Sikes was appointed to serve as president and CEO.
Most Important Private Companies
The UN said the war in Ukraine had “spread shocks through markets for staple grains and vegetable oils”. The price of cereals, vegetable oils and meat have reached all-times highs, the FAO said. The UN this month warned that global food prices had soared to a record high because of Russia’s invasion of Ukraine.
It was formed in April 2020 through the merger of Ultimate Software and Kronos Inc. Other familiar names at the top of the list include candy maker Mars at No. 4, Boston-based investment giant Fidelity at No. 10 and media company Cox Communications at No. 14. The massive size of the company and its continued focus on paying down debt have helped it maintain a good debt rating. Cargill has an A-rating with both Standard & Poor’s (S&P) and Fitch, and an A2 rating from Moody’s.
Syngenta ranks 6th on this list of the top 10 largest agricultural companies in the world in 2020. Syngenta is a global company that produces agrochemicals and seeds and is based in Basel, Switzerland. Syngenta has eight primary product lines which it develops, markets, and sells worldwide; Its five product lines for pesticides are selective herbicides, non-selective herbicides, fungicides, insecticides, and seed care. Three product lines for seed products include corn and soya, other field crops, and vegetables. The company also supplies about 22% of the US domestic meat market, importing more products from Argentina than any other company, and is the largest poultry producer in Thailand.
The first of the crises was the debt left by the death of William W. Cargill. The company issued $2.25 million in Gold Notes, backed by Cargill stock, to pay off its creditors. The Gold Notes were due in 1917, but thanks to record grain prices caused by World War I all debts were paid by 1915. Newly formed Ultimate Kronos Group joins the list at No. 138 with sales of $3.3 billion. The cloud computing company specializes in workforce and human resource management.
But because of its massive size and huge assets, Cargill was able to avert the pressure to go public. In 1993, it started an employee stock plan that allowed owners of stock to cash in on parts of their shares. This kept the pressure of an IPO at bay, with nearly 90% of the company remaining in the hands of the many family shareholders. In 2012 it launched Chakki Fresh Atta in India under the brand name «Sampoorna». Its customers are in the retail, food service sector and beverage industry. Grocery store chain Brookshire Brothers, ranked No. 162, returns to the list after 12 years.
Most popular news on Cargill
CNH Industrial last year generated USD 28.1 billion — making it one of the best agriculture companies in the world. Ranking number 3 on our list of the top 10 largest agricultural companies in the world is Bayer. Bayer is a German multinational pharmaceutical and life sciences company and one of the largest pharmaceutical companies in the world. Bayer is also one of the leading crop science companies in the world with more than 35 research sites and 175 breeding sites globally. In 2018, Bayer acquired Monsanto, a leading producer of genetically engineered crops, for $63 billion. Last year Bayer generated USD 51.18 billion — making it one of the best agriculture companies in the world.
The list excludes large privately held companies such as Cargill and Koch Industries whose financial data is not necessarily available to the public. However, this list does include several government-sponsored enterprises that were created by acts of Congress and later became publicly traded. While you can’t invest in Cargill, you can invest in two of the company’s largest rivals on the open market.
The extended family controls about 87% of the company and is ranked as the 11th richest family in the world, with a collective fortune of about $50bn. In October 2007, Cargill announced the recall of nearly 850,000 frozen beef patties produced at its packing plant in Butler, Wisconsin that were suspected of being contaminated with E. Under his leadership Cargill grew several fold, expanding out of the Midwest by opening its first East coast offices, in New York, in 1923.