Which companies are set to hit $1 trillion in value next?

The list of trillion-dollar companies is a small one, with only six companies that are around today who can claim to have reached this milestone. However, according to a recent study by Approve.com, there are several companies who are set to hit $1 trillion valuation in the next few years, and we’ve looked at them in more depth for this week’s Business Leader Top 12.

The list is in chronological order of when the company is expected to hit the $1 trillion mark.

Tencent – 2022

Expected to reach the milestone by 2022, according to the research by Approve.com, the Chinese multinational technology conglomerate Tencent’s current market cap is currently an astonishing $742bn – no wonder they can afford a twin-skyscraper HQ (Tencent Seafront Towers).

The company is famous for a wealth of subsidiaries; these include Tencent QQ, a popular instant messaging platform in China that was launched back in 1999; Tencent Games, a video game publishing platform responsible for Honor of Kings, one of the highest grossing games of all time; PaiPai.com, an online payment system similar to PayPal, is another one of the company’s many subsidiaries.

Tesla – 2022

Tesla factoryThe US American electric vehicle manufacturer founded by Elon Musk is well-known for its wide range of electric vehicles, which accounted for 74% of the US EV Market from 2018-21. One thing that helps their vehicles stand out from competing electric vehicles is their Autopilot feature, which means they can drive themselves with human supervision.

However, Tesla’s sustainable solutions include solar panels and roof tiles, whilst Tesla Energy is one of the largest global suppliers of battery energy storage systems. According to Approve.com, the company’s market cap is $584bn, but the company is set to hit the $1tn mark next year.

Comcast – 2023

US telecoms conglomerate Comcast is the second-largest broadcasting and cable television company in the world by revenue. It’s also the largest pay-TV company, largest cable TV company and largest home internet service provider in the United States.

NBC, DreamWorks Animation and Universal Animation Studios are three of the largest subsidiaries of Comcast, although there are plenty of others, notably Sky, which it has been the parent company of since October 2018.

Despite a modest, and we use that term loosely, market cap of $259bn, Approve.com predicts that Comcast will reach $1tn in valuation by 2023.

Meituan – 2023

With a current market cap of $231bn, you would think Chinese shopping platform Meituan has a long way to go to reach the $1tn mark, but Approve.com predicts that it will reach that total by 2023.

In fairness, once you start to break down the company’s list of services and achievements, that prediction doesn’t seem so farfetched. The company’s range of apps connect consumers to local businesses for food, entertainment and since their acquisition of Mobike in 2018, local transportation too. The company was only founded in 2010, by Wang Xing, which makes it all the more impressive that it’s set to break the $1tn mark so soon.

Kweichow Moutai – 2024

Just in case you hadn’t noticed the emerging trend, the only companies to appear on this list so far are Chinese or American, and Kweichow Moutai is another Chinese business set to break the $1tn barrier, this time in 2024.

The partially publicly traded, partly state-owned beverage company specialises in the production of Maotai baijiu, a distinctive style of baijiu, which is a colourless, distilled Chinese liquor, that originated during the Xing Dynasty, and it is the largest beverage company in the world along with China’s most valuable non-technology.

Netflix – 2024

People in bed watching NetflixUS subscription-based streaming service Netflix is set to top the £1tn mark in 2024, thanks to its extensive library of films and tv shows, 40% of which they produce themselves, and 209 million subscribers, which are likely to grow from now until then.

The company experienced massive growth during the pandemic, potentially because of the uncertainty it caused, which the company’s Co-founder believes can be great for entrepreneurs.

The list of Netflix original programming includes House of Cards, The Crown, Disenchantment and The Dragon Prince, although their extensive selection has a wide variety of dramas, comedies, anime and children’s programming. Their current market cap is an impressive £218bn, making it the largest entertainment/media company by market capitalisation.

Nvidia – 2024

Founded in 1993, US tech company Nvidia designs graphics processing units (GPUs) and system on a chip units (SoCs).

Their GeForce GPUs were first introduced back in 1999, but they are one of only two major competitors in the high-end GPU market – along with AMD’s Radeon – and they are highly dominant in the general-purpose graphics processor unit market – a testament to their intuitive, constantly-evolving designs.

Nvidia’s product family also includes wireless communication, PC processors, and automotive hardware/software, whilst their current market cap is $432bn – set to hit $1tn by 2024, despite ongoing competition concerns with their purchase of Arm.

Alibaba Group – 2025

This Chinese multinational tech company specialising in eCommerce, retail, internet and technology currently has a huge market cap of $587bn, and by 2025, it is predicted that they will top $1tn too.

Their initial public offering (IPO) on the New York Stock exchange raised £25bn, which was the largest IPO in world history at the time, and their diverse list of subsidiaries is one of the reasons why the company has enjoyed so much success.

Not only was it rated the fifth-largest artificial intelligence company in 2020, but it’s also one of the biggest venture capital firms and investment corporations. Recently, they have expanded into the media industry too.

Mastercard – 2025

Mastercard cardMastercard is a name likely to be familiar to most of us in the UK; the US payment processor has been trading since 1966, back when it was known as Interbank. With a current market cap of $363bn, it should top $1tn in 2025.

Prior to becoming a publicly traded company in 2006, it was a cooperative owned by more than 25,000 financial institutions around the world.

The company now has 21,000 employees and several subsidiaries, which have enabled it to have such a large market share: maestro, its debit card subsidiary; cirrus, the interbank network subsidiary; and mondex, the electronic cash subsidiary.

PayPal – 2025

Another company on this list founded by Elon Musk, who sold it to eBay for $1.5bn back in 2002, online payment system PayPal is – you guessed it – another US business on this list.

The company’s current market cap stands at $310bn, meaning it has some way to go to top the $1tn mark, although Approve.com predicts they will reach the milestone by 2025.

Since spinning off from eBay in 2015, PayPal has partnered with Instagram, purchased Swedish payment process iZettle and Honey Science corp., a browser extension that aggregates and automatically applies online coupons on eCommerce websites.

TSMC – 2025

TSMC, which stands for Taiwan Semiconductor Manufacturing Company, is a Taiwanese multinational semiconductor contract manufacturing and design company, and the first on this list that does not hail from the US or China.

The company designs and manufacturers microchips for use in communication devices, radios, tablets, mobile phones, televisions, medical equipment and video games, which they sell to clients all over the world.

With nearly 49,000 employees and a market cap of $558bn, TSMC plays an integral role in the production of electronic devices, which many of us are becoming increasingly reliant on from day-to-day. So, perhaps it is unsurprising that the company is predicted to break the $1tn barrier by 2025.

Visa – 2025

Another US payment processor to make the list, Visa facilitates electronic transfers all around the world. According to the Nilson Report, the company processed 100 billion transactions via its global network, VisaNet, during 2014, worth a total value of $6.8tn.

Despite its worldwide processing capabilities, virtually all Visa transactions are processed through four data centres, which are located in Virginia, Colorado, London and Singapore.

Visa is also the world’s second largest card payment organisation, with a market cap currently standing at $512bn. By 2025, this market cap should also surpass $1tn.