Every day, Axel de Tarlé takes stock of the economy.
We now know the name of the most profitable company in the world, it is Saudi Aramco, the oil company of Saudi Arabia.
Until then, the accounts of Saudi Aramco were not known because the company is nationalized and therefore not required to publish its accounts.
Saudi Aramco needs to make a call to the market. She timidly shed light on her results.
Since Monday, we know his incredible profit of 111 billion dollars. The company sprays all the meters and broke the record of Apple which was 59 billion.
The explanation is simple, it is the first oil company in the world. It produces 10 million barrels of oil a day, five times the consumption of France.
A barrel is easy to produce in the desert of Saudi Arabia.
With his profits galore, Prince Ben Salman plans to list Aramaco Saudi on the stock market.
The company would be valued at 20 times its profits, or 2,000 billion, which would make it the largest company in the world. It would represent twice the value of Amazon (currently the world's largest valued enterprise 900 billion). 2,000 billion, that would represent the weight of the Italian economy.
Read the Echoes article - Saudi Aramco achieves almost three times more profits than Apple
This juggernaut (which releases the biggest profits of the world) is less noted by the rating agencies than the oil majors. Saudi Aramco is rated A +, two notches below Shell or Total.
This is a risk for the company that is at the mercy of a political decision of Ben Salman since it is subject to a "personal" governance in Saudi Arabia. This is not the realm of shareholder democracy.