Shell

RANK15

The energy giant Shell is bouncing back from its pandemic-induced losses. Shell reported $20.1 billion in earnings in 2021—a sharp increase from the $20.6 billion loss it recorded in 2020. In late 2021, shareholders approved a string of major changes at the 115-year old giant: They simplified Shell's share structure, moved its tax residence from the Netherlands to the U.K., and dropped "Royal Dutch" from the company's name. Shell capped its strong 2021 by announcing an $8.5 billion share-buyback program in the first half of 2022. In the first quarter of 2022, the firm's profits reached $9.1 billion, its biggest quarterly profit ever, as oil prices skyrocketed after Russia's invasion of Ukraine; those gains helped ease the sting of the $4.2 billion in writeoffs it announced related to its decision to withdraw from operating in Russia.