Berkshire Hathaway

Warren Buffett’s conglomerate slips two spots on the Global 500 this year, as relatively flat revenue growth (2.4%) puts its total sales behind those of Apple, which also happens to be Berkshire’s largest stock holding. New accounting rules have created wild swings in Berkshire’s bottom line that have little to do with its long-term profitability. In addition, there was one serious dent: The company lost billions on its investment in Kraft Heinz, thanks to the ketchup maker’s massive write-down of its namesake cheese and Oscar Mayer deli meats brands. Meanwhile, Buffett handed over more responsibility to two potential successors, Ajit Jain (who now oversees the insurance business) and Gregory Abel (in charge of the rest of operations).