, have seen their collective market capitalization surge 47% to $79.8 trillion, while their collective revenues have slipped 6% to $39.8 trillion and their profits have fallen 24% to $2.5 trillion.
No surprise that Amazon, whose profits soared 102%, has ascended to No. 10 globally from No. 22 in 2020 and No. 28 in 2019. Similarly, China’s Alibaba is No. 23 this year, up from No. 31 in 2020 and No. 59 in 2019. Meanwhile, revenues at the four major American carriers dove by an average of 63%. Even with vaccinations ramping up and travel demand starting to return, the highest ranked of those airlines, Delta, is just No. 715, down from No. 263 in 2020 and No. 202 in 2019.
Along with stock market prices, initial public offerings have been hot, thrusting new names onto our list. All told, 30 companies joined the 2021 list by way of IPO, compared to just 10 the year before. Chinese personal finance platform Lufax Holding, at No. 500, was the highest ranked company to debut on the Global 2000 via a public offering. M&A activity also brought new names to the list.
The minimum stock market value to be considered for the 2021 list was $8.26 billion, a 57% jump from $5.27 billion a year ago. With assets a part of our ranking formula, two big banks remain on top. Industrial and Commercial Bank of China is No. 1 for the ninth consecutive year, followed by JPMorgan, which moved up a spot to No. 2, as China Construction Bank fell two spots to No. 4. Moving up one spot this year to No.