Drastic changes in top 20 companies list

Warren Buffett started his presentation to shareholders on Saturday with a list of today’s 20 biggest companies in the world and he asked how many of them would still be on the list 30 years from now. These powerhouses include Apple, Saudi Aramco, Microsoft, Amazon, Alphabet and Facebook, CNBC reports.

The “Oracle of Omaha” reminded the audience that none of the top 20 companies from 1989 were on today’s list. More than 30 years ago, over half of the largest companies globally were Japanese firms, including banks and industrials.

The only U.S. companies on the list were Exxon, GE, Merck, IBM, American Tel & Tel and Philip Morris.

“It tells you that capitalism has worked incredibly well, especially for the capitalists ... The world can change in very, very dramatic ways,” Buffett said, adding that the best way to invest is via index funds.