50 Most Valuable Private Companies in the World

As of February 2026 SpaceX and OpenAI are the world's most valuable private companies. ByteDance, Tether, and big AI labs like Anthropic and xAI follow close behind.

It's busy at the top: rankings are shifting constantly. AI companies (model makers) are raising massive rounds at a pace we've never seen before, causing valuations to leapfrog each other every few months.

• Tech still completely rules the world: just 3 companies out of 50 are non-tech (Cargill, Panama Ports Company, and EG Group)
• ... and AI slowly eats it: nearly 1/4 of companies in the ranking are AI-native
• Heavy 🇺🇸 American domination: 60%+ of world's most valuable private companies come from the US
• 🇨🇳 China follows with ByteDance: 20%+ of the list comes from China, including the infamous TikTok owner ByteDance
• 🇪🇺 Very few private giants originating from Europe, but the biggest neobanking success story is European - 🇬🇧 Revolut

This ranking includes 50 largest non-public companies in the world, as of February 2026. It might include acquired companies that operate in a standalone way. Most valuations are last reported or recently rumoured.

On ZIRP-era valuations: we exclude companies that latest reported valuation would be enough to hit the list (e.g. CloudKitchens), but it is expected that the company is now valued significantly lower.