Did you know that General Electric was actually founded by three founders, and one of them was none other than Thomas Edison? So, no wonder General Electric has made it this far and this big in terms of growth over the last century. And if that seems intriguing enough to you and you wanna know more about General Electric, then come with us as we dive deep into their origin, what big moves were made by the people behind the company, what’s their net worth in 2023, and a whole lot more. Here we go.
|General Electric Origin Country
|Boston, Massachusetts, U.S.
|General Electric CEO
|H. Lawrence Culp Jr.
|General Electric Founders
|Charles A. Coffin, Thomas Edison, J. P. Morgan
|General Electric Net Worth
|$130.53 billion (As of November 2023)
The General Electric Story
General Electric is this big American company, and yeah, its story goes way back to the late 1800s. Now, this is where it gets interesting. The guy behind it all? None other than Thomas Edison, yeah, the famous inventor! He had a bunch of businesses all about electricity. In 1889, something big happened. Edison’s businesses, like Edison Lamp Company and a few others, got together with some help from big names like J.P. Morgan and the Vanderbilt family. They called it Edison General Electric Company. But in 1892, Edison General Electric went for another merger, this time with Thomson-Houston Electric Company. This was a huge deal back then and kind of kicked off a whole new chapter in the electrical world at that time. Fast forward to the 20th century, and GE is still on the move. They had some pretty notable bosses, but Jack Welch? He was something else. He took over in 1981 and stayed till 2001. He changed a lot, focused big time on what the shareholders wanted, and went on a shopping spree, buying a bunch of companies. And believe it or not, he boosted GE’s value from a cool $14 billion to a whopping $600 billion.
General Electric Financials
Well, it was kinda hard to believe when the company announced that it would be splitting into three separate entities. That decision came to action, and fast forward to early 2023, and they’ve already got one part of the plan in the bag because GE HealthCare is now its own thing. GE’s still in the game though, holding onto a minority stake in this new venture. And yeah, GE Vernova is gearing up to make its big debut in 2024. Now, talking numbers, in 2022, they brought in a hefty $76.56 billion in revenue. Their assets? A massive $187.8 billion, with total equity sitting pretty at $36.37 billion. They’re not just playing the field, they’re practically owning it. Sure, like any big player, GE’s had its share of roller coaster moments over the years. But all that hustle and clever moves? Well, that seems to be paying off in these last few years, and we are saying that because as of November 2023, General Electric’s net worth is an eye-popping $130.53 billion.