Otis Singleton
General Electric (GE) is a technology and financial services company that has been described as the world's biggest company by Forbes magazine and The Guardian newspaper. GE was born out of the race to provide affordable light and electricity to fuel the growth of industrial America. It was incorporated in 1892 as a result of a merger between the Thomson-Houston Company and Thomas Edison's Edison General Electric Company. GE's expansion continued with the establishment of agencies in Europe, Japan, Australia, South Africa, and India, and substantial trade with South America. The company was also a major manufacturer of electrical and engineering products for the British armed forces during World War I and World War II. In August 2000, GE had a market capitalization of $601 billion and was the most valuable company in the world.
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What You'll Learn
In 2000, GE was the world's most valuable company
In August 2000, General Electric (GE) was the world's most valuable company, with a market capitalization of $601 billion. GE's history, however, dates back much further, to the late 19th century, when it was incorporated as the General Electric Company Ltd. During the 1890s and 1900s, the company heavily invested in electric lighting, which proved to be a very profitable sector. This period also saw GE's involvement in military manufacturing during World War I, which helped establish it as a major player in the electrical industry.
GE continued to expand and diversify its business in the following decades. In 1921, it opened a new company headquarters in London, reflecting its growing presence in Europe. The company also expanded internationally, establishing agencies in Japan, Australia, South Africa, and India, and trading with South America. In the 1920s, GE began mass-producing electric home appliances, contributing to the transformation of American homes.
GE's involvement in military manufacturing continued during World War II, and in 1949, it launched the popular J-47 jet engine. The company further expanded through acquisitions and mergers, such as the 1968 merger with English Electric and the 1979 acquisition of W & T Avery. In 1985, GE reacquired the RCA Corporation to gain ownership of the NBC television network, in a deal worth $6.28 billion.
By 2000, GE's diverse business segments included Power, Renewable Energy, Aviation, Healthcare, and Capital. The Power segment offered energy production technologies, while the Renewable Energy segment focused on wind turbine platforms and hydropower solutions. GE's global presence and financial performance led to its recognition as the world's most valuable company that year.
However, in the years following 2000, GE faced challenges, and its stock performance declined. In 2018, GE was removed from the Dow Jones Industrial Average index, marking the end of its more-than-100-year association with the index. Despite these setbacks, GE has continued to invest in innovative technologies and explore new markets, such as "green" technologies and emerging economies like India and China.
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GE's tax returns are the largest filed in the US
General Electric Company (GEC), now known as General Electric (GE), has had a long and storied history as one of the world's most prominent companies. The company played a significant role in the electrical industry, especially during the First and Second World Wars, when it became a major supplier to the military. During the First World War, GEC heavily invested in electric lighting, which proved to be a very profitable sector for the company in the long term. The company also established agencies in Europe, Japan, Australia, South Africa, and India, and conducted substantial trade with South America.
In 1968, GEC merged with English Electric, incorporating several notable companies, including the Marconi Company and Robert Stephenson & Hawthorns. The company continued its expansion with the acquisition of W & T Avery in 1979 and Cincinnati Electronics (CE) in 1981. CE, in particular, was a leader in military radios, infrared technology, and space electronics, further solidifying GEC's position in the defence industry.
In December 1985, GEC made headlines with its merger with the RCA Corporation for $6.28 billion. This merger surpassed the Capital Cities/ABC merger as the largest non-oil company merger in world business history. The primary motivation behind this acquisition was GEC's interest in owning the NBC television network.
By August 2000, General Electric had become the most valuable company in the world, with a market capitalization of $601 billion. However, its performance declined in subsequent years, and by June 2018, its stock was removed from the Dow Jones Industrial Average, replaced by Walgreens Boots Alliance. Despite its recent struggles, GE continues to be a significant player in various industries, including wind power, aviation, healthcare, and energy.
Amidst its complex business endeavours and financial highs and lows, GE has consistently produced substantial tax returns. In fact, GE's tax returns are the largest filed in the United States. The sheer size of its tax filings underscores the company's vast operations and financial activities. For instance, the 2005 tax return was approximately 24,000 pages long in printed form and 237 megabytes in electronic format.
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GE's expansion in the 1920s
During the 1920s, General Electric (GE) continued its expansion and diversification, building on its foundation as one of the first electric companies in the late 19th century. The company's growth in this decade was set against a backdrop of vigorous economic growth in the United States, marking the first truly modern era with significant economic developments.
The 1920s also witnessed GE's foray into mass production of electric home appliances, contributing to a transformation in the appearance and functionality of American homes. Incandescent light bulbs, electric locomotives, X-ray machines, and electric stoves were among the company's earliest products. GE's investment in the lighting sector proved immensely profitable in the long term, and by the 1920s, the company was mass-producing electric appliances for the domestic market.
During this decade, GE's expansion was facilitated by the rapid growth in private and commercial use of electricity, creating a high demand for their products. The company expanded both domestically and internationally, establishing agencies in Europe, Japan, Australia, South Africa, and India, and conducting substantial trade with South America.
The interwar period, particularly the 1920s, presented a unique economic context. While industries like textiles, coal mining, and footwear struggled, sectors such as electrical appliances, automobiles, and construction experienced rapid growth. This dichotomy between growing and declining industries is a common phenomenon across different eras and economic landscapes.
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GE's acquisitions and mergers
General Electric (GE) has a long history of acquisitions and mergers that have contributed to its growth and expansion into various industries. The company was incorporated as the General Electric Company Ltd in 1889 and became a public limited company 11 years later.
During the late 19th and early 20th centuries, GE heavily invested in electric lighting, which proved to be a profitable sector. The outbreak of World War I further transformed GE into a major player in the electrical industry, as it supplied various goods to the military. In the 1920s, GE continued its expansion with the opening of new headquarters and research laboratories in the United Kingdom. During World War II, the company was a significant manufacturer of electrical and engineering products for the British armed forces.
In more recent years, GE has continued its acquisition strategy across various sectors. In 2021, GE acquired Opus One Solutions, a provider of software solutions for utility management. In the healthcare sector, GE Healthcare made headlines in 2025 with its acquisition of a radiopharmaceutical firm, Nihon Medi-Physics Co. (NMP), which generates $183 million in annual revenue. This acquisition strengthened GE's presence in neurology, cardiology, and oncology.
GE's global presence and diverse business interests have made it a significant economic force. As of 2014, the company announced plans to open its global operations center in Cincinnati, Ohio, supporting various shared services. GE has also invested in positioning itself as a green company, with initiatives in wind power, hybrid locomotives, and water reuse solutions. With its numerous acquisitions and diverse business portfolio, GE has left an indelible mark on the global economic landscape.
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GE's green technology investments
In August 2000, General Electric (GE) was the most valuable company in the world, with a market capitalization of $601 billion. Since then, GE has been working to position itself as a "green" company.
In 2005, GE launched its "Ecomagination" initiative, signalling its intention to become a leader in the green technology space. This initiative has helped GE to align itself with the growing trend of environmentally conscious investing. Green technology, or "climate tech," encompasses a wide range of innovations, from renewable energy to sustainable agriculture, materials, and chemistry. It includes technologies that seek to reduce or eliminate the negative impacts of human activity on the natural environment, such as exploring new clean and renewable sources of energy, pioneering new and clean materials, and finding ways to recycle waste and used materials.
GE's investments in wind power have been significant, with the company helping to generate around 30% of the world's electricity through its approximately 55,000 wind turbines. In addition, GE has made strides in the development and adoption of solar power, with products such as solar arrays and photovoltaic cells. The company has also invested in green transportation, contributing to the research and development of electric vehicles.
Overall, GE's green technology investments demonstrate the company's commitment to environmental sustainability and its recognition of the importance of reducing its carbon footprint. By investing in renewable energy sources, sustainable products, and green transportation, GE is playing a key role in the global transition to a low-carbon economy.
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Frequently asked questions
General Electric was named the world's biggest company by Forbes magazine in 2010.
General Electric's expansion can be attributed to its early investment in the electrical industry, supplying goods to the military during World War I, and its subsequent involvement in the development of radar tracking systems and jet engines. The company also expanded globally, establishing agencies in Europe, Japan, Australia, South Africa, and India, and conducting substantial trade with South America.
General Electric was removed from the Dow Jones Industrial Average (DJIA) in 2018, ending its more than 100-year run as a component of the index. In the years leading up to its removal, GE was the worst-performing stock in the Dow, experiencing significant value loss.
