General Electric

General Electric Company
Company typePublic
ISINUS3696043013 (since 2021)
IndustryConglomerate
PredecessorEdison General Electric Company
Thomson-Houston Electric Company
FoundedApril 15, 1892 (1892-04-15) in Schenectady, New York, US
Founders
HeadquartersBoston, Massachusetts, U.S.
Area served
Worldwide
Key people
H. Lawrence Culp Jr. (chairman & CEO)
Products
RevenueIncrease US$67.954 billion (2023)
Increase US$9.029 billion (2023)
Increase US$9.443 billion (2023)
Total assetsDecrease US$163.05 billion (2023)
Total equityDecrease US$28.579 billion (2023)
Number of employees
125,000 (2023)
Subsidiaries
Websitewww.ge.com Edit this at Wikidata
Footnotes / references
[1]

General Electric Company (GE) is an American multinational conglomerate founded in 1892 and incorporated in the state of New York and headquartered in Boston. The company has several divisions, including aerospace, power, renewable energy, digital industry, additive manufacturing, and venture capital and finance.[2][3][4][5]

In 2020, GE ranked among the Fortune 500 as the 33rd largest firm in the United States by gross revenue.[6] In 2023, the company was ranked 64th in the Forbes Global 2000.[7] In 2011, GE ranked among the Fortune 20 as the 14th most profitable company, but later very severely underperformed the market (by about 75%) as its profitability collapsed.[8][9][10] Two employees of GE – Irving Langmuir (1932) and Ivar Giaever (1973) – have been awarded the Nobel Prize.[11]

On November 9, 2021, the company announced it would divide itself into three public companies. On July 18, 2022, GE unveiled the brand names of the companies it will create through its planned separation: GE Aerospace, GE HealthCare and GE Vernova.[12][13] The new companies will be focused on aerospace, healthcare, and energy (renewable energy, power, and digital). The first spin-off of GE HealthCare was finalized on January 4, 2023;[14] GE continues to hold 10.24% of shares and intends to sell the remaining over time.[15] This will be followed by the spin-off of GE's portfolio of energy businesses which plan to become GE Vernova in 2024.[16] Following these transactions, GE will be an aviation-focused company; GE Aerospace will be the legal successor of the original GE.[17][18][19]

  1. ^ General Electric Company, Form 10-K (Annual Report) (Report). US Securities and Exchange Commission. February 2, 2024. Retrieved February 11, 2024.
  2. ^ Wragg, David W. (1973). A Dictionary of Aviation (first ed.). Osprey. p. 142. ISBN 9780850451634.
  3. ^ Egan, Matt (June 13, 2018). "Inside the dismantling of GE". CNN Money. Archived from the original on June 13, 2018.
  4. ^ "2017 Annual Report SEC Form 10-K Summary of Operating Segments" (PDF). GE. p. 26. Archived from the original (PDF) on April 12, 2018. Retrieved April 12, 2018.
  5. ^ Chesto, Jon (August 2, 2021). "GE stock is now trading at $100 but the company's turnaround efforts still have a ways to go". The Boston Globe. Archived from the original on August 3, 2021. Retrieved July 29, 2022.
  6. ^ "Fortune 500". Fortune. Archived from the original on August 6, 2020. Retrieved August 10, 2020.
  7. ^ "The Global 2000 2023". Forbes. Archived from the original on January 29, 2024. Retrieved February 7, 2024.
  8. ^ Thomas Gryta; Tedd Mann (December 14, 2018). "GE Powered the American Century—Then It Burned Out". The Wall Street Journal. Archived from the original on August 10, 2019. Retrieved August 11, 2019.
  9. ^ "What the Hell Happened at GE?". Fortune. Archived from the original on August 11, 2019. Retrieved August 11, 2019.
  10. ^ "Fortune 20 most profitable companies: IBM". Fortune. 2011. Archived from the original on May 8, 2011. Retrieved December 17, 2010.
  11. ^ "Heritage of Research". General Electric. Archived from the original on August 10, 2016. Retrieved June 1, 2016.
  12. ^ "GE Unveils Brand Names for Three Planned Future Public Companies | GE News". www.ge.com. Archived from the original on September 13, 2022. Retrieved September 4, 2022.
  13. ^ "Commentary: Corporations break themselves up all the time. So why shouldn't regulators break up Big Tech?". Fortune. Archived from the original on September 4, 2022. Retrieved September 4, 2022.
  14. ^ "GE Completes Separation of GE HealthCare | GE News". www.ge.com. Archived from the original on January 8, 2023. Retrieved January 8, 2023.
  15. ^ Francis, Theo (July 25, 2023). "GE Lifts Guidance as Sales and Earnings Rise". The Wall Street Journal. Archived from the original on October 25, 2023. Retrieved October 17, 2023.
  16. ^ "GE Plans to Form Three Public Companies Focused on Growth Sectors of Aviation, Healthcare, and Energy". www.ge.com. GE News. Archived from the original on October 21, 2022. Retrieved October 26, 2022.
  17. ^ "GE 2021 Annual Report" (PDF). www.ge.com. GE. Archived (PDF) from the original on February 11, 2022. Retrieved October 26, 2022.
  18. ^ Pound, Jesse (November 9, 2021). "GE to break up into 3 companies focusing on aviation, health care and energy". CNBC. Archived from the original on November 10, 2021. Retrieved November 9, 2021.
  19. ^ Ganapavaram, Abhijith; Singh, Rajesh Kumar (November 9, 2021). "GE, an industrial conglomerate pioneer, to break up". Reuters. Archived from the original on November 9, 2021. Retrieved November 9, 2021.