The World’s Biggest Companies You Didn’t Know Were Unicorns

We often think of “unicorns” as scrappy, fast-growing startups worth over $1 billion. They’re privately owned, by definition, so naturally, they tend to get some extra attention and accolades for achieving a $1 billion valuation.

But, what happens when a company is worth hundreds of billions but still isn’t publicly traded? What happens when some of the biggest, most successful and most well-known businesses are unicorns? Well, what a lot of people might not realise that this is already our realit, and these privately held giants are redefining what it means to be a unicorn.

Traditionally, companies needed to go public to access enough capital to scale globally. In the past, IPOs were the gateway to funding, liquidity and legitimacy. But that model is changing.

In today’s world of deep-pocketed venture funds, sovereign wealth investors and private capital markets, some of the most valuable companies on Earth are staying private for longer – or indefinitely.

From artificial intelligence to space travel, these companies operate on a scale once thought impossible without the backing of public shareholders. However, they continue to grow, innovate and attract staggering valuations behind closed doors.

So, what does it take to build and sustain a privately owned unicorn worth tens or even hundreds of billions of dollars?

The New Path to Becoming a Unicorn?

Well, the obvious answer is that the best way to become a privately owned billion-dollar giant is to have Elon Musk at the helm. But, if that’s not on the cards, it seems like there may still be other avenues.

Once upon a time, the startup journey followed a predictable path – raise seed money, build a product, find customers and eventually go public. But the new breed of unicorns has rewritten that playbook.

Today’s giants don’t need the stock market to fuel growth. Instead, they rely on private investors willing to back them through massive funding rounds. SpaceX, for instance, has raised billions from private equity, while OpenAI’s partnerships have given it access to computing resources and funding once reserved for public companies.

This shift has created an environment where companies can scale to extraordinary levels without the transparency and scrutiny of a public listing. Staying private gives them more freedom to experiment, pursue long-term goals and weather short-term challenges. It also allows founders and early investors to maintain tighter control – a critical factor for mission-driven organisations operating in volatile markets like AI and space exploration.

In short, the path to becoming a unicorn has evolved. It’s no longer about hitting a valuation milestone – it’s about mastering the art of sustainable growth outside the public eye.

Why Staying Private Can Still Work

Remaining private isn’t just about avoiding quarterly reports. It’s a strategic choice that reflects how innovation, funding and ownership are changing.

Public markets reward predictable earnings, but breakthrough technologies often need patience. For companies like ByteDance or Epic Games, staying private has allowed them to prioritise user growth, creative freedom and long-term product development without worrying about shareholder pressure.

Private capital markets have also matured. Investors like SoftBank’s Vision Fund and major institutional players can now provide the kind of funding once only possible through an IPO. At the same time, private share sales and secondary markets give employees and early backers the liquidity they need, reducing the pressure to list.

The result is a new generation of global powerhouses – privately owned, wildly valuable and fundamentally reshaping industries from entertainment to aerospace.

Some of the World’s Most Successful Privately Owned Companies

So, without further ado, here are some of the world’s largest and most successful companies that are still privately owned.

SpaceX: $400 Billion

SpaceX has revolutionised space travel, rocket engineering and satellite internet. Through reusable rocket technology and its Starlink satellite network, the company has built multiple billion-dollar businesses under one roof.

Its private valuation reflects its unmatched ability to deliver on technically complex, capital-intensive projects that others have failed to commercialise. By staying private, SpaceX retains control of its ambitious goals – from global broadband to Mars colonisation – without being bound by short-term market expectations.

OpenAI: $500 Billion

OpenAI has rapidly become one of the world’s most valuable private companies, fuelled by the explosive growth of generative AI. With products like ChatGPT and partnerships across major tech ecosystems, it’s managed to dominate a frontier that most competitors are still exploring.

Its ability to combine advanced research with commercial adoption has made it a cornerstone of the AI revolution. The future looks promising as OpenAI continues to scale its technology, expand enterprise integration and push towards artificial general intelligence – all while remaining privately held.

ByteDance: $330 Billion

ByteDance, the Chinese tech company behind TikTok, has become a global powerhouse by redefining how content is created and consumed. Its recommendation algorithms and short-form video format changed the digital landscape, attracting billions of users worldwide.

Despite facing regulatory hurdles and global scrutiny, ByteDance continues to innovate in AI-driven media, e-commerce and education. Remaining private has allowed it to move strategically, adapt to government regulation and diversify beyond social media, solidifying its position as one of the world’s most influential tech firms.

Uber: $207 Billion

Before going public, Uber defined what it meant to be a modern unicorn. It revolutionised transportation by connecting drivers and passengers through a sleek app, scaling to more than 70 countries and creating entire new industries like food delivery and micro-mobility.

Uber’s ability to capture market share quickly, operate at scale, and innovate in logistics made it one of the first tech giants to rival traditional infrastructure. Even as a public company, its journey from startup to global powerhouse continues to inspire the next generation of unicorn founders.

Didi Chuxing: $35 Billion

Didi Chuxing is often referred to as China’s answer to Uber, but with a scale and influence that extends far beyond ride-hailing. It commands massive amounts of mobility data and continues to invest in autonomous driving, electric vehicles and smart city technology.

Despite regulatory challenges and a turbulent IPO experience, Didi remains one of the largest private transportation companies in the world. Its long-term potential lies in reshaping urban mobility infrastructure across Asia and beyond.

Epic Games: $29 Billion

Epic Games stands at the intersection of gaming, technology and creative culture. Its flagship product, Fortnite, became a cultural phenomenon, but the company’s deeper value lies in its Unreal Engine – software used to build not just games but film scenes, virtual production and simulation environments.

By remaining private, Epic has maintained independence over its creative direction and revenue models. The company’s future lies in expanding its influence over the metaverse and next-generation game development tools.

AirBnb: $77 Billion 

Airbnb turned the idea of travel on its head by transforming unused homes into global hospitality options. Its platform made “belonging anywhere” more than a slogan – it became a new way to experience the world.

Before its eventual IPO, Airbnb was one of the most valuable private companies in history, proving that marketplaces built on trust and design can scale globally. Its ongoing success lies in expanding into longer stays, travel experiences and new accommodation categories, keeping its growth story strong even as a public company.

WeWork: $20 Billion

WeWork’s journey has been turbulent, but its early success as a unicorn remains significant. It reimagined office spaces as flexible, community-driven hubs for modern professionals. Despite its high-profile struggles and leadership controversies, the company’s initial $20 billion valuation reflected investors’ belief in the future of flexible work.

Today, WeWork’s evolution continues as it adapts to hybrid work trends, repositions its model and seeks a more sustainable path forward.

Stripe: $91.5 Billion

Stripe’s dominance in digital payments has made it one of Silicon Valley’s most admired private companies. By simplifying how businesses handle online transactions, it has become essential infrastructure for the internet economy.

Its success lies in constant innovation – from APIs that make global commerce seamless to expanding financial tools for startups and enterprises alike. The future of Stripe likely involves deeper integration with AI-driven financial systems, but its focus on sustainable, private growth continues to set it apart.