Quick Look: AT&T at a Glimpse
- An American Multinational Telecommunications Company
- AT&T’s Net Worth: $200 billion
- AT&T’s Annual Sales: $160.55 billion (as recorded in 2012)
- Industry: Telecommunication
- Founder: Alexander Graham Bell
- CEO: Randall L. Stephenson
- Established: 1885
- Country: The United States
- Headquarters: Texas
- Ranking: By market value, it is the 21st largest company in the world, as of May 2013.
AT&T’s Net Worth
AT&T, also known as American Telephone And Telegraph Company, has an estimated net worth of $126.723 billion. Its first version was founded in 1885 by the inventor of telephone, Alexander Graham Bell.
It is the largest provider of mobile and fixed telephones, and the third largest company in Texas. It also offers broadband subscription TV services. As of 2012, its operating income was $12.997 billion and net income was $7.3 billion.
As of May 2013, AT&T is the 13th largest non-oil company and world’s 21st largest company by market value. With more than 107.9 million mobile customers, it is the world’s 21st largest mobile telecom operator.
Randall L. Stephenson is the current chairman and CEO of the company.
Corporate History of AT&T
AT&T was actually a subsidiary of Bell Telephone Company, but in 1899, after acquiring Bell Company for legal reasons, it became the main company. During most of the 20th century, AT&T has majorly proven its monopoly in the United States, being the largest telecom service provider. It was also the world’s largest phone company during that period and was called by the nickname Ma Bell. In 1984, AT&T had to break up its monopoly due to corporate regulations. The break up resulted in the formation of new companies, which were known as Regional Bell Operating Companies.
One of the companies formed by the breakup of AT&T was Southwestern Bell, which acquired several telecommunications and cable companies. The company name was changed to SBC Communications.
In 2005, AT&T was purchased by SBC for $16 billion, and adopted its name and brand. AT&T still subsists as the subsidiary of SBC and today, it is the world’s 14th largest company and 7th largest in the United States.
Political Contributions of AT&T
The company is the 2nd largest contributor towards political campaigns in the USA. Since 1990, it has donated more than $47.7 million to Democratic and Republican. It has also contributed almost $130 million on lobbying in the U.S., during the period of 1998-2010.
In 2005, it was among the 53 companies that contributed $2.5 million in the inaugural ceremony of President George W. Bush.
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