5 Biggest Corporate Fines in History

1. BP (NYSE:BP)

Topping the list of the 5 biggest corporate fines in history is of course BP. The oil company is among the biggest companies in the entire world, and was responsible for the biggest oil spill in history as well, which is now known as the Deepwater Horizon oil spill. The incident took place over a decade ago in 2010, where 2.9 million barrels were spilled and efforts made to contain the spread of the spill failing. The spill continued for months, and devastated the environment in the region, despite extensive cleanup efforts which took place. Marine life died at record rates and in 2013, it was reported that infant dolphins died six times faster than the normal rate, while many other studies found stunted growth and deformities in marine life as a result of the spill, showcasing just how devastating it was.

BP was blamed for negligence in the ensuing investigations over the oil spill, and ended up paying more than $4.5 billion just for the criminal charges, which is the largest penalty ever for criminal charges in the history of the United States. In July 2016, BP was ordered to pay a historic amount worth $20.8 billion, which as of now, is still the highest corporate fine in history. Overall, as of 2018, penalties, charges and clean up costs had resulted in the company spending at least $65 billion, and yet it is still easily one of the biggest companies in the world by revenue.

See also: 15 biggest public companies in the world heading into 2021 and 15 largest biotech companies in the world

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