Top 100 global corporations reach record value, China gains on U.S.
According to PwC’s latest “Global Top 100” corporate rankings, the capital value of the world’s top businesses has grown by almost USD 2.6 trillion this year, a 15% growth compared to last year, with Chinese corporations performing particularly well.
Tencent is now the worldʼs fifth most valuable company, one of two from China in the top ten.
Fifty-four of the Top 100 companies hail from the United States, with Apple topping the charts for the seventh year in a row, despite only coming sixth in terms of absolute growth. Amazon posted the highest absolute capital growth, increasing by USD 278 bln (up 66%) compared to the 2017 ranking.
“This year’s most remarkable result is the powerful growth of the leading Chinese corporations,” said Csaba Polacsek, partner of PwC Hungary, noting the recent trends. “The U.S. corporations have been increasing their lead compared to other regions for years, utilizing their global presence, financial power, and innovation ability. China, now relying on the same conditions, is trying to decrease the U.S. lead. Tencent’s and Alibaba’s rise to the top ten indicates that their effort is successful.”
In growth terms, Amazon is followed by two Chinese companies, Tencent and Alibaba, with growth of USD 224 bln and USD 201 bln, respectively. Tencent achieved fifth place overall, with Alibaba clinching seventh place in the capital value top ten.
Meanwhile, Europe has continued its recovery, with 23 corporations in the Top 100, with a total value of USD 331 bln. However, the continent is still 10% behind its peak market share of 27% in 2009, and the number of corporations in the Top 100 is significantly less than in 2010, when 33 European companies were included on the list.
ADVERTISEMENT
Hungary Inflation Rate at 21.5% in May
Parl't Approves Amendments to Legislation on Judiciary
Industrial Production Declines in April
Landmark Budapest Dept Store to Reopen After HUF 8 bln Renov...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
