In 2009, U.S. companies made up 45 percent of the Global Top 100 companies, according to PwC and Bloomberg
. A decade later, U.S. firms now comprise 63 percent of organizations on the Global Top 100.
This advancement is partly due to growth in the United States tech sector. The tech sector has the most representation on the Global Top 100. As a testament to the booming industry, Microsoft topped Apple
in terms of market cap for the first time in a decade. Apple was eclipsed by Microsoft for the highest market cap, reaching $905 billion in March 2019, largely fueled by Microsoft’s booming cloud business
The market cap for European companies in the Global Top 100 has shrunk between 2014 and 2019, moving from nearly $4.0 trillion to $3.2 trillion over that time period. This is partly fueled by the actual number of European companies on the Global Top 100. Five years ago, 30 European organizations were in the Global Top 100, falling to just 20 in 2019.
China’s market cap has steadily rose and is now on-par with European countries on the list. Though, year-over-year China’s market cap fell by 5 percent, due to contractions from the U.S.-China trade war.
PwC and Bloomberg report on the ranks of the largest public companies based on their market capitalization in U.S. dollars. The analysis compares values between March of each year and exclude Exchange Traded funds and closed end funds.