During Covid, The Biggest Global Companies Got $4.5 Trillion Richer

Bloomberg (05/21/2021)
  • The 50 biggest companies’ market value increased by $4.5 trillion in 2020, raising their combined valuations to 28% of global GDP (up from less than 5% in 1990).
  • Big Tech and Chinese companies now dominate the top 50, replacing Big Oil since 1990.
  • Their median tax rate has declined from 35% to 17% while profit margins have soared from 7% to 18% thanks to increasing industry concentration (M&A).
  • Half of the top 50 to start a decade usually fall out by the end.