The US now boasts nearly half of the world's 100 most valuable companies, a study by PwC has found. It has 47 companies in the top 100 compared with 42 five years ago, and 33 in 2008.
The research, conducted by PwC's IPOs Centre, found that between 2009 and 2014, the total market capitalisation of the world's top 100 companies ballooned by more than six trillion dollars, an average increase of $60bn.
During the past five years, the total market cap of those surveyed grew 79% from $8.4 trillion to $15 trillion, while the threshold to enter the top 100 now stands at $81bn – more than 50% higher than it was in 2009.
Eurozone companies in the index held their position with 18 companies. But the UK now has eight companies in the top 100 compared with nine in 2009, and 10 in 2008.
The biggest fallers were the BRIC countries, with companies from China and Hong Kong falling from 11 to eight and the other BRIC nations falling from six to three.
This reflects current investor sentiment towards those markets and the fact that these companies have still to emerge beyond their domestic markets with a global presence, PwC said.
Overall, 32 companies have dropped out since 2009 – 28 through falls in value, and four by acquisition, merger or separation. Of the 32 that have joined the index, 29 were through growth, while three were due to an initial public offering or spin-off taking place. Apple remains the world’s most valuable company, with a market capitalisation of $469bn.
Commenting on the findings, Clifford Tompsett, capital markets partner at PwC, said: “What is truly remarkable is that the US has underlined its domination of the ranking – now almost half the top 100 global companies are American. Other companies in other regions will have their work cut out to compete with the US giants.”
Sally Percy is editor of The Treasurer