US Tech profits now exceed most country’s GDP

A study by ABC Finance reveals the staggering wealth concentrated in the world’s top companies, particularly those from the US. The combined market cap of the 10 most profitable companies, exceeding $8.8 trillion, would position them as the world’s third richest “country,” surpassing even Japan’s GDP. This highlights the immense financial power wielded by these corporations, with Saudi Aramco alone boasting a market cap larger than Italy, Brazil, Canada, and Russia combined. Apple, a US tech giant, exemplifies this trend. Its market cap of $1.3 trillion mirrors Australia’s entire GDP, despite having a significantly smaller workforce. Even more strikingly, the combined wealth of Apple, Microsoft, and Amazon surpasses the UK’s GDP, showcasing their immense economic influence. While the UK’s top 10 companies hold their own, their collective market cap doesn’t reach the level of the US giants. However, it still surpasses the GDP of several European nations, demonstrating the global reach of major corporations. This vast concentration of wealth raises concerns about economic disparity and the distribution of resources across the globe, with US companies playing a prominent role in this dynamic.

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