Big Tech's huge power - with total market capitalization of $7.5 trillion
Big Tech's huge power: the 5 biggest technology companies on the planet have a value greater than the GDP of the third world economy - Japan.
The total market capitalization of these companies has grown by 52% in just one year.
$7.5 trillion is the total market capitalization of the five Big Tech companies
According to an analysis by the Wall Street Journal, $7.5 trillion is the total market capitalization of the five Big Tech companies - Alphabet, Amazon, Apple, Microsoft and Facebook - by the end of 2020.
By the end of 2019, the total market capitalization of these companies was $4.9 trillion, meaning that this number had grown by 52% in value in a year. (US nominal GDP by 2020 is about $21 trillion. Japan, the third largest economy, has a GDP of about 5 trillion USD.)
The Big Tech boom is not necessarily driven by stock market excitement. All five companies' revenues surged during the pandemic, with Amazon's 44% growth last year being its highest. Companies have also expanded their workforce and real estate during a period of rising unemployment and major volatility in the commercial real estate sector. It is a reminder that technology companies are not merely unaffected by the economic slowdown caused by the pandemic, but have thrived in that time.
From Domino's to Roomba to Zoom have all won the pandemic decisively, and so has Big Tech.
Today is the world of Big Tech. We live in that world.
Big Tech\'s huge power - with total market capitalization of $7.5 trillion
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