76. The Spawning Ground for Capitalism’s Apex Predators, Adrift

The Spawning Ground for Capitalism’s Apex Predators

America’s innovative spirit and celebration of entrepreneurship have helped it long dominate the rankings of the largest 50 companies as measured by market capitalization. Our share of those companies has grown from 30 to 32 in the past three decades. The most impressive growth in representation, though, has come from China, which went from having 0 members to 8 over the same period. This largely came at the expense of Europe, which lost more representatives in the top 50 than any other region. China has also seen a rapid increase in the number of wealthy individuals. As of 2021, the country had 626 billionaires, more than twice the total of 2020, and nearly as many members of the three-comma club as the U.S., which recorded 724.