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The market capitalisation of the top 100 companies in the world grew to $39.8tn (£32.2tn), a record high, in the year ended 31 March 2024, according to PwC.
In this period, the market cap of these companies increased by 27%, equivalent to $8.4tn (£6.8tn).
This year’s figure means the top 100 market cap has almost doubled in the past five years, producing a compound annual growth rate of 14%.
Growth was driven by the US, which continues to be the largest contributor to the global top 100 ahead of Saudi Arabia and China.
Europe recorded a 14% increase in its market capitalisation to $4.7tn (£3.8tn) while the Rest of the World saw a 12% increase to $3.7tn (£3tn).
China and its regions saw the only decline in valuation, down 5% year-on-year, as the region’s economic headwinds negatively impacted investor sentiment.
Technology had the most representation in the list, accounting for 22 companies, and recorded a 50% increase compared to last year.
There were 13 new entrants in the top 100 with the threshold to break-in up 16% to $141bn (£114.1bn).
Mike Wisson, UK and Global IPO centre partner, said: “Over the last 12 months investor appetite for equities has returned and global equity valuations have experienced a surge in demand with the rapid developments being made in Artificial Intelligence (AI).
“AI is likely to change the way the world works and presents the potential for significant value growth to companies that are able to utilise its potential. The Top 100 have already experienced this effect, rising to an all time high of $40tn by 31 March 2024, now standing at almost double the value of the Top 100 at 31 March 2019.”
