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The market capitalisation of the top 100 companies globally has hit a record high of $42.6tn (£32.1bn) in the year ended 31 March 2025, according to data from PwC.
Overall, the market capitalisation of the global top 100 increased by 7%, equivalent to $2.8tn (£2.11tn) on 31 March 2025.
However, the rate of growth has slowed compared to the previous period which saw market capitalisation increase by 27% equating to $8.3tn (£6.25). The new record total means the top 100 companies have shown consistent growth in the past five years, producing a compound annual growth rate (CAGR) of 15%.
Growth has been driven by the US, which continues to be the largest contributor to the global top 100, ahead of China and Saudi Arabia.
The US maintained its dominance of the Top 100 with a single digit increase in its proportion of total market capitalisation to 73% to $31.1tn (£23.42tn), up 8% compared with the previous period.
The ‘Magnificent Seven’, the group of large US tech companies, saw its market capitalisation grow 10% to reach $15tn (£11.3tn), significantly slower than the 50% growth experienced in the previous period.
China/Hong Kong SAR also saw a significant increase with 51% year-on-year growth to contribute $3.1tn (£2.33tn) to the overall total, with the region gaining three companies in the Top 100.
Europe, however, saw a decline in total valuation of 13.6%, losing two companies in the top 100.
There were 13 new entrants into the top 100 this year, with 87 companies retaining their place on the list. The threshold to enter the Top 100 increased by 8% to $152bn (£114.5bn).
Mike Wisson, UK and Global IPO centre partner, said: “Over the last 12 months the market capitalisation of the Top 100 companies reached another new high, albeit at a slower growth rate than the prior year as investor sentiment towards technology and AI stocks moderated.
“More recently, geopolitical and macroeconomic uncertainties have introduced significant volatility in the share prices of the Top 100. Until there is a greater level of stability and visibly over the direction of key policies, this backdrop is likely to continue to put a brake on future growth rates of the Top 100.”
