Five Technology Firms Control 30% of All Corporate Wealth

Five Technology Firms Control 30% of All Corporate Wealth

The report, released by international rating agency Moody’s Investor Service, revealed that Apple, Microsoft, Google parent company Alphabet, Cisco Systems and Oracle owned about 30 per cent of the $1.7 trillion in cash and cash equivalents controlled by non-financial corporations in 2015.

All of the top 50 wealthiest corporations have at least $6.12 billion in cash. Microchip companies Intel and Qualcomm are ninth and 10th on Moody’s list of the most cash-rich companies, while the remainder of the entries consists of health care focused corporations.

Moody’s found that 72 per cent of all non-financial corporate cash-approximately $1.22 trillion-was kept on foreign soil in 2015.

The agency expects total nonfinancial corporate wealth to grow this year to approximately $1.9 trillion.