World’s biggest firms now more valuable than before 2008 crisis

 
Marion Dakers
THE BIGGEST 100 companies in the world are collectively even bigger than they were before the financial crisis, though the firms making up the group have changed significantly, figures out today show.

The value of the 100 largest firms reached $13.6 trillion in the last year, surpassing a previous peak of $13.5 trillion in 2008, just as the credit crunch marked the start of an economic and corporate rout, said PwC.

Around a third of the companies making up the list in 2008 have since dropped out of the rankings, with firms in energy, mining and telecoms among the biggest fallers.

Meanwhile Apple, the world’s most valuable firm by market capitalisation, has climbed 40 places over five years, and is one of seven technology or telecoms firms in the top 20.

America has consolidated its place as the home of the world’s largest corporates, with 43 out of 100 firms based there, up from 35 in 2008.

Britain’s nine companies on PwC’s list have lost a combined $178bn from their market cap since 2008.