New figures released by Global Justice Now reveal how the wealth of corporations compared to countries has increased substantially. Out of 100 top economic entitites, 69 are corporations rather than countries.
“The vast wealth and power of corporations is at the heart of so many of the world’s problems – like inequality and climate change,” said Nick Dearden, director of Global Justice Now.
Adding that “[t]he drive for short-term profits today seems to trump basic human rights for millions of people on the planet. These figures show the problem is getting worse”
The US, China, Germany, Japan, France and the UK make up the top six economic entities followed by Italy, Brazil and Canada.
Top 10 Corporations Worth $285tn (£215tn)
The group also found out that the world’s top 10 corporations have revenue of more than 180 ‘poorest’ countries combined.
The value of the top 10 corporations was $285tn (£215tn), higher than $280tn worth of the bottom 180 countries, including Ireland, Greece, South Africa, Iraq, Vietnam, Indonesia and Israel.