Monday 17 August 2020

The most interesting facts about the Fortune Global 500 isn't the profits they're making

The Fortune Global 500 list of companies came out recently.


What I found interesting was not the fact (apparently) that their combined revenues are about 40% of the world's economy, rather that they only employ 69.9 million people i.e. less than 1% of the world's population.

You might get the impression that I'm not at all impressed by corporations. You'd be right. They control the world it seems to me, and most politicians do what the so-called leaders of these behemoths tell them.

Granted there are some purpose-driven leaders amongst the ranks. They are the exception though not the rule. I think the salaries paid to most executives in corporations is immoral, unethical and in no way reflects the value of their contribution to their companies or most importantly society.

I do back up these feelings with my actions. I do not advise or mentor executives in corporations unless there is indisputable evidence they are purpose and not shareholder driven. 

The stock market is nothing more than licensed gambling. It ignores the many people who own and operate private and family owned businesses, and the zillions of SME's who with these private and family companies employ the most people.

Yes I buy things from giants like Amazon and Apple. I would not own shares in them. 

Where do you stand?

Be remarkable.


PS the other interesting things about the Fortune Global 500 list are 1) China has 124 companies listed and the USA 121. A sign of the times perhaps and the rise of one empire and the decline of another. 2) These companies are only represented by 32 countries.

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