February 12, 2020
The well-documented growing disparity in wealth between the haves and have-nots is not merely confined to people; it is also happening at the corporate level.
Consider: Amazon, Apple, Alphabet, Microsoft and Facebook made a combined $55.2 billion in net profits in the most recent quarter. That quintet makes up about 20% of the total U.S. stock market’s value. Meanwhile, the next five most valuable tech companies made roughly $45.5 billion in the last fiscal YEAR.
In Teddy Roosevelt’s day, these companies would almost certainly have been the target of antitrust actions. Today, these companies are called “successful.”