The Nations with the most Billion-dollar Companies per capita in 2025

For decades, the global economy has been dominated by a handful of nations, whose wealth, natural resources, manufacturing power, and technological advancements have dwarfed the achievements of the rest of the world.

- Paul Hoffman.

The United States is home to many of the largest corporations in terms of both revenue and market capitalisation. Of the five thousand companies with a market cap of at least USD 1 billion, 1,873 are American. Another 1,400 corporations or so are concentrated within China, India, Japan, Canada, and the United Kingdom.

While the number of large-cap companies in a particular country shows the size of the national economy, it also heavily favours those nations with massive populations. Figures alone are not really capable of revealing the current state of the economy, especially in 2025, when inequality seems to be greater than ever and in contrast with recent conclusions by the World Bank that the number of highly unequal countries has dropped from 77 in 2000 to just 52 in 2022. As billionaires are now more and wealthier than ever and corporations generate billions of dollars in revenue for their shareholders, the team at BestBrokers is looking into the billion-dollar companies and where they are located around the world.

Using data from the companies tracking site CompaniesMarketCap, we identified 5,522 publicly traded companies with a market capitalisation of over USD 1 billion.

While the United States is home to the largest number of billion-dollar companies, 1,873 in total as of March 17 2025, Monaco, Luxembourg, and Iceland have the most billion-dollar businesses per capita.

Monaco is home to only three publicly traded companies with a market capitalisation of USD 1 billion or more. Interestingly, they are all maritime transportation companies, providing and operating tankers, as well as dry cargo vessels. Due to Monaco's tiny population of just under 40 thousand, however, its company per capita figure is the highest of all countries we looked at - 77 per 1 million citizens.