Monaco leads world in bn-USD firms per capita

Monaco tops the global ranking for bn-USD companies per capita, according to a new report from BestBrokers, highlighting how capital, corporate scale, and innovation often concentrate in small or highly developed economies. The report analyzed over 5.5k listed companies worldwide with a market cap of at least USD 1 bn, using data from CompaniesMarketCap.

It’s all about corporate density: While the US hosts the largest number of these firms (approximately 1.9k), the report’s per capita lens shifts focus to corporate concentration rather than sheer volume. The US ranks 16th with 5.5 bn-USD companies per mn residents, while other major economies rank even lower: Japan (3.2), the U.K. (3.2), Germany (1.7), Brazil (0.3), India (0.2), and China (0.15).

Monaco has just three such firms, all in maritime transport, but its small population of under 40k gives it the highest corporate density: 77 bn-USD companies per mn residents. Luxembourg follows with 31.6, while Iceland ranks third with 18.1.These countries are usually popular choices for talent, and good places for innovation and economic growth.

Several Gulf and Asian economies appear high on the list, including Singapore (8.8), Israel (8.6), Qatar (8.4), and the UAE (5.8), which ties with Canada and edges out the US. Other high-income economies featuring prominently include Switzerland (13.8), and Sweden (10.5), reflecting their capacity to support large-cap firms, while Australia trails slightly at 5.4. Investment-oriented states dominate not only in per capita terms but also in corporate density per sq km, with Monaco, Singapore, Bahrain, and Luxembourg at the helm.

Meanwhile, in Switzerland, Saudi Arabia, Taiwan, and the US, the combined market capitalization of bn-USD firms exceeds 200% of GDP — a level that, according to the report, reflects deep financialization and outsized dependence on asset growth.

When big money becomes a big risk: The report warns that in highly financialized economies, market activity may outpace real economic growth, creating structural imbalances. Some economists link such imbalances to financial crises, such as the 2007-08 crash. When a handful of large corporations dominate national output, employment, and valuations, economies may become more vulnerable to asset price volatility, sector-specific shocks, and broader financial disruptions.

MARKETS THIS MORNING-

Asian markets are in the red, tracking declines on Wall Street yesterday following US President Donald Trump‘s decision to follow through on tariffs on automakers, with Japan’s Nikkei leading losses. Wall Street futures point to another lower open after the S&P 500, Nasdaq, and Dow Jones all suffered losses yesterday.

THE CLOSING BELL: TADAWUL-

The TASI fell 2.3% yesterday on turnover of SAR 6.2 bn. The index is down 0.6% YTD.

In the green: Masar (+14.2%), ACIG (+9.1%), and Nama Chemicals (+9.0%).

In the red: Gulf General (-2.6%), Tawuniya (-1.6%), and Astra Industrial (-1.3%).

THE CLOSING BELL: NOMU-

The NomuC rose 1.2% yesterday on turnover of SAR 49.5 mn. The index is down 1.6% YTD.

In the green: Group Five (+11.1%), Alrashid Industrial (+9.0%), and Alhasoob (+8.3%).

In the red: FAD (-18.8%), Aljouf Water (-9.3%), and Dar Almarkabah (-7.4%).

CORPORATE ACTIONS-

Bank Aljazira received the green light from the Capital Market Authority to increase its capital to SAR 12.8 bn from SAR 10.3 bn by issuing one bonus share for every four existing shares, according to a statement. The increase will be funded by transferring SAR 1.3 bn from the bank’s statutory reserve account and an equal amount from its retained earnings account. This will raise the total number of shares by 256k to about 1.3 bn.

YaqeenCapital received the Capital Market Authority’s green light for its capital hike to SAR 255 mn, according to a statement from the authority. The move will be carried out through a rights issue at a rate of 0.7 bonus share for every share held, bringing total shares to 25.5k from 15k. The company will tap SAR 105 mn from its retained earnings for the hike.

Lana Company general assembly approved hiking the company’s capital by 50% to SAR 54 mn through a bonus share issuance, it said in a disclosure to Tadawul. The SAR 18 mn increase will be funded via the company’s retained earnings and statutory reserve accounts, with shareholders receiving one bonus share for every two shares held. The additional capital will go toward shoring up the company’s capital base.

Buruj Cooperative Ins.’ board recommended not distributing dividends for FY 2024 to support the company’s financial position, it said in a disclosure to Tadawul. The move is yet to get the general assembly’s approval.