The world is on the verge of a massive financial bubble driven by the growing market share of tech companies.
THE world is on the verge of the largest financial market bubble since the 19th century, driven by the growing market share of technology companies, Russian oil giant Rosneft CEO Igor Sechin said on Saturday.
“Over the past ten years, the share of the ten largest technology companies in the US stock market has tripled, exceeding 40 per cent,” Sechin said at the Saint Petersburg International Economic Forum (SPIEF).
He added that taking into account the expected launch of such giants as SpaceX, OpenAI, and Anthropic, with a combined valuation of several trillion dollars, this figure will approach 50 per cent.
“Clearly, the world is on the verge of the largest financial market bubble in history since the railroad boom in the United States in the 19th century,” the Rosneft CEO pointed out.
SPUTNIK
