In the world of stock exchanges, no country comes even close to the United States.
Thanks to its deep and liquid capital markets, backed by world-leading venture capital, top universities, and a regulatory system that supports business growth, the United States has become a global powerhouse for billion-dollar companies, helping its stock market to far outvalue the world`s leading economies.
According to data presented by Stocklytics.com, Wall Street giants are now worth a staggering $59.7 trillion, more than the combined GDP of the United States, China, and Germany.
Strong investor appetite, a thriving tech sector, and a business environment that rewards innovation have made the U.S. the world’s most fertile ground for scaling businesses to billion-dollar status, leaving all other countries far behind.
According to the latest MacroMicro data, the market capitalization of U.S. companies surged to a staggering $59.7 trillion last month, more than the combined value of the next twelve countries on the list combined.
The second-ranked China had nearly six times smaller value of listed companies, at around $10 trillion.
Far below, Euronext, Japan, Hong Kong, and India followed with $6.99 trillion, $6.92 trillion, $6.36 trillion, and $5.22 trillion, respectively.
The combined value of American companies becomes even more staggering when compared to the world’s top economies.
Statistics show that U.S. corporate value now stands at twice the nation’s GDP and exceeds the combined GDP of the United States, China, and Germany, the three largest economies in the world.
This staggering valuation aligns with the U.S.’s dominance in the number of billion-dollar companies. As of May 2025, more than 5,500 companies listed on global stock exchanges were valued at over $1 billion, and 1,873 of them, or roughly 35%, were based in the United States. That’s more than the combined total of the next eight economies, Japan, India, Canada, the United Kingdom, China, Australia, Germany, and France, underscoring the scale and depth of the U.S. capital markets. Second-ranked Japan had just 404 of these stock market giants, or four times less than the United States.
Although impressive, the valuation of the U.S. stock market is also a major concern, raising questions about its long-term stability. According to Statista Market Insights survey, the Buffett Indicator, which compares the U.S. stock market capitalization to its GDP, stands at a staggering 183, down slightly from 198 last year but still well into overvalued territory.
This figure is even more striking compared to other regions and the global market. Statista data show the Buffett Index for the global stock market dropped from 121 to 112 year-over-year, signaling moderate overvaluation. Europe and Asia posted far lower ratios of 86 and 94, respectively, showing their markets remain closer to fair value.
