Watch how much money Apple, Google and Facebook are making every SECOND

[Batu69]

Watch in real time how much money Apple, Google and Facebook are making every SECOND

• The top technology firms surpassed oil companies in wealth
• Apple beat ExxonMobile with biggest annual profit in history; $53.4bn 
• Some say wealth accumulation is causing problems in global economy 
• Others feel internet giants should have to pay more taxes on profits 

 

Apple, Alphabet, Microsoft and Facebook are generating more than $2,000 in profit every second, which is $140,000 a minute and 50 percent of it belongs to Apple. The findings come from an interactive graph created by Penny stocks Lab that displays how much profit and revenue internet giants of the world accumulate

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Apple, Alphabet, Microsoft and Facebook generate more than $2,000 in combined profits every second, and $140,000 every minute.

And by far the biggest winner is Apple, taking away 50 per cent of that profit, research shows.

The findings come from an interactive graph created by Penny Stocks Lab that displays how much profit and revenue internet giants of the world accumulate – in real time.

The graph also shows Twitter, Pandora and Yelp are struggling to turn a profit

Every second that passes, the revenue and profit numbers change and the graph specifies how much each firm has made while you have been on the page.

The graphic shows how the four top technology companies have also surpassed their rivals - oil companies.

Apple, being the leader of the group, trumped ExxonMobile last year in annual profits, with 'the biggest annual profit in corporate history', reported The Telegraph.

The firm had record sales for its iPhone last year, which help it generate $53.4 billion in profits and ExxonMobile only finished the year with $16.2 billion.

Twitter did add 4 million new users by its last quarter report and increased revenue by 58 percent, but it still isn't enough to get them out of the whole.

'Twitter is a product that has never fully developed into a sustainable public company due to either poor strategy, poor execution, or that it was never destined to be one,' Stifel Nicolaus, investment banking firm in New York, posted on Twitter.

Some people are starting to raise an eyebrow at the accumulation of wealth in Silicon Valley and how it may be causing problems for the global economy.

Paul Graham, adviser to technology startups, published an essay that defends startups, as they are creating wealth rather than relying on other people's handouts.

Graham's essay argues that by destroying economic inequality it would be damaging to the startup world.

'So when I hear people saying that economic inequality is bad and should be eliminated, I feel rather like a wild animal overhearing a conversation between hunters,' Graham writes.

'But the thing that strikes me most about the conversations I overhear is how confused they are.' 

'They don't even seem clear whether they want to kill me or not.'

Others feel tech companies should have to dish out more taxes on their profits.

For example, Apple has $181.1 billion in offshore accounts, according to a report from Citizens of Tax Justice, which allows them to avoid paying taxes.

In totally Apple would have owed $59 billion to the US government last year.

Citizens for Tax Justice concluded: 'Multinational corporations' use of tax havens allows them to avoid an estimated $90 billion in federal income taxes each year.' 

MARK ZUCKERBERG IS NOW THE FOURTH RICHEST PERSON IN THE WORLD 

Mark Zuckerberg became the fourth-richest person in the world on Tuesday, leap-frogging over Jeff Bezos as Amazon's stocks plummet and Facebook's soar.

The 31-year-old, who is currently on paternity leave, saw his fortune climb to $50 billion once stocks closed, continuing a surprisingly successful start to 2016 for the social network.

Facebook has risen 9.5 per cent in the past month despite a rocky few weeks for US stocks.

It means that Zuckerberg has moved from sixth place to fourth place on the world billionaire list in just one week - all while he is off work to spend time with his newborn daughter Maxima.

Meanwhile, his fellow billionaires are floundering.

Amazon's Bezos, who started January 2016 the fourth-richest worth $59.7 billion, is now worth $49.1 billion, pushing him out of the top five richest list.

He lost $6 billion in just one day on Wednesday. Since the first trading day of the year, the e-marketing firm has slumped a staggering 18 per cent, which is worth $10.6 billion.

Still, he is a significant way up from this time last year, when he was 16th on the list.

Amazon enjoyed an astonishing 2015, virtually doubling Bezos's fortune. By December 31, he had added $30.7billion to his net worth.

Mexico's Carlos Slim, who was ahead of Zuckerberg two weeks ago, has also suffered.

Chief executive of America Móvil, Slim has been rocked by economic woes in Latin America, primarily Brazil pushing his fortune down $3.3 billion.

As ever, Bill Gates remains sitting comfortably in the top spot with a fortune of $78.7 billion.

Spanish Zara owner Amancio Ortega, worth $69.3 billion, is the second-richest person in the world.

Business magnate Warren Buffett is third with $59.6 billion.

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[FrankV]

What can I say.....

I leave with this very familiar statement: "If you can't beat them, join them".