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Charting the Last 20 Years of Supertall Skyscrapers

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20 years of supertall skyscrapers

Charting the Last 20 Years of Supertall Skyscrapers

At the end of the 20th century, supertall skyscrapers—buildings exceeding 300 meters in height⁠—were still somewhat of a novelty in the world.

Only 24 supertall skyscrapers existed at that time, with half of them located in U.S. cities. That list included iconic structures such as the Empire State Building and Willis Tower, as well as newer landmarks like Atlanta’s Bank of America Plaza.

According to the Council on Tall Buildings and Urban Habitat (CTBUH) database, the following buildings comprised the world’s full roster of supertall skyscrapers in 1999:

Building NameCityHeight (m)Height (ft)Completion
One World Trade CenterNew York City 🇺🇸4171,3681972
Two World Trade CenterNew York City 🇺🇸4151,3621973
Petronas Twin Tower 1Kuala Lumpur 🇲🇾4521,4831998
Petronas Twin Tower 2Kuala Lumpur 🇲🇾4521,4831998
Willis TowerChicago 🇺🇸4421,4511974
Jin Mao TowerShanghai 🇨🇳4211,3801999
CITIC PlazaGuangzhou 🇨🇳3901,2801996
Shun Hing SquareShenzhen 🇨🇳3841,2601996
Empire State BuildingNew York City 🇺🇸3811,2501931
Central PlazaHong Kong 🇭🇰3741,2271992
Bank of China TowerHong Kong 🇭🇰3671,2051990
85 Sky TowerKaohsiung 🇨🇳3481,1401997
Aon CenterChicago 🇺🇸3461,1361973
The CenterHong Kong 🇭🇰3461,1351998
875 North Michigan AvenueChicago 🇺🇸3441,1281969
Burj Al ArabDubai 🇦🇪3211,0531999
Chrysler BuildingNew York City 🇺🇸3191,0461930
Bank of America PlazaAtlanta 🇺🇸3121,0231992
U.S. Bank TowerLos Angeles 🇺🇸3101,0181990
The Franklin - North TowerChicago 🇺🇸3071,0071989
JPMorgan Chase TowerHouston 🇺🇸3051,0021982
Baiyoke Tower IIBangkok 🇹🇭3049971997
Two Prudential PlazaChicago 🇺🇸3039951990
Wells Fargo PlazaHouston 🇺🇸3029921983

With the exception of the original World Trade Center towers in New York, all these iconic structures are still standing. Of course, there is now a much bigger cohort of skyscrapers sharing the skyline with them today.

20 Years of Supertall Skyscraper Construction

In the 21st century, at least one supertall skyscraper has been completed every year. In 2019 alone, the world built more of these incredible structures than the total that existed in 1999.

Here are the 20 tallest skyscrapers completed in the past 20 years:

Building NameCityHeight (m)Height (ft)Completion
Burj KhalifaDubai 🇦🇪8282,7172010
Shanghai TowerShanghai 🇨🇳6322,0732015
Makkah Royal Clock TowerMecca 🇸🇦6011,9722012
Ping An Finance CenterShenzhen 🇨🇳5991,9652017
Lotte World TowerSeoul 🇰🇷5551,8192017
One World Trade CenterNew York City 🇺🇸5411,7762014
Guangzhou CTF Finance CentreGuangzhou 🇨🇳5301,7392016
Tianjin CTF Finance CentreTianjin 🇨🇳5301,7392019
CITIC TowerBeijing 🇨🇳5281,7312018
TAIPEI 101Taipei 🇹🇼5081,6672004
Shanghai World Financial CenterShanghai 🇨🇳4921,6142008
International Commerce CentreHong Kong 🇭🇰4841,5882010
Lakhta CenterSt. Petersburg 🇷🇺4621,5162019
Vincom Landmark 81Ho Chi Minh City 🇻🇳4611,5132018
Changsha IFS Tower T1Changsha 🇨🇳4521,4832018
Suzhou IFSSuzhou 🇨🇳4501,4762019
Zifeng TowerNanjing 🇨🇳4501,4762010
The Exchange 106Kuala Lumpur 🇲🇾4451,4602019
KK100Shenzhen 🇨🇳4421,4492011
Guangzhou International Finance CenterGuangzhou 🇨🇳4391,4392010

With activity that reflects the country’s meteoric economic rise, China is an obvious point of focus in the skyscraper conversation. The world’s most populous nation been on a remarkable building tear in recent years, with activity spread throughout the country. No fewer than 30 Chinese cities added supertall skyscrapers to their skylines in the past two decades.

Vertical construction in the United States has been primarily focused in one of the original skyscraper hubs, New York City. In the long, storied history of skyscraper construction in New York City, it’s interesting to note that 8 of its 10 tallest buildings were built in the past 15 years.

Of course, no conversation about skyscrapers is complete without mentioning Dubai. No city on Earth can match the sheer magnitude of supertall skyscraper construction there⁠—a remarkable feat considering the UAE’s size compared to the other two leaders, China and the United States. Over that past 20 years, Dubai added 23 supertall skyscrapers to its skyline, including four that are taller than the Empire State Building. Remarkably, there are another ten buildings under construction today that surpass the 300 meter mark.

What the Future Holds

The process from conceiving to completing supertall skyscrapers can take many years⁠—especially as these ambitious structures reach higher into the sky. For example, the Ping An Finance Center in Shenzhen was first proposed in 2008, but not completed until 2017.

This multi-year process means that the pipeline of upcoming skyscrapers is very predictable. According to CTBUH, there are currently 132 supertall skyscrapers in various phases of construction around the world right now. That’s more than five times the number of existing supertall structures that existed at the dawn of the new millennium. This includes the Jeddah Tower in Saudi Arabia, which will be the first skyscraper to hit the one kilometer mark – shattering the record height set by the Burj Khalifa.

Over the next 20 years, as economic fortunes shift and architectural innovations advance, it remains to be seen what heights future skyscrapers will reach.

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Misc

Visualized: The Biggest Ponzi Schemes in Modern History

Learn the stories behind some of the world’s biggest Ponzi schemes in this illustrative infographic timeline.

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The Biggest Ponzi Schemes in Modern History

Some things simply sound too good to be true, but when money is involved, our judgement can become clouded.

This is often the case with Ponzi schemes, a type of financial fraud that lures investors by promising abnormally high returns. Money brought in by new members is used to pay the scheme’s founders, as well as its earlier investors.

The scheme is named after Charles Ponzi, an Italian who became infamous in the 1920s for claiming he could double his clients’ money within 90 days. Since then, numerous Ponzi schemes have been orchestrated around the globe.

To help you learn more about these sophisticated crimes, this infographic examines some of the biggest Ponzi schemes in modern history.

Ponzi Schemes in the 20th Century

The 1990s saw a number of large Ponzi schemes worth upwards of $500 million.

CountryDate EndedName of Scheme and FounderValue (USD)
Belgium1991Moneytron, Jean-Pierre Van Rossem$860M
Romania1994Caritas, Ioan Stoica$1B - $5B
Russia1994MMM, Sergei Mavrodi$10B
U.S.1997Great Ministries International, Geral Payne$500M

In many cases, these schemes thrived by taking advantage of the unsuspecting public who often lacked any knowledge of investing. Caritas, for example, was a Ponzi scheme based in Romania that marketed itself as a “self-help game” for the poor.

The scheme was initially very successful, tricking millions of people into making deposits by offering the chance to earn an 800% return after three months. This was not sustainable, and Caritas was eventually unable to distribute further winnings.

Caritas operated for only two years, but its “success” was undeniable. In 1993, it was estimated that a third of the country’s money was circulating through the scheme.

Ponzi Schemes in the 21st Century

The American public has fallen victim to numerous multi-billion dollar Ponzi schemes since the beginning of the 21st century.

CountryDate EndedName of Scheme and FounderValue (USD)
U.S.2003Mutual Benefits Company, Joel Steinger$1B
U.S.2003Petters Group Worldwide, Tom Petters$4B
U.S.2008Madoff Investment Scandal, Bernie Madoff$65B
U.S.2012Stanford Financial Group, Allen Stanford$7B

Many of these schemes have made major headlines, but much less is said about the thousands of everyday Americans that were left in financial ruin.

For victims of the Madoff Investment Scandal, receiving any form of compensation has been a drawn-out process. In 2018, 10 years after the scheme was uncovered, a court-appointed trustee managed to recover $13 billion by liquidating Madoff’s firm and personal assets.

As NPR reported, investors may recover up to 60 to 70 percent of their initial investment only. For victims who had to delay retirement or drastically alter their lifestyles, this compensation likely provides little solace.

Do the Crime, Pay the Time

Running a Ponzi scheme is likely to land you in jail for a long time, at least in the U.S.

In 2009, for example, 71-year-old Bernie Madoff pled guilty to 11 federal felonies and was sentenced to 150 years in prison. That’s 135 years longer than the average U.S. murder conviction.

Outside of the U.S., it’s a much different story. Weaker regulation and enforcement, particularly in developing countries, means a number of schemes are ongoing today.

Sergei Mavrodi, known for running the Russian Ponzi scheme MMM, started a new organization named MMM Global after being released from prison in 2011. Although he died in March 2018, his self-described “social financial network” has established a base in several Southeast Asian and African countries.

If you or someone you know is worried about falling victim to a Ponzi scheme, this checklist from the U.S. Securities and Exchange Commission (SEC) may be a useful resource.

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Markets

The Top 100 Companies of the World: The U.S. vs Everyone Else

Where are the top 100 companies of the world located? We highlight the U.S. share of the top companies by market capitalization .

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Top 100 Companies World vs US Shareable

The Top 100 Companies of the World: U.S. vs Everyone

When it comes to breaking down the top 100 companies of the world, the United States still commands the largest slice of the pie.

Throughout the 20th century and before globalization reached its current peaks, American companies made the country an economic powerhouse and the source of a majority of global market value.

But even as countries like China have made headway with multi-billion dollar companies of their own, and the market’s most important sectors have shifted, the U.S. has managed to stay on top.

How do the top 100 companies of the world stack up? This visualization pulls from PwC’s annual ranking of the world’s largest companies, using market capitalization data from May 2021.

Where are the World’s Largest Companies Located?

The world’s top 100 companies account for a massive $31.7 trillion in market cap, but that wealth is not distributed evenly.

Between companies, there’s a wide range of market caps. For example, the difference between the world’s largest company (Apple) and the 100th largest (Anheuser-Busch) is $1.9 trillion.

And between countries, that divide becomes even more stark. Of the 16 countries with companies making the top 100 ranking, the U.S. accounts for 65% of the total market cap value.

Location# of CompaniesMarket Capitalization (May 2021)
🇺🇸 United States59$20.55T
🇨🇳 China14$4.19T
🇸🇦 Saudi Arabia1$1.92T
🇨🇭 Switzerland3$0.82T
🇳🇱 Netherlands3$0.58T
🇯🇵 Japan3$0.56T
🇫🇷 France2$0.55T
🇩🇪 Germany3$0.46T
🇰🇷 South Korea1$0.43T
🇬🇧 United Kingdom3$0.43T
🇮🇳 India2$0.34T
🇮🇪 Ireland2$0.34T
🇦🇺 Australia1$0.16T
🇩🇰 Denmark1$0.16T
🇨🇦 Canada1$0.13T
🇧🇪 Belgium1$0.13T

Compared to the U.S., other once-prominent markets like Japan, France, and the UK have seen their share of the world’s top 100 companies falter over the years. In fact, all of Europe accounts for just $3.46 trillion or 11% of the total market cap value of the list.

A major reason for the U.S. dominance in market values is a shift in important industries and contributors. Of the world’s top 100 companies, 52% were based in either technology or consumer discretionary, and the current largest players like Apple, Alphabet, Tesla, and Walmart are all American-based.

The Top 100 Companies of the World: Competition From China

The biggest and most impressive competitor to the U.S. is China.

With 14 companies of its own in the world’s top 100, China accounted for $4.19 trillion or 13% of the top 100’s total market cap value. That includes two of the top 10 firms by market cap, Tencent and Alibaba.

 CompanyCountrySectorMarket Cap (May 2021)
#1AppleUnited StatesTechnology$2,051B
#2Saudi AramcoSaudi ArabiaEnergy$1,920B
#3MicrosoftUnited StatesTechnology$1,778B
#4AmazonUnited StatesConsumer Discretionary$1,558B
#5AlphabetUnited StatesTechnology$1,393B
#6FacebookUnited StatesTechnology$839B
#7TencentChinaTechnology$753B
#8TeslaUnited StatesConsumer Discretionary$641B
#9AlibabaChinaConsumer Discretionary$615B
#10Berkshire HathwayUnited StatesFinancials$588B
#11TSMCChinaTechnology$534B
#12VisaUnited StatesIndustrials$468B
#13JPMorgan ChaseUnited StatesFinancials$465B
#14Johnson & JohnsonUnited StatesHealth Care$433B
#15Samsung ElectronicsSouth KoreaTechnology$431B
#16Kweichow MoutaiChinaConsumer Staples$385B
#17WalmartUnited StatesConsumer Discretionary$383B
#18MastercardUnited StatesIndustrials$354B
#19UnitedHealth GroupUnited StatesHealth Care$352B
#20LVMH Moët HennessyFranceConsumer Discretionary$337B
#21Walt Disney CoUnited StatesConsumer Discretionary$335B
#22Bank of AmericaUnited StatesFinancials$334B
#23Procter & GambleUnited StatesConsumer Staples$333B
#24NvidiaUnited StatesTechnology$331B
#25Home DepotUnited StatesConsumer Discretionary$329B
#26Nestle SASwitzerlandConsumer Staples$322B
#27ICBCChinaFinancials$290B
#28Paypal HoldingsUnited StatesIndustrials$284B
#29Roche HoldingsSwitzerlandHealth Care$283B
#30Intel United StatesTechnology$261B
#31ASML Holding NVNetherlandsTechnology$255B
#32Toyota MotorJapanConsumer Discretionary$254B
#33ComcastUnited StatesTelecommunication$248B
#34Verizon CommunicationsUnited StatesTelecommunication$241B
#35Exxon MobilUnited StatesEnergy$236B
#36NetflixUnited StatesConsumer Discretionary$231B
#37AdobeUnited StatesTechnology$228B
#38Coca-Cola Co United StatesConsumer Staples$227B
#39MeituanChinaTechnology$226B
#40Ping AnChinaFinancials$219B
#41Cisco SystemsUnited StatesTelecommunication$218B
#42AT&TUnited StatesFinancials$216B
#43L'OréalFranceConsumer Discretionary$215B
#44China Construction BankChinaFinancials$213B
#45Abbott LabsUnited StatesHealth Care$212B
#46Novartis AGSwitzerlandHealth Care$212B
#47NikeUnited StatesConsumer Discretionary$209B
#48Oracle United StatesTechnology$202B
#49PfizerUnited StatesHealth Care$202B
#50ChevronUnited StatesOil & Gas$202B
#51China Merchants BankChinaFinancials$196B
#52PepsiCoUnited StatesConsumer Staples$195B
#53Salesforce.comUnited StatesTechnology$195B
#54Merck & CoUnited StatesHealth Care$195B
#55AbbVieUnited StatesHealth Care$191B
#56BroadcomUnited StatesTechnology$189B
#57Prosus NVNetherlandsTechnology$181B
#58Reliance IndustriesIndiaEnergy$180B
#59Thermo Fisher ScientificUnited StatesHealth Care$180B
#60Eli Lilly & CoUnited StatesHealth Care$179B
#61Agricultural Bank of ChinaChinaFinancials$178B
#62Softbank GroupJapanTelecommunication$176B
#63Accenture IrelandIndustrials$176B
#64Texas InstrumentsUnited StatesTechnology$174B
#65McDonaldsUnited StatesConsumer Discretionary$167B
#66Volkswagen AGGermanyConsumer Discretionary$165B
#67BHP GroupAustraliaBasic Materials$163B
#68Wells Fargo & CoUnited StatesFinancials$162B
#69Tata Consultancy ServicesIndiaTechnology$161B
#70DanaherUnited StatesHealth Care$160B
#71Novo NordiskDenmarkHealth Care$160B
#72Medtronic IrelandHealth Care$159B
#73Wuliangye YibinChinaConsumer Staples$159B
#74Costco WholesaleUnited StatesConsumer Discretionary$156B
#75T-Mobile USUnited StatesTelecommunication$156B
#76CitigroupUnited StatesFinancials$152B
#77HoneywellUnited StatesIndustrials$151B
#78QualcommUnited StatesTechnology$151B
#79SAP SEGermanyTechnology$151B
#80BoeingUnited StatesIndustrials$149B
#81Royal Dutch Shell NetherlandsOil & Gas$148B
#82NextEra EnergyUnited StatesUtilities$148B
#83United Parcel ServiceUnited StatesIndustrials$148B
#84Union PACUnited StatesIndustrials$148B
#85Unilever United KingdomConsumer Staples$147B
#86AIA ChinaFinancials$147B
#87LindeUnited KingdomBasic Materials$146B
#88AmgenUnited StatesHealth Care$144B
#89Bristol Myers SquibbUnited StatesHealth Care$141B
#90Siemens AGGermanyIndustrials$140B
#91Bank of ChinaChinaFinancials$139B
#92Philip MorrisUnited StatesConsumer Staples$138B
#93Lowe's CompaniesUnited StatesConsumer Discretionary$136B
#94Charter CommunicationsUnited StatesTelecommunication$135B
#95China MobileChinaTelecommunication$134B
#96Sony GroupJapanConsumer Discretionary$132B
#97AstrazenecaUnited KingdomHealth Care$131B
#98Royal Bank of CanadaCanadaFinancials$131B
#99StarbucksUnited StatesConsumer Discretionary$129B
#100Anheuser-BuschBelgiumConsumer Staples$128B

Impressively, China’s rise in market value isn’t limited to well-known tech and consumer companies. The country’s second biggest contributing industry to the top 100 firms was finance, once also the most valuable sector in the U.S. (currently 4th behind tech, consumer discretionary, and health care).

Other notable countries on the list include Saudi Arabia and its state-owned oil and gas giant Saudi Aramco, which is the third largest company in the world. Despite only having one company in the top 100, Saudi Arabia had the third-largest share of the top 100’s total market cap value.

As Europe continues to lose ground year-over-year and the rest of Asia struggles to keep up, the top 100 companies might become increasingly concentrated in just the U.S. and China. The question is, will the imbalance of global market value start to even out, or become even bigger?

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