The Consumer Decides

On 4 April Microsoft turned 50 years old. Amazon is just over 30, Meta is 21 and the iPhone is just 18. Will they last as long as Microsoft?

Today only 30 companies in the UK’s 100 largest companies by market capitalisation listed on the London Stock Exchange were in the top 100 in 2000. The situation is similar for the S&P 500, which lists the largest US companies based on market cap, profitability, and liquidity, with only 80-100 companies remaining from 2000. However, it is interesting to note that Microsoft has remained among the top ten largest companies in the S&P 500 from 2000 to 2025.

Compare those figures with the currency industry. Monnaie de Paris lays claim to be the oldest mint, founded in AD 864. The Royal Mint, founded in 886, is a relative newcomer.

Putting China’s paper money to one side, banknote papermakers and printers are rather newer, evolving out of general paper making and printing. The papermaker Fabriano was founded in 1264, Tumba in 1760 (now part of Crane Currency) and Crane itself in 1775. The printer Orell Füssli was founded in 1519, De La Rue in 1813, Goznak in 1818, Oberthur in 1842, G+D in 1852 and Canadian Bank Note in 1897.