Did you know Facebook tops the list of spending the most money on lobbying, leaving all the other Giant Tech Companies behind, including Google, Amazon, Apple and Microsoft

Did you know Facebook tops the list of spending the most money on lobbying, leaving all the other Giant Tech Companies behind, including Google, Amazon, Apple and Microsoft

If we accumulate the total spending of these giant tech companies such as Amazon, Google, and Facebook, it will become half a billion-dollar on their lobbying in the past 10 years. However, Facebook is at the top of the list in spending most of the money than any other giant tech company in the world. Facebook has increased its spending by almost about 18 percent in the year 2020. It is estimated that Facebook has spent more than 19 billion dollars in the year 2020 which is more than any other giant tech company. However, Google spending is almost about 8 percent.

These five giant tech companies including (Amazon, Google, Facebook, Apple, and Microsoft) have spent millions of dollars on lobbying Congress on all the issues to start from the transparency of election to immigration.

According to a report, these five giant tech companies have spent 1.8 percent less amount than the year 2019. Federal agencies and judiciary subcommittee on antitrust have made some investigation regarding the companies’ practices and their monopoly power. While Facebook and Google have faced some new antitrust lawsuits from the state and federal enforcers. Whereas the investigation on Apple and Amazon has not yet finished, this investigation has put some other questions as well regarding the companies’ content control, how they show ads, and how they made the privacy of their users.

Almost 48 attorneys general from the state of the US have file some serious antitrust complaints against Facebook’s spending. Which can put some restrictions on the business of Facebook.

However, Amazon is at the 2nd number is spending the most money on lobbying, it is an estimate that Amazon has spent almost 11 percent more than the previous year, which is round about 18 million dollars. Amazon lobbied on different issues such as postal reforms, health care, and justice in the policies Act in the year 2020.

Google is at 3rd number in spending the most amount on lobbying, however, Google has reduced its spending by 36.2 percent than the previous year, lobbied on the issues such as online advertising rules and regulations, competition law, and student online privacy.

TikTok a Chinese company has also seen spending a huge amount on lobbying on the issues like security concerns, content moderation, and its operating in the US. The Biden administration can take some big actions against this Chinese company which transform their business. The owner of TikTok Byte Dance has said that they have spent on lobbying, almost 2.6 million dollars in the year 2020 which is more than 855 percent than the previous years.

Lyft has also increased its spending keeping in view the spending of the five giant tech companies, this increase is about 135 percent more than 2019. Keeping in view the issues of public firing, the portable benefits, and tax filing issues. Uber has also spent on lobbied the issues of flexible work during the COVID-19 pandemic situation.

H/T: CNBC.

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