Campaign group Corporate Europe Observatory released a study on Tuesday, August 31, that revealed that Alphabet Inc, Google’s parent company, Facebook Inc, and Microsoft Corp are the three largest lobbying spenders.
The study indicated Google as the top spender with 5.75 million euros, followed by Facebook with 5.5 million, Microsoft with 5.25 million, Apple at 3.5 million, Huawei at 3 million and Amazon with 2.75 million. 612 companies, groups, and associations spent more than 97 million annually for lobbying efforts on digital economy policies.
The study suggested that spending was attributed to big tech’s attempt to curb legislations which curtail the power and influence of these companies. Tech lobbying efforts focus on two key legislations — the Digital Services Act and the Digital Markets Act which safeguards the fundamental rights of digital users and levels out the tech playing for innovation both in the European Single Market and globally.
Reuters reported that the technology sector outspent the pharmaceutical, fossil fuels, finance, and chemical sectors which indicates the digital sectors growing role in society.
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