  The structure of the control network of transnational corporations affects
global market competition and financial stability. So far, only small national
samples were studied and there was no appropriate methodology to assess control
globally. We present the first investigation of the architecture of the
international ownership network, along with the computation of the control held
by each global player. We find that transnational corporations form a giant
bow-tie structure and that a large portion of control flows to a small
tightly-knit core of financial institutions. This core can be seen as an
economic "super-entity" that raises new important issues both for researchers
and policy makers.
