Who owns the most satellites in space?

Could you please clarify for me who exactly holds the title of owning the largest number of satellites currently orbiting the Earth? I'm interested in understanding which entity or country has the most extensive satellite fleet, and how their ownership of these spacecraft might impact global communications, Earth observation, and other space-based industries. Additionally, I'm curious about the potential implications of such a dominant presence in space, and what challenges or opportunities it may present for other nations and private companies seeking to expand their own space programs.