Spain had most of South America, quite a large chunk of Central America, and I think even some of North America. They also had the Philippines, Cuba and some other colonies.

France had at least half of Africa, at one stage had some American states until Napoleon sold them, and that should be about it.

They all wanted money. Rare resources in Europe were common in other areas, which is why they were major money makers. The rare goods could be obtained cheaply from colonies, processed and made into goods, and then sold for a very high profit elsewhere. Also, all the important people, such as the monarchs, would want more power. Power corrupts.