Fortune 500
The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years.[1] The list includes publicly held companies, along with privately held companies for which revenues are publicly available. The concept of the Fortune 500 was created by Edgar P. Smith, a Fortune editor, and the first list was published in 1955.[2][3] The Fortune 500 is more commonly used than its subset Fortune 100 or superset Fortune 1000.[4]
History
[edit | edit source]The Fortune 500, created by Edgar P. Smith, was first published in January 1955.[2] The original top ten companies were General Motors, Jersey Standard, U.S. Steel, General Electric, Esmark, Anderson-Prichard Oil Corporation, Armour, Gulf Oil, Chrysler, Mobil, and DuPont.[5]
Methodology
[edit | edit source]The original Fortune 500 was limited to companies whose revenues were derived from manufacturing, mining, and energy exploration.[6] At the same time, Fortune published companion "Fortune 50" lists of the 50 largest commercial banks (ranked by assets), utilities (ranked by assets), life insurance companies (ranked by assets), retailers (ranked by gross revenues) and transportation companies (ranked by revenues). Fortune magazine changed its methodology in 1994 to include service companies. With the change came 291 new entrants to the famous list including three in the Top 10.[7]
Influence
[edit | edit source]As of 2020, the Fortune 500 companies represent approximately two-thirds of the United States' gross domestic product with approximately $14.2 trillion in revenue, $1.2 trillion in profits, and $20.4 trillion in total market value. These revenue figures also account for approximately 18% of the gross world product. The companies collectively employ a total of 29.2 million people worldwide, or nearly 0.4% of the world's total population.[8]
Overview
[edit | edit source]The following is the list of top 20 companies.[9]
| Rank | Company | State | Industry | Revenue in USD |
|---|---|---|---|---|
| 1 | Walmart | File:Flag of Arkansas.svg Arkansas | General merchandisers | $648.1 billion |
| 2 | Amazon | File:Flag of Washington.svg Washington | Internet services and retailing | $574.8 billion |
| 3 | Apple | File:Flag of California.svg California | Computers, office equipment | $383.3 billion |
| 4 | UnitedHealth Group | File:Flag of Minnesota.svg Minnesota | Health care: insurance and managed care | $371.6 billion |
| 5 | Berkshire Hathaway | File:Flag of Nebraska.svg Nebraska | Insurance: property and casualty (stock) | $364.5 billion |
| 6 | CVS Health | File:Flag of Rhode Island.svg Rhode Island | Health care: pharmacy and other services | $357.8 billion |
| 7 | ExxonMobil | File:Flag of Texas.svg Texas | Petroleum refining | $344.6 billion |
| 8 | Alphabet Inc. | File:Flag of California.svg California | Internet services and retailing | $307.4 billion |
| 9 | McKesson Corporation | File:Flag of Texas.svg Texas | Wholesalers: health care | $276.7 billion |
| 10 | Cencora | File:Flag of Pennsylvania.svg Pennsylvania | Wholesalers: health care | $262.2 billion |
| 11 | Costco | File:Flag of Washington.svg Washington | General merchandisers | $242.3 billion |
| 12 | JPMorgan Chase | File:Flag of New York.svg New York | Commercial banks | $239.4 billion |
| 13 | Microsoft | File:Flag of Washington.svg Washington | Computer software | $211.9 billion |
| 14 | Cardinal Health | File:Flag of Ohio.svg Ohio | Wholesalers: health care | $205.0 billion |
| 15 | Chevron Corporation | File:Flag of Texas.svg Texas | Petroleum refining | $200.9 billion |
| 16 | Cigna | File:Flag of Connecticut.svg Connecticut | Health care: pharmacy and other services | $195.3 billion |
| 17 | Ford Motor Company | File:Flag of Michigan.svg Michigan | Motor vehicles & parts | $176.2 billion |
| 18 | Bank of America | File:Flag of North Carolina.svg North Carolina | Commercial banks | $171.9 billion |
| 19 | General Motors | File:Flag of Michigan.svg Michigan | Motor vehicles & parts | $171.8 billion |
| 20 | Elevance Health | File:Flag of Indiana.svg Indiana | Health care: insurance and managed care | $171.3 billion |
Breakdown by state
[edit | edit source]This is the list of the top 18 states with the most companies within the Fortune 500 as of 2024.[10]
| Rank | State | Companies |
|---|---|---|
| 1 | File:Flag of California.svg California | 57 |
| 2 | File:Flag of New York.svg New York | 52 |
| File:Flag of Texas.svg Texas | 52 | |
| 4 | File:Flag of Illinois.svg Illinois | 32 |
| 5 | File:Flag of Ohio.svg Ohio | 27 |
| 6 | File:Flag of Virginia.svg Virginia | 24 |
| 7 | File:Flag of Florida.svg Florida | 22 |
| 8 | File:Flag of Pennsylvania.svg Pennsylvania | 20 |
| 9 | File:Flag of Georgia (U.S. state).svg Georgia | 18 |
| 10 | File:Flag of Minnesota.svg Minnesota | 17 |
| 11 | File:Flag of Massachusetts.svg Massachusetts | 16 |
| File:Flag of Michigan.svg Michigan | 16 | |
| 13 | File:Flag of Connecticut.svg Connecticut | 15 |
| 14 | File:Flag of New Jersey.svg New Jersey | 14 |
| 15 | File:Flag of North Carolina.svg North Carolina | 12 |
| File:Flag of Washington.svg Washington | 12 | |
| 17 | File:Flag of Arizona.svg Arizona | 10 |
| File:Flag of Tennessee.svg Tennessee | 10 |
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Breakdown by metropolitan area
[edit | edit source]This is the list of the top 10 metropolitan statistical areas with the most companies within the Fortune 500 as of 2024.[11]
| Rank | Metropolitan area | Companies |
|---|---|---|
| 1 | File:Flag of New York City.svg New York City | 46 |
| 2 | File:Flag of Chicago, Illinois.svg Chicago | 30 |
| 3 | File:Flag of Houston, Texas.svg Houston | 23 |
| 4 | File:Flag of Dallas.svg Dallas | 20 |
| File:Flag of San José, California.svg San Jose, California | 20 | |
| File:Flag of Washington, D.C.svg Washington, D.C.[a] | 20 | |
| 7 | File:Flag of Atlanta.svg Atlanta | 16 |
| 8 | File:Flag of Minneapolis.svg Minneapolis | 15 |
| 9 | File:Flag of Boston.svg Boston | 14 |
| File:Flag of San Francisco, California.svg San Francisco | 14 |
- ^ Amazon is co-headquartered between Seattle and Arlington, Virginia, the latter being located in the Washington metropolitan area.
See also
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- 40 Under 40
- Fortune Global 500
- Fortune India 500
- Fortune 1000
- List of largest companies in the United States by revenue
- List of largest companies by revenue
- List of Fortune 500 computer software and information companies
- List of S&P 500 companies
- List of women CEOs of Fortune 500 companies
- Forbes Global 2000
- Total Fortune 1000 companies by urban area list
References
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External links
[edit | edit source]- Official website
- Full list of Fortune 500 companies: 1955–2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022
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