Fortune 500
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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
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, Chrysler, Armour, Gulf Oil, Mobil, and DuPont.[5]
Methodology
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
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
The following is the list of top 20 companies.[9]
| Rank | Company | State | Industry | Revenue in USD |
|---|---|---|---|---|
| 1 | Walmart | Template:Country data Arkansas | General merchandisers | $648.1 billion |
| 2 | Amazon | Template:Country data Washington | Internet services and retailing | $574.8 billion |
| 3 | Apple | Template:Country data California | Computers, office equipment | $383.3 billion |
| 4 | UnitedHealth Group | Template:Country data Minnesota | Health care: insurance and managed care | $371.6 billion |
| 5 | Berkshire Hathaway | Template:Country data Nebraska | Insurance: property and casualty (stock) | $364.5 billion |
| 6 | CVS Health | Template:Country data Rhode Island | Health care: pharmacy and other services | $357.8 billion |
| 7 | ExxonMobil | Template:Country data Texas | Petroleum refining | $344.6 billion |
| 8 | Alphabet Inc. | Template:Country data California | Internet services and retailing | $307.4 billion |
| 9 | McKesson Corporation | Template:Country data Texas | Wholesalers: health care | $276.7 billion |
| 10 | Cencora | Template:Country data Pennsylvania | Wholesalers: health care | $262.2 billion |
| 11 | Costco | Template:Country data Washington | General merchandisers | $242.3 billion |
| 12 | JPMorgan Chase | Template:Country data New York | Commercial banks | $239.4 billion |
| 13 | Microsoft | Template:Country data Washington | Computer software | $211.9 billion |
| 14 | Cardinal Health | Template:Country data Ohio | Wholesalers: health care | $205.0 billion |
| 15 | Chevron Corporation | Template:Country data Texas | Petroleum refining | $200.9 billion |
| 16 | Cigna | Template:Country data Connecticut | Health care: pharmacy and other services | $195.3 billion |
| 17 | Ford Motor Company | Template:Country data Michigan | Motor vehicles & parts | $176.2 billion |
| 18 | Bank of America | Template:Country data North Carolina | Commercial banks | $171.9 billion |
| 19 | General Motors | Template:Country data Michigan | Motor vehicles & parts | $171.8 billion |
| 20 | Elevance Health | Template:Flagcountry | Health care: insurance and managed care | $171.3 billion |
Breakdown by state
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 | Template:Country data California | 57 |
| 2 | Template:Country data New York | 52 |
| Template:Country data Texas | 52 | |
| 4 | Template:Country data Illinois | 32 |
| 5 | Template:Country data Ohio | 27 |
| 6 | Template:Country data Virginia | 24 |
| 7 | Template:Country data Florida | 22 |
| 8 | Template:Country data Pennsylvania | 20 |
| 9 | Template:Flagcountry | 18 |
| 10 | Template:Country data Minnesota | 17 |
| 11 | Template:Country data Massachusetts | 16 |
| Template:Country data Michigan | 16 | |
| 13 | Template:Country data Connecticut | 15 |
| 14 | Template:Country data New Jersey | 14 |
| 15 | Template:Country data North Carolina | 12 |
| Template:Country data Washington | 12 | |
| 17 | Template:Country data Arizona | 10 |
| Template:Country data Tennessee | 10 |
Breakdown by metropolitan area
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 | Template:Country data New York City | 46 |
| 2 | Template:Country data Chicago | 30 |
| 3 | Template:Country data Houston | 23 |
| 4 | Template:Country data Dallas | 20 |
| Template:Country data San Jose, California | 20 | |
| Template:Country data Washington, D.C.Template:Efn | 20 | |
| 7 | Template:Country data Atlanta | 16 |
| 8 | Template:Country data Minneapolis | 15 |
| 9 | Template:Country data Boston | 14 |
| Template:Flagcountry | 14 |
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 women CEOs of Fortune 500 companies
- Forbes Global 2000
- Total Fortune 1000 companies by urban area list
References
External links
- Template: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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