What is Fortune Global 500?
The Fortune Global 500, commonly referred to as the Global 500 list, is an annual ranking of the world’s top 500 companies based on sales and revenue. Fortune magazine compiles and publishes the list every year. This article reveals all you should know about the Fortune 500 Global company list, including recent updates.
Methodology
The Global list, until 1989, listed only non-US industrial businesses under the term, “International 500”, but the Fortune 500, on the other hand, contained and currently contains only US companies.
Consequently, companies from the United States were added in 1990 to create a genuinely worldwide list of major industrial businesses rated by sales. The Fortune Global 500 Company list has been in its current format since 1995, including top financial businesses and service providers by revenue.
REVENUES
Excise taxes are not included in the revenue statistics, which include consolidated subsidiaries and reported revenues from ceased activities. The sum of gross interest income and gross noninterest income is referred to as revenue by banks. Revenue, basically includes premium and annuity income, investment income, realized capital gains or losses, and other income for insurance businesses, but does not include deposits.
Distribution Across the Globe
The geographical company distribution of the Fortune Global 500 rankings has changed dramatically since 2001. The number of companies based in North America fell from 215 in 2001 to 143 in 2017 decreasing further to 121 for the whole of the U.S in 2020. Asian-based enterprises raised their contribution from 197 in 2017 to 207 in 2020. The majority of this expansion can be attributed to the quick increase in the number of Chinese Global 500 firms, which increased from 10 in 2001 to 109 in 2017 and then 124 in 2020. Over the same time period, the number of enterprises based in Europe fell from 158 to 143 to 22.
What are the Fortune Global 500 Companies 2023?
Fortune magazine’s yearly feature (issued every July) ranks the world’s largest corporations by revenue. This year’s was, however, delayed; released sometime in August.
For the Global 500 companies in 2023 Walmart topped the list for the eighth year in a row, and for the 16th time since 1995. Mainland China (including Hong Kong) has the most companies on the list once again, with 135, up 11 from last year. With Taiwan included, Greater China now has a total population of 143 million people. And with 122 points, the United States has gained one, while Japan has maintained its position with 53 points. The companies on the list for 2023 are located in 220 cities across 31 nations. There are 23 female CEOs of FORTUNE Global 500 businesses this year, nine more than last year.
According to reports from Fortune.com, the Fortune Global 500 companies generated $31.7 trillion in revenue, accounting for more than a third of global GDP. They also brought in $31.7 trillion in sales (down 5%), $1.6 trillion in profit (down 20%), and employed 69.7 million people around the world.
Furthermore, Apple (No. 6) made $57 billion in earnings in 2021, putting an end to Saudi Aramco’s (No. 14) two-year reign as the FORTUNE Global 500’s most successful firm.
Fortune List Editor, Scott DeCarlo had the following to say concerning the 2023 rankings;
“The pandemic’s drastic alterations will have long-term consequences for firms all throughout the world. The Global 500 used it as a catalyst to show the rest of the world how to adapt, evolve, and reinvent themselves. The Global 500 is both a portrait of a world we’re swiftly leaving behind and a map of the new one that’s emerging.”
Fortune.com
Fortune Global 500 Company List of 2023
While we await the 2023 Fortune Global 500 Company list, here are the top 200 companies from 2022 Take a deep breath, do your analysis and make your predictions in the comment section.
What Is a Global Fortune 500 Company?
The Fortune Global 500 is our annual list of the 500 biggest companies in the world based on their total revenue, while the Fortune 500 only includes companies from the United States.
Which Is Better Fortune 100 or 500?
The top 100 companies on the more important annual Fortune 500 list make up the Fortune 100. Since 1955, the Fortune 500 has ranked companies by how much money they made during their fiscal year.
Is Netflix a Fortune 500 Company?
This year, the video streaming service jumped 53 places to No. 261 on the Fortune 500 list. Its revenue grew by 32.4%, its profits went up, and for the first time, its market cap went over $100 billion.
Is Google a Fortune 500?
Alphabet is the world’s leader in digital ad revenue, thanks mostly to Google’s success and YouTube’s fast growth. In 2020, it became the first company to break into the top 10 of the Fortune 500, with $183 billion in sales and more than $40 billion in profits.
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