What is Fortune 500?
The Fortune 500 is an annual ranking of the list of the top 500 companies in the United States. This ranking is often based on total revenue, including public and private. Fortune Magazine, which is based in New York, compiles and publishes the list. This post will reveal a list of the first 200 companies in 2023 as well as brief updates on the fortune 500.
History of the Fortune 500 Magazine
Fortune Magazine is an American publication that was founded in 1929 by Henry Robinson Luce and originally catered to the upper class. The inaugural edition of the journal was published in February 1930. It has received contributions from some of the world’s greatest writers, editors, illustrators, and photographers, including Ansel Adams, James Agee, Constantin Alajalov, John Atherton, and others, over the years.
Today, Fortune Magazine is a globally recognized business media brand with a transnational monthly magazine, a website, and a number of conference series featuring the world’s most powerful people.
Statistics for the Fortune 500 Companies List in 2023
The following are crucial figures for the Fortune 500 companies in 2023:
- Over $16 trillion in revenue and 1$.8 trillion in profits were generated by the Fortune 500 firms in the previous year. (roughly two-thirds of the U.S. GDP).
- Each company on the list has revenue of at least $5.6 billion.
- Walmart has been the top-ranking Fortune 500 business since 2013, with revenues of over $559 billion in the previous year.
- With a revenue growth rate of over 2000%, Moderna displaced Amazon to become the fastest-growing firm on the Fortune 500 list followed by Change Healthcare.
- With over $94 billion in profits, Apple is the most profitable Fortune 500 business followed by Berkshire Hathaway.
- Walmart has the most employees (2,300,000), followed by Amazon.com (1,608,000). This also implies that Apple hasn’t added to its staff strength since the last report in 2021. Amazon, on the other hand, added over 200,000 staff members against the 1,298,000 stat for 2021.
The Top 3 Fortune 500 Companies list in 2023
#1. Walmart
With more than $570 billion in revenue, the retail Goliath continued to hold the top spot on the Fortune 500 for a record-breaking 10 years. Walmart was able to effectively navigate a difficult 2021 thanks in part to its e-commerce offerings: sales increased by 2.4 percent, and earnings improved by 1.2 percent.
Walmart extended its store-to-fridge delivery service, InHome, and tested driverless delivery trucks with Ford in order to more effectively compete with delivery rivals as diverse as Amazon and DoorDash. Sales from its click-and-collect curbside pickup service increased thrice during the previous two years to $20.4 billion in 2021. The company’s e-commerce strategy is now in the hands of new management after Tom Ward succeeded Casey Carl as chief e-commerce officer in February 2023.
#2. Amazon
The year 2021 was turbulent for the e-commerce behemoth. On July 5, 2021, founder Jeff Bezos formally resigned as president and CEO, and longstanding leader of the Amazon Web Services (AWS) cloud behemoth Andy Jassy assumed control. The business had personnel shortages, a sharp increase in employee turnover, and the strongest unionization drive since its inception.
Despite these challenges, Amazon managed to add a net of 310,000 new employees in 2021. In September of the same year, it also raised the minimum hourly pay from $15 to $18. Amazon’s streaming service planted the seeds for future expansion when it paid $8.5 billion to acquire Hollywood studio MGM. Sales on Amazon Prime Day in 2021 totaled a record-breaking $11.19 billion. Overall, the retail and cloud computing behemoth increased revenue by more than 21% and generated $33.3 billion in profits, an astounding gain of 56.4 percent over 2020.
#3. Apple
Despite experiencing difficulties globally, Apple had a number of noteworthy successes in 2021. Apple was forced to reconsider its supply chain after many of its plants and those of its suppliers were closed in China as a result of COVID. The global chip shortage increased the strain and cost Apple billions of dollars in revenue. Sales increased once the business decided to design more chip components internally. And Apple outperformed every other American corporation on that front, finishing the year with an enormous $94 billion in earnings.
With the Mac portfolio, which generated sales of a record $37.4 billion, Apple also significantly increased its market share in the American personal computing market. When Apple TV+ won the coveted Best Picture Oscar for its coming-of-age film CODA at the Oscars, it created waves in the entertainment industry. Apple continued to be the dominant force in the Trillion Dollar Club. In January 2023, its market value momentarily exceeded $3 trillion; however, by May, it had dropped to just $2.7 trillion, still exceeding that of every other publicly traded corporation. In early 2023, CEO Tim Cook faced significant employee backlash after receiving a sizable $99 million salary package in 2021, and many Apple employees were unhappy with the company’s return-to-office plans.
The Fortune 500 in 2023 Companies are:
- Walmart
- Amazon
- Apple
- CVS Health
- UnitedHealth Group
- Exxon Mobil
- Berkshire Hathaway
- Alphabet
- McKesson
- AmerisourceBergen
- Costco Wholesale
- Cigna
- AT&T
- Microsoft
- Cardinal Health
- Chevron
- Home Depot
- Walgreens Boots Alliance
- Marathon Petroleum
- Anthem
- Kroger
- Ford Motor
- Verizon Communications
- JPMorgan Chase
- General Motors
- Centene
- Meta Platforms
- Comcast
- Phillips 66
- Valero Energy
- Dell Technologies
- Target
- Fannie Mae
- UPS
- Lowe’s
- Bank of America
- Johnson & Johnson
- Archer Daniels Midland
- FedEx
- Humana
- Wells Fargo
- State Farm Insurance
- Pfizer
- Citigroup
- PepsiCo
- Intel
- Procter & Gamble
- General Electric
- IBM
- MetLife
- Prudential Financial
- Albertsons
- Walt Disney
- Energy Transfer
- Lockheed Martin
- Freddie Mac
- Goldman Sachs Group
- Raytheon Technologies
- HP
- Boeing
- Morgan Stanley
- HCA Healthcare
- AbbVie
- Dow
- Tesla
- Allstate
- AIG
- Best Buy
- Charter Communications
- Sysco
- Merck
- New York Life Insurance
- Caterpillar
- Cisco Systems
- TJX
- Publix Super Markets
- ConocoPhillips
- Liberty Mutual Insurance Group
- Progressive
- Nationwide
- Tyson Foods
- Bristol-Myers Squibb
- Nike
- Deere
- American Express
- Abbott Laboratories
- StoneX Group
- Plains GP Holdings
- Enterprise Products Partners.
- TIAA
- Oracle
- Thermo Fisher Scientific
- Coca-Cola
- General Dynamics
- CHS
- USAA
- Northwestern Mutual
- Nucor
- Exelon
- Massachusetts Mutual Life Insurance
- Northrop Grumman
- 3M
- Travelers
- Arrow Electronics
- Honeywell International
- Dollar General
- Qualcomm
- Capital One Financial
- TD Synnex
- Philip Morris International
- World Fuel Services
- Performance Food Group
- Delta Air Lines
- American Airlines Group
- Netflix
- Paramount Global
- US Foods Holding
- Danaher
- Jabil
- Starbucks
- Mondelez International
- Eli Lilly
- Hewlett Packard Enterprise
- D.R. Horton
- Molina Healthcare
- CBRE Group
- Micron Technology
- Broadcom
- Gilead Sciences
- PBF Energy
- Lennar
- United Natural Foods
- NRG Energy
- Nvidia
- Occidental Petroleum
- Salesforce
- Dollar Tree
- KKR
- Kraft Heinz
- Amgen
- AutoNation
- Penske Automotive Group
- PayPal Holdings
- Macy’s
- Duke Energy
- United Airlines Holdings
- Visa
- Rite Aid
- Cummins
- U.S. Bancorp
- Paccar
- McDonald’s
- Southern
- C.H. Robinson Worldwide
- Truist Financial
- Applied Materials
- Freeport-McMoRan
- Lithia Motors
- Blackstone
- Hartford Financial Services Group
- Aflac
- Whirlpool
- Union Pacific
- International Paper
- Altria Group
- CDW
- ManpowerGroup
- PG&E
- Carrier Global
- Baker Hughes
- Cleveland-Cliffs
- United States Steel
- Becton Dickinson
- CarMax
- Sherwin-Williams
- Builders FirstSource
- Marsh & McLennan
- PNC Financial Services Group
- Lumen Technologies
- Avnet
- Tenet Healthcare
- Kimberly-Clark
- Kohl’s
- BlackRock
- Jones Lang LaSalle
- Lear
- Lincoln National
- Charles Schwab
- Ross Stores
- Mastercard
- Genuine Parts
- WestRock
- EOG Resources
- Cognizant Technology Solutions
- Moderna
- Steel Dynamics
- HF Sinclair
- Texas Instruments
- Emerson Electric
- WESCO International
- General Mills
- Tenneco
- Waste Management
- Viatris
- DISH Network
- L3Harris Technologies
- DXC Technology
- Block
- Goodyear Tire & Rubber
- Uber Technologies
- Colgate-Palmolive
- Stanley Black & Decker
- DuPont
- Stryker
- NextEra Energy
- Targa Resources
- Western Digital
- PPG Industries
- American Electric Power
- Gap
- BJ’s Wholesale Club
- Reinsurance Group of America
- Kinder Morgan
- Oneok
- Expeditors Intl. of Washington
- Advanced Micro Devices
- Fiserv
- Estée Lauder
- Bank of New York Mellon
- Laboratory Corp. of America
- Regeneron Pharmaceuticals
- Land O’Lakes
- Cheniere Energy
- Southwest Airlines
- Adobe
- Synchrony Financial
- Corteva
- Fidelity National Financial
- DTE Energy
- Murphy USA
- Halliburton
- Automatic Data Processing
- Edison International
- BorgWarner
- Nordstrom
- Loews
- Guardian Life Ins. Co. of America
- Pioneer Natural Resources
- AutoZone
- Lam Research
- American Family Insurance Group
- Illinois Tool Works
- Parker-Hannifin
- Otis Worldwide
- Omnicom Group
- Principal Financial
- Dominion Energy
- Kellogg
- Fluor
- AECOM
- Reliance Steel & Aluminum
- Jacobs Engineering Group
- Corning
- Farmers Insurance Exchange
- Qurate Retail
- Pacific Life
- PulteGroup
- Fidelity National Information Services
- IQVIA Holdings
- Marriott International
- Berry Global Group
- Ball
- Group 1 Automotive
- Leidos Holdings
- Wayfair
- Consolidated Edison
- Ameriprise Financial
- Xcel Energy
- O’Reilly Automotive
- Global Partners
- Discover Financial Services
- Rocket Companies
- LKQ
- W.W. Grainger
- Quanta Services
- Crown Holdings
- Fox
- Sempra
- Markel
- Carvana
- XPO Logistics
- Baxter International
- Ecolab
- Tractor Supply
- Andersons
- Keurig Dr Pepper
- Universal Health Services
- CSX
- Henry Schein
- Sonic Automotive
- eBay
- Textron
- Jones Financial (Edward Jones)
- Community Health Systems
- Mosaic
- Thor Industries
- Dick’s Sporting Goods
- Newmont
- Devon Energy
- Warner Bros. Discovery
- J.B. Hunt Transport Services
- Alcoa
- Peter Kiewit Sons’
- Aramark
- Vistra
- State Street
- Unum Group
- Alleghany
- Boston Scientific
- Westlake
- Entergy
- International Flavors & Fragrances
- DaVita
- Mutual of Omaha Insurance
- Assurant
- Liberty Media
- Hormel Foods
- Icahn Enterprises
- Republic Services
- Mohawk Industries
- Conagra Brands
- Norfolk Southern
- AES
- AGCO
- Caesars Entertainment
- Equitable Holdings
- Advance Auto Parts
- Biogen
- Auto-Owners Insurance
- Booking Holdings
- Amphenol
- Quest Diagnostics
- FirstEnergy
- DCP Midstream
- Ally Financial
- Delek US Holdings
- Williams
- Newell Brands
- Eastman Chemical
- Air Products & Chemicals
- Thrivent Financial for Lutherans
- Molson Coors Beverage
- Interpublic Group
- Weyerhaeuser
- Altice USA
- Raymond James Financial
- EMCOR Group
- Eversource Energy
- Yum China Holdings
- Asbury Automotive Group
- Owens & Minor
- Public Service Enterprise Group
- United Rentals
- MGM Resorts International
- Ryder System
- Intuit
- Cincinnati Financial
- Erie Insurance Group
- Univar Solutions
- Huntington Ingalls Industries
- W.R. Berkley
- Western & Southern Financial Group
- Insight Enterprises
- News Corp.
- American Tower
- Old Republic International
- Burlington Stores
- Avis Budget Group
- ODP
- VF
- Bed Bath & Beyond
- Seaboard
- First American Financial
- Intercontinental Exchange
- PVH
- Apollo Global Management
- Jefferies Financial Group
- Hershey
- NVR
- Foot Locker
- Dana
- SpartanNash
- Olin
- Chewy
- Jackson Financial
- Activision Blizzard
- Toll Brothers
- Carlyle Group
- Graybar Electric
- Ovintiv
- UFP Industries
- Ulta Beauty
- Constellation Brands
- Expedia Group
- CommScope Holding
- Celanese
- Global Payments
- Owens Corning
- Campbell Soup
- Huntsman
- Franklin Resources
- Avery Dennison
- Masco
- CenterPoint Energy
- Fifth Third Bancorp
- WEC Energy Group
- S&P Global
- FM Global
- Polaris
- Williams-Sonoma
- Autoliv
- Arthur J. Gallagher
- Motorola Solutions
- Zillow Group
- Opendoor Technologies
- J.M. Smucker
- Anywhere Real Estate
- Oshkosh
- MasTec
- GXO Logistics
- APA
- Boise Cascade
- Dover
- Genworth Financial
- Bath & Body Works
- Booz Allen Hamilton Holding
- Coinbase Global
- Zimmer Biomet Holdings
- Westinghouse Air Brake Technologies
- Zoetis
- Packaging Corp. of America
- LPL Financial Holdings
- T. Rowe Price
- Fortune Brands Home & Security
- Casey’s General Stores
- A-Mark Precious Metals
- Hess
- Vertex Pharmaceuticals
- KeyCorp
- Chipotle Mexican Grill
- CMS Energy
- Arconic
- Taylor Morrison Home
- American Financial Group
- UGI
- Science Applications International
- Avantor
- Hanesbrands
- Clorox
- KBR
- TravelCenters of America
- Hertz Global Holdings
- Analog Devices
- Securian Financial Group
- Darden Restaurants
- Graphic Packaging Holding
- NCR
- Brighthouse Financial
- PPL
- Cintas
- Xerox Holdings
- Rockwell Automation
- Citizens Financial Group
- KLA
- Camping World Holdings
- Ingredion
- Veritiv
- Beacon Roofing Supply
- Diamondback Energy
- Victoria’s Secret
- Academy Sports and Outdoors
- Sanmina
- ON Semiconductor
- Commercial Metals
- EnLink Midstream
- Southwestern Energy
- Equinix
- Dillard’s
- Regions Financial
- Yum Brands
- Landstar System
- CF Industries Holdings
- Northern Trust
- Robert Half International
- Compass
- Hasbro
- Roper Technologies
- ARKO
- Frontier Communications
- Ameren
How Often Is the Fortune 500 List Updated?
The Fortune 500 company list is updated annually.
What Is the Most Profitable Company 2021?
Apple was the most profitable company in 2021. In 2023 Apple has also retained its position s the most profitable with over $94 billion followed by Berkshire Hathaway with over $89 billion.
How Many Companies Are There in the World 2023?
According to worldwide statistics, there are an estimated 213 million companies.
How Many Fortune 500 Companies Are There?
Fortune magazine makes and publishes the Fortune 500 list every year. It ranks the 500 biggest companies in the United States by how much money they made in their fiscal years.
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