The Fortune 500 is an annual list compiled and published by Fortune magazine. It ranks 500 of the largest United States corporations by total revenue for their respective fiscal years. The list includes publicly held companies, along with privately held companies for which revenues are publicly available.
This is one of the most widely recognized measures of corporate success in the United States. Being included on the list is considered to be a mark of prestige and financial strength. The companies on the Fortune 500 employ millions of people and generate trillions of dollars in revenue each year. They have a significant impact on the US economy.
The Fortune 500 list is released each year in May. It is based on data from the previous fiscal year. For example, the 2023 Fortune 500 list is from the fiscal year that ended between September 30, 2021 and August 31, 2022.
The Fortune 500 list is a valuable resource for investors, businesses, and policymakers. It provides insights into the largest and most successful companies in the United States.
It was first published in 1955.
The top 10 companies on the 2023 Fortune 500 list are:
- Walmart
- Amazon
- Apple
- Alphabet
- Exxon Mobil
- Berkshire Hathaway
- CVS Health
- UnitedHealth Group
- McKesson
- Home Depot
Companies on this list are watched because they make up an significant amount of the gross domestic product (GDP) of the country.
The CEOs of these companies tend to be the most recognized business people in the world. They appear on broadcast networks and some, like Elon Musk, can take on celebrity status.
Due to their size, they are often subject to government oversight, including regulation. There is also the chance that certain companies become monopolies, necessitating further action from policymakers.