Walmart takes the No. 1 spot for eleventh straight year, followed by Amazon.com and Exxon Mobil
NEW YORK, June 5, 2023 /PRNewswire/ -- Today, Fortune announced the 69th Fortune 500TM ranking, its annual list of the largest corporations in the United States, ranked by revenue for the 2022 fiscal year. The revenue threshold for making the Fortune 500 list was $7.2 billion this year, up 13% from a year ago. The complete dataset is available for purchase from Fortune Analytics.
In total, Fortune 500 companies represent two-thirds of the U.S. GDP with $18 trillion in revenues (up 13%), while profits, down 15%, fell for the second time in the past three years. 52 companies on the 2023 Fortune 500 are led by women CEOs—an all-time high, up from 44 last year.
THE TOP TEN COMPANIES ON THE 2023 FORTUNE 500 LIST ARE:
3. Exxon Mobil
5. UnitedHealth Group
6. CVS Health
7. Berkshire Hathaway
There was some jostling atop the list in 2023, but Walmart held the top spot for the eleventh year in a row, generating $5.7 trillion cumulative revenue over that time. Steady at No. 2 for the fourth straight year, Amazon.com saw a 9% jump in revenue, eclipsing the $510 billion mark. At No. 3 with a 45% jump in revenue, Exxon Mobil bumped Apple to No. 4; but with $99.8 billion in profits in 2022, Apple remains the most profitable company on the list for the eighth time in the past nine years. UnitedHealth Group is the highest-ranked healthcare company on the list at No. 5, followed by CVS Health at No. 6. CVS Health CEO Karen Lynch continues to make Fortune 500 history at the helm of the highest-ranked company ever led by a female CEO. Berkshire Hathaway, Alphabet, and McKesson all held steady at Nos. 7, 8, and 9, respectively. Fueled by a 52% jump in annual revenue, Chevron moved back into the top ten for the first time since 2015 for No. 10.
The companies on this year's list are based in 224 different cities spread across 38 states. As the headquarters of 55 Fortune 500 companies, Texas holds onto its spot as home to the most Fortune 500 companies for its second year. California, at No. 2 with 53 companies, bumped New York to No. 3 with 50. New York City, home to 40 companies, is the top-ranked municipality followed by Houston with 22, Atlanta with 15, Chicago with 13, and Dallas with 11. See the complete Fortune 500 List here.
In her foreword to the June/July 2023 issue of Fortune, Editor-in-Chief Alyson Shontell writes, "There are signs of progress—slow, but real—in this year's Fortune 500. Fifty-two women run companies on the list, up from 44 at this time last year, meaning more than 10% of the nation's biggest businesses are run by the 'opposite sex' for the first time ever. […] There are also more Black CEOs running Fortune 500s than ever before—but it's shameful to say that there are still only eight."
Also in the June/July issue of Fortune, on newsstands June 20:
"Companies like CVS and UnitedHealth are now some of the world's biggest businesses. Is that healthy for the rest of us?" by Maria Aspan and Erika Fry
The Fortune mission is to change the world by making business better. We achieve that by providing trusted information, telling great stories, and building world-class communities. We measure performance by rigorous benchmarks. And we hold companies accountable. Our goal is to make Fortune a force for good through its second century and beyond. For more information, visit www.fortune.com.
Alison Klooster, Director of Communications
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