Fortune 500

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The July 24, 2006 issue of Fortune, featuring its Fortune 500 list Fortune g500 cover06.jpg
The July 24, 2006 issue of Fortune, featuring its Fortune 500 list

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]

<i>Fortune</i> (magazine) American multinational business magazine

Fortune is an American multinational business magazine headquartered in New York City, United States. It is published by Fortune Media Group Holdings, owned by Thai businessman Chatchaval Jiaravanon. The publication was founded by Henry Luce in 1929. The magazine competes with Forbes and Bloomberg Businessweek in the national business magazine category and distinguishes itself with long, in-depth feature articles. The magazine regularly publishes ranked lists, including the Fortune 500, a ranking of companies by revenue that it has published annually since 1955.

United States Federal republic in North America

The United States of America (USA), commonly known as the United States or America, is a country comprising 50 states, a federal district, five major self-governing territories, and various possessions. At 3.8 million square miles, the United States is the world's third or fourth largest country by total area and is slightly smaller than the entire continent of Europe's 3.9 million square miles. With a population of over 327 million people, the U.S. is the third most populous country. The capital is Washington, D.C., and the largest city by population is New York City. Forty-eight states and the capital's federal district are contiguous in North America between Canada and Mexico. The State of Alaska is in the northwest corner of North America, bordered by Canada to the east and across the Bering Strait from Russia to the west. The State of Hawaii is an archipelago in the mid-Pacific Ocean. The U.S. territories are scattered about the Pacific Ocean and the Caribbean Sea, stretching across nine official time zones. The extremely diverse geography, climate, and wildlife of the United States make it one of the world's 17 megadiverse countries.

Privately held company business company owned either by non-governmental organizations or by a relatively small number of shareholders or company members, and the companys capital stock is offered, owned and traded or exchanged privately

A privately held company, private company, or close corporation is a business company owned either by non-governmental organizations or by a relatively small number of shareholders or company members which does not offer or trade its company stock (shares) to the general public on the stock market exchanges, but rather the company's stock is offered, owned and traded or exchanged privately or over-the-counter. More ambiguous terms for a privately held company are closely held corporation, unquoted company, and unlisted company.

Contents

History

The Fortune 500 was first published in 1955; created by Edgar P. Smith. [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]

General Motors American automotive manufacturing company

General Motors Company, commonly referred to as General Motors (GM), is an American multinational corporation headquartered in Detroit that designs, manufactures, markets, and distributes vehicles and vehicle parts, and sells financial services, with global headquarters in Detroit's Renaissance Center. It was originally founded by William C. Durant on September 16, 1908 as a holding company. The company is the largest American automobile manufacturer, and one of the world's largest. As of 2018, General Motors is ranked #10 on the Fortune 500 rankings of the largest United States corporations by total revenue.

ExxonMobil American multinational oil and gas corporation

Exxon Mobil Corporation, doing business as ExxonMobil, is an American multinational oil and gas corporation headquartered in Irving, Texas. It is the largest direct descendant of John D. Rockefeller's Standard Oil Company, and was formed on November 30, 1999 by the merger of Exxon and Mobil. ExxonMobil's primary brands are Exxon, Mobil, Esso, and ExxonMobil Chemical.

U.S. Steel US steel-producing company

United States Steel Corporation, more commonly known as U.S. Steel, is an American integrated steel producer headquartered in Pittsburgh, Pennsylvania, with production operations in the United States and Central Europe. As of 2016, the company was the world's 24th-largest steel producer and second-largest domestic producer, trailing only Nucor Corporation.

Methodology

The original Fortune 500 was limited to companies whose revenues were derived from manufacturing, mining, and energy exploration. 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. [6]

Influence

As of 2019, the Fortune 500 companies represent approximately two-thirds of the United States's Gross Domestic Product with approximately $13.7 trillion in revenue, $1.1 trillion in profits, and $22.6 trillion in total market value. These numbers also account for approximately 17% of the gross world product. The companies collectively employ a total of 28.7 million people worldwide, or 0.4% of the Earth's total population. [7]

The gross world product (GWP) is the combined gross national product of all the countries in the world. Because imports and exports balance exactly when considering the whole world, this also equals the total global gross domestic product (GDP). According to the World Bank, the 2013 nominal GWP was approximately US$75.59 trillion. In 2014, according to the CIA's World Factbook, the GWP was around US$78.28 trillion in nominal terms and totaled approximately 107.5 trillion international dollars in terms of purchasing power parity (PPP). The per capita PPP GWP in 2017 was approximately Int$17,300 according to the World Factbook.

World population The total number of living humans on Earth

In demographics, the world population is the total number of humans currently living, and was estimated to have reached 7.7 billion people as of April 2019. It took over 200,000 years of human history for the world's population to reach 1 billion; and only 200 years more to reach 7 billion.

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Locations of companies of the 2015 Fortune 500 [8]

See also

The Fortune Global 500, also known as Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue and the list is compiled and published annually by Fortune magazine.

The Fortune India 500 is a ranking of the top 500 corporations in India compiled on the basis of latest sales and gross revenue figures. The list is published annually by Fortune magazine. Fortune India is Fortune's sixth international edition following local editions for China, Turkey, Korea, Indonesia as well as a special edition for Greece.

Fortune 1000

The Fortune 1000 are the 1,000 largest American companies, ranked by revenues, as compiled by the American business magazine Fortune. It only includes companies which are incorporated or authorized to do business in the United States, and for which revenues are publicly available. The Fortune 500 is the subset of the list that is its 500 largest companies.

Related Research Articles

Industrial and Commercial Bank of China Limited is a Chinese multinational banking company. It is the largest bank in China, and the largest bank in the world by total assets, deposits, loans, number of customers and number of employees. It is one of China's "Big Four" state-owned commercial banks. It was founded as a limited company on January 1, 1984. As of December 2017, it had assets worth US$4.009 trillion. Generally considered the largest financial institution and public company in the world by assets; it is the first Chinese bank to achieve such a feat. It ranks number 1 in The Banker's Top 1000 World Banks ranking, and first on the Forbes Global 2000 list of the world's biggest public companies.

The Forbes Global 2000 is an annual ranking of the top 2,000 public companies in the world by Forbes magazine. The ranking is based on a mix of four metrics: sales, profit, assets and market value. The list has been published since 2003.

Authorities provide differing definitions of the middle-market or mid-market companies. While some authorities look to revenue generated by companies to define the middle market, other sources regard either asset size or number of employees as a better metric for comparing company sizes.

The Economy of Stamford, Connecticut is robust and is considered an anomaly for having a large number of corporate headquarters in a city if its size. In the 1980s and 90s, Stamford had the third highest concentration of Fortune 500 companies in the country, with 18 companies headquartered in the city. The only two cities that had higher concentrations in the nation was New York City and Chicago.

Lithia Motors Lithia Motors, Inc. is a nationwide automotive dealership network headquartered in Medford, Oregon. It is the seventh largest automotive retailer in the United States, In 2015, Lithia Motors broke into the Fortune 500 list at #482.

Lithia Motors, Inc. is an American nationwide automotive retailer headquartered in Medford, Oregon. It is the third largest automotive retailer in the United States. In 2015, Lithia Motors broke into the Fortune 500 list at #482, making it one of only three Oregon-based companies in the Fortune 500. This followed a year that saw the acquisition of the DCH Auto Group, one of the 10 largest dealer groups in the country, with 27 dealerships, before being purchased by Lithia Motors. In 2016, Lithia climbed to #346 and that same year made the Fortune 500 List of Top Ten Companies with the biggest jump in rank on the Fortune 500. As of 2018, Lithia is ranked #294 on the Fortune 500. Lithia employs more than 14,150 people in stores across the nation including Alaska and Hawaii. Lithia operates 180 stores in 18 states.

Mercer is the world's largest human resources consulting firm. It is also the world's largest institutional investment advisor with over $10trn in assets under advice and more than $200bn in open architecture assets under delegated management. Mercer has also been ranked as the largest outsourced chief investment officer (OCIO) provider. Headquartered in New York City, Mercer has more than 23,000 employees, is based in more than 43 countries, and operates internationally in more than 130 countries. Mercer is a subsidiary of global professional services firm Marsh & McLennan, and Mercer's $4.3 billion in 2016 revenue represented 33% of the parent company's consolidated revenue.

<i>The Worlds Billionaires</i> annual ranking by net worth of the worlds wealthiest billionaires

The World's Billionaires is an annual ranking by documented net worth of the world's wealthiest billionaires compiled and published in March annually by the American business magazine Forbes. The list was first published in March 1987. The total net worth of each individual on the list is estimated and is cited in United States dollars, based on their documented assets and accounting for debt. Royalty and dictators whose wealth comes from their positions are excluded from these lists. This ranking is an index of the wealthiest documented individuals, excluding and ranking against those with wealth that is not able to be completely ascertained.

XPO Logistics, Inc. is a U.S. corporation and one of the world's 10 largest providers of transportation and logistics services. It operates as a third-party provider or 3PL in 32 countries and has over 50,000 customers, including 69 of the Fortune 100. XPO's corporate headquarters is located in Greenwich, Connecticut. Its European headquarters is located in Lyon, France.

Paycom Software, Inc., known simply as Paycom, is an American online payroll and human resource technology provider based in Oklahoma City, Oklahoma. It is attributed with being one of the first fully online payroll providers and has offices throughout the U.S. It has also been recognized by Fortune magazine as one of the fastest-growing publicly traded companies in the world and Forbes' magazine ranked it one of the top five fastest-growing publicly traded technology companies in its Fast Tech rankings. Founded in 1998, it reported annual revenue of $566.3 million for 2018, up from $433 million for 2017.

The Northwestern Mutual is an American financial services mutual organization based in Milwaukee. The financial security company provides consultation on wealth and asset income protection, education planning, retirement planning, investment advisory services, trust and private client services, estate planning and business planning. Its products include life insurance, disability income, and long-term care insurance; annuities; investments; and investment advisory products and services. Northwestern Mutual ranked No. 104 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.

References

  1. "Fortune 500". Fortune . Retrieved May 22, 2017.
  2. 1 2 "Edgar Smith, 69, Dies; Retired Time Executive". New York Times. 1989-10-12. Retrieved 1 March 2016.
  3. "1955 Full list". Fortune. Fortune 500. Retrieved 1 March 2016.
  4. Williams, Sean (2015-06-04). "Fortune 100: Everything You've Ever Wanted to Know About This Popular Annual Ranking". The Motley Fool. Retrieved 1 March 2016.
  5. "What happened to the first Fortune 500?". Fortune. Retrieved 2017-03-24.
  6. Groves, Martha (26 April 1995). "Service Now Counts with Fortune 500". Los Angeles Times . Retrieved 12 October 2017.
  7. Youn, Soo (16 May 2019). "Amazon cracks top 5 Fortune 500 companies as Walmart keeps top spot". ABC News. Retrieved 20 May 2019.
  8. Caitlin Dempsey (July 28, 2015). "Fortune 500 List by State for 2015". Geolounge.