Every year, Fortune magazine releases a list that captures the attention of the global business world: the Fortune 500. More than just a ranking, this list is a snapshot of the American economy, revealing which companies are driving growth, innovation, and employment across industries.
From tech giants like Apple and Microsoft to retail powerhouses like Walmart and Amazon, the Fortune 500 represents the most successful and influential corporations in the United States.
But what does it actually mean to be a Fortune 500 company? Is it purely about making money, or does it say something deeper about strategy, scale, and leadership?
In this article, we’ll break down exactly what the Fortune 500 is, how companies make the list, why it matters, and what the 2025 rankings reveal about the future of business.
What Is a Fortune 500 Company?
A Fortune 500 company is one of the 500 largest publicly or privately held corporations in the United States, ranked each year by Fortune magazine based on their total annual revenue.
The list serves as a benchmark for business success, highlighting which companies dominate their industries, from energy and retail to finance, healthcare, and technology.
The Fortune 500 list was first published in 1955, and over time, it has become one of the most recognized indicators of corporate scale and influence. Inclusion on the list doesn’t just reflect financial size; it represents a company’s ability to compete, adapt, and grow in an ever-changing economy.
To qualify, a company must be U.S.-based and must file financial statements with a government agency, which ensures transparency and accountability. Companies are then ranked strictly by their annual revenue, not by profits, brand value, or market capitalization.
Being part of the Fortune 500 signifies far more than just earning billions. It’s a status symbol in the business world, one that communicates trust, stability, and market leadership. These are the organizations that shape economic trends, employ millions, and often set the tone for global innovation and investment.
How the Fortune 500 List Is Ranked
At its core, the Fortune 500 ranking is based on one key metric: annual revenue. Each year, Fortune magazine compiles and analyzes financial data from eligible companies to determine which organizations generate the most income from their operations.
The list focuses exclusively on U.S.-based corporations, including both public and certain private companies that make their financials publicly available.
Here’s how the process works:
- Revenue Measurement: Companies are ranked by their total revenue for the fiscal year. This includes sales of goods and services, as well as other income streams.
- Eligibility: To qualify, a company must be incorporated in the U.S. and file official financial statements with a government agency such as the SEC. Subsidiaries of foreign companies, even if they have major operations in the U.S., are not eligible.
- Verification: Fortune reviews and cross-checks the data from publicly available filings, company reports, and independent audits to ensure accuracy.
- Publication: The final list is released annually, typically in late spring or early summer, accompanied by analysis on sector performance, trends, and notable shifts.
It’s also important to note the distinction between the Fortune 500 and the Fortune Global 500. While the U.S. list highlights the top American companies, the Global 500 expands the scope to include the world’s largest corporations, from Europe, Asia, Latin America, and beyond.
Ultimately, the Fortune 500 ranking isn’t about market capitalization or brand recognition; it’s a measure of economic output and scale. That’s why some companies you’ve never heard of may rank higher than famous brands, because their annual revenues, not their popularity, drive the numbers.
A Brief History of the Fortune 500
The Fortune 500 was born in 1955, when Fortune magazine set out to capture a clear picture of the U.S. economy’s most powerful players. At the time, the list focused solely on industrial companies, the giants of manufacturing, energy, and raw materials that fueled post-war growth. Names like General Motors, Exxon, and U.S. Steel dominated the early rankings, reflecting an America powered by factories, oil, and automobiles.
As the decades passed, the business landscape evolved, and so did the list. By the 1970s and 1980s, service-oriented and technology companies began to rise, mirroring a shift in how the economy created value. The Fortune 500 expanded its criteria to include companies from all sectors, not just manufacturing, recognizing the growing importance of industries like finance, healthcare, retail, and telecommunications.
The digital revolution of the 1990s and 2000s transformed the rankings once again. Tech titans such as Apple, Microsoft, Amazon, and Google (Alphabet) emerged as new economic powerhouses, displacing many of the old industrial leaders. Today, the list reflects a blend of legacy corporations and innovation-driven disruptors, from Walmart and Berkshire Hathaway to Meta and Tesla.
What makes the Fortune 500 so enduring is its ability to mirror the shifts in American business priorities. From steel to software, from oil to algorithms, the list tells a story of adaptation, of how the most successful companies continually reinvent themselves to stay on top in a changing world.
Examples of Fortune 500 Companies in 2025
The 2025 Fortune 500 list showcases a diverse mix of industries that power the U.S. economy, from tech and retail to energy, finance, and healthcare. Each company on the list has reached extraordinary scale, often generating tens or even hundreds of billions of dollars in annual revenue.
Below are a few standout examples that define this year’s rankings.
Walmart
Consistently holding the #1 spot, Walmart remains the world’s largest retailer, with revenues exceeding $600 billion. Its dominance is built on vast global supply chains, low-cost logistics, and an omnichannel retail strategy that blends physical stores with digital commerce.
Amazon
Beyond e-commerce, Amazon’s rise to the top is fueled by its cloud computing arm, Amazon Web Services (AWS), which powers much of the internet’s infrastructure. Its continued growth reflects how technology and logistics innovation can reshape entire industries.
Apple
A perennial top-five company, Apple represents the power of design, branding, and global consumer loyalty. Its record-breaking profits and strong hardware ecosystem, from iPhones to Macs, keep it one of the most valuable companies on the planet.
ExxonMobil
As one of the oldest Fortune 500 members, ExxonMobil remains an energy giant. Despite global pushes toward sustainability, its vast operations in oil and gas keep it among the top revenue earners each year.
Berkshire Hathaway
Led by Warren Buffett, this investment conglomerate holds stakes in companies across insurance, railroads, energy, and consumer goods. Its diversified portfolio makes it one of the most stable powerhouses in the rankings.
UnitedHealth Group
Reflecting the growing influence of the healthcare sector, UnitedHealth combines insurance, data analytics, and health services, earning its place among America’s highest-earning corporations.
These examples illustrate how a single industry no longer dominates the Fortune 500. Today’s list captures the interconnectedness of modern business, where retail relies on tech, energy powers logistics, and healthcare merges with data.
The 2025 rankings also show an emerging pattern: companies that innovate through technology and sustainability tend to climb faster. Whether it’s digital transformation, renewable energy adoption, or global scalability, the new leaders of the Fortune 500 are defined by adaptability as much as by size.
What It Means to Be a Fortune 500 Company
Being part of the Fortune 500 is more than a badge of size; it’s a mark of credibility, influence, and operational excellence. When a company makes the list, it signals to investors, employees, and the public that it has reached the highest level of business achievement in the U.S. economy.
At its core, Fortune 500 status represents scale and stability. These companies have proven their ability to generate massive revenues year after year, manage complex global operations, and adapt to market shifts. For investors, it often means a lower risk profile and a reliable track record. For consumers, it implies trust in the brand.
But the title also brings responsibility and visibility. Fortune 500 companies are expected to lead not only in profit, but also in innovation, ethics, and sustainability. They shape markets, influence government policy, and set standards for workplace culture and diversity.
There’s also a symbolic value. Making the Fortune 500 signals that a company has “made it”, that it has moved beyond startup success into national or even global dominance. The list is often used as shorthand for the American corporate elite, a reflection of which businesses have the most impact on jobs, innovation, and economic growth.
However, it’s worth noting that Fortune 500 status doesn’t guarantee profitability or longevity. Some companies have appeared on the list only to later collapse or restructure, a reminder that size alone doesn’t equal resilience. The most enduring members are those who continue to evolve, innovate, and reinvest in their future.
In short, being a Fortune 500 company means being part of a select group that drives the U.S. economy, the benchmark for business success, leadership, and endurance.
Trends Shaping the Fortune 500 in 2025
The 2025 Fortune 500 list reflects a rapidly changing business landscape, one where technology, sustainability, and adaptability determine who rises and who falls. The companies leading this year’s rankings aren’t just large; they’re strategically aligned with the biggest global shifts in how we live, work, and consume.
Here are the key trends shaping the Fortune 500 today:
Tech Dominance Across All Industries
Technology isn’t just a sector anymore; it’s the foundation of nearly every Fortune 500 company. Even traditional players in retail, manufacturing, and finance are now powered by data analytics, AI, and automation.
The rise of digital platforms and cloud computing continues to blur industry lines, pushing companies like Amazon, Microsoft, and Alphabet to the forefront.
The Push for Sustainability and ESG Reporting
Environmental, Social, and Governance (ESG) initiatives have become a strategic priority. From carbon neutrality pledges to ethical supply chains, companies are being judged not only on revenue, but on responsibility.
Investors and consumers alike are favoring businesses that integrate sustainability into their core models.
Remote Work and Workforce Globalization
Even the biggest U.S. corporations are embracing distributed teams and flexible work models. Many Fortune 500s are hiring remote talent across borders, particularly in Latin America, to cut costs, improve time-zone collaboration, and access specialized skills. This shift is redefining how corporate giants build and manage their global operations.
Healthcare, AI, and Energy Transformation
The healthcare and energy sectors are undergoing massive innovation. AI-driven diagnostics, clean energy investments, and electric vehicle expansion are fueling new waves of growth.
Companies like UnitedHealth, Tesla, and NextEra Energy illustrate how technology and sustainability are converging.
Financial Resilience in Uncertain Markets
In a volatile global economy, the most successful Fortune 500 companies are those with diversified revenue streams and strong balance sheets. The ability to pivot, reduce costs, and invest in long-term innovation has become the hallmark of modern corporate leadership.
The Fortune 500 of 2025 highlights a clear message: adaptation is the new advantage. Companies that leverage technology, sustainability, and global collaboration are not only surviving but thriving in an unpredictable world.
How Companies Can Aim for Fortune 500 Status
Joining the ranks of the Fortune 500 isn’t easy, but it’s not impossible. Every major corporation on the list started as a smaller company with a bold idea, a clear vision, and the discipline to scale.
While not every business can reach that level, there are clear strategies that aspiring companies can follow to move in that direction.
Here’s what sets Fortune 500 companies apart and how growing businesses can learn from them:
Build Scalable Systems and Operations
Fortune 500 companies thrive on efficiency and repeatability. They create systems that can handle growth, from supply chain management to customer support.
Investing early in process automation, data infrastructure, and technology platforms allows smaller firms to scale sustainably.
Focus on Innovation and Customer Value
Every company that’s made the list, from Apple to Tesla, has one thing in common: relentless innovation.
They continuously refine their products and services based on customer needs. Innovation doesn’t have to be flashy; it just needs to deliver clear, measurable value that sets the business apart.
Prioritize Financial Discipline and Transparency
The Fortune 500 isn’t just about revenue; it’s about accountability. Companies must maintain transparent financial reporting, strong governance, and reliable metrics that reflect real growth.
For startups and mid-sized firms, this means keeping clean books, managing debt wisely, and building investor confidence.
Invest in Leadership and Talent
Behind every Fortune 500 success story is a world-class leadership team. The ability to recruit, train, and retain top talent is critical for long-term growth.
Many U.S. companies are now expanding their reach by hiring remote professionals from Latin America, combining cost efficiency with time-zone alignment and cultural fit.
Think Global, Act Strategic
Even U.S.-based companies on the Fortune 500 operate with a global mindset. They diversify markets, suppliers, and partnerships to reduce risk and seize new opportunities.
Whether it’s entering new regions or embracing digital marketplaces, growth today depends on expanding your footprint strategically.
Becoming a Fortune 500 company takes more than profit; it takes vision, adaptability, and operational excellence. By building scalable foundations, investing in innovation, and surrounding themselves with great teams, ambitious businesses can follow the same path that once turned small startups into global powerhouses.
The Takeaway
Decades after its creation, the Fortune 500 remains one of the most powerful mirrors of the U.S. economy, a living snapshot of ambition, scale, and adaptability.
It highlights the companies that not only generate extraordinary revenue but also set the tone for how industries evolve. These are the businesses that innovate, employ millions, and redefine what success looks like in a fast-changing world.
Yet behind every Fortune 500 company’s rise lies one universal truth: great teams build great companies. Growth at that level requires visionary leadership, efficient systems, and access to exceptional talent, often across borders.
That’s where South can become an invaluable partner. If you’re a U.S. founder or business leader looking to scale smartly, we can help you build high-performing remote teams across Latin America, matching you with pre-vetted professionals in engineering, finance, marketing, operations, and more. You’ll access top-tier talent, aligned in time zone and culture, at a fraction of U.S. costs. Because every great company, Fortune 500 or not, starts with the right people.
If you’re ready to grow your team the smart way, book a free call today and start building your own path to Fortune 500-level performance!
Frequently Asked Questions (FAQs)
What is the difference between the Fortune 500 and the Fortune Global 500?
The Fortune 500 ranks the largest U.S.-based companies by total annual revenue, while the Fortune Global 500 includes the world’s largest corporations from all countries. For example, Walmart often tops both lists, but the Global 500 also features international giants like Toyota, Samsung, and Shell.
How often is the Fortune 500 list updated?
The list is updated annually by Fortune magazine, usually around May or June. Each year’s ranking reflects the previous fiscal year’s revenue, along with insights into industry trends and corporate shifts.
Can private companies be part of the Fortune 500?
Yes, as long as they are U.S.-based and make their financial information publicly available. Some large private companies, however, choose not to disclose their earnings, which prevents them from being ranked.
Which company has topped the Fortune 500 the most times?
Walmart holds the record, consistently securing the #1 position for decades due to its massive global retail operations and record-breaking annual revenue.
What does it take for a company to join the Fortune 500?
It comes down to scale, transparency, and consistent growth. A company must be U.S.-based, report its revenue publicly, and generate billions in annual sales. But beyond size, the most successful Fortune 500 companies are those that continually innovate, adapt, and invest in people, qualities any business can emulate, even without billions in the bank.
