It is learned that Walmart has topped the Fortune 500 list for ten consecutive years; Amazon, Apple, UnitedHealth and CVS are also at the top of the list; the total number of American companies on the Fortune Global 500 has reached the highest level since 2010, reaching 136, which is also the highest number for an independent country.

Based on fiscal year 2022 revenue, US retailer Walmart topped the 2023 Fortune Global 500 list with $611.3 billion in revenue. The Arkansas-based retailer has ranked first for 10 consecutive years and the 18th time since 1995.

Fortune 500 Companies

This year, Fortune reported that the strength of the global energy industry was evident when Saudi Aramco nearly dethroned the retail industry’s Goliath. Saudi Aramco (No. 2) benefited from higher energy prices driven by Russia’s invasion of Ukraine, which also pushed ExxonMobil (No. 7) and Shell (No. 9) back into the top 10 in terms of revenue. In terms of profits, Saudi Aramco achieved $159 billion in profits, the highest annual profit total ever for a Fortune Global 500 company.

On the other hand, big tech companies proved that the industry remains a strong and profitable sector. Apple, Alphabet and Microsoft generated a combined net profit of $233 billion, with Apple (ranked eighth) making nearly $100 billion.

The report shows that there are 39 new companies on the Fortune Global 500 this year, including 23 companies that made their debut, such as Warner Bros. Discovery (No. 449), as well as China's first-time list of Contemporary Amperex Technology Co., Ltd. (No. 449) and Meituan (No. 467).

From a regional perspective, a total of 142 Chinese companies are on the list of the Fortune Global 500 this year. In 2022, these 136 American companies created $13 trillion, with mainland China accounting for $11.7 trillion.

Top 10 Fortune Global 500 Companies in 2023

1. Walmart (USA)

2. Saudi Aramco (Saudi Arabia)

3. State Grid Corporation of China

4. Amazon (US)

5. China National Petroleum Corporation (China)

6. Sinopec (China)

7. ExxonMobil (USA)

8. Apple (USA)

9. Shell (UK)

10. UnitedHealth Group (USA)

The Fortune Global 500 companies had a combined revenue of $41 trillion, accounting for more than a third of global GDP, up 8% from last year. Retained earnings fell 7% from last year to $2.9 billion.

It is learned that the companies on the 2023 list have 70.1 million employees worldwide, with headquarters in 232 cities, 33 countries and regions around the world. The number of female CEOs of Fortune Global 500 companies has increased from 24 last year to 29 this year.

Editor ✎Estella/

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