Fortune 500
| Formation | 1955 |
|---|---|
| Founder | Edgar P. Smith |
| Purpose | Ranking of the top 500 U.S. corporations by total revenue |
| Headquarters | New York City, New York |
Parent organization | Fortune |
The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks 500 of the largest U.S. corporations by total revenue for their respective fiscal years. The list includes both publicly and privately held companies for which revenues are publicly available. The Fortune 500 is a subset of the Fortune 1000.
History[edit | edit source]
The Fortune 500 was first published in 1955 by Edgar P. Smith, a Fortune editor. The original list was limited to companies whose revenues were derived from manufacturing, mining, and energy exploration. In 1994, the list was expanded to include service companies, which had been previously excluded. This change allowed many new companies to enter the list, reflecting the growing importance of the service sector in the U.S. economy.
Criteria[edit | edit source]
To be eligible for the Fortune 500, a company must be incorporated in the United States and file financial statements with a government agency. The rankings are based on total revenues for the company's fiscal year, which must be publicly available. The list includes both publicly traded and privately held companies, provided they meet the revenue criteria.
Significance[edit | edit source]
The Fortune 500 is considered a prestigious ranking and is often used as a benchmark to compare the performance of U.S. companies. It is widely referenced in business and economic discussions and is used by analysts, investors, and policymakers to gauge the health and trends of the U.S. economy.
Notable Companies[edit | edit source]
Some of the most notable companies that have consistently appeared on the Fortune 500 list include:
Trends[edit | edit source]
Over the years, the composition of the Fortune 500 has evolved, reflecting broader economic trends. For example, the rise of the technology sector has seen companies like Apple Inc., Amazon, and Alphabet Inc. climb the ranks. Similarly, the decline of traditional manufacturing has seen some companies fall off the list.
Criticisms[edit | edit source]
The Fortune 500 has faced criticism for various reasons, including its focus on revenue rather than profitability or other measures of success. Additionally, some argue that the list does not adequately represent the diversity of the U.S. economy, particularly smaller or emerging companies.
See also[edit | edit source]
References[edit | edit source]
External links[edit | edit source]
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