Today, FORTUNE announced the 68th FORTUNE 500, its annual list of the largest corporations in the United States, ranked by revenue for the 2021 fiscal year. The revenue threshold for 2022 FORTUNE 500 list was $6.4 billion, up 19% from last year. In total, FORTUNE 500 companies represent two-thirds of the U.S. GDP with $16.1 trillion in revenues (up 17%), $1.84 trillion in profits (up 114%), $37 trillion in market value (up 13%), and employ 29.7 million people worldwide. 44 companies on the 2022 FORTUNE 500 are led by women CEOs—an all-time high.
The top five companies held their positions on the list, with Walmart (NYSE:WMT) taking the top spot for the tenth year in a row, generating $5.1 trillion cumulative revenue over that time. At No. 2, Amazon.com (NASDAQ:AMZN) saw a 22% jump in revenue, eclipsing the $450 billion mark. In the No. 3 spot, Apple (NASDAQ:AAPL) is the most profitable company on the list for the seventh time in eight years, earning $95 billion in profits. At No. 4, CVS Health (NYSE:CVS) and CEO Karen Lynch continue to make FORTUNE 500 history, with CVS as the highest-ranked company ever to be led by a female CEO.
THE TOP TEN COMPANIES ON THE 2022 FORTUNE 500 LIST ARE:
1. Walmart 2. Amazon.com 3. Apple 4. CVS Health 5. UnitedHealth (NYSE:UNH) Group 6. Exxon Mobil (NYSE:XOM) 7. Berkshire Hathaway 8. Alphabet 9. McKesson 10. AmerisourceBergen (NYSE:ABC)
The companies on this year’s list are based in 232 different cities spread across 37 states. For the first time since 2010, Texas is home to the most companies on the FORTUNE 500, with 53. After seven years at the top, New York fell to No. 2 with 51 companies, followed by California at No. 3 with 50. New York City, with 43 companies, is the top municipality followed by Houston with 21, Atlanta with 15, Chicago with 14, and Dallas with 11.
In her foreword to the June/July 2022 issue of FORTUNE, Editor-in-Chief Alyson Shontell writes, “Several pandemic winners make their debuts this year. Vaccine maker Moderna (NASDAQ:MRNA) clocked in at No. 195. Zillow, which benefited from the red-hot housing market, comes in at No. 424. And Coinbase (NASDAQ:COIN) (No. 437) became the first crypto company to join the 500. […] The real winners will be the companies that not only thrived under the freakish circumstances of COVID, but can flourish once the world opens back up.”