(NewsNation) — Walmart topped the Fortune 500 list for the 13th straight year, but second-place Amazon is closing the gap, according to the magazine’s latest annual rankings.
Walmart secured the No. 1 spot on Fortune’s 2025 rankings with revenue of $681 billion, followed by Amazon at $638 billion — the narrowest gap ever between the two retail giants, Fortune said.
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UnitedHealth Group, Apple and CVS Health also ranked among Fortune’s top five U.S. corporations by revenue for the 2024 fiscal year.
“The Fortune 500 is a literal roadmap to the rise and fall of markets, a reliable playbook of the world’s most important regions, services, and products, and an indispensable roster of those companies’ dynamic leaders,” Anastasia Nyrkovskaya, Fortune CEO, said in a release.
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Retailers, utilities, and insurance companies led all industries with the most companies on the list, but the health care sector also stood out.
Eight health care companies made the top 25 this year, up from none 30 years ago, Fortune said.
Together, Fortune 500 companies represent two-thirds of the U.S. GDP, generating $19.9 trillion in revenues, according to the magazine. They posted a record $1.87 trillion in profits last year.
For the second year in a row, California is home to the most Fortune 500 companies, with a total of 58, followed by Texas (54) and New York (53).
The share of female CEOs also hit a new milestone this year, with 55 women leading Fortune 500 companies — the highest proportion in the list’s history at 11%.
The top 10 U.S. companies, ranked by FY 2024 revenue, according to Fortune:
Walmart ($681 billion)
Amazon ($638 billion)
UnitedHealth Group ($400 billion)
Apple ($391 billion)
CVS Health ($373 billion)
Berkshire Hathaway ($371 billion)
Alphabet ($350 billion)
Exxon Mobil ($350 billion)
McKesson ($309 billion)
Cencora ($294 billion)
