On Wednesday, June 7, Fortune magazine released this yearsFortune 500rankings marking the 63rd running of the list. In total, Fortune 500 companies represent two-thirds of the U.S. GDP with $12 trillion in revenues, $890 billion in profits, $19 trillion in market value, and employ 28.2 million people worldwide.
tops the Fortune 500 list with $485 billion in revenue.
leaped over Apple to reach the No. 2 spot, its highest ranking ever.
The most profitable company on the list continues to be
with $46 billion in profits despite at 7.7% drop in sales and takes the No. 3 spot overall.
Overall revenues were up 0.5%, or $61 billion, over 2015 reflecting theeconomys slow but steady growth.
The total number of people employed at Fortune 500 companies rose 1% from 27.9 million.
This year marks a noticeable gain in women CEOs for Fortune 5000 companies which have been little changed for a number of years. Still small less than 10 percent of the CEOs for Fortune 500 companies are women it is a big increase from 21 female CEOs on last years list to 32 this year.
15 companiesfell off the Fortune 500 listan improvement from the 29 companies that fell from last years list. The majority fell as a result of the long-term oil glut, which clobbered revenues for energy companies.
2017 Fortune 500 Top 10 (Annual revenue in millions):
The top 10 companies make up just 2 percent of the list but combined have revenue of $2 trillion, or 18 percent, of all Fortune 500 companies.
Five companies jumped over 100 spots primarily the result of acquisitions. Newell Brands moved 226 spots which had acquired Jarden at the end of 2015. Charter Communications acquired Time Warner Cable and moved 196 spots.
The Top 10 Most Profitable (Annual profit in millions):
The overall profits for all Fortune 500 companies are up 6% from the year before even though 62 companies operated at a loss during the last fiscal year with a combined profit loss of $63 billion. This is an improvement from the previous list in which 55 companies operated at a combined profit loss of $132 billion.
This year marks the highest recorded total historically for the Fortune 500 list at 28 million people.32 companies employ more than 200,000 people and many areconsumer facing. Consumer facing companies tend to hire more people compared to a technology company that can typically scale their business with fewer resources due to the nature of the work involved.
Fortune 500 Newcomers (Annual revenue in millions):
Ascena Retail Group, $6,995 (No. 523, 2016 Fortune 1000)
Nvidia, $6,910 (No. 508, 2016 Fortune 1000)
Activision Blizzard, $6,608 (No. 532, 2016 Fortune 1000)
Builder FirstSource, $6,367 (No. 637, 2016 Fortune 1000)
TreeHouse Foods, $6,175 (No. 686, 2016 Fortune 1000)
Intercontinental Exchange, $5,958 (No. 529, 2016 Fortune 1000)
Adobe Systems, $5,854 (No. 524, 2016 Fortune 1000)
American Tower, $5,786 (No. 526, 2016 Fortune 1000)
Patterson, $5,555 (No. 559, 2016 Fortune 1000)
AmTrust Financial Services, $5,451 (No. 531, 2016 Fortune 1000)
Liberty Media, $5,276 (No. 525, 2016 Fortune 1000)
Michaels Cos., $5,197 (No., 517, 2016 Fortune 1000)
Twelve companies from last years Fortune 1000 list made the Fortune 500 list for the first time. The newcomer list includes some rising tech companies, including Elon Musks electric car company, Tesla, and the prior video game company, Activision, now a film and e-sports company. Another noteworthy company to watch is YUM China which is succeeding in a very huge market.
October Employment and Unemployment: Its Crunch Time
Hiring Rebounds, Second Biggest Expansion Year-to-Date
What employers need to know about the July jobs report
Ho-hum job creation mixed with a surge in higher wages
5 things employers need to know about the June jobs report
U.S. Patents No. 7,599,930 B1; 7,827,125 and 7,836,060V: 2018.13.0.23-315-