The Fortune 500 for 2010 has just been released. Wal-Mart is the largest company in the US in terms of revenue, surpassing Exxon Mobil by quite a large margin.
Why are these 500 companies such a big deal you may ask? Well, in 1955, the 500 largest companies in America represented around 39% of all activity in the country, or around 2/5ths of GDP. In 2010, the fortune 500 companies represent around 75%, or 3/4ths of GDP. So, in theory, 75 cents out of every American dollar is a result of these 500 companies.
The companies themselves are a snapshot of the economy of the U.S. and provide insight into the geographic diversity of the country. The top 5 states in terms of revenue are: New York, Texas, California, Illinois & Arkansas (due to Wal-Mart). Companies in these top 5 states account for around 50% of all the revenue in the Fortune 500 firms.
If we do the same analysis for industries, a similar snapshot of the economy emerges. The top 5 industries are: Petroleum Refining, Commercial Banks, General Merchandisers, Insurance: Property & Casualty, and Specialty Retailers. These top 5 industries make up around a third of all economic activity generated by all Fortune 500 Companies.
Why are these 500 companies such a big deal you may ask? Well, in 1955, the 500 largest companies in America represented around 39% of all activity in the country, or around 2/5ths of GDP. In 2010, the fortune 500 companies represent around 75%, or 3/4ths of GDP. So, in theory, 75 cents out of every American dollar is a result of these 500 companies.
The companies themselves are a snapshot of the economy of the U.S. and provide insight into the geographic diversity of the country. The top 5 states in terms of revenue are: New York, Texas, California, Illinois & Arkansas (due to Wal-Mart). Companies in these top 5 states account for around 50% of all the revenue in the Fortune 500 firms.
If we do the same analysis for industries, a similar snapshot of the economy emerges. The top 5 industries are: Petroleum Refining, Commercial Banks, General Merchandisers, Insurance: Property & Casualty, and Specialty Retailers. These top 5 industries make up around a third of all economic activity generated by all Fortune 500 Companies.
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