Fortune Magazine has released the 68th edition of their annual list of the top 500 US companies with Walmart, Amazon, and Apple topping the list.
Fortune 500 list is an annual list of the top 500 largest companies in the United States, ranked based on the total revenue each of the companies generated in their respective fiscal years. It is compiled by Fortune Magazine.
A check by Investors King shows 2022 top 500 largest companies in the United States earned a combined $16.1 trillion in revenue and realised $1.8 trillion in profits. Indicating that the 2021 revenue grew by $6.4 billion, or 19% when compared to 2021 numbers.
Breaking down this year’s list, Walmart took the top spot for the tenth year in a row, generating $5.1 trillion cumulative revenue over that time. Amazon.com came second with a 22% increase in revenue in 2021 to cross the $450 billion threshold.
Apple, perhaps the most profitable company on the list for the eighth time in eight years, generated profits of $95 billion to sit in the number three position.
CVS Health and CEO Karen Lynch strive to produce Fortune 500 history as the highest-ranking firm ever led by a female CEO, at number 4.
UnitedHealth Group maintained its position as USA’s largest health insurance provider, with considerable growth in 2021. The corporation served 2.2 million more individuals this year than the previous year, and revenue increased by 12% to $287 billion, making it claim the 5th spot.
Exxon Mobil has risen from 10th to 6th place on the Fortune 500 after a difficult, pandemic-affected 2020. After COVID-related limitations drove energy consumption and oil and gas prices to plunge, Exxon Mobil trimmed costs to shore up its balance sheet, laying off 9,000 employees. These measures, combined with a resurgence in oil prices, let the business earn more than $23 billion in 2021, its highest annual profit in seven years.
Warren Buffet’s Berkshire Hathaway generated the second-largest profits among Fortune 500 firms last year, with $90 billion in net income. Its stock also soared, returning 23.2 percent in 2021, putting it in the 7th position.
Alphabet had a spectacular record, reaching $200 billion in sales for the first time. Alphabet was the best-performing Big Tech stock in 2021, with shares up nearly three times the Nasdaq’s 22 percent gain. It also put aside $50 billion for share repurchases and announced a 20-to-1 stock split to stimulate more investment. With steady growth in revenue and profit from 2006, Alphabet took the 8th spot.
Mckesson, one of the largest drug distributors in the country ranked 9th with a clear revenue of $238,228 million in the 2021 fiscal year despite a $4.5 billion loss.
Despite a fall in this year’s ranking, AmerisourceBergen increased its revenue by 12.7%, to $214 billion for the 2021 fiscal year. The company ranked 10th, following its counterpart, Mckesson.
2022 Top 10 Fortune 500 List
- Walmart
- Amazon
- Apple
- CVS Health
- United Health Group
- Exxon Mobil
- Berkshire Hathaway
- Alphabet
- Mckesson
- AmerisourceBergen
