Walmart Tops Fortune Global 500 for 12th Straight Year, US Leads Over Greater China

Walmart tops the Fortune Global 500 list for the 12th consecutive year, followed by Amazon, State Grid, Saudi Aramco, and China National Petroleum. The US remains in the lead with 138 companies, while Greater China has 130 companies. The Magnificent Seven (Amazon, Apple, Alphabet, Microsoft, Meta Platforms, Nvidia, and Tesla) posted a record aggregate revenue and profits of $2 trillion and $484 billion, respectively. The number of women CEOs at Fortune Global 500 companies reached a record high of 33 (6.6%).

Walmart has secured the top position on the 2025 Fortune Global 500 list for the 12th consecutive year, according to the latest release by Fortune. The retail giant's dominance is reflected in its $550 billion in revenue for the 2024 fiscal year, followed by Amazon, State Grid, Saudi Aramco, and China National Petroleum [1].

The United States continues to hold the lead with 138 companies on the list, while Greater China, comprising Mainland China, Hong Kong, Macau, and Taiwan, has 130 companies, down three from last year [1]. The top 10 companies generated over $370 billion in annual revenue, totaling $4.7 trillion, underscoring the economic significance of these corporations [1].

The financial sector remains the dominant force on the list, with 121 companies, followed by energy (79), motor vehicles and parts (35), technology (34), and healthcare (33) [1]. The Magnificent Seven—Amazon, Apple, Alphabet, Microsoft, Meta Platforms, Nvidia, and Tesla—posted a record aggregate revenue of $2 trillion and profits of $484 billion last year, highlighting their substantial contributions to the global economy [1].

Notably, the number of women CEOs at Fortune Global 500 companies has reached a record high of 33, representing 6.6% of the total companies, up five from the previous year [1]. This increase reflects a growing trend of gender diversity in corporate leadership.

The second-quarter earnings season is currently underway, with the Magnificent Seven companies—Microsoft, Meta Platforms, Apple, Amazon, Alphabet, Nvidia, and Tesla—expected to report their earnings this week [2]. These companies are anticipated to show significant growth, with earnings up 14% from the same period last year and revenues increasing by 11.9% [2].

The complete 2025 Fortune Global 500 list appears in the August/September issue of Fortune and is available online [1]. The list provides valuable insights into the global corporate landscape, reflecting the economic shifts and technological advancements that are reshaping the business world.

References:
[1] https://www.prnewswire.com/news-releases/fortune-announces-2025-fortune-global-500-list-302515397.html
[2] https://finance.yahoo.com/news/big-tech-earnings-coming-spotlight-140000575.html