Fortune 500 Article

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The July 24, 2006 issue of Fortune, featuring its Fortune 500 list

The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years. [1] The list includes publicly held companies, along with privately held companies for which revenues are publicly available. The concept of the Fortune 500 was created by Edgar P. Smith, a Fortune editor, and the first list was published in 1955. [2] [3] The Fortune 500 is more commonly used than its subset Fortune 100 or superset Fortune 1000. [4]

Methodology

The original Fortune 500 was limited to companies whose revenues were derived from manufacturing, mining, and energy exploration. At the same time, Fortune published companion "Fortune 50" lists of the 50 largest commercial banks (ranked by assets), utilities (ranked by assets), life insurance companies (ranked by assets), retailers (ranked by gross revenues) and transportation companies (ranked by revenues). Fortune magazine changed its methodology in 1994 to include service companies. With the change came 291 new entrants to the famous list including three in the Top 10. [5]

History

The Fortune 500 was first published in 1955; created by Edgar P. Smith. [2] The original top ten companies were General Motors, Jersey Standard, U.S. Steel, General Electric, Esmark, Chrysler, Armour, Gulf Oil, Mobil and DuPont. [6]

Map

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Locations of companies of the 2015 Fortune 500 [7]

See also

References

  1. ^ "Fortune 500". Fortune. Retrieved May 22, 2017.
  2. ^ a b "Edgar Smith, 69, Dies; Retired Time Executive". New York Times. Retrieved 1 March 2016.
  3. ^ "1955 Full list". Fortune. Fortune 500. Retrieved 1 March 2016.
  4. ^ Williams, Sean. "Fortune 100: Everything You've Ever Wanted to Know About This Popular Annual Ranking". The Motley Fool. Retrieved 1 March 2016.
  5. ^ Groves, Martha (26 April 1995). "Service Now Counts with Fortune 500". Los Angeles Times. Retrieved 12 October 2017.
  6. ^ "What happened to the first Fortune 500?". Fortune. Retrieved 2017-03-24.
  7. ^ Caitlin Dempsey (July 28, 2015). "Fortune 500 List by State for 2015". Geolounge.

External links