Fortune 500
Fortune 500 is an annual list compiled and published by Fortune magazine that ranks 500 of the largest U.S. corporations by total revenue for their respective fiscal years. The list includes public 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. The Fortune 500 is a widely used measure of the health of the U.S. economy and is considered a symbol of business success.
History[edit | edit source]
The Fortune 500 list was first published in 1955, aiming to rank companies by their gross revenue. Over the years, it has become an important reference for gauging the business performance and economic health of the U.S. corporate sector. Initially, the list only included companies in the manufacturing, mining, and energy sectors, reflecting the industrial focus of the U.S. economy at the time. However, it has since expanded to include companies from all sectors, including technology, health care, and retail.
Criteria and Ranking[edit | edit source]
Companies are ranked by total revenues for their respective fiscal years. This includes the revenue from their annual reports and includes both public and private companies with publicly available revenue figures. The inclusion of private companies, which was not originally the case, has added a layer of comprehensiveness to the rankings.
Significance[edit | edit source]
The Fortune 500 list is more than just a ranking of companies. It serves as a barometer for the overall health of the U.S. economy, indicating trends such as the rise of technology companies or the decline of traditional manufacturing. Being listed on the Fortune 500 is considered a prestigious honor, signifying a company's size, success, and impact on the American economy and the world.
Criticism[edit | edit source]
Despite its prestige, the Fortune 500 has faced criticism. Some argue that the list focuses too much on revenue, which might not accurately reflect a company's financial health, profitability, or market value. Others point out that the list's focus on U.S. companies excludes significant global players, thus providing an incomplete picture of global economic trends.
Recent Trends[edit | edit source]
In recent years, the Fortune 500 list has seen a significant presence of technology companies, reflecting the sector's growing impact on the U.S. and global economies. This shift underscores the changing landscape of the U.S. economy, from traditional manufacturing to information technology and services.
See Also[edit | edit source]
 | This economics-related article is a stub. You can help WikiMD by expanding it. |
Navigation: Wellness - Encyclopedia - Health topics - Disease Index - Drugs - World Directory - Gray's Anatomy - Keto diet - Recipes
Search WikiMD
Ad.Tired of being Overweight? Try W8MD's physician weight loss program.
Semaglutide (Ozempic / Wegovy and Tirzepatide (Mounjaro) available.
Advertise on WikiMD
WikiMD is not a substitute for professional medical advice. See full disclaimer.
Credits:Most images are courtesy of Wikimedia commons, and templates Wikipedia, licensed under CC BY SA or similar.
Contributors: Prab R. Tumpati, MD
