Walmart tops Fortune Global 500 list for 10th year in a row (1)

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Walmart tops Fortune Global 500 list for 10th year in a row (1)

The energy sector is the protagonist; Saudi Aramco is second in revenue and first in profit, the highest annual totals ever for a Fortune Global 500 company.

142 Chinese companies in the 2023 ranking, 136 American, 41 Japanese, 30 German; Japan and France fell to record lows

Amazon, Apple, UnitedHealth and CVS among top US companies on Fortune list; The United States has reached its highest company total since 2010, and its highest as an independent country in 2023.

Number of women CEOs to increase from 24 in 2022 to 29 in 2023

New and returning companies include Warner Bros. Discovery, Salesforce, Uber, Lufthansa, HD Hyundai, Daimler Trucks; Chinese companies Contemporary Amperex Technology and Meituan; and energy and natural resource startups like Canadian Natural Resources

NEW YORK, Aug. 2, 2023 /PRNewswire/ — Fortune announced today that American retailer Walmart has topped the Fortune Global 500() list for 2023, which lists the world’s largest corporations by revenue for fiscal year 2022. does the ranking. In Fortune’s official ranking of the Corporate World Order (CU), the Arkansas-based retailer was No. 1 for the 10th year in a row and the 18th time since 1995. Walmart joins an increase in the number of US companies on the Global 500 list this year, reaching its highest total ever. With 136 companies since 2010, which is the highest for an independent country.

The strength of the global energy sector was on display as Saudi Aramco came close to toppling the retail giant. Saudi Aramco (No. 2) benefited from rising energy prices — spurred by Russia’s invasion of Ukraine — which also pushed Exxon Mobil (No. 7) and Shell (No. 9) back into the top 10 in terms of revenue. In profits, Saudi Aramco earned $159 billion, the highest ever annual total for a Fortune Global 500 company.

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Big tech, for its part, showed that they too remain a solid and profitable sector. Combined, Apple, Alphabet and Microsoft generated $233 billion in net income, and Apple (No. 8) made a profit of just under $100 billion, the most ever for a US company.

This year’s Fortune Global 500 lists 39 newcomers, including Warner Bros. Discovery (No. 449), and 23 newcomers including Chinese companies Contemporary Amperex Technology (No. 292) and Meituan (No. 467) for the first time. There are 16 companies which returned. list after a gap of at least one year, such as Colombian Ecopetrol (number 397) and French Air Liquide (number 488).

By geography, overall Chinese companies – Greater China: mainland China including Hong Kong, as well as Taiwan – top this year’s Global 500 list with 142 companies. But 136 US companies will generate more revenue in 2022: $13 trillion versus Greater China’s $11.7 trillion. The economic slowdown, tighter regulation and the prolonged impact of COVID restrictions in mainland China have hurt the revenue of consumer-facing companies including Alibaba (No. 68), Tencent (No. 147) and JD.com (No. 52). Damaged.

Top 10 from 2023 Fortune Global 500 list:

Fortune Global 500 companies generated a combined revenue of $41 trillion – more than a third of global GDP – an 8% increase over the previous year. Retained earnings fell 7% from last year to $2.9 trillion. The companies on the 2023 list employ 70.1 million people worldwide and are headquartered in 232 cities and 33 countries/territories and territories around the world. The number of women CEOs of Fortune Global 500 companies increased from 24 last year to 29 this year.

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The complete Global 500 list appears in the August/September issue of Fortune, and is available here today. The complete data set can be purchased here.

Fortune editor-in-chief Alison Schontell wrote in the issue that this year’s list has an underlying theme: “Even the world’s largest companies can be toppled and relegated.”

Walmart, the world’s largest company by revenue for the past ten years, “needs to turn its attention,” he writes. It was a banner year for Saudi Aramco, thanks to its ability to pump cheap oil from reserves.” However, he noted that the Saudi government, which controls Aramco, is investing its profits in research and development of green technology and other areas.

The Fortune Global 500 issue also highlights how Alphabet (No. 17) “faces the classic innovator’s dilemma with generative artificial intelligence,” said Shontelle, as Fortune’s Jeremy Kahn pointed out in his latest issue. Alphabet’s Google has invested a lot of money and expertise in artificial intelligence, but the same revolutionary technology is threatening the search business that has fueled Google’s profit machine since the 2000s. And the biggest threat is Microsoft. (No. 30) thanks to its partnership with OpenAI, the creator of ChatGPT,” said Shontelle.

Shontel wrote, “Whoever builds the best mousetrap in the field of generative artificial intelligence, whether it’s Google, Microsoft, Meta (No. 81), or some as-yet-unknown startup, could change the way the world finds information.” ”

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Scott DeCarlo, editor of the Fortune list, said: “The companies on our annual list of the world’s biggest companies showed their strength in 2022, posting record revenues and in some cases profits. However, the Fortune Global 500 list, the ultimate measure of business success Nothing has remained constant, as technological change and scientific breakthroughs threaten established leaders and elevate new emerging conquerors.”

The companies have been ranked on the basis of total revenue for their respective financial years ending on or before March 31, 2023. All companies on the list must publish financial data and report some or all of their numbers to a government agency. The most recent figures on the list are those reported by the companies; Comparisons are with last year’s figures as originally reported. Fortune does not update last year’s figures due to accounting changes.

About Fortune: Fortune maintains a legacy of award-winning writing and credible reporting for executives who want to improve business. Independently owned, with a global perspective and digital agility, Fortune tells the stories of a new generation of innovators, builders and risk-takers. Online and on paper, FORTUNE measures corporate performance through rigorous standards and holds companies accountable. Fortune builds communities by bringing together true thought leaders and iconoclasts – who shape industry, commerce and society – through powerful and prestigious lists, events and conferences, such as the prestigious Fortune 500, CEO Initiative and Most Powerful Women Is. For more information, visit fortune.com.

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