It is the triple Michelin star of the corporate world—the ultimate mark of prestige. More people have climbed Mount Everest than the number of companies who have topped this list. In fact, some might tell you that climbing Everest is an easier feat than making it anywhere on the Fortune 100 list.
Since 1955, Fortune magazine has been listing the top 500 public and private companies in the US based on their annual reported revenue. Among the elite 500 is the even more exclusive Fortune 100. So, what does it take to make it?
When the annual list was first published, nominees were limited to companies based in manufacturing, mining, and energy. As a result, big auto and oil names like General Motors and Exxon ruled the list for decades. In fact, GM held the number one spot from the list’s inception and kept it for 30 years straight.
It was not until 1994 that Fortune loosened its requirements and began allowing other industries to take part—increasing the competition. In 1995, Walmart took the number four spot at $83 Billion in annual revenue. Other companies like it quickly started flooding the list.
Now, in 2019, a company typically has to break the $30 Billion mark to make the 100 list, and Walmart is still on top at over $514 Billion. If you were to look at this year’s list, you would find a good mix of manufacturing, tech, financial, and health companies mixed in with the occasional clothing brand (Nike) and food company (such as Coca-Cola, Kroger, and Albertson’s).
Interesting Facts
• Amazon, a relatively young company on the list at 25 years old, was not only ranked number 5 but was also listed as the fasted growing company on the list for 2019.
• Among the Fortune 100 list, the magazine produces a second ranking of companies predicted to change the world. Of that second list, four out of the top ten were tech companies—Apple, Alphabet, Microsoft, and Intel.
• The oldest company on the list is Cigna at number 65. A health insurance firm based in Connecticut, Cigna traces its roots back to 1792 when it was called simply the “Insurance Company of North America.”
• General Motors has been on the Fortune 100 every year since the list’s inception in 1955. In 2019, it was ranked 13.
• Walmart, the number one company in 2019, has 2.2 million employees. That is nearly half the population of Ireland and six times the population of Iceland.
• At $514 Billion in annual revenue, Walmart makes more money than the GDP of Austria ($503 Billion according to the IMF). That makes Walmart the 27th richest country in the world.