- FORTUNE has announced the 2025 FORTUNE GLOBAL 500 list.
– Walmart has retained its position as the number one retailer for the twelfth consecutive year.
– The United States continues to lead over Greater China in terms of the number of companies represented.
– A record 33 women are serving as CEOs of Fortune Global 500 companies, representing 6.6% of the total.
– The Magnificent Seven companies achieved record aggregate revenues of $2 trillion and profits of $484 billion last year.
NEW YORK, July 29, 2025 — Today, Fortune released the 2025 Fortune Global 500™ list, which ranks the world’s largest corporations by revenue for the 2024 fiscal year.
Walmart has secured the number one position on the Fortune Global 500 list for the twelfth consecutive year. Amazon, State Grid, Saudi Aramco, and China National Petroleum follow it. The top ten companies on the Fortune Global 500 list generated over $370 billion in annual revenue, accumulating a total of $4.7 trillion.
Fortune’s authoritative ranking of the current corporate landscape highlights the significant dominance of U.S. companies, which number 138 in total. The U.S. continues to lead over Greater China, which has 130 companies, down three from the previous year. Greater China includes Mainland China, Hong Kong, Macau, and Taiwan. Notably, China and the U.S. together account for nine of the ten most profitable companies in the Fortune Global 500 rankings.
The financial sector remains the leader on the list, featuring 121 companies. It is followed by the energy sector with 79 companies, motor vehicles and parts with 35, technology with 34, and healthcare with 33. Together, these sectors represent 60% of the companies on the list and account for 66% of the total revenue generated.
The Magnificent Seven achieved a record aggregate revenue of $2 trillion and profits of $484 billion last year. Collectively, the companies—Amazon (No. 2), Apple (No. 8), Alphabet (No. 13), Microsoft (No. 22), Meta Platforms (No. 41), Nvidia (No. 66), and Tesla (No. 106)—generated a net income of $484 billion.
THE 2025 FORTUNE GLOBAL 500 TOP 10 LIST:
- Walmart (U.S.)
- Amazon.com (U.S.)
- State Grid (China)
- Saudi Aramco (Saudi Arabia)
- China National Petroleum (China)
- Sinopec (China)
- UnitedHealth Group (U.S.)
- Apple (U.S.)
- CVS Health (U.S.)
- Berkshire Hathaway (U.S.)
In 2025, companies on the Fortune Global 500 list achieved a record-breaking total revenue of $41.7 trillion, marking a 1.8% increase from the previous year. These companies employed 70.1 million people worldwide. In 2024, they also reported their second-highest profitability ever, with a combined profit of $2.98 trillion, reflecting a 0.4% rise compared to the prior year. Saudi Aramco, ranked No. 4, once again led the list in profitability, posting a net income of $105 billion and securing its position as the most profitable company for the fourth consecutive year.
- The number of women serving as CEOs at Fortune Global 500 companies has reached a record high of 33, accounting for 6.6% of the total, which is an increase of five from the previous year. Notable leaders among them include Mary Barra of General Motors, recognized as Fortune’s 2025 Most Powerful Woman; Gail K. Boudreaux of Elevance Health; Jane Fraser of Citigroup; Sarah M. London of Centene; and Sandy Ran Xu of JD.com. The United States leads with 16 companies headed by women CEOs, followed by China with five, France with four, and both Brazil and the United Kingdom with two each.
Fortune Global 500 companies are located in 243 cities across 36 countries and territories around the world. The top five cities—Beijing, Tokyo, New York, Shanghai, and London—are home to nearly one-quarter of these companies. Notably, London has returned to the top five for the first time since 2022.
Nine companies debuted on the Fortune Global 500 list, including QNB Group (No. 419), Lithia Motors (No. 434), and ICICI Bank (India) (No. 464).
- You can find the complete Global 500 list in the August/September issue of Fortune magazine.
“The Fortune Global 500 showcases the fascinating changes and significant shifts occurring in the global business landscape each year,” said Fortune CEO Anastasia Nyrkovskaya. “It highlights the stories of the companies, products, and people that are propelling our world forward. We are excited to share this global list, now in its 36th year, with audiences that value its authority and credibility.”
In her foreword for the August/September 2025 issue, Alyson Shontell, Fortune’s Editor in Chief and Chief Content Officer, stated, “We have tracked the Fortune 500 and Fortune Global 500—the world’s largest companies by revenue—for decades.” She summarized this by saying, “Our latest Global 500, which reflects 2024 performance, is more than just a ranking. It represents the calm before the storm in a profound geopolitical shift driven by AI, ongoing conflicts, and tariff uncertainties, all of which are reshaping the landscape for the world’s largest companies.”
Companies are ranked on the Fortune Global 500 based on their total revenues for fiscal years that end on or before March 31, 2025. To be included in the list, all companies must publish financial data and report part or all of their figures to a government agency. The most recent statistics in the list are those reported by the companies themselves, and any comparisons are made with the figures from the previous year as reported initially. Fortune does not adjust last year’s figures to account for any changes in accounting.
Fortune is a global multi-platform media company known for its trusted and award-winning reporting and information, aimed at individuals seeking to improve business practices. As an independently owned entity, Fortune shares stories about the world’s largest companies and their leaders, as well as a new generation of innovators driving business progress.
Both digitally and in print, Fortune evaluates corporate performance using rigorous benchmarks, holding companies accountable across various regions worldwide. Its renowned rankings include the Fortune 500, Fortune Global 500, Most Powerful Women, and World’s Most Admired Companies.
Fortune also fosters exceptional communities by bringing together industry thought leaders for exclusive summits and conferences, such as the Fortune Global Forum, Brainstorm Tech, and Fortune Most Powerful Women.
Source: Fortune Media (USA) Corporation
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