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Fortune's 2025 Global 500: An Overview

In an annual tradition, Fortune has released its highly anticipated 2025 Fortune Global 500 list, a ranking that identifies the largest companies worldwide based on revenue. The edition for 2025, covering the fiscal year of 2024, showcases some fascinating insights and trends within the corporate landscape.

Walmart Stands Tall

This year, Walmart continues its reign as the top company on the list for the twelfth consecutive year. With a remarkable commitment to vast distribution networks and customer service, Walmart has maintained its prominent position among global corporations. Following Walmart, the mega e-commerce giant Amazon secures the second spot, exemplifying the robust consumer demand and digital innovation in retail.

The top five of the Fortune Global 500 list is rounded out by several other notable players:
1. Walmart (U.S.)
2. Amazon.com (U.S.)
3. State Grid (China)
4. Saudi Aramco (Saudi Arabia)
5. China National Petroleum (China)

The combined revenue of the top ten companies alone surpassed $370 billion, indicating a significant contribution to the global economy.

A Shift in Corporate Power

The dominance of U.S. companies continues, with a total of 138 firms making the list. In contrast, Greater China has seen a slight decline, now accounting for 130 companies, down from the previous year's count. Notably, while the U.S. holds eight positions in the top ten, China retains its powerful entities led by state-owned organizations.

Record-Breaking Revenues

The total revenue generated by the companies within the 2025 Fortune Global 500 reaches an astounding $41.7 trillion, which marks a 1.8% increase from last year. Additionally, the collective profit of these companies stands at nearly $2.98 trillion, slightly up by 0.4% from the previous year. Saudi Aramco stands out as the most profitable company on the list, posting a net income of $105 billion—a feat it has repeated for four consecutive years.

The Rise of Women Leaders

In a significant breakthrough for gender representation in business leadership, the number of women CEOs has surged to 33, making up 6.6% of the total. This marks an increase of five leaders from the previous year, a clear indicator of the shifting dynamics in corporate governance. Noteworthy names include Mary Barra from GM, who has been recognized as Fortune’s Most Powerful Woman, along with executives like Gail K. Boudreaux from Elevance Health and Jane Fraser of Citigroup.

Key Sectors and Employment Trends

The financial sector holds its ground, featuring 121 companies, while energy, automotive, and healthcare follow closely. These sectors represent more than 60% of the entire list and account for approximately 66% of total revenues generated. As per the latest data, the companies listed employ 70.1 million people globally, signifying their critical role in job creation.

Featured Cities

Fascinatingly, the Fortune Global 500 companies are scattered across 243 cities and 36 countries, with top urban centers including Beijing, Tokyo, New York, Shanghai, and London. London has made a return to the top five after a brief absence, infusing fresh competition into the global business arena.

New Entrants

This year, the list also welcomes nine debuting companies, including QNB Group and ICICI Bank, showcasing the dynamism and changing conditions within the global economic environment.

Conclusion: A New Era in Global Business

According to Anastasia Nyrkovskaya, CEO of Fortune, the 2025 Global 500 demonstrates not just rankings but also a deeper narrative of shifts within the corporate world as various external factors reshape it. As we observe these developments, it's clear that the interaction between geopolitical dynamics, technology advancements, and market competition continues to influence the trajectory of these leading organizations.

For further insights, the complete Global 500 details will be featured in the August/September issue of Fortune. Stay tuned for more updates as we watch how these titans adapt to new challenges and opportunities in the coming year.