The Fortune Global 500 ranks the world’s biggest companies by revenue. Walmart tops the latest list for a 12th straight year, followed by Amazon and China’s State Grid. Together the 500 companies earned $41.7 trillion — more than a third of world GDP.
Fortune Global 500: the biggest companies by revenue
The Fortune Global 500 is the best-known ranking of the world’s largest corporations, measured by total revenue rather than profit or market value. In the most recent edition, the US retailer Walmart leads the world, ahead of Amazon and a group of Chinese state-owned energy giants.
| Rank | Company | Country | Revenue (USD bn) |
|---|---|---|---|
| 1 | Walmart | USA | 681.0 |
| 2 | Amazon | USA | 638.0 |
| 3 | State Grid | China | 548.4 |
| 4 | Saudi Aramco | Saudi Arabia | 480.2 |
| 5 | China National Petroleum | China | 412.6 |
| 6 | Sinopec | China | 407.5 |
| 7 | UnitedHealth Group | USA | 400.3 |
| 8 | Apple | USA | 391.0 |
| 9 | CVS Health | USA | 372.8 |
| 10 | Berkshire Hathaway | USA | 371.4 |
Source: Fortune Global 500, latest edition (FY2024 revenue).
What the ranking reveals
The list is a snapshot of global economic power. The 500 companies together earned $41.7 trillion in revenue and employed more than 70 million people — their combined sales equal more than a third of world GDP (Fortune). The United States and China dominate: 138 of the 500 are American and 130 are from Greater China, and for the first time in years US firms outnumber Chinese ones (CSIS). Walmart has now been the world’s largest company by revenue for 12 straight years.
Key takeaways
- The Fortune Global 500 ranks the world’s biggest companies by revenue.
- Walmart is number one for a 12th consecutive year, ahead of Amazon and State Grid.
- The 500 companies earned $41.7 trillion — over a third of world GDP.
- The US (138 firms) narrowly outnumbers Greater China (130).
Frequently asked questions
What is the Fortune Global 500?
An annual ranking by Fortune magazine of the world’s 500 largest companies by total revenue. It measures sales, not profit or market value, so retailers and energy firms often rank higher than more valuable tech companies.
What is the biggest company in the world by revenue?
Walmart, the US retailer, with revenue of about $681 billion. It has topped the Fortune Global 500 for 12 straight years, ahead of Amazon and China’s State Grid.
Does the US or China have more Global 500 companies?
The United States, with 138 companies on the latest list, narrowly ahead of Greater China’s 130. The two countries together account for more than half of the entire ranking.
Sources
- Fortune Global 500 (ranking) — retrieved 2026-07-05 — fortune.com
- Fortune, 2025 Global 500 announcement — retrieved 2026-07-05 — fortunemedia.mediaroom.com
- CSIS, US firms overtake China’s in Fortune Global 500 — retrieved 2026-07-05 — csis.org
Last updated: July 4, 2026
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