Overview
- Fortune’s June 3 list put Amazon at No. 1 after the company surpassed $700 billion in fiscal 2025 revenue, a roughly 12% year‑over‑year increase that pushed it past Walmart.
- Walmart slipped to No. 2 for the first time since 2012 as Amazon’s faster revenue growth closed a narrow gap between the two retail giants.
- Nvidia climbed to No. 16 and became the first Fortune 500 company worth more than $4 trillion, while Alphabet recorded a record $132 billion in profits and remained the most profitable company on the list.
- Amazon’s rise reflects multiple business engines rather than a single line of business, with AWS accelerating, advertising growing, and the company reporting $181.5 billion in Q1 2026 revenue with strong cloud momentum.
- The 2026 Fortune 500 set records for aggregate scale—$21.0 trillion in revenues, $2.1 trillion in profits, $55 trillion in market value—and recorded a high point for female leadership with 55 women CEOs while raising questions about concentrated corporate power and its effects on competition, workers and policy.