Landing on the Fortune 500 is a pie-in-the-sky dream of many business owners. The most profitable U.S. companies that make up the latest list collectively employ 27.9 million individuals across the world and represent $840 billion in profits and $12 trillion in revenues. Who are these business dynamos and where are many of them based?
The Top 10
In June 2016, Fortune magazine took a look at 2015’s top moneymakers, most of which are household names. The No. 1 spot goes to the Arkansas-based big-box retailer Wal-Mart, followed by oil and gas giant Exxon Mobil, tech innovator Apple, insurance and investment outfit Berkshire Hathaway, and pharmaceutical distributor McKesson. Health care companies, auto manufacturers and a communications company round out the top 10.
Hot Areas for Headquarters
Many Fortune 500 company headquarters are on the East Coast — from Comcast (No. 37) in Philadelphia, Pennsylvania; to JetBlue Airlines (No. 405) in Long Island City, New York; to General Electric (No. 11) in Fairfield, Connecticut.
The Midwest also houses several successful centers of operation, including Motorola Solutions (No. 451) in Schaumburg, Illinois; Harley-Davidson (No. 432) in Milwaukee, Wisconsin; and Dow Chemical (No. 56) in Midland, Michigan.
How States Rank for Business
Knowing where a state ranks on business matters and understanding their differing approaches to incentives, tax rates and more may narrow down where to move next, even if a job isn’t waiting for you upon arrival. According to Chief Executive magazine’s “Best and Worst States for Business,” Texas is the most beneficial, pro-growth spot for business owners, while California ranks lowest.