Amazon tops the list, ending Walmart's 12-year reign at No. 1

U.S. companies hit 18-year high, leading the world with 141 firms

Women CEOs reach record 34 on Fortune Global 500, rising to 6.8% representation

The "Magnificent Seven" generate $2.3 trillion in revenue and $608 billion in profits in 2025

Amazon founder Jeff Bezos featured on Fortune cover in exclusive in-depth story

NEW YORK, July 28, 2026 /PRNewswire/ -- Today, Fortune released the 2026 Fortune Global 500(™), the definitive list of the world's largest corporations ranked by revenue for the 2025 fiscal year.

Amazon is No. 1 this year, ending Walmart's 12-year run in the top spot, followed by State Grid, UnitedHealth Group, and Saudi Aramco. Amazon eclipsed the $700 billion mark with a 12% jump in revenue in 2025 and claimed the title of "biggest company in the world by revenue."

This year's Fortune Global 500 marks the 37th running of the list and saw record numbers in aggregate revenue and profits (unadjusted for inflation). In total, the Fortune Global 500 companies represent two-thirds of the World's GDP with $43.1 trillion (up 3%) in revenues, $3.4 trillion (up 14%) in profits, and employ 70.2 million people worldwide. The top 50 companies alone account for 33% of total revenue and 39% of total profits, while the top 100 account for 47% and 53% respectively, underscoring how concentrated global corporate power is at the top.

THE 2026 FORTUNE GLOBAL 500 TOP 10 LIST:

Amazon.com (U.S.)
Walmart (U.S.)
State Grid (China)
UnitedHealth Group (U.S.)
Saudi Aramco (Saudi Arabia)
Apple (U.S.)
McKesson (U.S.)
Alphabet (U.S.)
CVS Health (U.S.)
China National Petroleum (China)

The U.S. presence on the Fortune Global 500 reached its highest level since 2008, with 141 companies (up three from last year), the most of any country. U.S. companies generated $15.5 trillion in aggregate revenues, a 6% increase from last year. Greater China--comprised of mainland China, Hong Kong, Macau, and Taiwan--ranked second with 122 companies, down eight from last year and marking its lowest count since 2018.

The Fortune Global 500 companies are based in 242 cities and 36 countries/territories around the world. The top five cities -- Beijing, Tokyo, New York, London, and Paris -- serve as home base to almost one-quarter of the Fortune Global 500 companies. Paris jumped back into the top five for the first time since 2021. Czech Republic's EP Group marks the country's first-ever representative on the Fortune Global 500, and there are 14 countries and territories with only one company on the list, including Austria, Czech Republic, Poland, Qatar, Saudi Arabia, and Thailand, among others.

The number of women CEOs at Fortune Global 500 companies reached a record high of 34 (6.8%), up one from the previous year. Notable leaders include Fortune's 2026 Most Powerful Woman, Jane Fraser of Citigroup; Gail K. Boudreaux of Elevance Health; Sarah M. London of Centene; Meg O'Neill of BP; Mary Barra of General Motors, and Sandy Ran Xu of JD.com. The U.S. leads with 16 companies headed by women CEOs, followed by France with six, China with three, and Brazil, Germany and the U.K. with two each.

Technology is the standout growth sector: 38 companies (up four from last year), revenues rising more than 20% to about $4 trillion, and profits climbing 36% to roughly $835 billion. Alphabet has taken over as the most profitable company in the world, earning $132 billion in profit, making it the second-highest profit figure ever recorded for a Fortune Global 500 company. Four Fortune Global 500 companies, all based in the U.S. (Alphabet, Nvidia, Apple, and Microsoft), each netted at least $100 billion in profits in 2025, reflecting the strength of American tech. Taken together, Alphabet (No. 8), Apple (No. 6), Microsoft (No. 18), Nvidia (No. 28), and Meta (No. 30) generated $527 billion in net income.

Still, the financial sector continues to be the single biggest sector with 123 companies on the list, followed by energy (77), technology (38), motor vehicles and parts (35), and healthcare (31). They account for 61% of the companies on the list and 66% of total revenue generated.

The "Magnificent Seven" posted record aggregate revenue ($2.3 trillion) and profits ($608 billion) last year. Collectively, Amazon (No. 1), Apple (No. 6), Alphabet (No. 8), Microsoft (No. 18), Nvidia (No. 28), Meta Platforms (No. 30), and Tesla (No. 116) brought in $608 billion in net income.

There were 24 newcomers to this year's Fortune Global 500, including 13 companies that made their debut, and 11 companies returning to the list after at least a one-year hiatus from the list. First-time entrants include EP Group (No. 179), Galaxy Digital (No. 244), WT Microelectronics (No. 431), Advanced Micro Devices (No. 478), and Coupang (No. 479).

The complete list is online here and in print on newsstands on August 18.

In her foreword to the August/September 2026 issue, Alyson Shontell, Fortune's Editor in Chief and Chief Content Officer explains, "Across global business, we see again and again that the leaders who are winning are those who embrace change." She adds, "Amazon has topped the Fortune Global 500, knocking Walmart off its pedestal. The company has continually reinvented itself across new businesses and bold bets--including a $200 billion capital commitment, largely to building its capacity for AI and cloud computing, in this year alone."

Amazon's Executive Chair Jeff Bezos is the cover subject of Fortune's August/September 2026 issue, which includes an exclusive in-depth feature by Fortune's Kristin Stoller on Bezos and his company founded in 1995.

Companies are ranked on the Fortune Global 500 by total revenues for their respective fiscal years ending on or before March 31, 2026. All companies on the list must publish financial data and report part or all of their figures to a government agency. The latest figures in the list are as reported by the companies; any comparisons are with the prior year's figures as originally reported. Fortune does not restate the previous year's figures for changes in accounting. The full methodology is available here.

About Fortune:
Fortune is the premier global media company for global business leaders, built on a 96-year-old legacy of trusted, award-winning journalism. Independently owned, Fortune tells the story of business, spanning legacy companies to the world's new generation of innovators. Fortune measures corporate performance through rigorous benchmarks, and holds companies accountable, in regions around the world. Its iconic rankings include Fortune 500, Fortune Global 500, Most Powerful Women, and World's Most Admired Companies. Fortune builds world-class communities by convening industry thought leaders for exclusive summits and conferences, including the Fortune Global Forum, Fortune Brainstorm Tech, and Fortune Most Powerful Women. For more information, visit fortune.com.

Media Contacts:

Patrick Reilly
Fortune
Patrick.Reilly@fortune.com

Chelsea Hudson
Fortune
Chelsea.Hudson@fortune.com

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