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What Is the Fortune 100?
Let me explain the Fortune 100 directly: it's the top 100 companies in the United States, drawn from the Fortune 500 list, which Fortune magazine publishes each year. This list covers the 500 largest public and privately held US companies based on their annual revenues.
Fortune compiles this ranking by looking at companies that report their revenue figures to government agencies. I want you to know that the Fortune 100 specifically focuses on total revenues from each company's fiscal year, making it a straightforward measure of financial scale.
Key Takeaways
You should remember that the Fortune 100 is essentially the elite group within the larger Fortune 500, which has been ranking companies by reported revenues since 1955. In 1994, the criteria broadened to include a wider variety of sectors, moving beyond just industrial ones.
Lately, you'll see a lot of tech, energy, and healthcare firms in the top 100. Giants like Amazon and Walmart consistently appear in the top 10, even as their exact positions might shift slightly from year to year.
Understanding the Fortune 100
Fortune magazine first released the Fortune 500 in 1955, and it's been an annual tradition ever since, highlighting the top 500 companies by revenue. The Fortune 100 is what I call an unofficial subset of that list, focusing on the very top performers.
Just to be clear, this isn't the same as Fortune's '100 Best Companies to Work For'—that's a completely different ranking based on employee feedback. Back in 1955, General Motors topped the list with $9.82 billion in revenue, holding that spot for over 30 years.
The rest of the top 10 that year included Exxon Mobil at $5.66 billion, U.S. Steel at $3.25 billion, General Electric at $2.96 billion, Esmark at $2.51 billion, Chrysler at $2.07 billion, Armour at $2.06 billion, Gulf Oil at $1.71 billion, Mobil at $1.70 billion, and DuPont at $1.69 billion. Fortune includes all public and private companies that file financial statements with the government and are incorporated and operating in the US.
Requirements for the Fortune 100
Initially, from 1955 to 1994, the Fortune 100—again, part of the Fortune 500—was limited to companies in manufacturing, mining, and energy. This excluded many high-earners in other areas, though Fortune did release separate top 50 lists for sectors like banks, utilities, insurance, retailers, and transportation.
In 1994, things changed when Fortune started including service companies, which brought in many new entrants and raised the revenue bar for making the list. Keep in mind, the Fortune 500 doesn't cover foreign companies, even if US-listed ones have big international operations. For example, Walmart, which entered after 1994, hit #1 in 2018 with $500.34 billion and has been a top 10 staple since.
2024 Fortune 100 Top 10
- Walmart
- Amazon
- Apple
- UnitedHealth Group
- Berkshire Hathaway
- CVS Health
- Exxon Mobil
- Alphabet
- McKesson
- Cencora
How Are the Fortune 100 and Fortune 500 Different?
The Fortune 100 is simply the top slice of the Fortune 500, ranking the largest US public and private companies by revenue. These are firms that operate in the US and report to federal agencies. Before 1994, it was restricted to mining, manufacturing, and energy, but now it includes services too.
What Is the History of the Fortune 100?
Fortune kicked off the Fortune 500 in 1955, with General Motors leading at over $9.8 billion—a position it kept for three decades. Many of that era's top companies, like Chrysler, Exxon, and DuPont, are still around today.
What Is the Difference Between Fortune 500 and Fortune 100 Best Companies to Work For?
The Fortune 500 is all about revenue rankings for US companies. In contrast, the Fortune 100 Best Companies to Work For comes from employee surveys on trust, potential, leadership, and more. To qualify, companies need at least 1,000 employees, and government agencies are out.
The Bottom Line
In summary, the Fortune 100 is the top 100 from the Fortune 500, ranking American companies by annual revenue. Landing on this list is a major achievement, and climbing the ranks signals strong growth. Many of these companies also feature in the S&P 500 index.
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