Where are the headquarters of the world’s biggest companies? A few global cities are major corporate magnets

Nicolas RappBy Nicolas RappInformation Graphics Director
Nicolas RappInformation Graphics Director

Nicolas Rapp is the former information graphics director at Fortune.

Matthew HeimerBy Matthew HeimerExecutive Editor, Features
Matthew HeimerExecutive Editor, Features

Matt Heimer oversees Fortune's longform storytelling in digital and print and is the editorial coordinator of Fortune magazine. He is also a co-chair of the Fortune Global Forum and the lead editor of Fortune's annual Change the World list.

In the galaxy of cities that host corporate headquarters, Beijing is the biggest star. A stunning 15% of revenue generated by the Global 500 last year—$6.1 trillion—went to companies based in China’s capital. That enormous sum underscores how China’s growing corporate power is concentrated in just a few cities. Companies based in Beijing, Shanghai, and Shenzhen account for 69% of the revenue of mainland China’s Global 500 roster. By contrast, the top three U.S. metros—New York, San Jose, and Dallas—account for only 27% of revenue from America’s Global 500 ranks. Of course, the U.S. has practiced capitalism for much longer than China has; the geographic dispersal may signal the degree to which big-company culture has become the American norm.

This article appears in the August/September 2023 issue of Fortune with the headline, “If you can make it there…”

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