With a combined revenue of $21 trillion and $2.1 trillion in profits, the 2026 Fortune 500 is the definitive list of America's largest companies.

Fortune 500

Almost $20 trillion in revenue—and a record-breaking $1.87 trillion in profits. Introducing the 2025 Fortune 500, the definitive list of the biggest companies in America.

The Fortune 500, in its 70th year in 2024, ranks the biggest U.S. companies by revenue.

The Fortune 500, in its 69th year in 2023, ranks the biggest U.S. companies by revenue.

This year’s Fortune 500 marks the 68th running of the list.

This year’s Fortune 500 marks the 67th running of the list.

This year's Fortune 500 marks the 66th running of the list.

This year's Fortune 500 marks the 65th running of the list.

This year's Fortune 500 marks the 64th running of the list.

This year's Fortune 500 marks the 63rd running of the list.

This year's Fortune 500 marks the 62nd running of the list.

This year's Fortune 500 marks the 61st running of the list. Wal-Mart claims the top spot again. See who made the list.

Wal-Mart stayed on top as its sales crept closer to half-a-trillion dollars. Apple moved into the top five. And UnitedHealth Group continued its steady climb. 

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The Guangdong–Hong Kong–Macao Greater Bay Area is the world’s largest continuous urban area—a megalopolis of 11 cities, 86 million people, and a $2 trillion economic engine. Its ambition is not simply scale, but integration: linking finance, advanced manufacturing, technology, research, logistics, and talent across jurisdictions and systems to strengthen China’s global economic competitiveness. The question for the next decade is whether greater connectivity can translate into more innovation, investment, and global reach—and how businesses and investors can navigate the practical frictions that remain. Can the GBA’s 11 cities operate not simply as neighbours, but as a genuinely connected innovation economy? And what would that mean for its global competitors and partners?

Edward Au, Southern Region Managing Partner, Deloitte China 
Mr Alex Che Weng Keong, President of the Board of Directors, Commerce and Investment Prom
Derek Zhang, Executive Editor, Fortune China 

The GBA Decade: Opportunity, Innovation, and Global Impact

Conferences

Thanks Lee. So this session will be Chinese, uh, Xie xie, Alex Xie Xie Xi. OK, thank you very much, Alex. So today we would like to talk about the policy making and from the external researchers' perspective, how do we read the Greater Bay Area. So for Greater Bay Area, the population is around 80 million something, uh, equals to the population of Germany and the total GDP reaches $2 trillion USD equals Italy. We compared to other Bay Area like in New York, or the Tokyo Bay Area, or the California Bay Area or San Francisco Bay Area. We need to ask us how we make our GBA a place a more innovative. So how could we make Um, use of our resources. And make it, put it into a big use and also to realize innovative. Industry, innovative area. So Alex, as a policymaker, how do you view GBA? So first of all, GDA here? Yeah. It's different from other Bay Area. I was, So there are 3 different currencies. Three different currencies. And this can be quite challenging, but a great opportunity. Let me give you an example. So because of the historical reason? Macau has great close relationship with the Portuguese speaking country. So in terms of promote trading with these countries and regions, Macau can play a vital role. And to promote The production resources circulation. So that is why Chinese government decided to set up a cooperation zone between Zhuhai and Macau. And Macau used to be an independent tariff area. How could we contribute more to the GBA area for innovation in the next 10 years? It needs a lot of production resources. So Hanxin, GBA and Macau collaboration zone play a very vital role role for the flow of capital to the flow of talent and flow of production elements. So this is very important and that matches with the national strategy. As a person working in Macau, I should say that Guangdong province, Macau and Hong Kong are different. The difference can play a vital advantage. So this vital advantage could be played if we work together as a team. So we believe that this, this power is amazing in the GBA. While in among, among the totally nice cities in GBA that Macau can play an important role. We will collaborate with all the other brother and sister cities. OK, sorry, it's not nice, 11 cities in GBA. Yes, we have the labor division, and we could work together to create the new booming engine for the economic growth. Yes, so let's have an example. For example, last year, we have a war intellectual intellectual property organization. I got a report that. The report is telling people that about 76,000, 76,000 enterprises with all the levels, the state level, provincial level, city level, innovation enterprises, and they are located in totally 11 cities in GPA, 76,000 innovative and tech companies. So we need the innovation, we need the collaboration as well. Then if we could work like that, then we will work like a big team, and it will be a world-class, a world-class innovation hub. So for the GPA coming 10 years, The key thing is not we separate, is not we build the city alone. No, we like to work together as a team to build up a new operation system, a new OS. Shenzhen, Guangzhou, Hong Kong, Macau. We could have a clear labor division. And then we can work as the engine for the whole GPA. Then we have, we could develop some standard criteria and for Zhongguan and Zhongsan, etc. They could work like a medium, like a medium hub, medium laboratory that's focusing on the engineering, etc. And also, Macau, for example, Hong Qingzhong between Macau and Shanghai, it could be a very big region for the TCM, traditional Chinese medicines R&D center, and also the data technology. Especially to develop for the Portuguese market. So by this way, that every city in this GPA region has its own role and everybody is a strong member of this big team. And the United laboratory. This can work as a huge platform to integrate the resources from 76,000 tech companies. The United laboratory could work as the united platform for inspection and testing commissioned. Such kinds of the big layout will be amazing in the world. While talking about China, Macau, huh, we also developed like uh the third 5-year plan to adapt to the 5-year plan in the mainland China. So, Macau, we have our own 5-year plan. When we have a goal. The goal is that in the coming 30 years, we got to improve the proportion of non-gambling business up to 60% within the GP or the GDP of the city. So as Alice just now mentioned that we need the support from the government in terms of policy planning, and also we need the industry's engagement, and also we need the participants of our citizens. So this is a localized layout, a localized business plan. So Macau, now we already formulated a big framework. So the next job is how to implement this policy. In the past that we focused more, I mean 90% of the resources allocated to the gambling industry. But in the next 35-year plans periods that Macau gov, not only the government but also the industry and the citizens will shift our eyes to the non-gambling business. And for example, for the emerging industry, Macau government invests 130 billion bucks. To invest the emerging industry including the the innovative TCM. The science technology, the data technology, etc. Macau, we have an independent, uh, legislative body. It's independent one, responsible for the development of our policy, laws and laws, and regulations. And it also, Macau also we have the independent regulatory. Unity. So that's different to the mainland China and Macau we have the independent legislative system, uh, regulatory system, and a large amount of investment bodies. So this is a little bit different to the mainland China's systems. So investors also we have a strong confidence in Macau because of our operation system, because of our confidence of a decision decisiveness. So for example, Macau now investing a lot of money to build up the industry park, university, R&D center, institution, etc. So this year, more than 20 billion bucks, these kinds of the funds already introduced to build up the new laboratory. And this could be comparable to Hong Kong and Singapore. What we hope is that through this opportunity that we want to invite people come to Macau to to get more understanding to this city, to know that what we have, to know what the advantage we have. And what kinds of the room that we could develop in perspective of the new emerging industries. So whatever in the macro or in the micro level, that Macau is making the efforts to develop the new economics. So, By one time for 2 years, we do the investigation of market and, and we collect the data, do the analysis, and we find out that which industry have a good growth. And in 2025, life size ranked number one last year, and semiconductor ranked number 2. And the cleaning technology, for example, ranked number 3. So that in this industries, a lot of the investors, they earn a lot. The ROI is quite satisfactory. So before that uh people don't know, I mean the shareholders of the entertainment company or uh a casino company, they don't know where to invest. They earn money and then reinvest into the gambling industry. But now we have more space to grow. For example, the bio biochemistry, bioscience, semiconductor, science, technology, new energy, car making, etc. So all this industry and what when they develop in mainland China, and also they come to Hong Kong to do IPO and then, They, they come to Macau to do the IPO. And all this, you know, that through the IPO in, in Hong Kong, in Macau and Singapore, etc. we got the funds to support R&D and then they could have a strong funds to support them when they go global. And it's become a globalized enterprise group. So this is very good cycle, a very good ecosystem, right? Yeah, as mentioned by Alice that, Uh, we have a complete and good framework of the legislation, and we have the interconnection to mainland China in terms of their finance and fintech, etc. So that Macau, we have a good platform for the innovation and creativity. GBA, this is a huge market containing 11 cities. So that we would like to call the interest of the partners in worldwide. So take Macau as the gateway to step into the GBA and the mainland China. So for the capital investors, this is a very good window to understand the New development space in GBA and the whole China. While Macau in order to bring more opportunities to the investors, also we already completed the stock systems connection. And the bond connection, etc. So that's to make sure the circulation channel are open to the investors. So for AI technology, etc. many finance enterprises or high-tech enterprises, when they come to Macau, they will feel comfortable. Because that's Macau, we have to complete the legislative framework to guarantee the safety, the security of their business data. So whatever they're doing the flash science, biochemistry or etc. that they should, they should release their worry because that Macau government want to protect their benefits, protect their interests. And we know that Hong Kong, there is a bound area, a bound area. The bound area is in between Hong Kong and Shenzhen. It's a new high-tech zone. That new hi-tech zone is especially designed for the two cities to put their energy there to develop the high-tech. So this is called a pond that's along with the two sides of the Shenzhen River. So this is an innovative one, an innovative zone for the technical experiments. So, in Shenzhen Industry Park, we do the innovation and also that we also go to the bound zone because the bound zone, the negative negative place, this is circulated. To have the clear illustration for what would be OK for the enterprises to engage. So this kind of behavior is very important for the GPA. Not only the government but also the enterprises to develop. So not only the bond in between Shenzhen and Hong Kong, but also the Hengqin zone in between Macau and Zhuhai. So we could play our unique advantage to call the attention. From the global tech company or science company come here to do the R&D and then to put the production facilities in mainland China to enjoy the low cost of the labor, low cost of the office facilities, etc. then the enterprise, newly established enterprises could have a better growth. So also only in Hong Kong and Macau, etc. Also a lot of the uh data center being established. And also some of them professionally run the data for the overseas partners. And this also offered the opportunity for Macau. Because this is a good one, right? So, also the central government and Macau regional government. Already have the common understanding that Macau needs to diversify as business, not just rely on the gambling or the casino only, but also versatilize, versatilize the business to make it worse, make it diversify, right? So as we also talked today, that we also could use Macau as a good platform to do the R&D, then the product development, especially for the Patuki market because Macau have a strong and long term ties with the Patuki market. So in In April or May, the time that the chief executive of Macau led a big delegation containing 120 enterprises traveled to Portugal, and then we signed over 106 cooperation agreements and with the total amount over $300 million 300 million dollars US dollars. And at the time we we we will visit the president and also the premier, as well as the head of the Legislative council and the Supreme Court. What does it mean? It means that Macau and Portugal still would like to further to strengthen our cooperation. So these kinds of cooperation is very significant for Macau to acquire a new generation growth in economics. So the cooperation in science and technology together with not only Portugal but the other countries would help Macau to develop the non-casino business. So in the future that we're going to witness the happening of the new business growth in Macau, not just the casino, but also more business. And Macau's legislative system also similar to Portugal's to Portugal and the other European countries and regions. There's another advantage. OK, so looking into the future, next 10 years, so if we can reach the imaginative connection of the deeply integrated Greater Bay Area. So to the global partners, when they talk about Macau, what do you want them to talk about Macau? What keywords do you want them to put on Macau? Well, for GBA I think that innovation, but whether we can be an international Bay Area. We need more international impact. So we sail around the world. Yes, but whether we can have the international influential power, especially for Macau, for Macau, today we are in a great facility. The hospitality of Macau is top in the world. We are the world tourism city. But if that is not a world tourism city, but a world commercial city. Is Macau still a top commercial city? When you think about make exhibition, make conference, do you think Macau is the first choice? Yes, here we have a lot of events and we would like to thank Fortune for selecting Macau as a place for leaders forum. But will more people think Macau as the first choice for convention and exhibition. I think that Macau still needs more employment to the next generation. Yeah, yeah, I think that to attract more talent, you need to provide them with decent job. So that is important. So if that is 2030, when we look back, do you think you are successful, Advan? Wow. So 2030 or 2035, when I look back. Well, I think that if a young entrepreneur will say, I'm from Macau, I'm rather from Shenzhen, so that means Macau is successful. And also Macau should be different, right? Right now people think Shenzhen is innovative, but Macau also needs to be innovative, and this city should be replicable compared to others. We should have something unique. OK, as a policymaker, I think you also have something to say. Yeah, we work together with the motherland. So 10 years later in 2036 or 2035, so firstly, I hope that when you come to Macau, not just for exhibition or conference, you have business to do here and we can include Henching area into Macau. Not just think about Macau, but also Henching and Macau. So Henqing corporate. Uh, cooperative zone should have more opportunities. OK, McKenzie has a prediction, have a forecast said by 2030, the economic output should reach around the 3.6 to $4 trillion. To the economic scale of Germany. Right now, the population equals Germany, but GDP if we can equal to the GDP of Germany, that will be a very ambitious goal because Germany is the biggest economy in Europe. So if Macau would like to be a technology innovation center, that would be an ambitious goal. And we need to become a real economy with innovation, with the scale, with uniqueness. OK, thank you. Thank you.

OpenAI’s new Astra model is making waves, but questions about access and regulation are splitting Silicon Valley. In this episode of Fortune Daily, host Ellie Austin is joined by Fortune AI Editor Jeremy Khan to break down the fight over AI guardrails and what a "smart" rulebook actually looks like.
Plus, Kamal Ahmed previews next week’s United Nations General Assembly, and Diane Brady explores how humanoid robots are transforming the world of logistics in 'The Future of Work.'

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