Name: Fortune 500 CEOs React To Making The List
Uploaded: 2024-06-03
Duration: 5 min 50 s
Description: Watch as we explore the evolution of the Fortune 500 over the past 70 years.

Watch as we explore the evolution of the Fortune 500 over the past 70 years. 

Fortune 500 CEOs React To Making The List

Franchise_Lists

Priscilla, we are celebrating the 70th anniversary of the Fortune 500 this year. What does it mean to you that Fannie Mae is on the Fortune 500. It means that we have a responsibility. We play a very large role in the economy being on the Fortune 500 list. It's a responsibility to do our job well, to build the trust of the US consumer and to run the company safely and soundly so that we're there in good times and in bad times, I think it is quite an honor to know that we serve a small part of the USA very important part of the US. But the loyalty that our members have granted to us give us the depth and breadth to be qualified as one of the largest, you know, companies in America. We are truly honored. We're humbled. We're blessed to be part of the Fortune 500 list. It's a huge milestone for us as a company and we are super excited to join more than 60% of the Fortune 500 who are already our customers on your list. Fortune 500 is a very comprehensive grouping of companies based on their revenues that represents kind of their weight in the economy based on how much they're selling, how much oil, fuel, oil they're selling, how many products they're making and selling how many services they're providing. And number one is Walmart. But then you've got Amazon and United Healthcare and mainly services companies that are dominating the list. At this point. It was first published in 1955 in those days. The 500 had a quite a different definition than it does today. Originally, it was all companies that made something GM was number one. Ge was in the top 10. There were several oil companies including Exxon and Mobile and Golf that were all in the top 10. So this is a very, very different list than the extremely tech and health care heavy uh listings that we see today at the very top. But I actually don't think of myself in running a Fortune 500 company. I think of this job and the role that I have and basically building the legacy that I inherited. And we've been around for over 100 and 40 years. I recognize that I stand on a lot of people's shoulders out there and I feel a tremendous sense of obligation when I was at college. Uh you know, there weren't that many different magazines, you know, there was Time magazine, Fortune Magazine and I particularly was interested in your list of 500 largest companies in the world and I'm old enough to remember when GM became a big deal because they were the 1st $1 billion sales company. I found it informative. So, I mean, I don't want to overdo it, but it has been a very positive thing. Of course, the tech companies weren't included on the list uh much in 1955. There were a few giants like IBM that were getting started and, and, and taking off. But basically, they've taken over the list to the point where the most valuable companies are now the apples, the NVIDIA is essentially the magnificent seven that we keep on hearing about that have taken over such a gigantic waiting in the overall list. Certainly, one of the great trends on the list is the rise of female CEO S to have 50 women on the list, which is 10% of the total is an extraordinary achievement. Of course, it's still much, much too low, but it's certainly moving the right way. When you became Ceo of Land O Lakes. In 2018, you became the first openly gay female CEO in the Fortune 500. Karen is a cover of our Fortune 500 issue because CBS Health is the number 11 Global 500 company in the world. No woman has ever run a company anywhere remotely the size of CBS. We're talking over $300 billion in revenue. Um running uh something like CV sl we have purpose and that's really kind of what gets all of us um going every day because we have the purpose of really improving the health of all Americans. And we also have a big change. Now, there are eight Black Ceo S Running Fortune 500 companies in 1955 there were zero. So the first Great Great Lift was the Fortune 500 it's got tons of offspring, many of which were launched by Fortune as well. But it's clearly a great honor. It's a recognition of being an important company in the world and not only the Fortune 500 but best companies to work for and innovation. Because for us trust and innovation, what we do is all part of our story, Fortune 500 is one of the great great brand names in the whole business world. And you get a lot of attention, the higher you are on the list, the more prestigious. It is when I mention that I work for Fortune, whether the person I'm speaking to has any connection to business at all. They usually say, ah yeah, Fortune 500 which goes to show the strength and the breadth of that brand. I'm very proud of it. I'm proud of the work that we do at Fannie Mae to be there to lead a group of employees so dedicated to what we do every day. And if I could be an inspiration to other young women or young people of color. That's, that's, that's significant to me.