Fortune 500 list: The top 10 companies ranking

Today, a new cast of characters are dominating. In 2023, Chevron secured the 10th spot on the list, bumping off drugmaker Cencora, after the oil company recorded $36.5 billion in profits last year.

Here are the top 10 companies from the Fortune 500 list in 2023. Our 2024 list will launch in June. 

1. Walmart

Walmart raked in over $611 billion in revenue last year to secure the first spot for 11 straight years. The company recently completed a $2.3 billion acquisition of TV maker Vizio, a move that experts say will help the company advertise to customers. 

The company, headquartered in Arkansas, is run by CEO Doug McMillon and employs over 1.6 million people.   

The company also bought entrepreneur Marc Lore’s startup, Jet.com, for $3.3 billion in 2016 and is running a pilot of Lore’s latest company, a restaurant concept called Wonder, in one of their supercenters. Walmart plans to open two to three more of Lore’s restaurants in their retail chains this year.

As one of several retailers, like Target and Home Depot, to report sales losses due to “shrink,” or inventory loss that includes theft, Walmart has recently posted limitations on self-checkout lines to alleviate shoplifting, which accounted for over $112 billion in industry losses in 2022, according to the National Retail Federation. 

2. Amazon

Amazon, with a yearly revenue of nearly $514 billion, holds the number two spot on the list for the fourth year. 

Run by CEO Andy Jassy, the ecommerce giant also offers cloud services and digital advertising along with streaming platforms like Fire TV and Amazon Prime Video. It employs about 1.5 million people. The company has two headquarters in Seattle and Arlington.

Amazon has…