Friday, June 9, 2017

Latest Fortune 500 List Contains 53 California Companies

The well-known "Fortune 500" is a list of 500 of the nation's top companies, published each year in a list by Fortune Magazine. The companies are those that bring in the most revenue and show the highest profits, which means they are likely to do well in the coming year. Basically, they are the 500 best companies on the market in a given year. Many, especially in recent years, are tech companies, and some have even been on the list for many years, even decades in some cases. According to Makeda Easter's L.A. Times article, of the 500 companies, 53 are based in California.

While California is not the number one state in regard to their number of Fortune 500 companies, California falls in a close second behind New York's 54 companies. The remaining 400 or so companies have headquarters spread throughout the rest of the country. California has two companies ranking in the top 10 of the Fortune 500 list: Apple is in third and McKesson Corp. is fifth. Trends show that California's biggest earners are technology companies and pharmaceutical/biotech companies.

Even with some companies having difficulties with slowing sales or scandals within their board of directors, California companies still improved quite a bit this year. Chevron came in 19th place on the list and Wells Fargo unexpectedly rose to 25th place, even after recent bad publicity. In Los Angeles specifically, construction company Aecom was in 161st place, real estate firm CBRE Group was in 214th, and Reliance Steel & Aluminum Co. placed 320th.

The percentage of companies with women CEOs that make it onto the Fortune 500 list is very small, only about 6.4% of the 500 companies. However, of the 32 companies on the list with women CEOs, 7 of those companies are based in California. Apple Inc., which is based in Cupertino, California, made the largest profit this year, at approximately $46 billion, but Wal-Mart still holds the number one spot on the Fortune 500 list based on revenue alone. Approximately two-thirds of the US's total GDP come from the 500 companies on the list. If trends continue as they have been, California's companies could end up being the most valuable on the list in time.

Find out more about us at Any Questions? Contact our Escrow Expert! Sepulveda Escrow Corporation (818) 838-1831. Follow our company on FacebookTwitterLinkedIn, and Google+.

No comments:

Post a Comment