Fortune 500 is an annual list of the largest 500 American companies ranked according to total revenues in their respective fiscal years.
2021 marked the 67th edition of Fortune 500 published by Fortune Magazine, recording a total of $13.8 trillion in revenue– about two-thirds of the US economy. Apart from having a sneak peek of America’s top 500 companies, the list also gives detailed information and breaks down the list based on the company’s profitability, growth, size, and even measure up initiatives on diversity, equity, and inclusion.
Essentially, Fortune 500 gives a snapshot of the companies and the industries that may contribute to the US economy or the world. For young professionals building their career and for international students eyeing the US as their study destination, this list offers valuable insights.
Though there are companies that are expected and have been consistently making it to the Fortune 500 list like Apple, Chevron Corp., Exxon Mobil, Ford Motor, General Motors, Wal-Mart Stores Inc., and Verizon Communications, there are also newcomers in the Fortune 500 2021 that showed remarkable revenues last year. Here are some of them:
Carrier Global. Palm-Beach headquartered Carrier Global is a world-leading provider of healthy, safe, and sustainable building and cold chain solutions. The company reached $17.45M in total revenue in its last fiscal year.
Rocket Companies. Based in Detroit, Rocket Companies (formerly known as Quicken Loans) is a holding company that provides industry-leading real estate, mortgage, and financial services through its entities including Rocket Homes, Rocket Auto, and Rocket Mortgage. Since its launch as an IPO in August 2020, the company has increased its gross revenue and in 2021 recorded $15.98M total revenue.
Otis Worldwide. Farmington-based Otis engages in the manufacture, installation, and provision of escalator and escalator services. United Technologies Corp, renamed as Raytheon Technologies, spun-off Otis in 2020. In 2021, the company achieved $12.75M in total revenue.
Viatris. The global pharmaceutical company based in Canonsburg, Pennsylvania was established in 2020 from the merger of Mylan and Upjohn, a legacy division of Pfizer. Viatris’s portfolio consists of over 1,400 approved molecules across a wide range of therapeutic areas and is known to carry the brands Viagra, Xanax, Lipitor. The company recorded $11.94M total revenue last fiscal year.
Alexion Pharmaceuticals. Based in Boston, Massachusetts, Alexion is a global biopharmaceutical company with expertise in providing life-changing therapies for people with rare diseases. In 2021, Alexion reported a $6M revenue and has become a subsidiary of pharmaceutical giant Astra Zeneca.
Jefferies Financial Group. The New York-headquartered financial services company offers a full range of investment banking, equities, fixed income, asset, and wealth management products and services. The firm recorded $6.9M total revenue in 2021.
Block. The San-Francisco digital payments company runs two main businesses: point-of-sale technology for SMEs and the Cash App, focussed on peer-to-peer financial transactions and cryptocurrency trading. The company’s flagship product is Square Reader, which offers magstripe readers to merchants for merchants contactless payments in Apple Pay and Google Pay for instance. Block reported $9.49M revenue last year, with Square recording a 200% year-over-year revenue increase.