Business Visualizations

The Biggest Fortune 500 Company in Every State

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Every year, Fortune magazine publishes its much-anticipated Fortune 500 list. This list is meticulously analyzed by company owners, investors, and influential figures in the business world. So, what makes the Fortune 500 so significant? In this article, our team at The Chartistry provides an in-depth examination of the list, exploring why it attracts so much attention and what it takes for a company to be included.

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What is the Fortune 500?

The Fortune 500 is the finance magazine’s list of the 500 most profitable companies in the United States. The company ranked at the top of the list brings in the most revenue based on its financial documents from the most recent fiscal year. The Fortune 500 list for 2024 has Walmart ranked in the top spot with revenue of $648.125B. In fact, this giant retail store has been ranked number one for the last eleven years.

What Does It Take to Make It Onto the Fortune 500?

To become a Fortune 500 company, a business must be incorporated and conduct operations in the U.S. In addition, the company’s financial documents must be public for it to be considered by Fortune.

Why Do Companies Want to Be on This List?

Fortune magazine published its first list of the top 500 U.S. companies in 1955. Since then, the presence of reputable companies such as Exxon Mobil, Goldman Sachs Group, and General Mills has given the list an air of prestige. Plus, these 500 businesses bring in incredible amounts of revenue and contribute to the strength of our economy. Wouldn’t you want your company to appear on a list alongside Walmart, Amazon, and Berkshire Hathaway?

Have Any Companies Appeared on the Fortune 500 for Decades?

Yes, some companies have made repeated appearances. Some famous names have been on the list every year since 1955, including Kellogg, Chevron, and Exxon Mobil, to name a few.

Fortune 500 Companies by State

Walmart, the number one ranked company on the Fortune 500, is located in Arkansas, with its headquarters in Bentonville. Fortune’s number two company, Amazon, is the biggest in Washington, with its headquarters in Seattle. Exxon Mobil is the biggest Fortune 500 company in Texas, and it does business out of Houston.

An interesting thing to note about this list is that not all 50 states are home to a Fortune 500 company. The states without one include:

  • Alaska
  • Hawaii
  • Maine
  • Mississippi
  • Montana
  • New Hampshire
  • New Mexico
  • North Dakota
  • South Dakota
  • Utah
  • Vermont
  • West Virginia
  • Wyoming

The Largest Fortune 500 Company Headquartered in Each State

State Biggest Fortune
500 Company
Location of
Headquarters
Fortune
500 Rank
(2023)
2023
Revenue
(in
millions)
Percent
Change
in
Revenue
From
2022
Alabama Regions Financial Birmingham, AL

483

$7,531

14%

Alaska N/A N/A N/A N/A N/A
Arizona Avnet Phoenix, AZ

163

$24,311

24.4%

Arkansas Walmart Bentonville, AR

1

$611,289

6.7%

California Apple Cupertino, CA

4

$394,328

7.8%

Colorado Arrow Electronics Centennial, CO

109

$37,124

7.7%

Connecticut Cigna Group Bloomfield, CT

15

$180,516

3.7%

Delaware DuPont Wilmington, DE

250

$16,549

-3.6%

District of Columbia Fannie Mae Washington, D.C.

28

$121,596

19.7%

Florida World Kinect Miami, FL

70

$59,043

88.4%

Georgia Home Depot Atlanta, GA

20

$157,403

4.1%

Hawaii N/A N/A N/A N/A N/A
Idaho Albertsons Boise, ID

53

$71,887

3.2%

Illinois Walgreens Boots Alliance Deerfield, IL

27

$132,703

-10.7%

Indiana Elevance Health Indianapolis, IN

22

$156,595

13%

Iowa Principal Financial Des Moines, IA

236

$17,492

22.6%

Kansas Seaboard Merriam, KS

364

$11,243

21.8%

Kentucky Humana Louisville, KY

42

$92,870

11.8%

Louisiana Lumen Technologies Monroe, LA

237

$17,478

-11.2%

Maine N/A N/A N/A N/A N/A
Maryland Lockheed Martin Bethesda, MD

60

$65,984

-1.6%

Massachusetts General Electric Boston, MA

52

$76,555

3.2%

Michigan Ford Motor Dearborn, MI

19

$158,057

15.9%

Minnesota UnitedHealth Group Minnetonka, MN

5

$324,162

12.7%

Mississippi N/A N/A N/A N/A N/A
Missouri Centene St. Louis, MO

25

$144,547

14.7%

Montana N/A N/A N/A N/A N/A
Nebraska Berkshire Hathaway Omaha, NE

7

$302,089

9.4%

Nevada MGM Resorts International Las Vegas, NV

315

$13,128

35.6%

New Hampshire N/A N/A N/A N/A N/A
New Jersey Johnson & Johnson New Brunswick, NJ

40

$94,943

1.2%

New Mexico N/A N/A N/A N/A N/A
New York JPMorgan Chase New York, NY

23

$154,792

21.7%

North Carolina Bank of America Charlotte, NC

32

$115,053

22.6%

North Dakota N/A N/A N/A N/A N/A
Ohio Cardinal Health Dublin, OH

14

$181,364

11.6%

Oklahoma Oneok Tulsa, OK

173

$22,387

35.3%

Oregon Nike Beaverton, OR

93

$46,710

4.9%

Pennsylvania Cencora Conshohocken, PA

11

$238,587

11.5%

Rhode Island CVS Health Woonsocket, RI

6

$322,467

10.4%

South Carolina Sonoco Products Hartsville, SC

498

$7,251

29.7%

South Dakota N/A N/A N/A N/A N/A
Tennessee FedEx Memphis, TN

41

$93,512

11.4%

Texas Exxon Mobil Houston, TX

3

$413,680

44.8%

Utah N/A N/A N/A N/A N/A
Vermont N/A N/A N/A N/A N/A
Virginia Freddie Mac McLean, VA

45

$86,717

31.6%

Washington Amazon Seattle, WA

2

$513,983

9.4%

West Virginia N/A N/A N/A N/A N/A
Wisconsin Northwestern Mutual Milwaukee, WI

111

$36,921

0.5%

Wyoming N/A N/A N/A N/A N/A

Do Some States Have More Than One Fortune 500 Company?

Yes, several states have multiple companies on the list. Texas leads with 55 companies on the Fortune 500, followed by California with 52 and New York with 50. These states all boast a large population and bustling metropolitan areas.

Do Some States Have Just One Fortune 500 Company?

Yes, some states on the list are home to just one. These states include Delaware, Kansas, Kentucky, and South Carolina. In terms of total population, each of these states ranks in the lower half on the list of 50. Delaware has the lowest population, with 1,044,320 people in 2024.

Are Some Cities Home to More Than One Fortune 500 Company?

Absolutely! In fact, some cities serve as the home base for multiple Fortune 500 companies. Some notable examples include:

Chicago

Illinois has 33 Fortune 500 companies, including Walgreens, McDonald’s, and United Airlines, among others. Dozens of these companies are headquartered in the Chicago area.

Houston

Of the 55 Fortune 500 companies in Texas, Houston is home to 21. Exxon Mobil, Sysco, and Hewlett Packard Enterprise (HPE) are just a few of the impressive companies in the collection.

Atlanta

According to our chart, the biggest Fortune 500 company in Georgia is Home Depot, ranked at number 20. But Home Depot is not alone. There are 18 Fortune 500 companies in Atlanta, including Aflac, Delta Air Lines Inc., The Coca-Cola Company, UPS, and others.

Make sure to explore our other lists and visuals, which provide insight into the world of big business. One list ranks companies by employee profits (which happens to be one of our original visualizations), while another categorizes the most profitable companies by industry. It’s no surprise that many Fortune 500 companies frequently appear on various lists throughout the year, highlighting their achievements.

The Number of Fortune 500 Companies in Each State

State State Abbreviation Number of Fortune
500 Companies in Each State
Texas TX

55

California CA

52

New York NY

50

Illinois IL

33

Ohio OH

24

Virginia VA

24

Florida FL

23

Pennsylvania PA

23

Georgia GA

19

Michigan MI

18

Massachusetts MA

17

Minnesota MN

15

Connecticut CT

14

New Jersey NJ

14

North Carolina NC

13

Washington WA

12

Arizona AZ

10

Colorado CO

10

Tennessee TN

10

Missouri MO

8

Wisconsin WI

8

Indiana IN

7

Oklahoma OK

6

Arkansas AR

4

Nebraska NE

4

Rhode Island RI

4

Idaho ID

3

Maryland MD

3

Alabama AL

2

District of Columbia DC

2

Iowa IA

2

Louisiana LA

2

Nevada NV

2

Oregon OR

2

Delaware DE

1

Kansas KS

1

Kentucky KY

1

South Carolina SC

1

Alaska AK

0

Hawaii HI

0

Maine ME

0

Mississippi MS

0

Montana MT

0

New Hampshire NH

0

New Mexico NM

0

North Dakota ND

0

South Dakota SD

0

Utah UT

0

Vermont VT

0

West Virginia WV

0

Wyoming WY

0

Source:

Fortune 500

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Business Visualizations

Most Mattress Brands Are Owned by a Handful of Companies

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When you visit a mattress store or browse through mattress options online, there are a lot of choices that make us feel like we’re choosing from dozens of options from a wide variety of companies. But this choice is an illusion, as a handful of corporations actually own these brands and control large portions of the mattress and bedding industries. The team at NapLab breaks down ownership of the most recognizable mattress companies. Their work shows us that brand diversity is often a mask for a limited corporate structure.

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Which Companies Own Which Mattress Brands?

One of the biggest shareholders of the mattress industry is Somnigroup International. They used be called Tempur Sealy International, a name you probably recognize. What you might not realize is that this company owns brands like Tempur-Pedic, Sealy, Stearns & Foster, Sherwood Bedding, and Sleepy’s. They also own the entire extensive Mattress Firm retail store network. This makes Somnigroup International a powerful driving force in mattress sales and distribution.

Another big player in the industry is Serta Simmons Bedding LLC (SSB). They own classic brand names like Simmons, Serta, Beautyrest, and Tuft & Needle. SSB has had its share of financial challenges, including filing for Chapter 11 bankruptcy in 2023, but it still continues to own a significant share of the American mattress market.

Not all these owners are giant manufacturers. Ashley Global Retail is best known for furniture, but it entered the mattress market when it acquired the Resident Home family of brands, which includes Nectar, Awara, Siena, DreamCloud, and Ashley Sleep. These options encompass both luxury and budget-friendly mattress brands.

3Z Brands is a key player in the direct-to-consumer mattress sales space. They own the brands Helix Sleep, Bear, Brooklyn Bedding, Leesa, and Nolah. These brands represent the share of shoppers who prefer buying a mattress online rather than dealing with retailers and sales representatives.

Saatva Inc. used to focus solely on selling luxury mattresses online, but in 2023, it merged with Bedding Industries of America. The merger added other brands to their roster, including Eclipse, Millbrook, Ernest Hemingway, and Eastman House, in addition to Saatva’s name brand of products.

We also see some international companies represented here. GoodMorning.com, formerly known as Novosbed, is a Canadian company that primarily sells to the U.S. market, encompassing the brands Octave, Juno, Douglas, and Logan & Cove.

The Flex Bedding Group is Spanish-owned and sells luxury and niche products to Americans, including the high-end brands Marshall Mattress, E.S. Kluft & Co., Kluft, Aireloom, and Vispring.

Understanding which companies own these mattress brands helps consumers make informed choices. It also helps us understand that brands might appear vastly different, but in reality, they’re under the same corporate umbrella, which influences everything from pricing to marketing to manufacturing.

This brand consolidation isn’t any different from many other industries, like beer and skincare, but it does raise consumer concerns about true choice and industry competition.

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Business Visualizations

Ranking States by Workplace Cleanliness

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The team at Stratus Building Solutions reveals which states have the cleanest and dirtiest workplaces in a new study. Cleanliness is often an overlooked but powerful influence on workers’ health, happiness, and productivity. People who work in an office spend many hours there and have a right to a clean, safe space to work, whether that’s at their desk, in the breakroom, or in the bathroom. The team’s study reveals that cleanliness depends on more than company policy and culture. It’s impacted by resources and state laws. While some states mandate rules that boost workers’ health and safety, other locations lack such protections and put workers at risk.

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Which State Has the Cleanest (and Dirtiest) Workplaces?

The team created a scoring system based on some key criteria. First was the number of OSHA violations. OSHA is the Occupational Safety and Health Administration, which sets federal workplace safety standards, including sanitation standards. A state with a high number of OSHA sanitation violations is a clear sign of dirty workplaces. These violations could include unclean restrooms, inadequate waste disposal, or the presence of mold and bacteria. The team also examined the number of janitors per capita, population density, air pollution, and sick leave laws in each state.

The team found that these states were the cleanest with the highest scores:

  • Nebraska
  • Colorado
  • North Dakota
  • South Dakota
  • Washington
  • Missouri
  • Montana
  • Idaho
  • Michigan
  • New Mexico

The top scorers had low rates of OSHA violations, clean air, and high janitor-to-population ratios. State laws mandating sick leave also play a major role, as workers are more likely to stay home rather than bring germs to work.

These were the states that struggled the most with these standards:

  • Tennessee
  • North Carolina
  • Mississippi
  • Virginia
  • Connecticut
  • Oregon
  • Nevada
  • Rhode Island
  • Alabama
  • New Jersey
  • Pennsylvania

Many of these states are on the dirty end of the spectrum, lacking paid sick leave. Tennessee, Mississippi, and North Carolina do not have laws on paid sick leave, which, when combined with the absence of handwashing stations and disinfecting services, makes the workplace a petri dish for germs. We also see heavily populated states like New York and New Jersey on the low end of the spectrum because more people means a greater challenge to clean up waste and keep germs at bay. High populations also mean bigger cities and more air pollution. We do see, however, that lower population density doesn’t necessarily mean cleaner workplaces, as Vermont was near the bottom of the list and has a small population.

Clean workplaces are healthy workplaces. Dust, germs, and air pollution lead to gastrointestinal and respiratory problems among workers. Simple precautions like regularly disinfecting surfaces, installing handwashing stations, and removing dust can boost the cleanliness of the office and the health of workers. Healthy workers mean better productivity and greater safety for all. Not only will a clean space improve worker experience, but OSHA violations can be very costly. The team’s study provides fascinating insights into what affects workplace cleanliness.

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Business Visualizations

New Study Examines Language Used to Let Employees Go

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Letting an employee go is an unpleasant experience for everyone involved, but language has the power to guide the emotions surrounding an interaction. While the right words won’t erase the bad side of being let go, they can help the employee in question understand why the situation is happening and make them feel seen and heard. Preply leaned into the language aspects in these situations with a study examining the most common phrases and words used when letting an employee go and how employers and employees felt about the situation.

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Study unveils the most common words managers use when letting employees go

Overall, the team found that these were the most common phrases used:

  • Letting you go
  • Effective immediately
  • Terminating your employment
  • This isn’t working out
  • No longer require services
  • Parting ways
  • Ending your employment
  • No longer needed
  • Relieved of duties
  • Ending our working relationship

Managers and employees seem to agree that lack of empathy and responsibility were the most common complaints about the process. One in six managers say they regret the words they chose when firing someone, and 92% feel they need more training on how to handle such situations. Employees wanted their managers to focus on clarity, compassion, empathy, and honesty when firing an employee.

The team studied changes that both managers and employees would like to see in the firing process.

These are the six things employees want to see improved:

  • Better explanation
  • Better empathy
  • Taking responsibility rather than avoiding blame
  • Face-to-face conversation rather than electronic
  • Fewer team members involved in the firing
  • Don’t compare fellow employees

Here’s how that compares to changes managers would like to make to the process:

  • Better explanation
  • Better empathy
  • Face-to-face conversation rather than electronic
  • Don’t compare fellow employees
  • Taking responsibility rather than avoiding blame
  • Fewer team members involved in firing

These are similar answers, but we can see that the two groups ranked their importance differently. Overall, 92% of Americans think managers could benefit from some language training when it comes to firing someone. Empathy and honesty were high on the list of employee wishes, indicating that understanding can help give them closure on the job, and empathy softens the blow. Not many managers would prefer a face-to-face meeting. Only 1 in 6 prefer this to virtual meetings, which seem to be the most common option.

Only 55% of managers have received training on how to fire someone, and with many of them regretting their language choices, it seems that many managers would benefit from some education in business language and communication. Notice that many of the top phrases are more professional ways to say “fired,” like “letting you go,” “terminating,” and “no longer require.”

When managing a team, empathy and clear language are crucial. These skills can help managers excel at many tasks beyond having to let an employee go. But when a situation like firing someone is emotionally charged, the language used becomes more important than ever. Hopefully, the team’s study can help managers reflect on how they go about the process.

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