Business Visualizations
The Biggest Fortune 500 Company in Every State
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:
Business Visualizations
Which Countries Are Winning the Digital Infrastructure Race?
The invisible digital infrastructure is all around us. It powers every bank login, online order, every text sent, and every social media update posted. Vast networks that many of us rarely think about make these actions possible. Access to the digital infrastructure shapes a population’s economic standing and it even keeps entire governments running smoothly. Therefore, it’s no surprise that some countries spend huge sums to stay competitive in the digital infrastructure sector and there are clear winners as we can see in Ooma’s new study.
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Think of this way: rather than roads and bridges, broadband networks, data centers, and cloud systems, the key to mobile connectivity is a country’s most valuable asset, which powers AI servers and social media. Advanced digital infrastructure correlates with higher GDP growth, higher productivity, a viable remote workforce, and a more digitally skilled workforce. These systems also allow faster access to government services, which can even be lifesaving since they offer quicker communication during emergencies like natural disasters.
The team’s study found 5 countries leading this digital infrastructure race. Sweden is in first place now with strong assets across the board, led by broadband subscriptions and business R&D spending. Israel is in second place with outsized venture capital relative to their GDP and heavy research funding into digital infrastructure. South Korea is in third, powered by ICT patents and top-tier broadband reach. Believe it or not, Estonia edges out the U.S. in fourth place. They’re a global digital pioneer with the most ICT investment as a share of GDP. The U.S. ranks #5, driven by digitally deliverable services and venture capital. The team used a points-based score across seven OECD measures, which include ICT investment, broadband, venture capital investment, M2M SIM cards, ICT patents, digital services trade, and business R&D.
These investments have a number of real-world impacts. In Estonia, they have nearly all their government services available online and a digital ID that can be used for everything from remote voting to public transport. Sweden has a highly developed e-commerce sector, universal household Internet connectivity, and, as a result, Stockholm is Europe’s financial hub. In Israel, the National Digital Agency and the Digital Israel initiative weave tech across education, government, and healthcare, transforming the country into a startup magnet. South Korea has one of the fastest Internet speeds globally and they dominate consumer electronics, competitive gaming, and semiconductors.
Countries investing in digital infrastructure are positioned to be world superpowers. Businesses in these countries benefit from fast communication and a digitally literate workforce. But seamless connectivity shouldn’t depend on geography. Every country and all people can benefit from a more digitally connected world, so the more countries that improve their digital infrastructure, the better. The leading countries on this chart can serve as role models while countries further down the list highlight areas for improvement and potential investment.
Business Visualizations
Study Examines Where People Think AI Will Improve Their Work Lives
AI is embedded in workplaces worldwide by this point, and yet workers’ feelings about it vary dramatically. A study by Qualtrics examined how geography was related to feelings about AI in the workplace. They found that only 37% of workers globally believed that AI would improve their jobs. That average hides a 45-point difference between the most optimistic country, which is China, and the most skeptical, Japan.
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Nearly 80% of global companies report using AI in some capacity, and research indicates productivity gains, with lower-skilled workers benefiting the most. Even if this is the case, employee sentiment isn’t nearly as unified. The numbers the team shows here indicate a healthy level of AI skepticism. In fact, more than half of workers think AI will improve their lives in just 6 out of 32 countries studied. That means there are more skeptics than people excited about what AI will bring to the workplace. But why does optimism cluster in some regions while most remain skeptical?
Here are a few of the countries where optimism runs high:
- China – 62% of workers are optimistic
- Indonesia – 59%
- Peru – 57%
- South Africa – 53%
- Thailand – 52%
There is a mid-tier region with fewer optimistic workers, but still a healthy percentage. This includes Mexico, Brazil, India, Colombia, and Malaysia. Many of these countries have developing economies or a heavy state investment in AI infrastructure, as is the case in China. Workers in these places view AI as a tool to close skill gaps, raise wages, and improve living standards. These regional differences are easy to spot thanks to the map Qualtrics created, which color codes the level of optimism/skepticism.
At the other end of the spectrum, we find the highest number of skeptics in Western Europe and English-speaking countries. Here are the countries with the least faith in AI:
- United States – 31% of workers are optimistic
- Australia – 29%
- Great Britain – 26%
- Canada – 24%
- Japan – 17%
- Poland – 21%
The media narratives in these countries frame AI as a risk of automation-driven job loss, which shapes people’s perceptions even when AI adoption in their workplaces is the same as in optimistic locations. These nations are the same that rank lowest on the belief that AI will improve the job market.
Economic research suggests that AI tends to reshuffle tasks within a role rather than eliminate that job outright. New skills will be required to work with AI, and some positions will shift, but historically, new digital tools have created more roles than they’ve erased. The gap between the hard data and public sentiment in skeptical countries is definitely worth examining and tells a story.
As AI rolls out unevenly across the world’s workforce, it’s important for employers to understand where their employees actually stand on the issue. Beyond regional stereotypes or headline-driven assumptions, employers must look at facts like the data presented here to make thoughtful AI adoption decisions.
Business Visualizations
Study Examines the Logo Rebrands That Led to Big Increases in Web Traffic
Logos are among the most dramatic and important aspects of marketing, shaping how consumers view a brand in ways that aren’t always visible. Logo designs are based on psychology, which informs us how shapes and colors make us feel, and how they can shape a brand’s trustworthiness and credibility. If a brand changes its logo, it must be done with care and intention, and with a clear reason to justify the switch. The team at LogoMaker displays the most effective logo switches and rebrands in a graphic based on increased web traffic.
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The team chose web traffic as an indicator of a successful logo because in the world of marketing, clicks and traffic are closely linked with sales and brand awareness. It’s a quantifiable way to measure customer behavior. The team used SEMrush traffic data to estimate traffic changes in the three months leading up to their rebrand announcement, compared with the two months after the launch. Their graph isolates traffic rates to the time of the rebrand to get the most accurate depiction of the effects. The team also helpfully included the old and new logos so readers can form their own opinions about changes.
According to the team’s results, these were the brands with the biggest traffic increases after their new logo launched:
- Pfizer
- MLB
- Premier League
- The Guardian
- Southwest
- VISA
- Target
- Jaguar
- IHOP
- Spotify
We see a wide range of industries represented in these results. Pfizer takes the lead after redesigning its logo from a pill shape to a double helix. This is also a good example of other factors, in addition to the rebrand, causing the traffic spikes. The rebrand occurred in 2021, the height of the COVID-19 pandemic, when the world was hoping for a company like Pfizer to develop an effective vaccine.
After Pfizer, we see a few sports leagues on the chart. Major League Soccer, or MLS, is in second place, followed by the UK’s Premier League in third. Both of them dramatically simplified their logos, making them clearer and possibly more memorable, as the increased traffic indicates. In fact, many of the companies on the list seem to have opted for simpler logo designs. This is quite possibly so the logos are more visible when they’re small, like on a phone screen. This could also reflect a changing aesthetic, shifting from the more stylized and classical designs of the 90s and 00s to today’s more bold, minimalist style.
The trend toward minimalist logo redesign reflects evolving consumer preferences and the demands of digital media. Companies across diverse industries, from pharmaceuticals to sports and retail, are embracing simpler, more impactful designs that enhance brand recognition and visibility in an increasingly mobile world. These changes not only boost traffic but also demonstrate how branding adapts to cultural shifts and technological advancements, helping organizations stay relevant and competitive in today’s fast-paced landscape.
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