Texas Overtakes California in Fortune 500 Rankings
California falls behind Texas in Fortune 500 ranking

Image: Los Angeles Times
Texas has surpassed California in the number of Fortune 500 companies, with 57 based in Texas compared to 56 in California. Despite this, California remains a leader in profitability and innovation, housing major firms like Apple and Alphabet.
- 01Texas now hosts 57 Fortune 500 companies, while California has 56, marking a shift from California's previous lead.
- 02California's Fortune 500 companies generated $647 billion in profits, making them the most profitable in the nation.
- 03Texas Governor Greg Abbott credits the state's business-friendly environment for attracting companies.
- 04California is still home to nearly 400 unicorns and captured two-thirds of U.S. venture capital last year.
- 05Amazon topped the Fortune 500 list with $716.9 billion in revenue, ending Walmart's 13-year dominance.
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Texas has overtaken California as the state with the most Fortune 500 companies, boasting 57 compared to California's 56. This shift marks a significant change from two years prior when California led the list. Texas Governor Greg Abbott praised the state's business-friendly climate as a key factor in attracting firms. Despite the loss, California remains a powerhouse, with its companies generating the highest profits ($647 billion) and holding a total value of $20 trillion. The state is also a leader in innovation, particularly in artificial intelligence and technology, housing nearly 400 unicorns and securing a substantial portion of U.S. venture capital. Amazon has claimed the top spot on the Fortune 500 list with $716.9 billion in revenue, surpassing Walmart. New York follows with 53 Fortune 500 companies, while Illinois and Ohio tie for fourth with 29 each. The competition between Texas and California continues as both states navigate the challenges and opportunities in the corporate landscape.
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The shift in Fortune 500 rankings reflects broader economic trends affecting business operations and job markets in both Texas and California.
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