In this rapidly globalizing world, small businesses are increasingly getting acquired by big companies resulting in some really huge multinational conglomerates around the world.
It may be noted that private companies that do not report financial figures and data to a government agency for publication have not been included in the list. Some such big prominent private companies in the US are Koch Industries and Cargill.
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Largest American Companies by Revenue
The top 5 largest companies in the US are listed here, as per the Fortune 500 list for 2020
5. CVS Health
Headquartered in Woonsocket, Rhode Island, CVS Health jumped up several rungs in the ladder to become the fifth largest company in the US, by revenue in 2020, primarily due to the Covid-19 pandemic. This healthcare corporation owns a number of brands such, as health insurance provider Aetna, retail pharmacy chain CVS Pharmacy, and pharmacy benefits manager, CVS Caremark, and more.
Founded in 1963 as Consumer Value Stores (CVS) by Sidney and Stanley Goldstein and Ralph Hoagland as a chain of beauty aid and health stores, it kept growing, as the company added many new pharmacies, over the next several years. Over the years, the company underwent several names changes, acquisitions, and mergers till finally it was named as CVS Health in 2014, after it decided to remove tobacco products from its pharmacies.
For 2020, its revenue was $ 256,776 million, an increase of 32 percent from previous year. It has around 290,000 employees. Besides being the 5th largest in the US, it is the 13th largest company in the world by revenue for 2020.
4. Apple Inc.
Headquartered in Cupertino, California, Apple Inc. is a multinational tech company that designs, manufactures, and sells computer software, consumer electronics, and online services. It is regarded as the world’s most valuable brand, with a huge loyal customer base.
The company was founded in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne. Wayne sold his share and left within 2 weeks. The company became financially successful, but struggles between executives, resulted in both Jobs and Wozniak leaving the company, in 1985.
Jobs returned to Apple in 1997, and became the CEO in 2000. Since then, Apple has become one of the most valuable companies in the world. In 2018, it was the first publicly-traded company to reach a valuation of $1 trillion, and $2 trillion in August 2020. It is also the 3rd largest manufacturer of mobile phones in the world. For 2020, its revenue was $260,174 million and about 137,000 employees.
3. Exxon Mobil Corporation
Headquartered in Irving, Texas, ExxonMobil is a multinational gas and oil company. It has consistently featured in the top 20 in the world, with regards to largest company by revenue, most profitable company, largest refiner, and market capitalization. For 2020, its revenue was $264,938 million, and nearly 75,000 employees.
It was founded in 1999 after the merger of Exxon and Mobil, and is regarded as the largest corporation, directly related to the company ‘Standard Oil’ founded by, John D. Rockefeller.
The company has been criticized for, allegedly lobbying against climate change, for alleged human rights violations, and for the slow cleanup of their 1989 Alaska oil spill.
2. Amazon.com, Inc
Headquartered in Seattle, Washington, Amazon is known all over the world for e-commerce retailing. However, the multinational company also has businesses in cloud computing, artificial intelligence, digital streaming, TV and film production, electronic manufacture, and publishing. It is regarded as one of the Big Five tech companies in the US.
Amazon was founded in 1994 as an online books marketplace by Jeff Bezos. It later expanded into an online marketplace for numerous items like electronics, groceries, jewelry, toys, furniture, and more. The acquisition of Whole Foods Market by Amazon in 2017 gave it a foothold as a physical retailer. In 2018, Amazon Prime crossed 100 million worldwide subscribers.
Amazon is one of the most valuable companies, the second largest employer, and the largest internet company on the planet. For 2020, its revenue was $280,522 million and nearly 800,000 employees.
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Walmart Inc
The number one position goes to the most familiar name to every American, Walmart.
Based in Bentonville, Arkansas, Walmart is a multinational retail company, that runs a chain of grocery superstores, hypermarkets, and discount department superstores, as well as the Sam’s Club warehouses.
It operates in 27 countries around the globe, under different names in some countries.
Founded in 1962 by Sam Walton, Walmart was the largest grocery retailer in the US, the largest company in the world by revenue, and the world’s largest private employer in 2019. It has been the largest company in the United States since 2014 in terms of revenue. For 2020, its revenue was, $523,964 million with 2.2 million employers.
