Amazon’s Rise: Ousting Walmart as Fortune 500 Leader After 13 Years

Amazon Overtakes Walmart as Fortune 500’s New No. 1

In a historic shift, Amazon has claimed the top spot on the esteemed Fortune 500 list, dethroning Walmart after 13 years of dominance. The Seattle-based tech giant recorded revenue exceeding $700 billion in 2025, marking a significant 12% year-over-year increase. Amazon’s rise to prominence began over two decades ago when it first entered the list at No. 492.

Throughout the 72-year history of the Fortune 500, only four companies have held the coveted No. 1 position: General Motors, ExxonMobil, Walmart, and now Amazon. Walmart, which had maintained its leadership since 2012, now finds itself at No. 2 on the list.

The Top 10 Companies on the Fortune 500 List

• Amazon
• Walmart
• UnitedHealth Group
• Apple
• Alphabet
• CVS Health
• Berkshire Hathaway
• McKesson
• Exxon Mobil
• Cencora

Combined, the companies featured on the list generated a staggering $21.0 trillion in revenue and $2.1 trillion in profits in the last fiscal year. With a global workforce of 30.5 million employees, these corporations continue to shape the economic landscape.

Amazon’s Financial Performance and Workforce Changes

Amazon’s first-quarter results for 2025 showcased robust sales of $181.5 billion, a 17% increase from the previous year. Operating income also surged by 30% to reach $23.9 billion. Notably, Amazon Web Services experienced accelerated growth of 28% in the first quarter, marking its fastest expansion in nearly four years.

Despite its financial success, Amazon underwent significant organizational changes, including a restructuring that led to the layoff of 16,000 corporate employees in January. This restructuring, initiated in October and culminating in a total reduction of 30,000 positions, marked the largest downsizing in Amazon’s history.

Tech Highlights from the Fortune 500 List

• Microsoft climbed to its highest-ever ranking at No. 11, driven by strategic integrations with OpenAI, Azure cloud, and Copilot tools.
• Alphabet retained its title as the “most profitable company,” surpassing $100 billion in profits for the second consecutive year. The company’s record-breaking $132 billion earnings set a new benchmark for Fortune 500 entities.
• Nvidia made history as the first $4 trillion Fortune 500 company, surpassing Apple to become the most valuable corporation. With a ranking of No. 16, Nvidia’s market value soared to unprecedented heights.
• Meta, positioned at No. 17, achieved its highest-ever ranking by advancing five spots on the list, underscoring its growing influence in the tech sector.