Fortune 500 Explained

Fortune 500 refers to an annual rank list of 500 of the large US corporations compiled as well as published by the Fortune magazine on the basis of total revenues generated in the fiscal year. The performance of public companies and privately held companies whose revenues are made available to the public are taken into consideration when creating the list. The credit for developing this concept goes to Edgar P. Smith, an editor with the Fortune magazine. The Fortune 500 list was prepared for the first time in 1955.

The list of Fortune 500 companies may be the list that most people are aware of, but there are similar lists – Fortune 100 and Fortune 1000 – created on the basis of their annual gross revenues. Whereas the Fortune 100 list consists of the names of top one hundred companies, the broader Fortune 1000 list incorporates the names of the top one thousand firms. The names of companies on smaller lists remain somewhat stable, but the ranks may change over a period of time because of changes in revenues and mergers among listed firms.

The Fortune 500 list that was originally created was limited to companies that involved in mining, manufacturing or energy exploration. Along with that, the magazine also published companion lists such as Fortune 50 lists:

Ranked by Assets

  • Large commercial banks
  • Utility companies
  • Life insurance companies

Ranked by Revenues

  • Retailers
  • Transportation companies

However, the Fortune magazine changed the methodology employed to rank companies in 1994. The magazine stared including names of service companies. This change brought in 291 new companies to the lists. This included 3 in the Top 10.

More than 50 percent of the Fortune 500 companies have their headquarters in Delaware, while other companies are incorporated in various locations across the US.

Getting a position in the Fortune 500 list is considered to be a matter of prestige. Further, the collective performance of these companies may also indicate the overall economic situation of the country.

 

Featured Company

In this issue owe have set our eyes on a company called GamblingMetropolis. They are an online gambling comparision website and even though they have only been running since late 2004, they are already estimated to be worth over $1 million.

“The reason for our swift growth is that we listen to the market. We saw that there was a huge need for an online casino bonus comparison website in the UK and Australian market,” says founder Patrik Andersson. “Right now we are one of the biggest, if not the biggest casino bonus guide in the UK and we are rapidly growing in Australia as well. What we do different from other similar services is that we listen to our visitors and try to be as transparent as possible. We clearly state all the terms & conditions of each bonus and we also give detailed instructions on how to claim them. I think that’s one of the things we do that have made us so popular.”

GamblingMetropolis surely is a force to be reckoned with within the online gambling industry and we believe that they will continue their rise and become one of the biggest online casino bonus guides in the world.

These are the top 3 pages on Gamblingmetropolis:

Get free money on your favorite online casino

High Limit Slots – Best Slots For High Rollers

GamblingMetropolis