The team at LLC Attorney gave us a way to compare the top-earning companies every decade since the mid-50s. The Fortune 500 list celebrated its 70th birthday, which means it’s a great time to take a deeper look at these companies through the team’s timeline of companies that earned the most revenue. They compiled data for every year since 1955.
As we follow the timelines, we can see that some companies are powerful enough to stand the test of time, while others have faded from household name status. These changes and insights shed light on historical events and economic trends over time.
For example, this was the top ten list in the 1970s:
- General Motors (GM)
- Exxon Mobil
- Ford Motor
- General Electric (GE)
- IBM
- Chrysler
- Mobil
- Texaco
- ITT Industries
- Gulf Oil
Now, let’s compare it to the most recent list:
- Walmart
- Amazon
- Apple
- UnitedHealth Group
- Berkshire Hathaway
- CVS Health
- Exxon Mobil
- Alphabet
- McKesson
- Cencora
Notice that in the 70s the auto and oil industry dominated the market and the list. Today’s list represents a more diverse portfolio of companies. Including tech companies, insurance companies, and department stores.
There are so many factors that could have influenced these changes. For one, American cars use less gas for better environmental efficiency, so the demand is lower, causing many of these oil companies to drop out of the top 10. Another change influence was the Fortune 500 lists decision to include service industries in 1995. This inclusion is welcomed in powerhouse companies like Wal-Mart. On the timeline, we can see the boom of pharmaceutical companies who have been criticized for profiteering in recent years, and we can also chart the astronomical rise of Silicon Valley through the inclusion of tech companies like IBM and Apple.
