Facebook breaks into Fortune 500 list, Apple makes top ten

By Nir Kenner on May 6, 2013, 4:00 PM
apple, facebook, fortune, fortune 500

Apple is bigger than ever, according to Fortune, which ranked the company sixth in its annual Fortune 500 list of largest companies in the US by revenues. Cupertino is up from 17th place in 2012 and is the only tech company to break the top ten this year, with the magazine noting that being king of the hill is a high-pressure job.

Meanwhile, Facebook made the top 500 for the first time, only 9 years after launching the website and less then a year after going public. The social network ranked No. 482 on the list, up from No. 598 the year before. That's quite a big jump and looking at the current rate Facebook is growing we might still see a similar jump next year. You can be sure Mark Zuckerberg is grinning from ear to ear right about now.

Besides joining the Fortune 500, Facebook is also taking a record away from Google by becoming the fastest company in history to get in the list after going public -- the latter took 16 months. Meanwhile, its CEO is the youngest of the pack according to Fortune managing editor Leigh Gallagher.

The Fortune 500 rankings have been published each year since 1955, and are based on total revenue for U.S. companies during the fiscal year ending on Jan. 31. Facebook, which raised $16 billion from its IPO last May, has been ramping up revenue from advertising ever since and reported its first $5 billion year in 2012.

The rest of the companies making the top ten include Walmart, Exxon, Chevron, Phillips 66, Berkshire Hathaway, General Motors, General Electric, Valero Energy, and Ford Motor. Check out the full list here.




User Comments: 4

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soldier1969 soldier1969 said:

My guess is Facebook will become Myspace in about a year give or take.

NTAPRO NTAPRO said:

Weren't people saying that years ago :|

1 person liked this | davislane1 davislane1 said:

Weren't people saying that years ago :|

It's a classic strategy: keep saying it until it happens. Some of us just state it more open-endedly so as to not be called out so easily :P

H3llion H3llion, TechSpot Paladin, said:

My guess is Facebook will become Myspace in about a year give or take.

Not yet, id say within next 5 years.

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