Amazon has secured the number one position on the Fortune 500 list for the first time. This historic shift ends Walmart’s 13-year tenure as the largest U.S. company by revenue.
Amazon reported approximately $717 billion in revenue for the 2025 fiscal year. Walmart followed closely with $713 billion in reported revenue. Amazon originally debuted on the list at number 492 just over two decades ago.
Strength in e-commerce, Amazon Web Services (AWS), and advertising drove the company's growth. This milestone reflects the increasing dominance of digital-first business models over traditional brick-and-mortar retail.