Exxon Mobil is top Fortune 500
Filed Under (Uncategorized) by Fred Chan on 20-04-2009
Tagged Under : Exxon Mobil, Fortune 500, Walmart
Exxon Mobil has unseated Wal-Mart Stores to top the 2009 Fortune 500 list after a year the magazine called the worst ever for the 500 largest U.S. publicly traded companies.
Fortune ranks companies by revenue. Exxon shrugged off plummeting oil prices to take the No. 1 spot with $442.85 billion in revenue in 2008.
Wal-Mart had held the top spot for six of the last seven years.
The retail giant slipped to No. 2, with $405.6 billion in revenue.
Fortune released the list on Sunday, calling 2008 the worst year for the 500 companies on its closely watched list.
It says earnings fell 85 percent – the biggest one-year decline in the list’s 55-year history. – The Star
