Apple Slips to 4th Spot on 2025 Fortune 500 List as Healthcare and Women CEOs Gain Ground

Highlights

• Apple slipped to 4th place on the 2025 Fortune 500 list.
• UnitedHealth Group took the 3rd spot, Walmart and Amazon continue to hold the top two spots.
• Healthcare companies generated $3 trillion in revenue and now make up eight of the top 25 companies.
• A record 55 women CEOs now lead Fortune 500 companies, making up 11% of the list.

Caption – Apple features at 4th spot in this year’s Fortune 500 list. (Photo by Medhat Dawoud on Unsplash)

The 2025 Fortune 500 list is out and Apple has dropped one spot to 4th place. Meanwhile, Walmart and Amazon held steady at first and second, respectively, for the sixth year in a row. Alphabet also made headlines as the most profitable company in the top 10.

Apple’s position remains strong overall. Since 2016, it has bounced between third and fourth place, often swapping spots with UnitedHealth Group, Exxon Mobil and Berkshire Hathaway. This year, UnitedHealth edged Apple out to take the third spot.

Walmart continues to dominate, keeping the top position for the 13th year straight. Amazon, meanwhile, has held second place since 2020 and is still the only other tech-driven company consistently in the top three alongside Apple.

Top 10 Fortune 500 Companies for 2025

1. Walmart
2. Amazon
3. UnitedHealth Group
4. Apple
5. CVS Health
6. Berkshire Hathaway
7. Alphabet
8. Exxon Mobil
9. McKesson
10. Cencora

You can view the full list on Fortune’s website.

Notable Findings in the 2025 Fortune 500 List

Fortune noted that the 500 companies on this year’s list brought in a record $19.9 trillion in revenue and $1.87 trillion in profits for fiscal year 2024. Just to make the list, companies needed at least $7.4 billion in revenue, a 4% increase from last year.

California still leads the pack with 58 companies based in the state, followed by Texas with 54 and New York with 53. On a city level, New York City remains the Fortune 500 capital with 43 companies, nearly twice as many as Houston, which came in second.

One big trend this year was the rise of healthcare companies. The sector pulled in $3 trillion in revenue and placed eight companies in the top 25. That’s a big shift compared to 1995, when there were no healthcare firms in the top 25.

The report writes, “The healthcare sector, generating a combined $3 trillion in revenue, accounted for eight companies in the top 25 ranked Fortune 500 companies. Thirty years ago, in 1995, the top 25 included no healthcare companies.”

Last but not least, this year’s list also includes a record 55 female CEOs, which makes up 11% of the Fortune 500. Notable names include Mary Barra (General Motors), Jane Fraser (Citigroup) and Corie Barry (Best Buy).

FAQs

Q1. Why did Apple drop to fourth place on the 2025 Fortune 500 list?

Answer. Apple was edged out by UnitedHealth Group, which took third place. Despite this, Apple remains consistently in the top four, often swapping positions with Exxon Mobil and Berkshire Hathaway.

Q2. How has the healthcare sector changed in the Fortune 500 rankings?

Answer. Healthcare companies generated $3 trillion in revenue and now occupy eight spots in the top 25, marking a big shift from 1995, when no healthcare firms were in the top 25.

Q3. What milestone did female CEOs achieve on this year’s list?

Answer. A record 55 female CEOs now lead Fortune 500 companies, making up 11% of the list. Notable CEOs include Mary Barra (General Motors), Jane Fraser (Citigroup), and Corie Barry (Best Buy).

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