The Fortune 500’s 71st edition is out, and the companies on this year's list generated $19.9 trillion in total revenue and $1.87 trillion in earnings.

🏆 #1: Walmart once again earned top billing with $681 billion in revenue

🏢 HQ: The F500 companies employ over 31 million people worldwide

🎈The up: Nvidia jumped 34 spots to No. 31, driven by a 114% revenue boost

As AI surges up the list, it’s reshaping where business is headed and becoming a gold standard of powering productivity. Some 57% of Americans say AI has increased their output at work, and over 1 in 4 can’t imagine doing their job without it, according to Empower research.

— The Editors 

🦄 Hectocorn hunt: Move over unicorns, the “hectocorns” are here. Elon Musk’s artificial intelligence company, xAI, is reportedly seeking a $113 billion valuation — putting it in line to join the rare $100 billion-plus club alongside companies like OpenAI. OpenAI announced this month it reached $10 billion* in annual revenue, less than three years after launching ChatGPT, which now has over 500 million weekly active users.

🚢 Tariff tailwind: About 7% of the construction materials used to build a new home — worth roughly $14 billion — were imported in 2024. That includes goods from Canada, Mexico, and China. A 90-day pause on most Chinese tariffs helped drive a 277%* spike in shipments from China in mid-May, potentially lowering costs for some key materials. Americans spent an average of $6,453 on renovations last year.

🌵 Desert bloom: Millionaire ranks are swelling. Fueled by stock gains and AI optimism, the U.S. added 562,000* millionaires in 2024, a 7.6% jump over the previous year. Scottsdale, Arizona has overtaken Austin, Texas as the country’s fastest-growing millionaire hub, with 125%* growth from 2014 to 2024.

🍗 Hot wraps: From fiery tenders to viral chicken wraps, fast food is heating up. Private equity firm Roark Capital took a bite of the action with a major investment in Dave’s Hot Chicken, whose U.S. sales soared 57%* last year to over $600 million. And it's not just newer chains drawing buzz — McDonald’s* is reintroducing the chicken Snack Wrap on July 10 after a 9-year absence. In May, Americans spent an average of $812 at restaurants, according to Empower Personal Dashboard^TM data.

Bright horizon

New legislation* being considered could boost access to health savings accounts (HSAs) for 20 million more people and bring the biggest expansion to the program since its inception in 2004.

Among the updates: higher contribution limits, coverage for gym memberships, and new perks for spouses and retirees. In 2024, Americans held $146.6 billion in HSA accounts, more than double the total in 2019. Read more on The Currency^TM.

Golden opportunities

Job growth in the U.S. continues to climb, with 139,000 jobs added in May, and unemployment holding steady at 4.2%. In-demand sectors like healthcare and hospitality led the way, adding 62,000 and 48,000 new roles, respectively. Restaurants, bars, and accommodation services accounted for many of the new positions, while social assistance jobs rose by 16,000. Wages rose 0.4% last month, and are up 3.9% from a year ago. 

Shine on

The New York Liberty’s championship ring is serving serious bling — $60,000* worth. Designed with black diamonds and paraiba tourmalines set in white gold, it’s the priciest ring in WNBA history and a solid flex for a league on the rise.

While ring prices in pro sports are hitting record highs, natural diamond prices for consumers have dropped 26% over the past two years, with lab-grown gems offering big sparkle at a smaller cost.

High-flying milestone

The Goodyear Blimp turns 100* in June, marking a century in the skies with a victory lap over Ohio. Long a fixture at major events, it has become a symbol of staying power.

It’s also a timely nod to longevity. As more Americans enter their golden years — the number of centenarians is expected to quadruple by 2054 — financial strategies are evolving to keep the momentum strong.