The new Fortune 500 list for 2014 is here and well, its about the same as it always is. Once again, Walmart and Exxon duked it out for number one with the retail giant coming out on top the for the second year in a row. The most notable change: Apple has made it into the top five, receiving a push up the corporate ladder with their recent Beats acquisition and the ongoing success of the iPhone.
Here's the top ten:
For fiscal year 2014, Wal-Mart’s net sales were $473.1 billion. That's up 1.6 percent from 2013. Investors received a healthy 17.5 percent return.
2. Exxon Mobil
Exxon didn't have the greatest year: revenue dropped almost nine percent, net income fell 27 percent. But still, they were awarded the silver medal of corporations. They have some major oil projects in the works, including Arctic drilling and deepwater projects in the Gulf of Mexico.
The second largest oil company in the United States came in third place. Their revenue also decreased, down to $228.9 billion. They are also working on a new project in the Gulf of Mexico.
4. Berkshire Hathaway
Warren Buffett's company is sitting pretty at number four. While they might not get a medal, their per-share book value was up 18.2 percent last year.
Apple had a healthy first quarter, raising its quarterly dividend by 8 percent. While they are facing more competition from the Android and Windows markets, the tech giant remains in the top five in part due to their wise diversification, like the recent Beats acquisition.
6. Phillips 66
Another major player in American oil and gas, they were hit with a four percent decrease in revenue last year. This year, they'll be spending 40 percent more on capital expenditures. They'll be investing in new chemical segments.
7. General Motors
GM has had a rough year, hit with countless recalls and major government fines. Still, their sales were up seven percent from last year. Much of those profits will go to dealing with the recalls, GM expects will cost $1.7 billion.
8. Ford Motor
Ford had a great year — revenue was up ten percent to $146.9 and profits increased 26 percent. They will have to spend some cash on the 1.4 million cars of their own that were recently recalled.
9. General Electric
GE is planning to sell its stake in NBC, to the tune of $18.1 billion. They'll be investing in new technology, including a $17 billion French power and energy grid firm.
10. Valero Energy
Rounding out the top ten is yet another oil company. With a new CEO, Joe Gorder, and the spin off of their retail business complete, Valero is in for a solid year.
This article is from the archive of our partner The Wire.