Post by Fortune

The Fortune 500 has a new leader: Amazon. Early on Feb. 19, Walmart reported total revenue of $713.2 billion for the recently ended fiscal year. That’s up 4.7% from the prior year and the company’s all-time highest top line. But it was a hair less than the $716.9 billion full-year revenue Amazon reported two weeks ago, meaning that, barring any unexpected surprises, Amazon will rank No. 1 on the next edition of the Fortune 500 list, which will publish in early June. It’s an astonishing feat by Amazon, founded in 1994 in the Seattle area. In 2010, its revenue was $34.2 billion, while Walmart, founded in 1962 in Rogers, Ark., was more than 12 times that size, with about $422 billion in revenue. Astonishing, perhaps, but let’s face it, not surprising. 🔗 Read more from the latest digital issue of Fortune magazine: https://bit.ly/4aH4SDK 📰 Illustration by Eddie Guy