NEW YORK – 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 US publicly traded companies.
Fortune ranks companies by revenue. Exxon shrugged off plummeting oil prices to take the No. 1 spot with US$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 US$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 per cent – the biggest one-year decline in the list’s 55-year history.
-Nampa-AP
Stay informed with The Namibian – your source for credible journalism. Get in-depth reporting and opinions for
only N$85 a month. Invest in journalism, invest in democracy –
Subscribe Now!
