One of the best ways to determine where the largest United States financial centers are is by looking at the number of Fortune 500 companies that are located within a certain geographic area. Fortune 500 companies represent the biggest of the big when it comes to company size and amount of revenue that is dealt with from year to year. These Fortune 500 companies are the industry giants that serve to make various locations in America economic powerhouses. This list of Fortune 500 companies is printed in Fortune Magazine and has become an important tool for anyone who is in the business world, especially those on Wall Street.

History

Fortune Magazine was the vision of Henry R. Luce who had teamed with Briton Hadden to found Time Magazine in 1923. Henry Luce’s vision of a magazine dedicated to covering the gamut of the business world was put on hold for a brief few years due to the onset of the 1929 Stock Market Crash and the ensuing Great Depression. However, by the 1930s the United States was ready for a magazine such as Fortune and in February of 1930, the first issue of Fortune went out to approximately 30,000 subscribers.

A League of Its Own

The first issue contained 184 pages that broke away from the traditional style of business news reporting and article writing that was used by the Wall Street Journal. Instead of lists of statistics and hard, cold numbers, Fortune focused on presenting well written and engaging stories and features that served to both criticize various businesses, corporations, and political issues, as well as inform its readers about what was happening on the inside of America’s top companies. By 1937, Fortune had grown to a publication that served an estimated 460,000 readers and was bringing in almost $500,000 per year. In the years since, Fortune has become a must-read for those who wish to stay on top of the leading financial and business markets.

Financial Centers

By using the list of Fortune 500 companies to isolate geographic trends in business, an individual can pinpoint where the hottest economic spots are in the country. The top 3 economic states as based on the Fortune 500 list are California, Texas, and New York. Each of these states boasts at least 75 companies that are on the Fortune 500 list.