Walmart became the first company to surpass $500 billion in annual revenue, according to Fortune’s Global 500.
Walmart was founded by Sam Walton, who opened the first Walmart store in Rogers, Arkansas, in 1962. The retailer built its scale through discount stores, highly efficient distribution, and a strategy of offering broad product selection at low prices. It later expanded into supercenters, warehouse clubs, e-commerce, and international markets.
Fortune’s Global 500 ranks companies by revenue, not market capitalization. Walmart’s enormous sales base makes it a useful example of why the world’s biggest companies can differ depending on the metric used. A company may lead by revenue while another leads by market value.
Walmart is often compared with Amazon, but the two businesses have different origins and revenue structures. Walmart began as a physical retailer, while Amazon began as an online bookstore in 1994.