Which company topped the original Fortune 500 list?

General Motors topped the original Fortune 500 list published in 1955. The ranking measured the largest U.S. industrial corporations by revenue, and GM led with about $9.8 billion in sales for the relevant fiscal year.

GM’s position reflected the enormous scale of postwar American automobile manufacturing. The company controlled major brands including Chevrolet, Buick, Oldsmobile, Pontiac and Cadillac, while its operations extended across vehicles, financing and industrial components. Its headquarters were in Detroit, at the center of the U.S. auto industry.

The first list’s next three companies were Jersey Standard, U.S. Steel and General Electric. A common mix-up is assuming Fortune originally ranked every major corporation in one combined table. Before the methodology changed, Fortune’s main list focused on manufacturing, mining and energy exploration, while banks, retailers, utilities, insurers and transportation firms appeared in companion lists.

GM’s historical dominance should not be confused with its modern ranking. Fortune’s list is based on annual revenue, not market value, profit or brand recognition, and companies rise and fall as industries and reporting structures change.