Understanding the Fortune 500

Understanding the Fortune 500
Fortune magazine was founded in 1929 by Henry Robinson Luce.1 The first issue was published the following year and has since become one of the world's leading business publications. Originally printed monthly, the magazine put out 16 issues every year and also has a major online presence.
 
The magazine compiled its first list of the most successful American companies—both public and private—in 1955. It was created by editor Edgar P. Smith in an effort to measure the size and power of American businesses during a time when the country's economic power was "the envy of the world."2 Originally called the Fortune Industrial 500, the name of the list was shortened to Fortune 500.
 
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