Everything is bigger in Texas — except for its number of Fortune 500 companies, apparently.
According to a June 2024 news release from Gov. Gavin Newsom’s office, California now has the most Fortune 500 companies in America, “beating out” its conservative rival, Texas, along with New York. The news — which has been repeated by the state’s press department at least twice now — likely comes as a boon to officials, who haven’t shied away from throwing jabs at Gov. Greg Abbott over his remarks on California.
America’s largest companies are included in the publication’s annual Fortune 500 list and ranked based on their revenue. Landing a spot has become a symbol of prestige, and in 2024, California had 57 of these companies, while Texas and New York had 52 each. The outlet attributed the Golden State’s booming economy to its lucrative tech industry, which has only been bolstered by the advent of artificial intelligence: The vast majority of the California businesses listed are in the Bay Area.
You can read the rest of this article at SF Gate and make the jump here.
