Virginia’s Fortune 500 companies
This year, 24 Virginia companies made the Fortune 500 list of the nation’s 500 largest publicly traded companies in the United States by total revenue.
The commonwealth had three more Fortune 500 companies in 2023 than last year, largely due to aerospace and defense contractors RTX (formerly Raytheon Technologies Corp.) and Boeing Co., which both moved their headquarters to Arlington County from out of state last year. This year, they debuted as Virginia’s second- and third-ranked Fortune 500 companies. Additionally, McLean-based global hotelier Hilton returned to the Fortune 500 this year after a two-year slump caused by the pandemic.
This year, 10 of the commonwealth’s Fortune 500 companies are based in Fairfax County, the Virginia locality with the most Fortune 500 companies. The metro Richmond region, including Hanover, Henrico and Goochland counties, has the second most, with five companies.
Notably, Goochland-based used vehicle retailer CarMax Inc. had the biggest rise in 2023, jumping 50 slots to No. 124. Henrico-based convenience store holding company Arko Corp., which debuted on the Fortune 500 last year, moved up almost 40 slots to No. 460.
The biggest slides were seen from Henrico-based insurance holding company Markel Group Inc., which dropped 63 slots to No. 352, and DXC Technology Co. in Ashburn, which dropped 48 slots to No. 255.