Good morning. A brand new Fortune 500 list is out this morning. Amazon eclipsed the $700 billion mark with a 12% jump in revenue in 2025 and took the No. 1 spot, ending Walmart’s historic 13-year run. And Amazon’s SVP and CFO Brian Olsavsky has led finance for over a decade with a front-row seat to the company’s rise on the list.
Amazon debuted on the Fortune 500 in 2002 at No. 492. That’s the same year Olsavsky joined the company. More than 20 years ago, the now tech giant was a fraction of Walmart’s size; today, its multi-engine model, spanning e-commerce, logistics, AWS, and a fast-growing advertising business. Walmart fell to No. 2 on the list for the first time since 2012.