Despite revenue being essentially flat (growing only 0.1% year over year), the Global 500 companies had their second-most profitable year ever, minting $2.97 trillion in profits—Saudi Aramco (No. 4) being the most profitable with No. 7 Apple coming in second.
This year’s list also saw the U.S. overtake Greater China for the region with the highest concentration of Global 500 companies—Greater China has held that title since 2018. U.S.-based Global 500 companies accounted for a third of all revenue on the list and generated 6% more revenue than the year prior. Find the full list here.
Also, this week, Fortune writer Lila MacLellan has a piece on Tyson Foods CFO John Randal Tyson, the youngest CFO in the Fortune 500 and who was thought to be the meatpacker’s next CEO. But his drunken and erratic behavior has landed him in police custody twice in less than two years and may have also cost him the top job. Read her story here.