Texas is top state in number of Fortune 500 companies

Texas has more Fortune 500 companies than any other state, according to the 2022 list, with 53 corporate headquarters calling the Lone Star State home.

New York state dropped from No. 1 to No. 2 with 51 Fortune 500 companies. California is in third place with 50.

Houston and Dallas made the list of the nation's top five municipalities, with 21 and 11 headquarters respectively. Exxon Mobile of Dallas is the highest-ranking Texas company at No. 6. Phillips 66 was the top Houston firm at No. 29.

Houston-based Phillips 66 ranks at No. 29 in the 2022 Fortune 500.Photo: Phillips 66

Having so many diverse Fortune 500 companies headquartered in Texas is an important indication of the strength and durability of the state's economy, said Robert Allen, president and CEO of the Texas Economic Development Corporation.

Texas is the world's ninth largest economy with $1.985 trillion in gross domestic product. The Fortune 500 represents two-thirds of the nation's GDP with revenue of $16.1 trillion. The companies employ 29.7 million people worldwide.

Houston-based companies on the list based on 2021 revenue:

29. Phillips 66
70. Sysco
77. ConocoPhillips
88. Plains GP Holdings
89. Enterprise Products Partners
123. Hewlett Packard Enterprise
133. NRG Energy
135. Occidental Petroleum
170. Baker Hughes
193. EOG Resources
203. Waste Management
216. Targa Resources
223. Kinder Morgan
233. Cheniere Energy
241. Halliburton
273. Group 1 Automotive
285. Quanta Services
320. Westlake
414. CenterPoint Energy
431. APA
460. KBR

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