Austin, TX
Three Austin area companies featured in Fortune 500 after impressive showing across Texas
As Austin continues to rise to prominence on the national stage, so too does its presence on lists like Forbes’ Fortune 500.
The last decade has seen the city’s tech environment continue to flourish, garnering the nickname “Silicon Valley of the South.” As a result, Austin now is home to three tech companies in the Fortune 500.
Here are the three Austin-Area companies that featured on the list of revenue giants, plus a look at how other Texas metros performed on the 2024 edition of the Fortune 500.
Austin-Area features three tech titans in Fortune 500
Austin icon Dell Technologies, now headquartered in Round Rock, slotted in at 48 on the Fortune 500. In the last year, Dell posted a revenue of $88 billion.
Perhaps the most notable Austin HQ’d company, Tesla, was also the highest-ranked company on the Fortune 500. The most valuable car company in the world produced a revenue of $96.7 billion in 2023, this is an 18.8% increase from the prior year.
Lastly, computer software company, Oracle, placed 89th on the list after generating a revenue of $49.9 billion in 2023 — $7 more than the company earned in 2022. The Austin transplant, which moved to the city in 2020, has posted record number in almost every year since moving to Texas’ capital.
While Oracle is currently located in Austin, it announced in April that it plans to move its headquarters to Nashville.
Texas metros boast a strong showing in Fortune 500
This year Texas was dethroned as the top state on the list. The Lone Star state’s West Coast rival, California, was featured 57 times in the 2024 edition of the Fortune 500. This is the first time since 2014 that the Golden State has topped the list, according to Fortune. Texas and New York tie for second, both with 52 companies.
Houston was a stand-out city for Texas as it featured the third most Fortune 500 companies on the list, with 21 entries, led by oil giants like Phillips 66 and ConocoPhillips. San Antonio was featured just twice on the list, but it contributed one of Texas’ highest-ranked companies — Valero Energy.
The Dallas-Fort Worth area was a big winner on the list. Despite multiple years of rocky headlines related to mass flight cancelations, Southwest Airlines found itself in the top 200. In Fort Worth, another airline featured as American Airlines, one of the highest-rated airlines in the country, came in at 86.
The DFW as a whole featured 10 total companies, nine of which Dallas contributed.
Fortune 500: Top 20 Texas companies
Below are the top Texas companies that made the Fortune 500 list and their rank:
- 7: Exxon Mobil
- 9: McKesson
- 26: Phillips 66
- 29: Valero Energy
- 32: AT&T
- 40: Tesla
- 48: Dell Technologies
- 51: Energy Transfer
- 54: Sysco
- 59: Caterpillar
- 68: ConocoPhillips
- 86: American Airlines Group
- 89: Oracle
- 90: Enterprise Products Partners
- 92: Plains GP Holdings
- 103: USAA
- 120: D.R. Hortom
- 137: HF Sinclair
- 138: CBRE Group
- 147: Hewlett Packard Enterprise
Beck Andrew Salgado covers trending topics in the Austin business ecosystem for the American-Statesman. To share additional tips or insights with Salgado, email Bsalgado@gannett.com.
Austin, TX
Austin community celebrates ‘Black Artists Matter’ mural before removal
AUSTIN, Texas — Austin city leaders gathered on East 11th Street on Juneteenth to celebrate the “Black Artists Matter” mural before it must be removed under an order from the Texas Department of Transportation. The mural and the city’s rainbow crosswalk are slated for removal in compliance with a Texas Department of Transportation directive requiring cities to remove political ideologies from roadways. Last October, Gov. Greg Abbott directed TxDOT to enforce the policy.
Austin Mayor Kirk Watson stood on the blocked-off street where the yellow letters spelling “Black Artists Matter” are painted on the roadway’s surface. “We will never forget that when the state decided to target our murals, the community stood together to celebrate our city’s diversity, spirit, and creativity,” Watson said.
Watson criticized the state’s actions, saying, “The state government engages in negative rhetoric and threats, it targets communities that it disagrees with and seeks retribution.”
In response to the order, Watson formed the Public Spaces Task Force to identify other ways to celebrate diversity in Austin.
ALSO| Screwworm medications straining animal shelter budgets across Texas
KEYE
Daphne McDole, chief executive officer of the African American Cultural Heritage District and a member of the task force, said she wanted the event held on Juneteenth because of its significance. “I wanted to do it on Juneteenth, it was significant to me because I knew that that was the day my community would be in the district. We will be celebrating over here all day, so it was appropriate,” McDole said.
Task force members said they are exploring alternatives to honor East Austin’s history and diversity. They noted that city leaders in San Antonio created rainbow sidewalks after removing rainbow crosswalks, but said Austin will pursue its own approach.
Task force chair Steven Rivas said the community is focused on preserving the meaning behind the markings. “We chose to come together as a community and find a way to respect what these markings mean and build upon them. If we can’t have them in the street, we’re going to put them off the street,” Rivas said.
Austin, TX
Screwworm medications straining animal shelter budgets across Texas
AUSTIN, Texas — The screwworm outbreak is having a major impact on animal shelter budgets across Texas. Instant kill and preventative medications for dogs and cats are an unprecedented expense.
Paul is a rescue dog from South Texas, where he was living on the streets and starving. He is now at Austin Pets Alive! getting Screwworm prevention medication and the treatment he needs to get healthy.
“Any dog that enters our shelter period, but especially if they look like this, we are going over them with a fine-tooth comb and looking for anything that might be a wound where a screwworm might have been able to gain access,” said Dr. Ellen Jefferson, CEO and President of Austin Pets Alive!
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Dr. Jefferson says dogs and cats need regular checks of their eyes, noses, ears, and underneath their fur. But Austin Pets Alive! says the best protection is a combination of Capstar, which is an instant-kill medication for existing active screwworm larvae, and prescription preventatives that provide ongoing protection when administered every 30 days.
“Just to buy the initial Capstar for our program, it was close to $10,000,” said Rebecca Giamona, Asst. Medical Care Director at Austin Pets Alive!
Giamona says preventative meds are also putting a heavy financial strain on the nonprofit’s budget at a cost of around $70,000.
“We need about 5,000 doses of the monthly preventative, and they are roughly $14 to $15 per dose,” said Giamona.
Products with the active ingredients ending in l, a, n, e, r are highly effective at preventing and treating infestations. But keeping Paul and every shelter animal up to date will take help from the public.
“Donations, and hopefully some more donations,” said Giamona.
An infestation of New World Screwworm can be painful, disfiguring, and potentially deadly for animals. Most cases involve livestock, especially cattle, but dogs and cats can also get infestations.
Austin, TX
Juneteenth celebrations in Austin include parade and fun run
AUSTIN, Texas – Central Texans gather to celebrate Juneteenth or “Freedom Day” on June 19 and commemorate the end of slavery.
What you can do:
The Greater East Austin Youth Association (GEAYA) is hosting the Central Texas Juneteenth Parade and Festival today (6/19).
It’s free and taking place at Rosewood Park in East Austin located at 2300 Rosewood Ave.
The schedule for the events is as follows:
- ACME Juneteenth FunRun – 8:30 AM – 9:30 AM
- Juneteenth Historical Parade – 10 AM – 12 PM
- Park Celebration and Fireworks – 12 PM – 9:45 PM
Other events
On June 20, the Carver Kickback: Juneteenth Edition will be taking place 11 a.m. to 4 p.m. at the George Washington Carver Museum, Cultural, and Genealogy Center located at 1165 Angelina Street.
It will be a day of celebration and remembrance and there will be BBQ plates and music as well as vendors and hands-on activations.
The backstory:
Juneteenth commemorates the end of formal slavery in Texas on June 19, 1865, two and a half years after President Abraham Lincoln signed the Emancipation Proclamation on January 1, 1863, and more than one month following the end of the American Civil War.
Colloquially known as “The Black 4th of July,” Juneteenth marks the beginning of an African American journey to carve a new place in society for free people to shape identities independent of racial caricature, eradicate slave culture, promote ethnic pride, and create economic prosperity.
The Source: Information from City of Austin and Greater East Austin Youth Association and reporting by Jessica Rivera.
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