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.

In former FC Dallas midfielder Michel’s first match as North Texas SC’s new interim manager, the club played to a 3-3 draw after regulation against Austin FC II. NTSC then went on to win the shootout to claim the two points from the match.

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In the 79th minute, FC Dallas Homegrown Tarik Scott scored his team-leading seventh goal of the season. Scott has scored two of his seven goals this season at Choctaw Stadium. He is tied for third in the MLS NEXT Pro Golden Boot race, just two goals off first place.