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 Vigil for Lorenzo Salgado Araujo
Join several Austin labor unions and community members to honor Lorenzo Salgado Araujo’s life and the countless immigrants who have been impacted by ICE.
The community vigil will take place at the Wildflower Church on Saturday, July 11th starting at 6 PM. All are welcome to bring flowers and candles as we honor the loss of life and grieve the separation of families.
Community Vigil Details
🗓️ July 11, 2026 | 6:00 – 8:00 PM
🗺️ 1314 E Oltorf St, Austin, TX 78704
🚗 Public transit and rideshare encouraged! Limited parking available and overflow parking may be available at Travis High School.
Please consider donating to the family’s GoFundMe if you are able: https://bit.ly/atx4lorenzo
Austin, TX
Think tank says state education reforms have set up future of the ‘Texas Miracle’
AUSTIN (KXAN) — A report released by the think tank Texas 2036 claims that ten state laws implemented between 2019 and 2025 led to “one of the nation’s most comprehensive strategies for connecting education to careers.”
The report is titled “The Next Generation of the Texas Miracle.” It can be read below.
Mary Lynn Pruneda, Texas 2036’s director of education and workforce policy, said in an announcement accompanying the report that the reforms have been steps in the right direction.
“Texas has a bright economic future ahead of it, but we have to make sure that Texas students are equipped to share in this prosperity,” she said. “Texas needs to double down on improving and investing in high-quality career pathways so that all Texas students can take part in the Texas Miracle. Thankfully, due to the Legislature’s great work over the past four sessions, we are on our way to that critical goal.”
The report gives several data points, such as a 532% increase in high schoolers earning “post-secondary credentials” since 2018, or that community colleges awarded 140,000 “credentials of value” in 2024.
It paints a rosy picture of the future Texas economy, but doesn’t source its data or explain how it reached these conclusions. It’s apparent that the think tank wants further laws related to Texas’ workforce and education.
“Texas 2036 is actively engaged in that process, pushing for data modernization and interoperability reforms that would allow the state to track whether credentials are meeting real employer needs in communities across the state,” said the think tank in its announcement.
Grace Atkins, policy advisor of postsecondary education for Texas 2036, called the think tank’s report “encouraging.”
“The early results are encouraging: more students are earning credentials that can help them move into good jobs, and that is real progress,” she said. “For students and families, these pathways can be the difference between getting by and getting ahead. The next step is making sure more Texans can earn credentials that lead to strong wages, real career options and greater economic mobility.”
Austin, TX
Austin cannabis shop: THC ban would “hurt everybody”
AUSTIN, Texas — After Senator Charles Perry vowed to introduce another bill to ban THC in Texas next legislative session, an Austin cannabis shop owner is urging lawmakers to find a middle ground.
Estella Castro owns Austinite Cannabis Co., a family-owned shop that makes and sells cannabis and hemp products.
Austinite Cannabis Co. (Photo: CBS Austin/Audrey Wong)
Her business has faced a potential THC ban before. During the 2025 legislative session, Senate Bill 3 attempted to enact a broad ban on all cannabinoids except CBD and CBG.
Castro says she was most worried for her customers. “It was a big initial hit of like, what are we gonna do? How are we gonna pivot? How are we gonna keep the doors open for everybody to keep their jobs?” she said.
RELATED | Texas state senator plans to introduce new THC ban bill in upcoming session
That bill passed, but was later vetoed by Governor Greg Abbott. Similar legislation failed to pass during the subsequent special session.
However, the possibility of a total ban bill being introduced and passed next session could spell trouble for Austinite Cannabis.
During a hearing Tuesday, July 7, Senator Charles Perry vowed to present such a bill next session as public officials, medical experts, and others discussed THC’s medical uses, effects on minors, and regulation.
Castro says over half of the store’s revenue comes from products that contain THC.
“I would say it’s about a 60/40 split: 60% THC and 40 CBD… So feel like it is a huge number that affects my store in so many ways,” she said.
ALSO | Texas French Bread reopens dining room four years after fire
She feels that a total ban on THC would negatively affect multiple parties.
“Banning it is just hurting the consumer,” she said. “Making the consumer go and find a street dealer… killing any dispensaries… it’s gonna hurt your small business owner.”
If another THC ban bill is written, it will be introduced during the next legislative session, which begins in January 2027.
In the meantime, Castro’s two stores will continue to operate as normal. She hopes lawmakers will think twice about instituting a complete ban on THC.
“I feel like we’re better than that, you know, we’re Texas,” she said. “We need to find some middle ground where it’s not a complete ban, and we can still be able to come together.”
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