Exxon Retakes Top Spot in Fortune 500

Wal-Mart slips to second in 'worst-ever' year for the 500
By Rob Quinn,  Newser Staff
Posted Apr 20, 2009 6:00 AM CDT
Exxon Mobil has unseated Wal-Mart Stores to top the 2009 Fortune 500 list after a year the magazine called the worst ever for the country's 500 largest publicly traded companies.    (AP Photo/Lisa Poole, file)
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(Newser) – Exxon Mobil snagged a whopping $443 billion in revenue to unseat Wal-Mart from the top spot in this year's Fortune 500 list, CNN reports. The two behemoths thrived on jacked-up oil prices and the recession respectively, but the picture was a lot bleaker for most of the rest of the 500—overall earnings took a record 85% dive to $98.9 billion from $645.2 billion the year before.

Microsoft came in third place, followed by ConocoPhillips, General Electric, and General Motors. Some 128 companies on the list had losses for a total of $519.3 billion, up from 57 companies losing a total of $116.7 billion in 2007. AIG, ranked as biggest loser, plummeted from No. 13 to No. 245. "America is getting used to the sound of bubbles bursting," Fortune said.