Valley-based Sprouts, Taylor Morrison, Carvana debut on Fortune 500
PHOENIX – Three companies with metro Phoenix headquarters made their debuts Wednesday in the Fortune 500, a prestigious annual ranking of the country’s largest businesses.
Grocery chain Sprouts, home builder Taylor Morrison and online used car dealer Carvana brought Arizona’s Fortune 500 representation to eight, all from the Valley, for the 2021 edition.
The newcomers joined tech wholesaler Avnet (No. 168), mining giant Freeport-McMoRan (No. 215), waste management company Republic Services (No. 297), information technology specialist Insight (No. 360) and Magellan Health (No. 390).
Insight is headquartered in Tempe, and the other holdovers are in Phoenix.
Phoenix-based Sprouts led the debuts at No. 436, followed by Scottsdale-based Taylor Morrison at No. 452 and Tempe-based Carvana debuted at No. 483.
Carvana, which was founded in 2012 and is known for its vehicle “vending machine” towers, became one of the youngest companies to ever crack the Fortune 500, behind only Amazon and Google.
Two other Valley businesses, Microchip Technology and ON Semiconductors, landed just outside the top 500.
Walmart held onto the top spot in the 67th edition of the Fortune 500, with Amazon, Apple, CVS Health and UnitedHealth Group rounding out the top five.
The magazine’s annual rankings, first published in 1955, are based on annual revenues and include both public and private companies.