For nearly two decades, Walmart held the title of the United State’s largest company by revenue – often referring to itself as a “Fortune 1” company. But this February, Amazon, roughly half the age of Walmart, crowned itself the new Fortune 1, officially surpassing Walmart’s annual revenue by ~$3 billion. Amazon, having grown from an online bookseller started in Jeff Bezos’ garage to a behemoth dominating in cloud computing, artificial intelligence and entertainment to online sale, is simply growing at a faster rate. The company expanded 12.4% last year compared with Walmart’s 4.7%, delivered its fastest speeds in 2025 as 100 million people ordered items for same-day delivery, injected cash into new high-ticket categories such as luxury handbags and even cars, and also earned much of its profit from non-retail operations (cloud computing, advertising, and fees from third-party sellers). Meanwhile, Walmart gets the bulk of its sales and profits from U.S. stores. The transition is already showing up in internal adjustments, with Walmart reportedly removing mentions of its “Fortune 1” status from job postings.