Michael B. Sauter
Rome was not built in a day – and neither are multi-billion dollar corporations. The Fortune 500 list of the largest U.S. public companies by revenue is dominated by decades-old and even century-old companies.
Still, there are a handful of exceptions. Every year, new startups are formed and conglomerates are restructured – and in some cases, these companies soon report revenues high enough to rank among the largest U.S. companies. 24/7 Wall St. reviewed a range of sources, including the Fortune 500, to identify America’s biggest companies that did not exist 10 years ago. Companies are listed by revenue in ascending order.
While there have been dozens of notable startups in the last decade, many that might yet make the Fortune 500, every company large enough to rank on this list was formed after a larger company divested some of its business. In these cases, the billions of dollars in annual revenue are largely attributable to the customer base and infrastructure established when the company was part of a larger conglomerate.
It is important to note that while this list includes companies that spun off from larger ones, we did not consider companies formed after a merger.
Each of the companies on this list is headquartered in the United States, and many have operations across the country and around the world. Here is a list of the largest company by revenue in each state.
9. Brighthouse Financial
• Founding date: Aug. 2017
• Latest annual revenue: $6.6 billion
• Industry: Insurance
Insurance provider Brighthouse Financial began operating on Aug. 7, 2017, as a spinoff from MetLife. The company operates what was formerly MetLife’s U.S. retail insurance segment, which largely consists of life insurance and annuities. MetLife retained a 19.2% stake in Brighthouse. In fiscal 2019, Brighthouse reported $4.6 billion in revenue from annuities, $1.3 billion from life insurance, $2.0 billion from run-off insurance, and $176 million in other revenues. However, after adjustments related to different matters, including investments, the company reported $6.6 billion in revenue in fiscal 2019, ranking 457th on the Fortune 500.
8. Fortive
• Founding date: July 2016
• Latest annual revenue: $7.3 billion
• Industry: Industrial technology
Fortive, an Everett, Washington-based industrial technology company, was formed in July 2016 as a spinoff from Danaher Corporation, a Washington, D.C.-based science and technology conglomerate. Today, the multi-billion dollar company has facilities in more than 50 countries on four continents. It operates in multiple business segments, including transportation technologies, automation, professional instrumentation, and sensing technologies.
7. Huntington Ingalls Industries
• Founding date: March 2011
• Latest annual revenue: $8.9 billion
• Industry: Defense
Virginia-based aerospace and defense…
Read More: Companies that did not exist a decade ago include successful spinoffs