Texas is now home to the headquarters of 57 Fortune 500 companies with a combined revenue of more than $2.8 trillion, as businesses continue to flee high-taxation states like California and New York.
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Just the News reports that California is home to 56 Fortune 500 businesses with roughly $2.7 trillion revenue while New York comes in third with 53 companies and $2.2 trillion.
Texas just surpassed California in terms of the number of Fortune 500 headquartered in the state. In less than 20 years Texas is expected to exceed California in terms of population. And by then, hopefully, the populations of both states will be 100% legal. pic.twitter.com/9xeG7NMhsE
— Bill Ross (@ThruTheNoise) June 6, 2026
Gov. Greg Abbott said in a statement, “Texas is the undisputed headquarters of headquarters.”
Abbott added, “The world’s leading businesses invest with confidence in Texas because of our welcoming business climate, predictable regulatory environment, and skilled and growing workforce. People and businesses are choosing Texas because Texas works.”
According to Fortune, the state added three Fortune 500 companies this year, bringing it to the 57 total, the highest total since 2010.
Meanwhile, the Census Bureau reports that Texas is one of the fastest-growing states in terms of population, having in 2025 added 391,243 residents, the highest number out of all 50 states.
Texas surpassing California is the result of businesses leaving California over the last few decades. Such businesses cite increasing corporate taxes, crushing regulatory burdens, and high cost of living for employees, according to Just the News.
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377 businesses have left California since 2005 with 152 heading to Texas, according to the California Policy Institute.
Fortune reports that the state has long been home to Fortune 500 staples such as Dell Technologies, Exxon, and AT&T, and the companies span the state.
Houston is home to 25 Fortune companies, including Chevron, Sysco, and Phillips 66; Dallas is the home base for 11 companies, including AT&T and CBRE Group; and the state capital Austin is home to two Fortune 500 companies, Tesla and Oracle.
Site Selection magazine said last fall, “The eighth-largest economy in the world has the best business climate in the U.S. Texas has once again emerged as the state most likely to succeed when it comes to attracting capital investment from the private sector.”
The magazine also described the Lone Star State’s business-friendly climate, stating “those charged with marketing Texas know they have an easy sell—no corporate tax, sensible business regulations, business-dedicated courts, unbeatable logistics infrastructure and a huge labor force, among other factors.”
The Center Square reports that Texas has led the nation in economic development every year of Greg Abbott’s governorship since 2015 and has been ranked the best state for business for 20 consecutive years, including several years before he took office.
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