RICHMOND, Va. — Richmond almost got its seventh Fortune 500 company in this year’s rankings by Fortune magazine.
Just four spots separated Glen Allen-based insurer Markel Corp. from the list of the top 500 corporations in the country, as ranked by Fortune according to annual revenue from the previous year. The list was published Thursday.
Markel jumped 66 positions this year, from 570 to 504, fueled by an increase in revenue of $5.13 billion, or 18 percent, and an increase in profits of $321 million, or 14 percent.
Richmond’s usual six maintained their presence on the list, as they have since at least 2007: tobacco giant Altria Group, which came in at 169; used car seller CarMax, 232; utility Dominion Resources, 243; insurer Genworth Financial, 304; healthcare wholesaler Owens & Minor, 309; and packaging giant MeadWestvaco, 464.
Among them, only CarMax improved its ranking, from 240 last year to 232 this year, surpassing Dominion as Richmond’s second-highest earner with $13.12 billion in revenue. The power company fell from 212 to 243 this year.
Altria dropped eight spots from its 161 ranking last year. Genworth fell 13 spots from 291 last year.
Click to keep reading on RichmondBizSense.com.