2 Austin businesses honored on Fortune’s list of most admired companies in the world
National business publication Fortune magazine is honoring several Austin-area employers for their admirable work.
Round Rock-based Dell Technologies ranks No. 125 on Fortune’s2022 list of the world’s most admired companies, and Austin-based Tesla comes in at No. 294.
The ranking is based on the magazine’s poll of about 3,700 corporate executives, corporate directors, and business analysts.
The No. 1 Texas company on the list is San Antonio-based financial services provider USAA, which ranks 25th on the Fortune list.
Dell employs about 158,000 people, has a footprint in 180 countries, and was ranked No. 28 on the 2021 Fortune 500 list.
Austin-based Tesla, which recently officially relocated its headquarters to Austin and started production at its billion-dollar east side vehicle manufacturing plant, most recently ranked No. 100 on the 2021 Fortune 500 list.
“Tesla remains the most valuable automaker in the world, with a market cap of nearly $600 billion,” as of May 2021, Fortune says, noting that the car company is continuing to cruise to new heights.
The Austin area’s big players earn acclaim from Fortune at a time when the overall tech industry is growing in scope and influence.
“Just as it dominates our economy, Big Tech now dominates Fortune’s annual ranking of corporate reputation,” the magazine says.
As for USAA, the company does plenty to draw admiration. For instance, in October, USAA raised the minimum hourly pay for its employees from $16 to $21.
“USAA’s employees are the heart of our association, and providing a competitive pay and benefits package is one way we reward them for providing exceptional service to military members and their families,” Wayne Peacock, president and CEO of USAA, said in a news release announcing the pay raise. “Increasing our minimum pay and enhancing our already comprehensive benefits package helps ensure we’re being responsive to our employees’ needs and dynamically changing market conditions.”
Overall, 18 companies from the Lone Star State appear on Fortune’s new list of the world’s most admired companies.
The others are:
- Dallas-based Southwest Airlines, No. 28.
- Westlake-based Charles Schwab, No. 47.
- Dallas-based AECOM, No. 55.
- Dallas-based AT&T, No. 77.
- Dallas-based CBRE Group, No. 103.
- Houston-based ConocoPhillips, No. 117.
- Houston-based EOG Resources, No. 140.
- Spring-based Hewlett Packard Enterprise, No. 164.
- Arlington-based D.R. Horton, No. 168.
- Dallas-based Jacobs Engineering Group, No. 179.
- Houston-based KBR, No. 186.
- Irving-based McKesson, No. 214.
- Houston-based Occidental Petroleum, No. 237.
- Houston-based Quanta Services, No. 253.
- Houston-based Waste Management, No. 318.