17 Minnesota Companies Just Made the 2025 Fortune 500 List
The new list is out, and once again, 17 of the top 500 companies in the country can be found right here in Minnesota again this year.
Fortune is a business magazine and website that's been ranking companies in the U.S. according to their revenue for over 70 years, and it's quite an achievement to land a spot on their top 500 list. In addition to bragging rights, it means your business can call itself a 'Fortune 500 company.' And again in 2025, 17 firms here in the Land of 10,000 Lakes can make that prestigious claim.
According to PR Newswire, Fortune said that the top 500 companies on its list in 2025 provided jobs for over 31 million workers overall, and generated a jaw-dropping $19.91 TRILLION revenue this year. (Yes, that's trillion, with a 't'!)
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Here in the North Star State, UnitedHealth Group is once again the highest-ranking company on the 2025 Fortune 500 list, coming in at #3 this year, up one spot from 2024. This 50Pros story says they have 400,000 employees and generated $400.3 billion in revenue last year.
One Minnesota company on last year's list didn't make the list this year: Polaris, which had been ranked at #431 last year, fell off the list in 2025. But it was replaced by Solventum, a spinoff of 3M's health care division. It debuted on the New York Stock Exchange in early 2024 and reported $8.2 billion in revenue last year, and made its debut at #462 on this year's Fortune 500 list.
Here's the full list of Minnesota companies on the 2025 Fortune 500 List, according to 50Pros:
#3 - UnitedHealth Group
#41 - Target
#105 - U.S. Bancorp
#108 - Best Buy
#115 - CSH
#174 - 3M
#216 - General Mills
#230 - Ameriprise Financial
#233 - C.H. Robinson Worldwide
#262 - Land 'O Lakes
#274 - Ecolab
#319 - Xcel Energy
#352 - Hormel Foods
#388 - Thrivent Financial for Lutherans
#462 - Solventum
#464 - Securian Financial
#492 - Fastenal
If you're curious why Minnesota's largest company, Cargill, doesn't appear on the list this year, it's because Cargill is a privately held company, which Fortune doesn't include in its rankings.
And here's what that means, according to Investopedia:
A private company is usually owned by the company's founders, management, or a group of private investors. A public company is a company that has sold all or a portion of itself to the public via an initial public offering.
So even though Forbes notes that Cargill isn't just the largest privately-held company in Minnesota-- it's also the largest in the entire U.S.-- it isn't included in the Fortune 500 list. Private companies like Cargill are responsible for creating some of the richest families in the country. Keep scrolling to see who they are!
