The Fortune 500 Headquarters: Where are they in 2026?

by Coy Davidson | June 20, 2026

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Most Fortune 500 Headquarters Cluster in Three States and Texas Now Leads

Texas tops the 2026 Fortune 500 for the first time, claiming 57 headquarters to California’s 56 and generating $2.8 trillion in revenue versus California’s $2.7 trillion. New York City leads all metros with 53 but trails both states in count. Together, these three states account for a disproportionate share of the largest companies in the country, and the reasons are structural, not coincidental.

Texas built its advantage on no state income tax, lower operating costs, and a diversified economy spanning energy, technology, and healthcare. Houston and Dallas-Fort Worth anchor the state’s corporate base, and Austin has become a relocation magnet: Tesla and Oracle both moved their headquarters there, and the pipeline hasn’t stopped.

California, despite slipping to second in total count, remains the global center of technology and innovation. Silicon Valley draws the largest tech companies in the world, while Los Angeles and San Francisco add depth across industries ranging from entertainment to finance.

New York City’s 53 headquarters reflect a different kind of dominance. It is the world’s financial capital, and its Fortune 500 roster reflects that: banking, insurance, media, healthcare, and retail all have significant presence.

Houston Ties Chicago for Second Place Nationally and Outearns It by Nearly 2x

Houston’s metro count reaches 27 Fortune 500 companies this year, matching Chicago after the city dropped three. The revenue comparison makes the tie misleading: Houston’s companies generated nearly twice Chicago’s total, reflecting the scale of firms like Exxon Mobil (No. 9) and Chevron (No. 21), both of which completed headquarters relocations to Houston in 2023 and 2024 respectively. Six Fortune 500 companies have relocated to Houston since 2020.

Later this year, Expand Energy (No. 362) relocates from Oklahoma City to Spring, Texas, pushing Houston to 28 companies and sole possession of the No. 2 metro ranking nationally.

What This Means for Commercial Real Estate

Fortune 500 relocations are a leading indicator for office demand, and Texas is the clearest beneficiary in the country right now. When a company of Exxon Mobil’s or Chevron’s scale moves its headquarters, it doesn’t just lease a floor. It anchors a campus, drives supplier and vendor clustering, and pulls mid-market occupiers looking to be near their largest clients.

Houston’s Energy Corridor and The Woodlands submarkets have all seen this dynamic play out. The Woodlands in particular, where Exxon Mobil built its 385-acre campus, has become a case study in how a single Fortune 500 commitment reshapes an entire submarket’s office fundamentals.

Dallas is watching the same trend. With 24 Fortune 500 headquarters, it remains a top-five metro nationally, and continued in-migration from California and the Northeast keeps is driving demand in the office market. While technically not all corporate headquarter relocations we have seen major corporate campus announcements from financial giants such as:

Goldman Sachs: 5,000+ employee campus
JPMorgan Chase: 12,500+ employees at its Plano campus
Wells Fargo: 4,500 employees at its new Irving campus
Citi: 11,000 employees in Irving
Bank of America: New trophy tower under development

These are not satellite offices. They are major operational hubs housing trading, investment banking, wealth management, technology, risk management, and corporate functions.