August 1, 2016 / Fortune Asia / Volume 174 / Number 2 / GLOBAL 500

features

Fortune Global 500

40 Beware the Almighty Dollar
A historic surge in the value of the greenback had a profound impact on this year’s Global 500 list. Its continued strength could prove to be a huge drag on the U.S. economy.
By Shawn Tully

44 Can Big Still Be Beautiful?
In an era when ”conglomerate” has become a dirty word, Johnson & Johnson is making the case that heft and breadth can be virtues. Here’s how a 130-year-old heavyweight is learning to defy gravity.
By Erika Fry

54 Glencore Digs Out of the Abyss
The commodities behemoth faced a crisis last year as prices of metals, grains, and petroleum products・as well as the company’s stock price用lummeted. A rare inside look at how the secretive Swiss giant survived and how it plans to thrive again in a post-boom world.
By Vivienne Walt

64 The AIDS Activist and the Banker
Brothers Jes and Peter Staley worked together at J.P. Morgan. One rose to become a top executive and is now the CEO of Barclays. The other became an AIDS activist who changed his brother-and then the world.
By Patricia Sellers

F-1 The List

The world’s 500 largest corporations.

F-11 Winners and Losers

F-12 Notes

F-13 How the Companies Stack Up

F-15 Ranked Within Countries

F-21 Index

departments

MACRO

4 Closer Look
Hosting the Olympics is a terrible deal. Which raises the question for more cities: Why bother?
By Ryan Bradley

7 Lone Star Blues
The oil bust has Texas luxury retailers feeling the pain.
By Phil Wahba

9 Silicon Desert
America’s hottest new automotive city is ... Phoenix?
By Sue Callaway

10 The 21st-Century Corporation
To expand their reach, today’s biggest companies rely on connections more than industrial production.
By Joshua Cooper Ramo

TECH

12 Person of Interest
Meet Grab CEO Anthony Tan, the Southeast Asian ride-hailing king.
By Kia Kokalitcheva

INVEST

13 Global Stocks
Where to invest after Brexit.
By Lauren Silva Laughlin

17 THE BIG THINK
Britain’s decision was a setback for the global economic order. Here’s how GE plans to keep growing in a protectionist world.
By Jeff Immelt, chairman and CEO of GE

PURSUITS

19 The Road to Wellness
On your next trip, take your best habits with you and follow these 10 tips for healthier travel.
By Christopher Tkaczyk

20 Black Book
An insider’s guide to Miami, melting pot of the Americas.
By Adam Erace

96 BING!

CORRECTION

”Citigroup Does ’Fintech’ ” (July 1) said incorrectly that Microsoft bought Intuit. Microsoft had a deal to buy Intuit in 1994, but the acquisition was never completed.

ON THE COVER: ILLUSTRATION BY PAUL MARTINEZ

[IMAGES]

A copper sample from a Glencore-controlled mine in the Democratic Republic of the Congo
PER-ANDERS PETTERSSON

Miami’s Wynwood neighborhood has been revived by a burgeoning art scene. See Black Book, page 20.
RICHARD CUMMINS-GETTY IMAGES

ｩ Time Inc.