Black CEOs lead 11 Fortune 500 companies, a record high

Black chief executives now lead 11 companies on the Fortune 500, the highest count recorded for the ranking, according to Fortune. The figure is still a small share of the list: Fortune said those leaders run 2% of the largest U.S. companies by revenue.

Fortune reported that the number of Black Fortune 500 CEOs has doubled since 2021. The companies they lead generated more than $427 billion in total revenue and had a combined market value of $405 billion, according to Fortune.

The wider Fortune 500 now accounts for $21 trillion in revenue and 30.5 million employees, Fortune said. Since the ranking began in 1955, Fortune said it has tracked more than 2,000 CEO changes, while only 28 chief executives on the list have been Black.

Women hold 11% of Fortune 500 CEO jobs, or about 55 companies, according to Fortune. Fortune said two of the current Black Fortune 500 CEOs are women: Thasunda Brown Duckett of TIAA and Joi Harris of DTE Energy.

The gap is broader than the CEO ranks. A 2021 McKinsey study of 24 companies covering about 3.7 million workers found Black employees made up 14% of the workforce but 7% of managers. McKinsey said representation fell to between 4% and 5% at the vice president, senior vice president and senior manager levels.

Pew Research Center reported that the Black population in the United States reached 48.3 million in 2023, up 33% from 2000.

The 11 CEOs Fortune identified

Peter Akwaboah, Fannie Mae: Fortune said Akwaboah is acting CEO after Priscilla Almodovar stepped down in late 2025. Fannie Mae ranks No. 26 on the Fortune 500.
Marvin R. Ellison, Lowe’s: Fortune said Ellison has led Lowe’s since 2018 and is the first Black CEO to lead two different Fortune 500 companies. Lowe’s ranks No. 52 and generated $84 billion in 2025 revenue, according to Fortune.
Thasunda Brown Duckett, TIAA: Fortune said Duckett became CEO in 2021 and is the first woman to lead TIAA. The company ranks No. 94 and reported $51 billion in 2025 revenue, according to Fortune.
Christopher C. Womack, Southern Company: Fortune said Womack became CEO in 2023 and leads the energy provider, which ranks No. 152.
Calvin Butler, Exelon: Fortune said Butler became CEO in 2023 after joining Exelon in 2008. Exelon ranks No. 189.
David P. Bozeman, C.H. Robinson Worldwide: Fortune said Bozeman became CEO in 2023 after roles at Ford Motor and Amazon. The transportation and logistics company ranks No. 277.
Joi Harris, DTE Energy: Fortune said Harris became president and CEO in September 2025 after serving as chief operating officer. DTE Energy ranks No. 285.
Michael Bender, Kohl’s: Fortune said Bender became CEO in November 2025 after serving as interim chief executive. Kohl’s ranks No. 289.
René F. Jones, M&T Bank: Fortune said Jones joined M&T in 1992, became chief financial officer in 2005 and CEO in 2017. The bank ranks No. 334.
Frederick M. Lowery, Henry Schein: Fortune said Lowery became CEO in March 2026 after more than two decades at Thermo Fisher Scientific. Henry Schein ranks No. 335.
David L. Rawlinson II, QVC Group: Fortune said Rawlinson became CEO in 2021. QVC Group, the parent of QVC and HSN, ranks No. 433.

This story draws on original reporting from Fortune.