Key facts
- Twelve Fortune 500 companies have histories older than 200 years.
- The Bank of New York (BNY) was founded in 1784.
- Cigna Group and State Street Corporation were founded in 1792.
- Molson Coors Beverage Company traces its origins to 1774.
- Financial institutions and insurance companies are the most common sectors among these long-standing firms.
- Nearly 50% of companies fail within five years.
As the United States approaches its 250th anniversary, several Fortune 500 companies are celebrating even longer histories, with some tracing their origins to the 18th century. The Bank of New York (BNY) was founded in 1784, followed by Cigna Group and State Street Corporation in 1792. Molson Coors Beverage Company's roots go back to 1774 in England and 1786 in Canada. Experts like Richard Sylla, professor emeritus at NYU Stern School of Business, attribute this longevity to selecting resilient industries, such as banking and insurance, and maintaining adaptable leadership that navigates economic downturns and technological shifts. This contrasts sharply with modern business survival rates, where nearly half of companies fail within five years. Financial institutions like JPMorgan Chase and Citigroup, alongside insurance companies like Cigna and Hartford Insurance Group, exemplify this long-term endurance. Leaders such as Jamie Dimon of JPMorgan Chase are noted for their forward-thinking caution, while State Street emphasizes strategic discipline. Cigna's CEO David Cordani highlights the company's evolution from insuring ships in 1792 to a modern health services company, maintaining a clear purpose throughout its over 230-year history.