 The number is nearly cut in half, with two more Michigan companies dropping off of the prestigious 2024 rankings based on revenue. A total of 16 Michigan companies made this year's Fortune 500 list, a figure that has declined for two years in a row. The state's biggest Fortune 500 casualty came at the hands of Kellogg Company, splitting its cereal, snacks, and plant-based food business into separate companies and moving the bulk of its operations out of Battle Creek to Chicago.