The Latest Breaking News from Fortune

California mints the most billionaires. A new index ranks it dead last on the freedom to give to charity

A scorecard puts the nation's wealthiest state at the bottom for its philanthropy policy.

Fortune · Aug 6

The SEC should ban the products behind South Korea's recent market meltdown

The SEC already knew, three years ago, that retail investors make up the vast majority of holders of single-stock leveraged ETFs.

Fortune · Aug 6

Fashion brands don’t just want to sell you new clothes anymore. They want the second sale, too

Secondhand apparel is on track to hit $393 billion by 2030—and brands no longer want eBay and Poshmark collecting all of it.

Fortune · Aug 6

In its first deal since going public, Italian unicorn Bending Spoons buys Airtable at a $9 billion discount

Airtable was valued at $11 billion during its 2021 boom.

Fortune · Aug 5

Feds accuse crypto founder of stealing $10 million from NFT investors, spending it on Miami condo and DJ hobby

The founder of NFT marketplace Few and Far allegedly promised 427% returns to 67 investors.

Fortune · Aug 5

Demis Hassabis steps down from Google DeepMind CEO role amid a major AI leadership shake-up

Google DeepMind is undergoing a major restructuring following model delays and a string of high-profile exits.

Fortune · Aug 5

Hitachi's CIO says the Japanese conglomerate's enterprise AI strategy isn't one-size-fits-all

While AI tools like Microsoft Copilot and Anthropic's Claude Code have been embraced, there isn't yet a single, enterprise-wide AI tool used by Hitachi's 290,000 global workforce.

Fortune · Aug 5

'Socialism is a disaster': Bill Ackman says Zohran Mamdani's bad left-wing housing policy is worsening New York's affordability crisis

"Left-wing mayors have made it very difficult for developers to build here," Ackman told Fortune. He highlighted Ken Griffin as a key example.

Fortune · Aug 5

The Trump administration has doled out $100 billion in tariff refunds, but Americans are suing U.S. companies for not seeing a penny of the returns

Customers of Five Below, Sony, and Nintendo have filed class action lawsuits demanding they receive refunds from the struck-down import taxes.

Fortune · Aug 5

Locked out of housing, Gen Z and Millennials are building wealth in the stock market instead as they reach record high $3.1 trillion in holdings

Experts warn brokerage accounts lack a mortgage's forced savings discipline and carry other risks

Fortune · Aug 5