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The Latest Breaking News from Fortune

A Gen Xer sold his company for $1.6 billion. He kept less than $100 million and gave the rest away because he doesn't 'believe in billionaires'

EXCLUSIVE: Brian O’Kelley says he’s capped his wealth to $100 million. The tech founder tells Fortune, billionaires are wasteful, out of touch, and “othered” from real life.

Fortune

AI experts return from China stunned: The U.S. grid is so weak, the race may already be over

China is “set up to hit grand slams,” longtime Chinese energy expert David Fishman told Fortune. “The U.S., at best, can get on base.”

Fortune

In this economy, even the affluent are a 'more cautious consumer,' Sweetgreen CEO warns. Chipotle and Cava are hurting too

The core issue: "I think it’s pretty obvious the consumer is not in a great place overall," Sweetgreen CEO Jonathan Neman said.

Fortune

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Chili’s has poured $105 million into its marketing budget in just 3 years—and sales are sizzling

The casual-restaurant chain saw traffic and sales boosts last quarter.

Fortune

Harvard study reveals airlines padding schedules as long flight delays quadruple since 1990

“It’s kind of a pessimistic story,” Maxwell Tabarrok said.

Fortune

Exclusive: Former Goldman Sachs exec heads to crypto startup founded by former Meta engineers

Mustafa Al Niama was head of the Americas division of Goldman Sachs’ digital assets desk.

Fortune

BlackRock exec Rick Rieder says this is the ‘best investing environment ever.’ He’s conveniently in the running for next Fed chairman

While Rieder’s dovish stance aligns with President Trump’s, the BlackRock exec’s acknowledgment of tariff-driven inflation may test his appeal at the White House.

Fortune

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There’s one small problem with Trump’s export deal with Nvidia and AMD: The Constitution says it’s illegal

Also: All the news and watercooler chat from Fortune.

Fortune

Perfect storm to hit Obamacare: Millions of Americans could see insurance premiums surge 75% in 2026

Surging medical costs, pricey new drugs, and the looming end of enhanced subsidies could push ACA Marketplace premiums to their highest levels in years.

Fortune

Is Perplexity the next Google?

Perplexity's AI web browser, Comet, is mighty impressive, but the company also made an audacious $34.5 billion unsolicited bid to buy Chrome off Google.

Fortune

The gap between higher- and lower-income households is widening as inequality progress since pandemic has ‘gone into reverse,’ BofA economist says

Coming out of the pandemic, Bank of America Institute’s David Tinsley tells Fortune, “there was a narrowing of wealth inequality, and now it’s widening.”

Fortune

Even a 1% mortgage rate drop could be enough to 'unlock' the frozen housing market, Oxford Economics says

A lower rate should be “enough of an incentive” for some homeowners to sell their homes and trade up, opening up inventory.

Fortune

Switzerland warns its companies that no, they can't dodge Trump's tariffs by routing goods through the tiny neighboring country of Liechtenstein

The two neighbors have had a century-long treaty allowing Liechtenstein to share Switzerland’s economic area and engage in free trade.

Fortune

How Binance’s Yi He became ‘the most powerful woman in crypto’—and steered the company past its biggest ordeal

In 2023, Yi He had to face down an enormous business challenge at Binance—one that was very personal as well.

Fortune

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International Business Times UK

Shark Tank's Kevin O'Leary: Why 'Mr. Wonderful' Says Being Liked Is Overrated in Leadership — Lessons from Steve Jobs

Kevin O'Leary, 'Mr. Wonderful' of Shark Tank, explains why respect and results matter more than likability in leadership, drawing from Steve Jobs' example.

Fortune

In Trump’s year of cost-cutting and efficiency, national debt soars past $37 trillion

White House deputy press secretary Kush Desai told Fortune the debt-to-GDP ratio has fallen under Trump and will keep improving with pro-growth policies and record tariff revenues.

Fortune

Financial firms from Stripe to Circle are building their own blockchains—here’s why

Stripe is developing what it calls Tempo, and Circle announced Tuesday that it’s building a protocol called Arc.

Fortune

Rebecca Lynn spins out of Canvas Ventures to found Canvas Prime as solo GP

Canvas Ventures’ Rebecca Lynn is spinning out into a new firm as a solo GP, she exclusively told Fortune.

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news in one place.

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Fortune

Successful CEOs use ‘the rule of 5’ to create and keep new habits, says the career coach to the Fortune 500

If you can count to five, you have the tools to implement a change, says Bill Hoogterp.

Fortune

How CEOs deal with Trump: Praise, face time, remorse, and gifts made of gold all go a long way, experience shows

Also: All the news and watercooler chat from Fortune.

Benzinga

Anthony Scaramucci Shares Warning About MAGA 'Going Marxist And Maoist' — Yale Professor Alleges 'Assault On Free-Market Capitalism'

Former White House Communications Director during President Donald Trump’s first term in office, Anthony Scaramucci, has endorsed a Fortune Magazine column warning that Trump and the MAGA movement were increasingly “going Marxist and Maoist.”

Fortune

Ford's $5 billion bet on the 'Model T' of EVs could cost the company 'billions' more if it fails, analysts warn—mounting losses from its Model E woes

Should the American auto brand fail to bring its lofty EV vision to life, “it could be terminal for the brand,” one analyst told Fortune.

Fortune

Jerome Powell’s job just got a whole lot easier as inflation data sidesteps disaster

July inflation data suggests the FOMC’s dual mandate may not be in as much of a pickle as economists previously feared.

Fortune

Self-made multimillionaire behind $4 billion Skims empire says she was ‘using AI like a 42-year-old woman’—until Mark Cuban gave her a wake up call

EXCLUSIVE: Self-made multimillionaire Emma Grede—cofounder of Skims and Obama Foundation board member—is known for building billion-dollar brands. But she tells Fortune she was using AI like a search engine until fellow Shark Tank star Mark Cuban gave her a "kick."

Fortune

Exclusive: Profound raises $35M as Sequoia backs its ambitious bid to become the Salesforce of AI search

The startup wants to help brands stay visible as AI reshapes search, in what backers call a once-in-a-generation marketing shift.

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