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'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

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Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

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Current price of oil as of July 24, 2026

1

'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

2

Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

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Current price of oil as of July 24, 2026
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Fortune Magazine Masthead: January 14, 1980 (Vol. 101, No. 1)

Fortune Editors
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Fortune Editors
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January 14, 1980, 1:00 AM ET
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Time Inc.

EDITOR-IN-CHIEF Henry Anatole Grunwald

CHAIRMAN OF THE BOARD Andrew Heiskell

PRESIDENT James R. Shepley

EDITORIAL DIRECTOR Ralph Graves

GROUP VICE PRESIDENT, MAGAZINES Arthur W. Keylor

VICE CHAIRMAN Arthur Temple

FOUNDER Henry R. Luce, 1898-1967

Fortune

MANAGING EDITOR Robert Lubar

ASSOCIATE MANAGING EDITOR Daniel Seligman

EXECUTIVE EDITORS Richard Armstrong, Paul B. Finney

ASSISTANT MANAGING EDITORS William Bowen, Allan T. Demaree

ART DIRECTOR Ronald N. Campbell

BOARD OF EDITORS Tom Alexander, Robert Ball (European editor), Evelyn Benjamin, Gumey Breckenfeld, Juan Cameron (Washington), A. F. Ehrbar, Edmund Faltermayer, Walter Guzzardi Jr., Donald D. Holt, Emmet John Hughes, Mary E. Johnston, Louis Kraar, Carol Junge Loomis, Todd May Jr., Walter McQuade, Harold Burton Meyers, Herman Nickel (Washington), Sanford S. Parker, Wyndham Robertson, Roy Rowan

ASSOCIATE EDITORS Peter W. Bemstein, Vivian Brownstein, Charles G. Burck, Gene Bylinsky, Lorraine Carson, Mary Greenebaum, Linda Synder Hayes, Ann Hengstenberg, Patricia Hough, Walter Kichel III, Patricia A. Langan, Arthur M. Louis, Edward Meadows. Hugh D. Menzies, Herbert E. Meyer, Alicia Hills Moore, Aimee L. Morner, Jane A. Mull, Susie Gharib Nazem, Peter Nufty, John Quirt (Los Angeles), Lenore Schiff, Lee Smith, Kathleen Carroll Smyth, Stephen Solomon, Alexander Stuart (Houston). Jo Thomson, Eleanor Johnson Tracy, Bro Uttal, Marilyn Wellemeyer.

REPORTER/RESEARCHERS Andrew Baird, Andrea Ball, Rosalind Klein Berlin, Peter Bohr, Andrew C. Brown, Anna Cifelli, Geoffrey Colvin, Seth Cropsey, John J. Curran, Marta Fitzgerland Dorion Peter Dworkin, Hugh M. Hyde Jr., Susan Kinsley, Richard I. Kirkland Jr., Renée Leggett, Nancy Martin, Philip Mattera, Lisa Miller Mesdag, Ann M. Morrison, Peter David Petre, Carla Rapoport, Fay Rice, Stratford P. Sherman, Pamela Sherrid, Shawn Tully, Margot Wellner, Grant F. Winthrop, Suzanne Wittebort, Wilton Woods.

CORRESPONDENTS London: Frank Melville; Rome: Walter Galling; Zurich: David B. Tinnin; Tokyo: Frank Iwama

ART STAFF Leonard Wolfe (associate director), Libby Watterson (picture editor), Janice Pikey (assistant picture editor), Jean Held (graphics), John R Martinez, Leo F. McCarthy, Barbara R. Smyth (designers), Maureen Dutty Benziger, Pamela Beryl, Mary Dawn Earley (research), Joan Hoffman, Dan Mason

COPY DESK Dorothy Spence Illson (chief), Joyce Lautens O’Brien (deputy), Carol Gwinn, Emily Mikszto Salzberg, Jane Sandiford

COPY PROCESSING Joseph L. Mazella (manager), Donald G. Biglands (deputy)

PRODUCTION STAFF Sidney Sklar (manager), Donald G. Biglands (deputy), Maureen Mallon Cluen (assistant manager)

EDITORIAL SERVICES Norman Airey (director)

PUBLISHER Edward Patrick Lanahan

ADVERTISING DIRECTOR James B. Hoefer

CIRCULATION DIRECTOR William C. Taylor

BUSINESS MANAGER Marie Cherichetti

PROMOTION DIRECTOR Howard Kaplan

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