Shawn Tully

Shawn Tully

Shawn Tully is a senior editor-at-large at Fortune.

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Jeremy Allaire, chief executive officer of Circle Internet Financial Ltd., center, during the company’s initial public offering (IPO) on the floor of the New York Stock Exchange (NYSE) in New York, US, on Thursday, June 5, 2025. Circle shares surged as much as 235% after the company and some of its shareholders raised nearly $1.1 billion in an initial public offering that was upsized twice amid strong demand. Photographer: Michael Nagle/Bloomberg via Getty Images

The Circle IPO delivered the biggest two-day ‘pop’ since 1980—but the crypto company left $3 billion on the table

Michael Einhorn, CEO of Dealmed

One entrepreneur’s supply-chain odyssey shows just how difficult it is to quit China

WASHINGTON, DC – MAY 30: Tesla CEO Elon Musk speaks alongside U.S. President Donald Trump to reporters in the Oval Office of the White House on May 30, 2025 in Washington, DC. Musk, who served as an adviser to Trump and led the Department of Government Efficiency, announced he would leave his role in the Trump administration to refocus on his businesses. (Photo by Kevin Dietsch/Getty Images)

What Elon Musk’s feud with Trump means for Tesla shareholders

Traders work on the floor of the New York Stock Exchange (NYSE) during the Circle Internet Financial Ltd. initial public offering (IPO) in New York, US, on Thursday, June 5, 2025. Circle shares surged as much as 235% after the company and some of its shareholders raised nearly $1.1 billion in an initial public offering that was upsized twice amid strong demand. Photographer: Michael Nagle/Bloomberg via Getty Images

Circle IPO leaves $1.76 billion on the table, seventh biggest underpricing in decades

Keurig Dr Pepper (KDP) CEO Tim Cofer at a Dr Pepper Fansville campaign activation at the National Association of Convenience Stores trade show in Las Vegas

The CEO giving Keurig Dr Pepper a massive energy jolt

Stephen Miran, chairman of the Council of Economic Advisers, during the Hill & Valley forum at the US Capitol in Washington, DC, US, on Wednesday, April 30, 2025. The Hill and Valley Forum, started in 2023, is a gathering of lawmakers and venture capitalists focused on the US technology industry. Photographer: Al Drago/Bloomberg via Getty Images

How Stephen Miran—a Harvard-trained former free market champion—became Trump’s top ideologue on tariffs

A line graph with illustrated hands pointing down and up

A new book makes the case for putting money supply at the center of the U.S. economy and re-empowering commercial banks

Newly elected Pope Leo XIV, Robert Prevost arrives on the main central loggia balcony of the St Peter’s Basilica for the first time, after the cardinals ended the conclave, in The Vatican, on May 8, 2025. Robert Francis Prevost was on Thursday elected the first pope from the United States, the Vatican announced. A moderate who was close to Pope Francis and spent years as a missionary in Peru, he becomes the Catholic Church’s 267th pontiff, taking the papal name Leo XIV. (Photo by Alberto PIZZOLI / AFP) (Photo by ALBERTO PIZZOLI/AFP via Getty Images)

Pope Leo inherits a financial mess some CEOs may find relatable—including a pension time bomb that’s worse than expected

Greg Abel, chairman of Berkshire Hathaway Energy, left, walks to the morning session at the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, US, on Wednesday, July 10, 2024. The annual event has been a historic breeding ground for media deals and is usually a forum for tech and media elites to discuss the future of their industry. Photographer: David Paul Morris/Bloomberg via Getty Images

What Greg Abel will do now he has officially taken over from Warren Buffett at Berkshire Hathaway.

Greg Abel

How Greg Abel may run Berkshire Hathaway differently than Warren Buffett

Chart shows market capitalization of Tesla

Elon Musk’s retreat from DOGE has lifted Tesla’s market cap by $158 billion—but the stock is still 50% off its December peak

MIAMI, FLORIDA – APRIL 12: U.S. President Donald Trump watch the Ultimate Fighting Championship with Elon Musk at the Kaseya Center on April 12, 2025 in Miami, Florida. The Trump administration issued a rule late Friday that spared smartphones, computers, semiconductors, and other electronics from some of the tariffs they have enacted. (Photo by Joe Raedle/Getty Images)

How much was Elon Musk’s pledge to step back from DOGE worth? $67 billion to frustrated Tesla shareholders

ROME, ITALY – APRIL 18: Pope Francis leads the Way of The Cross at the Colosseum on April 18, 2014 in Rome, Italy. The Way of the Cross is a centuries-old and much beloved devotion, that began as a sort of spiritual pilgrimage to the places and scenes and events of ChristÕs passion for those who could not make the pilgrimage to the Holy Land in person, as well as for those who had made it and wished to relive their experience, and for those who were preparing for the journey. (Photo by Franco Origlia/Getty Images)

The new leader of the Catholic Church will inherit a financial mess that Pope Francis spent much of his reign trying to fix

Elon Musk points behind him to a Tesla Cybertruck.

Car wreck: What to believe, Elon Musk’s promises or Tesla’s terrible results for Q1?

Chinese and US flags flutter in the wind at the Boeing Shanghai Aviation Services facilities near the Shanghai Pudong International Airport in Shanghai on April 17, 2025. Donald Trump believes it is up to China to come to the negotiating table on trade, the White House said on April 15, after the US president accused Beijing of reneging on a major Boeing deal. (Photo by Hector RETAMAL / AFP) (Photo by HECTOR RETAMAL/AFP via Getty Images)

Where will tariffs and inflation stand a year from now? Fitch’s chief economist outlines a worrisome prediction