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Texas businessman gets 13 years in federal prison as feds seize his Lamborghinis, Ferraris, Firebird, and dozens more cars to pay back fraud victims

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Google cofounder Sergey Brin has spent $102 million to fight California’s proposed billionaire tax—he could owe $13 billion if he loses

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Wealthy boomers doubt their heirs will keep giving as $124 trillion changes hands, BofA finds. The data shows a different reality

1

Texas businessman gets 13 years in federal prison as feds seize his Lamborghinis, Ferraris, Firebird, and dozens more cars to pay back fraud victims

2

Google cofounder Sergey Brin has spent $102 million to fight California’s proposed billionaire tax—he could owe $13 billion if he loses

3

Wealthy boomers doubt their heirs will keep giving as $124 trillion changes hands, BofA finds. The data shows a different reality
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Patagonia CEO Ryan Gellert speaks during the 29th annual Milken Institute Global Conference at the Beverly Hilton in Beverly Hills, California.
Patagonia’s CEO is worried about political apathy—so the company offered 112,000 people $100 to help 3 friends plan to vote

The $11.2 million incentive disappeared in four days. Researchers say a friend’s nudge could help turn environmental concern into votes.

By Tatiana SatauaOctober 6, 2026
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‘AI Snake Oil’ author sees chatbots evolving into a ‘truth oracle’—and journalism heading somewhere it hasn’t been in 200 years
By Nick LichtenbergOctober 6, 2026
Taiwan opens Phoenix office as $265 billion chip investment in Arizona grows, over China’s objections
Taiwan opens Phoenix office as $265 billion chip investment in Arizona grows, over China’s objections
By The Associated Press, Wufei Yu and Didi TangOctober 6, 2026
Mulambo Hamakuni Haimbe, Minister for Foreign Affairs of Zambia, speaks during the 81st session of the United Nations General Assembly at United Nations headquarters.
Zambia to sign revised U.S. health deal without patient data and specimen-sharing clauses
By The Associated Press, Gerald Imray and Jacob ZimbaOctober 6, 2026
Jon Rahm of Spain drops his club on the 13th hole during the first round of the BMW Championship golf tournament in Virginia Water, England.
‘It’s been a very strange year on LIV’: LIV Golf to get $300 million investment to help the circuit emerge from bankruptcy
By Doug Ferguson and The Associated PressOctober 6, 2026
Young woman with suitcase close to her waiting for transportation in airport lounge
Gen Z’s new American Dream: Skip the mortgage, book the flight
By Bilin LinOctober 6, 2026
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After housing protests turned violent, Spain will tax seasonal rentals to build a 10 billion euro fund into first-home loans
After housing protests turned violent, Spain will tax seasonal rentals to build a 10 billion euro fund into first-home loans

Spain passed 21 housing measures after tends of thousands protested the country’s housing affordability crisis and ahead of snap elections

By The Associated Press and TERESA MEDRANOOctober 6, 2026
Texas businessman gets 13 years in federal prison as feds seize his Lamborghinis, Ferraris, Firebird, and dozens more cars to pay back fraud victims

Clayton Iley pitched a fake Defense Department loan program and used victims’ identities to fund 90-plus collector vehicles, prosecutors say.

By Catherina GioinoOctober 5, 2026
MAGAnomics is starting to look uncomfortably like Bidenomics

Trump once called Biden-era inflation a “country-buster” and a “colossal tax on American families.” Now the shoe is on the other foot.

By Nick LichtenbergOctober 5, 2026
Taxpayers are still paying $1.6 million a week to keep 420 radio staffers out of work

The United States Agency for Global Media can’t document 99% of the gear from Voice of America that it dumped in 2025.

By Joshua HongOctober 5, 2026
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North America
More in North America
Current price of oil as of Oct. 6, 2026
Current price of oil as of October 6, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

By Joseph HostetlerOctober 6, 2026
Wealthy boomers doubt their heirs will keep giving as $124 trillion changes hands, BofA finds. The data shows a different reality

Younger donors give to more causes than their parents—but only 47% of the wealthy think they’re ready.

By Sydney LakeOctober 6, 2026
Redfin signals a shift in power to buyers as a record share of sellers cut prices for this time of year—but 7% mortgage rates are a problem

Home price cuts just hit a September record. But with mortgage rates above 7%, it’s a buyer’s market only for some

By Bilin LinOctober 6, 2026
How Christina Zhu turned Sam’s Club into Walmart’s unlikely growth engine in China

Walmart China’s first native Chinese CEO is leaning on Sam’s Club, smaller portion sizes, and an ultrafast delivery network to drive growth in a strained consumer economy.

By Nicholas GordonOctober 5, 2026
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Asia
More in Asia
The Future 120—How vital firms stay forever young
The Future 120—How vital firms stay forever young

For the ranking, we analyzed more than 10 million data points and zeroed in on the 15 most predictive metrics, each robust and correlated with future revenue growth, to produce BCG’s Vitality Score.

By Ketil Gjerstad, Johann Harnoss, Viacheslav Romanov and Sophie ThorupOctober 6, 2026
OKX debuts a platform that turns 50 currencies into digital dollars, betting emerging market investors want stablecoins

“The key gap for people and institutions is settlement,” Haider Rafique, OKX’s global managing partner, tells Fortune.

By Nicholas GordonOctober 5, 2026
Beyond the boardroom: Asia’s 10 influential women to watch in 2026

Power in Asia extends well beyond the C-suite.

By Ashleigh NghiemOctober 5, 2026
Hungary hauls ex-foreign minister in to explain how he got a top job at BYD months after arranging government contracts

Péter Szijjártó faced lawmakers over BYD dealings after helping secure its first European plant and $63.7 million in state assistance

By The Associated Press and Justin SpikeOctober 5, 2026
More in Asia
Global
More in Global
Asmita Dubey is the chief digital and marketing officer, at L'Oréal
As AI reshapes the consumer journey, L’Oréal is rethinking its marketing engine

Underneath the ads, TikTok campaigns, and virtual try-ons lies an increasingly complex infrastructure of data, technology, and AI. To succeed today, marketers need to understand the “pipes and plumbing”, says L’Oréal’s Asmita Dubey.

By Kirsty McGregor and Francesca CassidyOctober 6, 2026
Trillions of ‘ghost particles’ pass through your body every second. The scientist who hunts them just won the Nobel Prize

Francis Halzen turned Antarctic ice into a giant detector for elusive neutrinos, with sensors buried 8,200 feet below the surface.

By Kostya Manenkov, Adithi Ramakrishnan and Stefanie DazioOctober 6, 2026
Retired Warren Buffett now spends his evenings glued to YouTube—watching Glenn Close clips, 1950s commercials, and Uzbekistani talent shows

Buffett, at 96, spends his evenings watching YouTube. But the billionaire has long made time for reading, bridge, and seeking work-life balance.

By Preston ForeOctober 6, 2026
How to choose a mortgage lender in 2026

Choosing the wrong mortgage lender could potentially cost you thousands. Here’s how to compare your options, what questions to ask every lender, and the red flags to watch out for.

By Glen Luke FlanaganOctober 6, 2026
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North America
‘The negotiations are very intense and delicate’: Carney, Trump hold crunch talks to avoid midnight 50% tariff deadline
By Paul Wiseman, Rob Gillies and The Associated PressAugust 18, 2026
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AI
Meet OpenAI’s ChatGPT for Teens, which doesn’t talk about sex or suicide and gives you homework help instead
By Barbara Ortutay and The Associated PressAugust 18, 2026
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North America
The Buss family wants an ‘exit gracefully.’ Jeanie Buss says no
By Greg Beacham and The Associated PressAugust 18, 2026
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C-Suite
The finance skills that are becoming more and more critical in the AI age
By Sheryl EstradaAugust 18, 2026
The most important AI habit I have is making one phone call a day
Commentary
The most important AI habit I have is making one phone call a day
By Maria ColacurcioAugust 18, 2026
Man seated and speaking
Commentary
210 interns. 115,000 applicants. Here’s what Citadel Securities’ 0.18% actually have in common
By Alex DiLeonardoAugust 18, 2026
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Economy
Financial adulthood has moved to the 30s: ‘the decade when people come to terms with where they are in life’
By Nick LichtenbergAugust 18, 2026
Current price of Ethereum for Aug. 18, 2026
Personal Finance
Current price of Ethereum for August 18, 2026
By Joseph HostetlerAugust 18, 2026
Current price of Bitcoin for Aug. 18, 2026
Personal Finance
Current price of Bitcoin for August 18, 2026
By Joseph HostetlerAugust 18, 2026
Current price of oil as of Aug. 18, 2026
Personal Finance
Current price of oil as of August 18, 2026
By Joseph HostetlerAugust 18, 2026
Top CD rates from major banks Aug. 18, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
Personal Finance
Top CD rates from major banks on August 18, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
By Joseph HostetlerAugust 18, 2026
Photo: Dario Amodei
Newsletters
Anthropic’s annual revenue run rate reportedly hits $65 billion
By Jim EdwardsAugust 18, 2026
Man speaks into a microphobe
Newsletters
AI gets its own “boiler room” scandal
By Allie GarfinkleAugust 18, 2026
BANDAR ABBAS, IRAN - A person wades in the water as ships are seen anchored in the Strait of Hormuz on Aug. 10, 2026 off the coast of Bandar Abbas, Iran. In a recent statement, Iran's Supreme National Security Council said the vital waterway would not reopen until the United States corrects its behavior, demanding that the U.S. end its war on Iran and compensate the country for war damage, among other conditions. Iran has largely halted vessel traffic through the strait with the threat of strikes; meanwhile, the U.S. has imposed a blockade on Iranian ports.
Energy
The Iran war may kill the ‘freedom of seas’ worldwide and everyone would pay the price
By Jordan BlumAugust 18, 2026
Photo of Roy and Nola Thompson
Success
Married 69 years, this philanthropic couple died 8 days apart—after giving away more than $20 million from a hotel-and-property fortune
By Sydney LakeAugust 18, 2026
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Success
A dropout living in a trailer, he got $1 million from Peter Thiel at 19—now he’s a billionaire who says the American Dream isn’t dead
By Orianna Rosa RoyleAugust 18, 2026
Home equity loan and HELOC rates: Aug. 18, 2026
Personal Finance
Home equity loan and HELOC rates, August 18, 2026
By Joseph HostetlerAugust 18, 2026
Photo of Chris Larsen
Politics
California’s billionaires just poured $40 million into blocking a wealth tax that threatens to force them to pay 5% of their net worth
By Marco Quiroz-GutierrezAugust 18, 2026
Alibaba’s $2 billion gaming exit signals where Beijing wants its money
Big Tech
Alibaba’s $2 billion gaming exit signals where Beijing wants its money
By Mia OsmonbekovAugust 18, 2026
AWS’s Asia chief is relocating to Japan as the country scrambles to modernize its legacy IT systems
Asia
AWS’s Asia chief is relocating to Japan as the country scrambles to modernize its legacy IT systems
By Angelica AngAugust 18, 2026
Ousted L3Harris CEO Chris Kubasik forfeits $45 million—but he’ll still walk away with $80 million in stock and options
C-Suite
Ousted L3Harris CEO Chris Kubasik forfeits $45 million—but he’ll still walk away with $80 million in stock and options
By Amanda GerutAugust 17, 2026
New Mexico’s attorney general reportedly pushes new social media safety laws a day before 29 AGs testify against Meta in federal trial
Law
New Mexico’s attorney general reportedly pushes new social media safety laws a day before 29 AGs testify against Meta in federal trial
By Catherina GioinoAugust 17, 2026
57 Trump officials are worth $100 million or more—quadruple the combined total of the last three presidents
Politics
57 Trump officials are worth $100 million or more—quadruple the combined total of the last three presidents
By The Associated Press and Thomas BeaumontAugust 17, 2026
Check your fridge: Nearly 19 million eggs are under the FDA’s most serious recall classification
North America
Check your fridge: Nearly 19 million eggs are under the FDA’s most serious recall classification
By Tatiana SatauaAugust 17, 2026
U.S. businessman Mark Cuban
Economy
‘Only idiot startup founders stay in Cali’: Mark Cuban rips billionaire tax—and opens a rift inside the Democratic Party
By Joshua HongAugust 17, 2026
Burger King is closing the gap in the burger wars with a simple formula: Better food and a star executive who takes customers’ calls himself
Retail
Burger King is closing the gap in the burger wars with a simple formula: Better food and a star executive who takes customers’ calls himself
By Sarah GlodekAugust 17, 2026
Photo of Chris Wright speaking at a podium
Energy
U.S. strategic reserves are getting so low the drawdown threatens to damage the 60 underground salt caverns storing American oil
By Sasha RogelbergAugust 17, 2026
Bald man gesturing while talking
Big Tech
Andreessen Horowitz focus of DOJ probe over board directors
By Josh Sisco, Natasha Mascarenhas and BloombergAugust 17, 2026
Photo of Jamie Dimon
Banking
The ‘Jamie premium’ nears $1 trillion as JP Morgan flirts with historic market valuation
By Mia OsmonbekovAugust 17, 2026
Trump pivoted from bombs to an economic war against Iran. But Tehran is now ‘fully offensive’ and doesn’t think the real fighting has even started yet
Middle East
Trump pivoted from bombs to an economic war against Iran. But Tehran is now ‘fully offensive’ and doesn’t think the real fighting has even started yet
By Jason MaAugust 17, 2026
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Texas businessman gets 13 years in federal prison as feds seize his Lamborghinis, Ferraris, Firebird, and dozens more cars to pay back fraud victimsplaceholder alt text
By Catherina GioinoOctober 5, 2026
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Google cofounder Sergey Brin has spent $102 million to fight California’s proposed billionaire tax—he could owe $13 billion if he losesplaceholder alt text
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Wealthy boomers doubt their heirs will keep giving as $124 trillion changes hands, BofA finds. The data shows a different realityplaceholder alt text
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