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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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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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Current price of oil as of October 6, 2026

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

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

3

Current price of oil as of October 6, 2026
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Saudi’s economic transformation collides with war and falling FDI 
Saudi’s economic transformation collides with war and falling FDI 

In this week’s Fortune Gulf Brief.

By Melissa HancockOctober 7, 2026
Today’s home equity loan and HELOC rates, Oct. 7, 2026
Today’s home equity loan and HELOC rates, Oct. 7, 2026
By Joseph HostetlerOctober 7, 2026
A $13 billion property mogul is the latest to flee Britain’s new taxes for Monaco, a warning sign as California votes on a billionaire tax
A $13 billion property mogul is the latest to flee Britain’s new taxes for Monaco, a warning sign as California votes on a billionaire tax
By Sydney LakeOctober 7, 2026
Jane Fraser, sitting on a light-colored chair onstage, speaks and gestures with her hand.
Citi shortens its analyst program to two years as Wall Street fights private equity for young talent
By Sasha RogelbergOctober 7, 2026
Will AI kill the Asian entertainment industry, or reinvent it?
Will AI kill the Asian entertainment industry, or reinvent it?
By Angelica AngOctober 7, 2026
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Gold bars
Former CIA official with Top Secret clearance admits to $194 million fraud, including 298 gold bars and four luxury South Florida properties

Rush will give up 298 gold bars, Palm Beach and Jupiter Island real estate, 35 watches, two BMW Alpinas and about $40 million in cash.

By Catherina GioinoOctober 6, 2026
OpenAI’s human rights lead: What the military could do with AI ‘keeps me up at night’

Sarah Yager joined OpenAI recently, and though she was initially skeptical that her position was merely a PR stunt, she says she’s had some early success influencing the safety of the technology.

By Emily ForliniOctober 6, 2026
Researchers tracked $80 million in political ads using AI—and Republicans were behind 83% of them

Don’t expect a disclaimer on that AI slop political ad you see this year.

By Travis N. Ridout, Erika Franklin Fowler, Michael Franz and The ConversationOctober 6, 2026
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
More in News
North America
More in North America
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

Taiwan is turning Phoenix into a bigger hub for its chip industry with a new office and TSMC’s investments

By The Associated Press, Wufei Yu and Didi TangOctober 6, 2026
Zambia to sign revised U.S. health deal without patient data and specimen-sharing clauses

The U.S. has signed new bilateral health agreements with around two dozen African nations since last year, but some have pushed back on requirements to provide patient data.

By The Associated Press, Gerald Imray and Jacob ZimbaOctober 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
More in North America
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
‘The secret world of secondaries’: How a niche area of finance is emerging as a new liquidity engine in the Gulf
‘The secret world of secondaries’: How a niche area of finance is emerging as a new liquidity engine in the Gulf

As global and regional liquidity tightens, a nascent Gulf secondary market is giving investors, founders, and early backers a new route to monetisation

By Melissa HancockOctober 7, 2026
He manages one of the most successful soccer clubs in the world and is the elite leader every CEO wants to talk to. So why has Mikel Arteta decided to go public on having his own DNA mapped? 

The Arsenal boss talks to Fortune on the link between health, leadership, and sporting success.

By Kamal AhmedOctober 6, 2026
How does debt relief work? Costs, risks, and what to expect

When you hire a debt relief company, you typically stop making payments to creditors while the company tries to negotiate what you owe. There are risks, and it’s not guaranteed to work.

By Glen Luke FlanaganOctober 6, 2026
Finding value from AI in big companies comes down to people, not technology

Big companies need to overcome ‘learned helplessness’ and risk aversion to find ROI from AI, futurist Amy Webb says

By Jeremy KahnOctober 6, 2026
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Trump embraces a political strategy of being in charge of everything but responsible for nothing when things go badly
Politics
Trump embraces a political strategy of being in charge of everything but responsible for nothing when things go badly
By Will Weissert and The Associated PressAugust 15, 2026
Trump pulls last aircraft carrier in Asia to send to Mideast, and China ‘is quite happy with U.S. distraction’ as Beijing shows signs of aggression
Asia
Trump pulls last aircraft carrier in Asia to send to Mideast, and China ‘is quite happy with U.S. distraction’ as Beijing shows signs of aggression
By Ben Finley, Didi Tang and The Associated PressAugust 15, 2026
$38 billion Twilio CEO wakes at 4:30 a.m., works Sundays, and runs laps around his house between meetings to blow off steam
Success
$38 billion Twilio CEO wakes at 4:30 a.m., works Sundays, and runs laps around his house between meetings to blow off steam
By Orianna Rosa RoyleAugust 15, 2026
Brian Niccol sits on a chair onstage in front of a blue and purple background.
Economy
Starbucks CEO says the coffee chain won’t lose its cash-strapped consumers because it’s on its way to being a ‘world-class customer service’ company
By Sasha RogelbergAugust 15, 2026
Photo of Phoebe Gates
Startups & Venture
‘I have a chip on my shoulder.’ Phoebe Gates wants her $185 million AI startup Phia to succeed with ‘no ties to my privilege or my last name’
By Sydney LakeAugust 15, 2026
Dario Amodei
Commentary
AI is creating a new wave of philanthropists. The system they’re walking into is broken
By Nick Allardice and David GoldbergAugust 15, 2026
Adin Ross looks slightly upward.
Success
The ‘manosphere’ is actually a multibillion-dollar industry that sells courses and supplements to insecure Gen Z men, report finds
By Sasha RogelbergAugust 15, 2026
hospitals
Commentary
Before employers shift more healthcare costs to workers, they should ask hospitals a question
By Eugene LitvakAugust 15, 2026
da
AI
Nobel laureate Daron Acemoglu says AI and liberal democracy share the same crisis: ‘there is a tendency to escalate everything’
By Nick LichtenbergAugust 15, 2026
MareNostrum Ona quantum computer inside the Barcelona Supercomputing Center facilities, in Plaza Eusebi Guell, on 28 May, 2026 in Barcelona, Catalonia, Spain.
Crypto
‘The great quantum migration’ is coming as more than $2 trillion in digital assets is at risk—nearly the entire value of the overall crypto market
By Joshua HongAugust 15, 2026
a
Commentary
McKinsey senior partners: America’s growth strategy demands a health reset
By Pooja Kumar and Eric KutcherAugust 15, 2026
sm
Commentary
AI isn’t changing how companies work. It’s changing what a company is
By Stephen MesserAugust 15, 2026
Some gamblers are buying losing lottery tickets on eBay as a way to offset taxes on their gambling wins
Personal Finance
Some gamblers are buying losing lottery tickets on eBay as a way to offset taxes on their gambling wins
By Catherina GioinoAugust 15, 2026
‘You’re always right with wine’: Meet the woman behind 1 in every 4 bottles of Oregon wine sold in America.
MPW
‘You’re always right with wine’: Meet the woman behind 1 in every 4 bottles of Oregon wine sold in America.
By Tatiana SatauaAugust 15, 2026
Liability vs. full coverage insurance: What’s the difference?
Personal Finance
Liability vs. full coverage insurance: What’s the difference?
By Joseph HostetlerAugust 14, 2026
Actual cash value vs. replacement cost: What’s the difference?
Personal Finance
Actual cash value vs. replacement cost: What’s the difference?
By Joseph HostetlerAugust 14, 2026
Mark Zuckerberg, chief executive officer of Meta Platforms Inc., wears a pair of Meta Ray-Ban Display AI glasses during the Meta Connect event.
Cybersecurity
People are going to extreme lengths to stop themselves from being filmed through Meta’s ‘pervert glasses’
By Joshua HongAugust 14, 2026
Donald Trump and Scott Bessent sit next to each other.
North America
‘If your tariff was 0%, there’s no need to commit fraud’: The White House is sounding off on a $112 billion tariff-dodging scheme it made worse
By Sasha RogelbergAugust 14, 2026
Luigi Mangione pleads guilty in killing of UnitedHeathcare CEO. ‘I shot Mr. Thompson in Manhattan and he died’
Law
Luigi Mangione pleads guilty in killing of UnitedHeathcare CEO. ‘I shot Mr. Thompson in Manhattan and he died’
By Catherina GioinoAugust 14, 2026
Iran says the Strait of Hormuz is shut down. The Trump administration says 9 million barrels a day are still getting out
Economy
Iran says the Strait of Hormuz is shut down. The Trump administration says 9 million barrels a day are still getting out
By Jason MaAugust 14, 2026
Scott Kirby
Success
United CEO Scott Kirby tells Gen Z interns to ditch excuses—it’s a mantra he learned in Air Force training: ‘Figure out how to overcome it’
By Preston ForeAugust 14, 2026
Meet a 29-year-old influencer who calls herself a tradwife—but she’s really more of a homesteader
Success
Meet a 29-year-old influencer who calls herself a tradwife—but she’s really more of a homesteader
By Tatiana SatauaAugust 14, 2026
Tesla CEO Elon Musk
Success
Elon Musk’s $158 billion Tesla pay was 2.5 million times his workers’ salary last year—it’s ‘unlike anything we have seen before,’ exec pay watch says
By Emma BurleighAugust 14, 2026
pn
Economy
Peter Navarro rips into China in White House report that is more about other countries aiding tariff avoidance
By The Associated Press and Josh BoakAugust 14, 2026
The secret history of Ray Dalio and the creation of Chicken McNuggets—how a 1980s hedge strategy unlocked a whole new menu
C-Suite
The secret history of Ray Dalio and the creation of Chicken McNuggets—how a 1980s hedge strategy unlocked a whole new menu
By Sarah GlodekAugust 14, 2026
n
Investing
Over 400% of GDP: top analyst finds corporate equity double the level from the dotcom bubble — and triple 1987’s Black Monday
By Nick LichtenbergAugust 14, 2026
Sean Duffy speaks behind a podium. An American flag hangs behind him.
Politics
Facing a decadeslong shortage, the FAA has now hired more than 2,000 air traffic controllers after its campaign recruiting Gen Z video gamers
By Sasha RogelbergAugust 14, 2026
gild
Arts & Entertainment
The gilded cage: Why Gen Z’s favorite escape is the era that looks most like now
By Nick LichtenbergAugust 14, 2026
Garrett Langley, founder and chief executive officer of Flock Safety, at the Semafor World Economy Summit during the International Monetary Fund (IMF) and World Bank Spring meetings.
Cybersecurity
Flock Safety says it will totally be better about (not) giving your license plate to law enforcement
By Sarah Rankin, Claudia Lauer and The Associated PressAugust 14, 2026
NBA Commissioner Adam Silver and Joshua Kushner attend day ten of the 2025 US Open Tennis Championships.
Big Tech
41-year-old Josh Kushner’s World Cup privatization scheme fell apart. Then he became the Lakers co-owner days later
By Greg Beacham and The Associated PressAugust 14, 2026
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Law
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
Success
Wealthy boomers doubt their heirs will keep giving as $124 trillion changes hands, BofA finds. The data shows a different realityplaceholder alt text
By Sydney LakeOctober 6, 2026
Personal Finance
Current price of oil as of October 6, 2026placeholder alt text
By Joseph HostetlerOctober 6, 2026
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