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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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News
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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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Airbnb CEO Brian Chesky says AI writes 60% of its code—and sustaining ‘founder mode’ is the key to winning in the age of AI
AI
Airbnb CEO Brian Chesky says AI writes 60% of its code—and sustaining ‘founder mode’ is the key to winning in the age of AI
By Sarah GlodekAugust 14, 2026
Billionaire Joshua Kushner just bought the Lakers for $12.5 billion—OpenAI’s Sam Altman once said he ‘doesn’t care’ what others think
Success
Billionaire Joshua Kushner just bought the Lakers for $12.5 billion—OpenAI’s Sam Altman once said he ‘doesn’t care’ what others think
By Orianna Rosa RoyleAugust 14, 2026
Billionaire Home Depot cofounder Bernie Marcus’s foundation donates nearly $30 million toward stem cell research for heart attacks
Success
Billionaire Home Depot cofounder Bernie Marcus’s foundation donates nearly $30 million toward stem cell research for heart attacks
By Sydney LakeAugust 14, 2026
Dating apps are swiping left on the features that made them as Gen Z looks for love in real life 
C-Suite
Dating apps are swiping left on the features that made them as Gen Z looks for love in real life 
By Tatiana SatauaAugust 14, 2026
Francesca Hong smiles and waves at the crowd during an election-night party.
Politics
Prediction markets’ reputation comes back to earth after surprise result in Wisconsin
By Camila Grigera NaónAugust 13, 2026
Does homeowners insurance cover water damage?
Personal Finance
Does homeowners insurance cover water damage?
By Joseph HostetlerAugust 13, 2026
OpenAI’s 69-page report on ChatGPT enterprise adoption doesn’t address the biggest question: ROI
Newsletters
OpenAI’s 69-page report on ChatGPT enterprise adoption doesn’t address the biggest question: ROI
By Emily ForliniAugust 13, 2026
This matchmaker went viral when her $35,000 client took a date to a soft pretzel restaurant—but he wasn’t subject to the ‘bald tax’ or the ‘short tax’
Success
This matchmaker went viral when her $35,000 client took a date to a soft pretzel restaurant—but he wasn’t subject to the ‘bald tax’ or the ‘short tax’
By Eva RoytburgAugust 13, 2026
Two ICE agents wearing camouflage gear with eye and face coverings.
Innovation
The electric shock gloves ICE is spending up to $20 million on are already being given to police officers in Omaha public schools
By Sasha RogelbergAugust 13, 2026
‘Multi-part case study on China’s media’ finds that AI models can’t hallucinate away Chinese censorship
AI
‘Multi-part case study on China’s media’ finds that AI models can’t hallucinate away Chinese censorship
By Mia OsmonbekovAugust 13, 2026
The Best Facial Cleansers in 2026: Tested for Glowy and Healthy Skin
Health
The Best Facial Cleansers in 2026: Tested for Glowy and Healthy Skin
By Christina SnyderAugust 13, 2026
In an aerial view, Waymo robotaxis sit parked at a Waymo facility.
Innovation
A San Francisco ‘tech prankster’ got 50 Waymos ordered onto the same street, exposing robotaxis’ cyber/airbag problem
By Joshua HongAugust 13, 2026
Home equity loan and HELOC rates: Aug. 13, 2026
Personal Finance
Home equity loan and HELOC rates, August 13, 2026
By Joseph HostetlerAugust 13, 2026
Microsoft begins to merge consumer and enterprise Copilot apps in push for super app
AI
Microsoft begins to merge consumer and enterprise Copilot apps in push for super app
By Sebastian HerreraAugust 13, 2026
Actress Jennifer Garner
Success
Jennifer Garner cofounded a $732 million business at 45, and says her age came with perks: ‘I’m blissfully not motivated by needing to be in charge’
By Emma BurleighAugust 13, 2026
Photo of Malcolm Gladwell
Success
Malcolm Gladwell would rather have a dad who makes $100,000 than $1 billion: Extreme wealth is ‘quite crippling to your motivation’
By Preston ForeAugust 13, 2026
How to store and insure physical gold and silver (without making costly mistakes)
Personal Finance
How to store and insure physical gold and silver (without making costly mistakes)
By Joseph HostetlerAugust 13, 2026
A DeepSeek logo is seen displayed on a smartphone on the top of a laptop.
Big Tech
DeepSeek increases prices for AI services by multiple times
By Bloomberg and Saritha RaiAugust 13, 2026
Trump pivots to economic squeeze of ‘entrenched’ Iran regime
North America
Trump pivots to economic squeeze of ‘entrenched’ Iran regime
By Magdalena Del Valle and BloombergAugust 13, 2026
pn
Economy
Trump trade enforcers deploy AI in tariff evasion crackdown
By Laura Curtis and BloombergAugust 13, 2026
Photo: Scott Bessent
Economy
U.S. set to pay most for 30-year debt in quarter of a century
By Greg Ritchie and BloombergAugust 13, 2026
‘Kids don’t go out and do things anymore’: Youth sports are becoming a thing for rich people
Personal Finance
‘Kids don’t go out and do things anymore’: Youth sports are becoming a thing for rich people
By Linley Sanders, Amelia Thomson-Deveaux and The Associated PressAugust 13, 2026
Trump wants big pharma to split kids’ vaccines. They’ll probably ignore him
Health
Trump wants big pharma to split kids’ vaccines. They’ll probably ignore him
By Matthew Perrone and The Associated PressAugust 13, 2026
Trump’s tariff was a $1,000 tax on you last year. This year, maybe you’ll get a small refund in your bank account
Retail
Trump’s tariff was a $1,000 tax on you last year. This year, maybe you’ll get a small refund in your bank account
By Mae Anderson and The Associated PressAugust 13, 2026
Wall Street tries to shake off a rough week as another inflation test looms
Investing
Wall Street tries to shake off a rough week as another inflation test looms
By Yuri Kageyama, Michelle Chapman and The Associated PressAugust 13, 2026
Photo of Anthropic logo
AI
Anthropic said in talks to buy startup Decart for $6 billion
By Lynn Doan, Ryan Gould, Natasha Mascarenhas, Shirin Ghaffary and BloombergAugust 13, 2026
Photo of Trump holding up printed-out Truth Social post
Law
Trump sued over ‘selling priority access to news he himself generates for the benefit of a private company he controls’
By Bernard Condon and The Associated PressAugust 13, 2026
Trump, Medicaid and LGBTQ+ rights: He calls them ‘barbaric surgeries,’ critics say he’s ‘terrorizing trans youth’
Politics
Trump, Medicaid and LGBTQ+ rights: He calls them ‘barbaric surgeries,’ critics say he’s ‘terrorizing trans youth’
By Geoff Mulvihill and The Associated PressAugust 13, 2026
z
Politics
How Zohran Mamdani’s pied-a-terre tax united the ultrawealthy and the moderately wealthy — in opposition
By Anthony Izaguirre and The Associated PressAugust 13, 2026
fx
C-Suite
Only 12% of family businesses stay in the family by the third generation. A Goldman Sachs chairman says optimism is the reason
By Nick LichtenbergAugust 13, 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
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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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Current price of oil as of October 6, 2026placeholder alt text
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