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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
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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
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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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Commentary
SAP Head of Quantum: AI is about to commoditize intelligence. Better decisions will be the next competitive advantage
By Carsten PolenzAugust 13, 2026
Google’s DeepMind is having an identity crisis
Newsletters
Google’s DeepMind is having an identity crisis
By Beatrice NolanAugust 13, 2026
Current price of Bitcoin for Aug. 13, 2026
Personal Finance
Current price of Bitcoin for August 13, 2026
By Joseph HostetlerAugust 13, 2026
Current price of Ethereum for Aug. 13, 2026
Personal Finance
Current price of Ethereum for August 13, 2026
By Joseph HostetlerAugust 13, 2026
Top CD rates from major banks Aug. 13, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
Personal Finance
Top CD rates from major banks on August 13, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
By Joseph HostetlerAugust 13, 2026
Current price of oil as of Aug. 13, 2026
Personal Finance
Current price of oil as of August 13, 2026
By Joseph HostetlerAugust 13, 2026
Photo: Dario Amodei
Newsletters
Anthropic reportedly plans a $2 trillion IPO in October—the largest ever—that will eclipse SpaceX
By Jim EdwardsAugust 13, 2026
The Philippines needs ‘power of all sorts’ to build energy security following a nationwide crisis, says Prime Infra CEO Guillaume Lucci
Asia
The Philippines needs ‘power of all sorts’ to build energy security following a nationwide crisis, says Prime Infra CEO Guillaume Lucci
By Angelica AngAugust 13, 2026
How much car insurance coverage do you really need?
Personal Finance
How much car insurance coverage do you really need?
By Joseph HostetlerAugust 12, 2026
Donald Trump speaks into a microphone.
Investing
Nearly a dozen firms are already paying up to $100,000 per month for early access to Trump’s Truth Social posts
By Sasha RogelbergAugust 12, 2026
Japan and the U.S. just spent billions to try to save the yen. Why is it already losing ground?
Asia
Japan and the U.S. just spent billions to try to save the yen. Why is it already losing ground?
By Nicholas GordonAugust 12, 2026
Bob Iger and Josh Kushner buy the LA Lakers for a record-breaking $12.5 billion, up 25% in just the 14 months since Mark Walter bought them
Arts & Entertainment
Bob Iger and Josh Kushner buy the LA Lakers for a record-breaking $12.5 billion, up 25% in just the 14 months since Mark Walter bought them
By Catherina GioinoAugust 12, 2026
CIOs and CTOs spent years lauding AI. Now, with costs rising, they’re putting limits on how it’s used
Newsletters
CIOs and CTOs spent years lauding AI. Now, with costs rising, they’re putting limits on how it’s used
By John KellAugust 12, 2026
Nvidia CEO Jensen Huang
Big Tech
Nvidia found a new way to keep the AI boom funded: your retirement money
By Eva RoytburgAugust 12, 2026
Gates Foundation’s $540 million gift to science comes as the federal government pulls back on funding
Success
Gates Foundation’s $540 million gift to science comes as the federal government pulls back on funding
By Sydney LakeAugust 12, 2026
Worker on phone
Success
The majority of U.S. employers say they plan to increase hiring this year—these are the top roles they’re looking to fill
By Emma BurleighAugust 12, 2026
photo of Sam Altman
AI
Sam Altman thinks working at Goldman Sachs ‘sounds unbelievably terrible now’ and admits he was ‘peer pressured’ into accepting an internship there 
By Mia Osmonbekov and Catherina GioinoAugust 12, 2026
Michael Saylor with a cheek microphone, wearing a black suit, and wearing a Bitcoin pin.
Success
Elon Musk says AI will make money disappear. But crypto billionaire Michael Saylor says he’s wrong for one key reason: ‘We’re status-oriented animals’
By Preston ForeAugust 12, 2026
Nicolai Tangen, chief executive officer of Norges Bank Investment Management.
Investing
Norway $2.3 trillion fund posts best quarter since 2020
By Bloomberg and Heidi Taksdal SkjesethAugust 12, 2026
An Air Canada aircraft arrives at Toronto Pearson International Airport.
Investing
Blackstone strikes $1.8 billion deal for Air Canada division
By Bloomberg, Thomas Seal and Stephanie HughesAugust 12, 2026
Bank of America logo sign is seen in Chicago, Illinois, United States.
Banking
BofA to plow $250 billion into critical infrastructure projects
By Bloomberg, Paula Seligson and Katherine DohertyAugust 12, 2026
photo illustration of the Eli Lilly logo on a box of the new Foundayo weight loss oral pill.
Innovation
Lilly escalates its fight against black market weight-loss shots
By Bloomberg and Madison MullerAugust 12, 2026
‘Call Her Daddy’ host Alex Cooper raises money at a $500 million valuation
Startups & Venture
‘Call Her Daddy’ host Alex Cooper raises money at a $500 million valuation
By Lucas Shaw and BloombergAugust 12, 2026
Photo of a Polymarket ad in a subway station
North America
New York City probes Kalshi and Polymarket over social harms
By Bloomberg and Nicola M. WhiteAugust 12, 2026
Photo of yen and dollar comparison and a woman walking past in a blur
Economy
New ‘Katsu Curry Index’ aims to show how weak the yen really is
By Bloomberg and Naomi TajitsuAugust 12, 2026
Photo of Phoebe Gates
Retail
Phoebe Gates knew Phia shopping app took credit for sales it didn’t drive
By Bloomberg, Olivia Solon, Priyanjana Bengani and Jeff KaoAugust 12, 2026
Norway oil fund CEO says he’s more nervous after record returns
Investing
Norway oil fund CEO says he’s more nervous after record returns
By Heidi Taksdal Skjeseth and BloombergAugust 12, 2026
AI giants are quiet on climate in sign of post-ESG Wall Street
AI
AI giants are quiet on climate in sign of post-ESG Wall Street
By Olivia Raimonde, Summer Maxwell and BloombergAugust 12, 2026
‘We’re not built for this’: Severe weather leaves 850,000 in the Midwest without power
North America
‘We’re not built for this’: Severe weather leaves 850,000 in the Midwest without power
By Laura Bargfeld, Ed White and The Associated PressAugust 12, 2026
A shopper browses an aisle of food items from a wholesale retailer in Alhambra, California on August 11, 2026
Economy
Inflation came in perfectly on forecast. Almost everything underneath it is a ‘mess’ as wages struggle to keep up
By Eva RoytburgAugust 12, 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
Success
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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