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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
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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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Economy
Wall Street futures rise ahead of inflation report as the Fed watches surging costs
By Elaine Kurtenbach, Michelle Chapman and The Associated PressAugust 12, 2026
Google DeepMind’s chief AI exec started out detasseling corn in Indiana for around $1 an hour at 14: ‘I grew up in really humble beginnings’
Success
Google DeepMind’s chief AI exec started out detasseling corn in Indiana for around $1 an hour at 14: ‘I grew up in really humble beginnings’
By Orianna Rosa RoyleAugust 12, 2026
Consolidating debt with a mortgage refinance: Should you do it?
Personal Finance
Consolidating debt with a mortgage refinance: Should you do it?
By Joseph HostetlerAugust 12, 2026
Dario Amodei, CEO of Anthropic, during the World Economic Forum in Davos, Switzerland in 2026.
Newsletters
87.5% of venture dollars went to AI. The rest fought over scraps
By Allie GarfinkleAugust 12, 2026
Top CD rates from major banks Aug. 12, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
Personal Finance
Top CD rates from major banks on August 12, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
By Joseph HostetlerAugust 12, 2026
Current price of Bitcoin for Aug. 12, 2026
Personal Finance
Current price of Bitcoin for August 12, 2026
By Joseph HostetlerAugust 12, 2026
Current price of Ethereum for Aug. 12, 2026
Personal Finance
Current price of Ethereum for August 12, 2026
By Joseph HostetlerAugust 12, 2026
Current price of oil as of Aug. 12, 2026
Personal Finance
Current price of oil as of August 12, 2026
By Joseph HostetlerAugust 12, 2026
Photo: The Strait of Hormuz
Newsletters
‘An unattractive deal with Iran is the best of limited bad options’ if the U.S. wants to get oil flowing again
By Jim EdwardsAugust 12, 2026
The Gulf’s AI boom is driving the race to control the data highways
Middle East
The Gulf’s AI boom is driving the race to control the data highways
By Melissa HancockAugust 12, 2026
The Gulf wants to break free from the world’s data chokepoints
Newsletters
The Gulf wants to break free from the world’s data chokepoints
By Melissa HancockAugust 12, 2026
Iran wants a mafia-style ‘protection’ toll on the Strait of Hormuz, but the eye-popping $20 billion per year haul is a pipe dream
Energy
Iran wants a mafia-style ‘protection’ toll on the Strait of Hormuz, but the eye-popping $20 billion per year haul is a pipe dream
By Jordan BlumAugust 12, 2026
Home equity loan and HELOC rates: Aug. 12, 2026
Personal Finance
Home equity loan and HELOC rates, August 12, 2026
By Joseph HostetlerAugust 12, 2026
Kalshi’s CEO is racing to build a futures market for AI’s most precious resource, which could be worth $100 trillion by 2030
Banking
Kalshi’s CEO is racing to build a futures market for AI’s most precious resource, which could be worth $100 trillion by 2030
By Jeff John RobertsAugust 12, 2026
Students walk past the Trustee's Gate on George Washington University's campus.
AI
Universities are buying and selling property for data centers, prompting concerns about an AI brain drain
By Joshua HongAugust 12, 2026
Meet ChatTJB, the ‘AI’ chatbot with no AI, no algorithm and no LLM. It’s just one guy and the 10,000 people who volunteered to type back
Success
Meet ChatTJB, the ‘AI’ chatbot with no AI, no algorithm and no LLM. It’s just one guy and the 10,000 people who volunteered to type back
By Tatiana SatauaAugust 12, 2026
Man in a suit gesturing
AI
CoreWeave CEO Michael Intrator cites ‘sold out’ capacity as revenue more than doubles and backlog swells to $104 billion
By Amanda GerutAugust 11, 2026
When OpenAI employees have a problem, they email this special address to see if Sam Altman will solve it immediately
AI
When OpenAI employees have a problem, they email this special address to see if Sam Altman will solve it immediately
By Emily ForliniAugust 11, 2026
France's President Emmanuel Macron reacts as he welcomes European Commission President.
Politics
France hits unsolicited telemarketers with $87,000 fine per call, following similar provisions in other European nations
By The Associated Press and Sylvie CorbetAugust 11, 2026
Jellyfish lay on the shore near the Gravelines nuclear power plant in Gravelines, northern France.
Energy
Jellyfish swarms knock out 3.2 gigawatts of French nuclear power
By Bloomberg and Eamon Akil FarhatAugust 11, 2026
Ships are anchored in the Strait of Hormuz on August 10, 2026 off the coast of Bandar Abbas, Iran.
Investing
U.S. stocks fall after Iran says Strait of Hormuz will remain shut
By Bloomberg, Norah Rami and Elena EisenstadtAugust 11, 2026
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Politics
Trump administration invokes birthright citizenship Supreme Court case in appeal to block wide tariff refunds
By The Associated Press and Mae AndersonAugust 11, 2026
Photo of a house for sale sign
Real Estate
Mortgage rates hit one-year high at 6.69% as home sales fall
By The Associated Press and Matt OttAugust 11, 2026
t
Commentary
It is time to remake the federal government with a new fiscal constitution
By Steve H. Hanke and David M. WalkerAugust 11, 2026
Former deputy mayor and now Mamdani nemesis sued the city’s pied-à-terre tax rollout. The city froze the judge’s pause within hours
Real Estate
Former deputy mayor and now Mamdani nemesis sued the city’s pied-à-terre tax rollout. The city froze the judge’s pause within hours
By Catherina GioinoAugust 11, 2026
Anthropic logo on phone.
Newsletters
Anthropic to start embedding invisible watermarks in Claude’s AI-generated text—as the industry scrambles to police AI slop
By Beatrice NolanAugust 11, 2026
Photo of President Trump
Crypto
Trump’s media and crypto firm just posted a $238 million quarterly loss—here’s where those losses came from
By Camila Grigera NaónAugust 11, 2026
Long-time OpenAI exec Brad Lightcap is leaving the ChatGPT maker to ‘start something new’
Startups & Venture
Long-time OpenAI exec Brad Lightcap is leaving the ChatGPT maker to ‘start something new’
By Emily ForliniAugust 11, 2026
Photo of Bill Ackman
Success
How a book that inspired Warren Buffett and a $14,000 side hustle helped billionaire Bill Ackman get started as an investor
By Emma BurleighAugust 11, 2026
Photo of Jamie Dimon
Economy
Jamie Dimon warns dollar dominance depends on the military: ‘If we’re not the strongest military in 25 years…we won’t be the reserve currency either’
By Mia OsmonbekovAugust 11, 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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