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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

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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
Gold bars
Former CIA official with Top Secret clearance admits to $194 million fraud, including 298 gold bars and four luxury South Florida properties
By Catherina GioinoOctober 6, 2026
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Photo of Donald Trump in Dublin
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
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
More in News
North America
More in North America
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

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
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
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
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? 
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
‘AI Snake Oil’ author sees chatbots evolving into a ‘truth oracle’—and journalism heading somewhere it hasn’t been in 200 years

Princeton’s Arvind Narayanan asked the Computation + Journalism conference to prepare for AI “not as it is today, but as it will be” in five to 10 years.

By Nick LichtenbergOctober 6, 2026
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AI
Mark Zuckerberg writes 6,500-word essay calling concentration the biggest AI risk, days after his model hacked another company
By Kelvin Chan, Barbara Ortutay and The Associated PressAugust 11, 2026
r
Health
FDA’s new additive list isn’t a ban — and won’t be checked
By Matthew Perrone and The Associated PressAugust 11, 2026
Arianna Huffington says even high-flying CEOs are unhappy and feel stuck in their multimillion-dollar jobs: ‘It’s a trap’
Success
Arianna Huffington says even high-flying CEOs are unhappy and feel stuck in their multimillion-dollar jobs: ‘It’s a trap’
By Orianna Rosa RoyleAugust 11, 2026
Today’s home equity loan and HELOC rates, Aug. 11, 2026
Personal Finance
Home equity loan and HELOC rates, August 11, 2026
By Joseph HostetlerAugust 11, 2026
boomer
Commentary
CareScout CEO: the hidden economic cost of an aging baby Boomer generation
By Samir ShahAugust 11, 2026
A man holds a large white bag of feed with a herd of cows standing behind him.
Economy
Record beef prices are minting fortunes for ranchers—but straining the American farmers who fatten their cattle
By Sasha RogelbergAugust 11, 2026
Aerial shot of data centers in North Dakota
Investing
AI’s biggest build-out is here. These stocks offer a way to invest in the data center boom
By Camila Grigera NaónAugust 11, 2026
Wheels of Parmigiano Reggiano cheese on shelves
Environment
Italy’s $4.7 billion cheese economy is feeling the heat as climate change threatens its cheese banks that hold Parmigiano wheels as loan collateral
By Catherina GioinoAugust 10, 2026
CEO of Tesla Motors Elon Musk speaks at the Tesla Giga Texas manufacturing "Cyber Rodeo" grand opening party in Austin, Texas.
Innovation
Everything’s bigger in Texas: Musk’s planned $16.8 billion chip factory is five times bigger than the world’s current largest building
By Joshua HongAugust 10, 2026
Graph showing a happiness crash
Economy
Americans are as unhappy as ever. Could ‘a happiness-segregated society by marriage’ be why?
By Catherina GioinoAugust 10, 2026
Trump’s $200 billion tariff hit swells budget deficit to $2.1 trillion for 2026, CBO confirms
Economy
Trump’s $200 billion tariff hit swells budget deficit to $2.1 trillion for 2026, CBO confirms
By Nick LichtenbergAugust 10, 2026
A person looking through a metal grid on a window
Economy
‘A prisoner can oppose incarceration while remaining confined’: The paradox of Gen Z, capitalism, and consumption
By Nick LichtenbergAugust 10, 2026
Apple may scrap its all-glass iPhone. Wall Street hasn’t been this alarmed since Steve Jobs’ death
Big Tech
Apple may scrap its all-glass iPhone. Wall Street hasn’t been this alarmed since Steve Jobs’ death
By Sebastian HerreraAugust 10, 2026
Photo of Mark Zuckerberg and Meta AI logos
AI
Zuckerberg’s vision for an AI assistant is far more intimate than ChatGPT: It watches him sleep, train and bake with his 8-year-old daughter
By Mia OsmonbekovAugust 10, 2026
What is gap insurance, and when is it worth buying?
Personal Finance
What is gap insurance, and when is it worth buying?
By Joseph HostetlerAugust 10, 2026
Meta launches new open-weight AI models, as Mark Zuckerberg knocks U.S. ‘restrictions’ that benefit ‘foreign labs’
AI
Meta launches new open-weight AI models, as Mark Zuckerberg knocks U.S. ‘restrictions’ that benefit ‘foreign labs’
By Beatrice NolanAugust 10, 2026
Barnes & Noble CEO James Daunt was a Carnival Cruise ship officer before building his bookstore empire
Retail
Barnes & Noble CEO James Daunt was a Carnival Cruise ship officer before building his bookstore empire
By Sarah GlodekAugust 10, 2026
Cash-Out refinance vs. HELOC: How to choose the best option for your goals
Personal Finance
Cash-Out refinance vs. HELOC: How to choose the best option for your goals
By Joseph HostetlerAugust 10, 2026
Older man relaxing in an inflatable ring
Economy
The stock market may be doing so well that it’s causing more baby boomers and Gen Xers to drop out of the labor force
By Jason MaAugust 10, 2026
Michael Saylor speaks through a microphone as he gives a presentation.
Crypto
Strategy dumps yet more Bitcoin, latest $109 million sell-off comes amid a seven-week buying hiatus
By Camila Grigera NaónAugust 10, 2026
Photo of boxes of produce from Taylor Farms
Retail
Taylor Fresh Foods recalls jalapeños after supplier discloses potential salmonella contamination
By The Associated Press and Michelle ChapmanAugust 10, 2026
MacKenzie Scott has given away $26 billion and rarely speaks publicly. Now she’s releasing a novel—but you won’t find it on Amazon
Success
MacKenzie Scott has given away $26 billion and rarely speaks publicly. Now she’s releasing a novel—but you won’t find it on Amazon
By Sydney LakeAugust 10, 2026
A firefighter walks near burning areas as crews battle with wildfire named as 'Mines Fire' in Santa Clara County.
Environment
Global wildfire surge hits U.S., propelled by rising temperatures
By Bloomberg, Brian K. Sullivan, Leslie Kaufman and Todd WoodyAugust 10, 2026
Photo of Mark Zuckerberg
Success
Mark Zuckerberg says the future will have an ‘abundance of jobs’—and predicts a wave of new careers like world builders and personal biologists
By Preston ForeAugust 10, 2026
Exclusive: Corma raises $60 million from Sequoia for AI trained to defend against cyberattacks
AI
Exclusive: Corma raises $60 million from Sequoia for AI trained to defend against cyberattacks
By Emily ForliniAugust 10, 2026
c
Innovation
A fossil lost for 20 years just rewrote the map of dinosaur ancestry
By The ConversationAugust 10, 2026
Trump amps up pressure on billionaire Sargeant to exit Venezuela
Energy
Trump amps up pressure on billionaire Sargeant to exit Venezuela
By Patricia Garip and BloombergAugust 10, 2026
c
Politics
Spain’s $6 billion immigration deal with Morocco didn’t stop 70,000 people from crossing in 48 hours
By Kelsey Norman, Nicholas R. Micinski and The ConversationAugust 10, 2026
Photo of a solar farm in China
Energy
The world crossed a major solar milestone. No one noticed
By Akshat Rathi and BloombergAugust 10, 2026
l
Law
From Luigi Mangione to Eric Schmidt: how Gen Z’s dark and nonsensical humor shows a ‘suspension of seriousness’
By Evan Clarkson and The ConversationAugust 10, 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
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Current price of oil as of October 6, 2026placeholder alt text
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