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The heiress of $10 billion Perdue Farms and the $12 billion Sheraton Hotels empire wore hand-me-downs, still rides the subway, and flies economy

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Current price of oil as of September 1, 2026

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The Pentagon is giving 3 million military and civilian workers access to ChatGPT and Grok through a secure AI platform built for ‘warfighter needs’

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The heiress of $10 billion Perdue Farms and the $12 billion Sheraton Hotels empire wore hand-me-downs, still rides the subway, and flies economy

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Current price of oil as of September 1, 2026

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The Pentagon is giving 3 million military and civilian workers access to ChatGPT and Grok through a secure AI platform built for ‘warfighter needs’
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Fortune Gulf Brief is Fortune's weekly Tuesday newsletter covering business, investment, and economic trends across the Middle East, written by Fortune writer Melissa Hancock. It delivers expert analysis on the deals, leaders, and policies shaping the GCC region for global executives. Sign up here.
Saudi fires up Gulf AI race with $15 billion tech deals at LEAP 
Saudi fires up Gulf AI race with $15 billion tech deals at LEAP 

In this week’s Fortune Gulf Brief.

By Melissa HancockSeptember 2, 2026
War knocked Dubai’s airport traffic down 31%. Its CEO says its global hub ambitions haven’t changed
War knocked Dubai’s airport traffic down 31%. Its CEO says its global hub ambitions haven’t changed
By Inzamam RashidSeptember 1, 2026
Iran’s president admits ‘we have many problems’ and missiles ‘are of no use’ as the U.S. chokes its economy while weakening Tehran’s grip on Hormuz
Iran’s president admits ‘we have many problems’ and missiles ‘are of no use’ as the U.S. chokes its economy while weakening Tehran’s grip on Hormuz
By Jason MaAugust 30, 2026
New U.S. sanctions will hit ordinary Iranians hard. That may be the whole point as the crashing economy stirs fresh protests
New U.S. sanctions will hit ordinary Iranians hard. That may be the whole point as the crashing economy stirs fresh protests
By Jason MaAugust 29, 2026
Why Dubai has become a city of retail traders
Why Dubai has become a city of retail traders
By Inzamam RashidAugust 26, 2026
Trump’s pronouncements are triggering instant trades in the Middle East as UAE investors place bigger bets
Trump’s pronouncements are triggering instant trades in the Middle East as UAE investors place bigger bets
By Inzamam RashidAugust 25, 2026
Latest stories from Fortune
Suze Orman
Success
Despite being a multimillionaire, Suze Orman still cooks at home whenever possible—and says eating out is one of the biggest wastes of money
By Preston ForeSeptember 2, 2026
As Apple gets a new CEO in John Ternus, Tim Cook shares the 4 a.m. morning ritual he stuck by for 15 years in the top job
Success
As Apple gets a new CEO in John Ternus, Tim Cook shares the 4 a.m. morning ritual he stuck by for 15 years in the top job
By Emma BurleighSeptember 2, 2026
‘If you can’t beat ’em, eat ’em’: Italy is turning its hated invasive crab into a multimillion-dollar business
Environment
‘If you can’t beat ’em, eat ’em’: Italy is turning its hated invasive crab into a multimillion-dollar business
By Tatiana SatauaSeptember 2, 2026
From a German airport to a Polish drone factory fire, the EU confronts a wave of suspected Russian sabotage
Politics
From a German airport to a Polish drone factory fire, the EU confronts a wave of suspected Russian sabotage
By Lorne Cook and The Associated PressSeptember 2, 2026
Stan Kroenke, wearing a blue suit and sunglasses, smiles.
Investing
New LA Angels owner Stan Kroenke is quietly America’s largest private landowner, boasting 2.7 million acres and besting Bill Gates and Jeff Bezos
By Sasha RogelbergSeptember 2, 2026
Photo of wildfire
Environment
World to surpass 1.5-degree climate goal ‘in the next few years,’ UN warns
By The Associated Press and Seth BorensteinSeptember 2, 2026
Scott Bessent says 19 of the G20 finance ministers agreed to address ‘cheap imports’ but ‘China was the dissenter’
Economy
Scott Bessent says 19 of the G20 finance ministers agreed to address ‘cheap imports’ but ‘China was the dissenter’
By The Associated Press, Fatima Hussein and Chris RugaberSeptember 2, 2026
Current price of gold as of September 2, 2026
Personal Finance
Current price of gold as of September 2, 2026
By Danny BakstSeptember 2, 2026
More Middle EastPage 4 of 21
Trump to talk with allies at G7 summit in the coming week about removing mines from the Strait of Hormuz as deal to end Iran war nears
Politics
Trump to talk with allies at G7 summit in the coming week about removing mines from the Strait of Hormuz as deal to end Iran war nears
By Munir Ahmed, Samy Magdy, Aamer Madhani and The Associated PressJune 13, 2026
A deal to the end the U.S.-Iran war could be finalized within 24 hours. Tehran wants to charge ships crossing Hormuz ‘for services rendered’
Middle East
A deal to the end the U.S.-Iran war could be finalized within 24 hours. Tehran wants to charge ships crossing Hormuz ‘for services rendered’
By The Associated PressJune 13, 2026
U.S. energy secretary says 7 million barrels of oil exiting Persian Gulf daily, but Chevron CEO rebuts the claim
Energy
U.S. energy secretary says 7 million barrels of oil exiting Persian Gulf daily, but Chevron CEO rebuts the claim
By Jordan BlumJune 12, 2026
Elon Musk
Investing
When SpaceX starts trading, some ‘shareholders’ will discover they own nothing at all
By Jim EdwardsJune 12, 2026
T-minus 24 hours: On the eve of SpaceX IPO liftoff some Wall Street analysts say the stock is worth only half of Elon Musk’s price
Economy
T-minus 24 hours: On the eve of SpaceX IPO liftoff some Wall Street analysts say the stock is worth only half of Elon Musk’s price
By Jim EdwardsJune 11, 2026
A man guides a ship in the water.
Energy
Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
By Sasha RogelbergJune 10, 2026
Saudi economy redraws ambitions—‘going local’ is the new buzz phrase 
Middle East
Saudi economy redraws ambitions—‘going local’ is the new buzz phrase 
By Melissa HancockJune 10, 2026
The Gulf states are betting big on AI: who’s investing where?
Middle East
The Gulf states are betting big on AI: who’s investing where?
By Melissa HancockJune 9, 2026
SpaceX IPO means more to the Gulf than you might expect
Newsletters
SpaceX IPO means more to the Gulf than you might expect
By Melissa HancockJune 9, 2026
‘We expect it to leak’: OpenAI is frontrunning the narrative around its $1 trillion IPO
AI
‘We expect it to leak’: OpenAI is frontrunning the narrative around its $1 trillion IPO
By Jim EdwardsJune 9, 2026
The global airline industry’s profits could be cut in half as it braces for its worst year since the pandemic
Energy
The global airline industry’s profits could be cut in half as it braces for its worst year since the pandemic
By Marco Quiroz-GutierrezJune 8, 2026
Pope Leo receives seven-minute standing ovation after calling for the public’s ‘moral renewal’ to respect migrants
Politics
Pope Leo receives seven-minute standing ovation after calling for the public’s ‘moral renewal’ to respect migrants
By The Associated Press, Suman Naishadham and Nicole WinfieldJune 8, 2026
‘We didn’t see this coming’: Wall Street eats its forecasts as stocks sell off globally on fear of AI bubble ahead of SpaceX IPO
Economy
‘We didn’t see this coming’: Wall Street eats its forecasts as stocks sell off globally on fear of AI bubble ahead of SpaceX IPO
By Jim EdwardsJune 8, 2026
Iran fires missiles at Israel in first such bombardment since ceasefire as Trump says ‘I’m not happy about’ Israeli strikes on Lebanon
Middle East
Iran fires missiles at Israel in first such bombardment since ceasefire as Trump says ‘I’m not happy about’ Israeli strikes on Lebanon
By Kareem Chehayeb, Samy Magdy, Melanie Lidman and The Associated PressJune 7, 2026
The Strait of Hormuz is more open than previously thought as the U.S. shoots down Iranian drones threatening ships and provides ‘naval overwatch’
Energy
The Strait of Hormuz is more open than previously thought as the U.S. shoots down Iranian drones threatening ships and provides ‘naval overwatch’
By Jason MaJune 6, 2026
Why oil’s not at $200 after the biggest supply shock in history
Energy
Why oil’s not at $200 after the biggest supply shock in history
By Devika Krishna Kumar, Alex Longley, Yongchang Chin, Mia Gindis and BloombergJune 6, 2026
denton
Commentary
ICC Secretary General: The Hormuz clock that matters isn’t diplomatic — it’s agricultural
By John W.H. Denton AOJune 6, 2026
Elon Musk stares
Personal Finance
The S&P 500 will initially exclude SpaceX but Elon Musk is coming for your retirement savings anyway
By Jim EdwardsJune 5, 2026
Asia turns to U.S. oil and gas amid Iran war: ‘We get too much into that tree-hugging mode’
Energy
Asia turns to U.S. oil and gas amid Iran war: ‘We get too much into that tree-hugging mode’
By Jordan BlumJune 4, 2026
Trump tells Netanyahu, ‘You’re f—ing crazy’ and Wall Street sees it as a sign he’s losing patience with the war and wants it done
Investing
Trump tells Netanyahu, ‘You’re f—ing crazy’ and Wall Street sees it as a sign he’s losing patience with the war and wants it done
By Jim EdwardsJune 2, 2026
Welcome to the new voice of intelligence in the Middle East
Newsletters
Welcome to the new voice of intelligence in the Middle East
By Alyson ShontellJune 2, 2026
The U.S. and Europe feared the Iran conflict would curtail the Gulf’s appetite for global investments. The opposite is true
Middle East
The U.S. and Europe feared the Iran conflict would curtail the Gulf’s appetite for global investments. The opposite is true
By Melissa HancockJune 2, 2026
Property prices are down in Dubai. Is it a war-induced blip, or something more serious?  
Middle East
Property prices are down in Dubai. Is it a war-induced blip, or something more serious?  
By Melissa HancockJune 1, 2026
The Iran conflict has disrupted oil supply. Gulf states are now looking to multi-billion-dollar investments in renewables 
Energy
The Iran conflict has disrupted oil supply. Gulf states are now looking to multi-billion-dollar investments in renewables 
By Melissa HancockJune 1, 2026
India brings back COVID-era work-from-home rules and asks farmers to halve fertilizer use as the Iran war chokes its oil lifeline
Energy
India brings back COVID-era work-from-home rules and asks farmers to halve fertilizer use as the Iran war chokes its oil lifeline
By Marco Quiroz-GutierrezMay 12, 2026
A driver pumps gasoline at a gas station in Brooklyn, New York, in March.
Energy
Activists call surging oil and gas profits ‘horrifying’ as energy giants post profits twice as high as 2025
By Tristan BoveApril 28, 2026
A replica of a Lockheed Martin missile
Politics
‘A golden opportunity right now based on who’s in government.’ Trump’s bellicose presidency means defense firms are raking it in
By Tristan BoveApril 25, 2026
A person points at a page on the Marinetraffic website that shows commercial boats traffic on the edge of the Strait of Hormuz near the Iranian coast, in Paris on March 4, 2026. (Photo by JULIEN DE ROSA / AFP via Getty Images)
Energy
Iran has reopened the Strait of Hormuz—but experts say it now holds a card that works ‘almost like a nuclear deterrent’
By Eva RoytburgApril 17, 2026
Pope Leo XIV waving to a crowd
Politics
U.S. Catholic leaders criticize Trump for ‘disparaging words’ about the pope as Vatican clash risks alienating Catholic voters
By Tristan BoveApril 16, 2026
Pete Hegseth speaks with both hands in the air as Donald Trump looks on in the background.
Politics
‘I am certain’: Harvard policy expert warns the true cost of the Iran war to U.S. taxpayers will exceed $1 trillion
By Sasha RogelbergApril 15, 2026
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Success
The heiress of $10 billion Perdue Farms and the $12 billion Sheraton Hotels empire wore hand-me-downs, still rides the subway, and flies economyplaceholder alt text
By Emma BurleighAugust 30, 2026
Personal Finance
Current price of oil as of September 1, 2026placeholder alt text
By Joseph HostetlerSeptember 1, 2026
AI
The Pentagon is giving 3 million military and civilian workers access to ChatGPT and Grok through a secure AI platform built for ‘warfighter needs’placeholder alt text
By Marco Quiroz-GutierrezSeptember 1, 2026
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