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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 8 of 21
iran
Politics
Iran’s new Supreme Leader warns of ‘opening other fronts’ in first statement from hiding
By Jon Gambrell, David Rising, Mike Corder, Natalie Melzer and The Associated PressMarch 12, 2026
trader
Energy
Oil hits $100 a barrel and stocks sink as Iran War drags on with no end in sight
By Stan Choe and The Associated PressMarch 12, 2026
A man stands amidst a field of corn.
Economy
Fertilizer prices soar as Strait of Hormuz tensions rise—forcing U.S. farmers to rethink spring planting
By Sasha RogelbergMarch 12, 2026
A sign reading 'out of stock' is displayed at a gas station amid rising petrol prices in Manila, the Philippines
Economy
The Iran war is reviving remote work across the world — from Denmark to Vietnam
By Tristan BoveMarch 12, 2026
The latest accounting on Trump’s Iran war show it could spike the national debt by $65 billion over 60 days
Economy
The latest accounting on Trump’s Iran war show it could spike the national debt by $65 billion over 60 days
By Shawn TullyMarch 12, 2026
trump
Energy
Trump just put Republicans’ hold on the Senate at risk while sending the national debt higher, Morgan Stanley says
By Nick LichtenbergMarch 12, 2026
U.S. President Donald Trump speaks to the press after landing on Air Force One on March 11, 2026 at Joint Base Andrews, Maryland.
Economy
Stagflation risks are rising due to Iran conflict, as economist warns it’s ‘getting harder to argue disruption will be temporary’
By Eleanor PringleMarch 12, 2026
Photo: Infographic with map showing the Strait of Hormuz, locating floating objects (generally boats) captured by the Sentinel-1 radar satellite, before and after the announcement of the blockade of the strait by the Iranian Revolutionary Guard, according to an AFP analysis (Graphic by Valentin RAKOVSKY and Julie PEREIRA / AFP)
Energy
Oil went over $100 again after the U.S. admitted it cannot control the Strait of Hormuz
By Jim EdwardsMarch 12, 2026
fleet
Commentary
The shadow fleet and illegal oil are still moving through the Strait of Hormuz
By Charles Edward GehrkeMarch 11, 2026
picture of Bitcoin.
Crypto
Bitcoin outperforms gold and stocks since beginning of Iran war
By Carlos GarciaMarch 11, 2026
gas prices
Energy
Top economist says Iran war could trigger an economic ‘butterfly effect’—and keep inflation elevated for years
By Jake AngeloMarch 11, 2026
barrel
Energy
Plastics, fertilizers, clothing, medicines and electronics: $100-a-barrel oil has huge downstream consequences
By André O. Hudson and The ConversationMarch 11, 2026
trump
Commentary
There’s one particular way the Iran War is different from all the others in American history
By Charles Walldorf and The ConversationMarch 11, 2026
strait
Middle East
The Strait of Hormuz isn’t totally closed. Meet the ‘shadow fleet’
By Charles Edward Gehrke and The ConversationMarch 11, 2026
FILE - Fishermen work in front of oil tankers south of the Strait of Hormuz Jan. 19, 2012, offshore the town of Ras Al Khaimah in United Arab Emirates. (AP Photo/Kamran Jebreili, File)
Energy
The IEA is releasing a record 400 million barrels of emergency oil. It may not be enough
By The Associated Press, Samuel Petrequin and Kirsten GrieshaberMarch 11, 2026
trump
Energy
Iran gloats about hitting Trump where it hurts: ‘Just look at the state of the global economy and energy markets — it has been very painful for them’
By Jon Gambrell and The Associated PressMarch 11, 2026
trump
Politics
Americans’ opinions on the Iran War: polarized, except on the issue of whether to escalate
By Linley Sanders and The Associated PressMarch 11, 2026
trump
Politics
Trump’s flip-flopping gives juice to critics who say he just didn’t have a plan for the Iran War
By Aamer Madhani and The Associated PressMarch 11, 2026
strait
Energy
Understanding Iran’s Strait of Hormuz, and why Europe may be facing a Ukraine-like energy crisis again
By Jon Gambrell, Mae Anderson and The Associated PressMarch 11, 2026
iran
Energy
America says it’s destroying mine-laying Iranian ships as Trump denies that Iran has mined the Strait of Hormuz
By Jon Gambrell, Julie Watson, Samy Magdy and The Associated PressMarch 11, 2026
iran
Politics
Iran targets Dubai airport, commercial ships across the Gulf as war widens
By Jon Gambrell, David Rising and The Associated PressMarch 11, 2026
trump
Energy
Trump has to choose between ‘suicidal or dangerous’ choices on Iran’s Strait of Hormuz
By John Leicester and The Associated PressMarch 11, 2026
A livestream shows Jerome Powell, chairman of the US Federal Reserve, speaking after a Federal Open Market Committee (FOMC) meeting on the floor of the New York Stock Exchange (NYSE) in New York, US, on Wednesday, Jan. 28, 2026.
Economy
Trump may claim the war is ‘complete,’ but Wall Street expects the Fed to stay hawkish long after the conflict has ended
By Eleanor PringleMarch 11, 2026
Photo: A man walks near a banner displayed at Valiasr Square in central Tehran on March 10, 2026, depicting Iran's late supreme leader Ayatollah Ruhollah Khomeini (L) watching as his successor the late Ayatollah Ali Khamenei (C) hands over a national flag to his son and new supreme leader Mojtaba Khamenei (R). Iran marked the appointment of Ayatollah Mojtaba Khamenei to replace his father as its supreme leader with a new barrage of missiles against Israel and the Gulf states on March 9, as the Middle East war sent oil prices soaring. (Photo by AFP) / Attention editors: AFP covers the war in the Middle East through its extensive regional network, including bureaus in Tehran, Jerusalem, and several neighboring countries. Since the start of the conflict, journalists have been working under increasingly restrictive conditions. Authorities in several countries have limited reporters' movements, photo and live video coverage from sensitive locations. Some governments and armed groups have banned images of missile or drone strikes and other security-related sites. /
Politics
Iran’s new supreme leader is injured but reportedly ‘safe’ as traders sour on war exit strategy
By Jim EdwardsMarch 11, 2026
LIV Golf CEO Scott O’Neil on how stuck golfers got out of a besieged Gulf: ‘Precise planning, excellent resources and tremendous leadership’
Asia
LIV Golf CEO Scott O’Neil on how stuck golfers got out of a besieged Gulf: ‘Precise planning, excellent resources and tremendous leadership’
By Nicholas GordonMarch 11, 2026
Israeli president’s message to CEOs in D.C.: ‘We need to be steadfast, take a deep breath, and finish the undermining of Iran’
Middle East
Israeli president’s message to CEOs in D.C.: ‘We need to be steadfast, take a deep breath, and finish the undermining of Iran’
By Diane BradyMarch 11, 2026
trump
Middle East
How the Iran War is related to the real winner of the Iraq War 20 years ago
By Farah N. Jan and The ConversationMarch 10, 2026
strait of hormuz
Energy
Iran is reportedly laying mines in the Strait of Hormuz—Trump threatens to hit back ’20 times harder’
By Jake AngeloMarch 10, 2026
trump
Middle East
Something’s different about America since the early 2000s and it has to do with drill, baby, drill
By Amy Myers Jaffe and The ConversationMarch 10, 2026
trump
Economy
Trump’s economy was already exploding the national debt before his $1 billion-a-day war in Iran. Analysts warn about what comes next
By Nick LichtenbergMarch 10, 2026
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Most Popular
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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