 | |
 Cover of the issue dated June–July 2020 | |
| Editor | Alyson Shontell |
|---|---|
| Categories | Business magazines |
| Frequency | 12 issues/year (1929–1978) 24 issues/year (1978–2009) 18 issues/year (2009–2014) 16 issues/year (2014–2017) 12 issues/year (2018–2019) 10 issues/year (2020) 6 issues/year (2021–present) |
| Publisher | Fortune Media Group Holdings (Chatchaval Jiaravanon) |
| Total circulation (2018) | 852,202[1] |
| Founder | Henry Luce |
| Founded | 1929; 96 years ago (1929) |
| First issue | September 1, 1929; 96 years ago (1929-09-01) |
| Country | United States |
| Based in | New York City,New York, U.S. |
| Language | English |
| Website | fortune |
| ISSN | 0015-8259 (print) 2169-155X (web) |
| OCLC | 38999231 |
Fortune (stylized inall caps) is an American global business magazine headquartered inNew York City. It is published by Fortune Media Group Holdings, aglobal business media company.[2] The publication was founded byHenry Luce in 1929. The magazine competes withForbes andBloomberg Businessweek in the national business magazine category and distinguishes itself with long, in-depth feature articles.[3]
The magazine regularly publishes ranked lists, including ranking companies byrevenue, such as in theFortune 500 that it has published annually since 1955 and in theFortune Global 500.[4] The magazine is also known for its annualFortune Investor's Guide.[5]
Fortune was founded byTime magazine co-founder Henry Luce in 1929, who declared it as "the Ideal Super-Class Magazine," a "distinguished and de luxe" publication "vividly portraying, interpreting and recording the Industrial Civilization."[6]Briton Hadden, Luce's business partner, was not enthusiastic about the idea—which Luce intended to titlePower—but Luce went forward with it after Hadden's sudden death on February 27, 1929.[7]
In late October 1929, theWall Street Crash of 1929 occurred, marking the onset of theGreat Depression. In a memo to theTime Inc. board in November 1929, Luce wrote, "We will not be over-optimistic. We will recognize that this business slump may last as long as an entire year."[8] The publication made its official debut in February 1930. Its editor was Luce, managing editor Parker Lloyd-Smith, and art directorThomas Maitland Cleland.[9] Single copies of the first issue cost $1 (equivalent to $19 in 2024).[8] An urban legend says that Cleland mocked up the cover of the first issue with the $1 price because no one had yet decided how much to charge; the magazine was printed before anyone realized it, and when people saw it for sale, they thought the magazine must really have worthwhile content. There were 30,000 subscribers who had already signed up to receive that initial 184-page issue. By 1937, the number of subscribers had grown to 460,000, and the magazine had turned half a million dollars in annual profit.[10]
At a time when business publications were little more than numbers and statistics printed in black and white,Fortune was an oversized 11" × 14", using creamy heavy paper,full color throughout, and a high-quality cover[11] printed by a special process.[12] Leading graphic designersLeo Lionni andWill Burtin were amongFortune art directors in 1950s and 60s.[11]Fortune was also noted for its color photography, featuring the work ofMargaret Bourke-White,Ansel Adams, and others.Walker Evans served as its photography editor from 1945 to 1965.
During the Great Depression, the magazine developed a reputation for itssocial conscience and for a team of writers, includingJames Agee,Archibald MacLeish,John Kenneth Galbraith, andAlfred Kazin, hired specifically for their writing abilities. The magazine became an important leg of Luce's media empire;[citation needed] after the successful launch ofTime in 1923 andFortune in 1930, Luce went on to launchLife in 1936 andSports Illustrated in 1954.
From its launch in 1930 to 1978,Fortune was published monthly. In January 1978, it began publishing biweekly. In October 2009, citing decliningadvertising revenue andcirculation,Fortune began publishing every three weeks.[13][14] As of 2018,Fortune is published 14 times a year.[15]
Marshall Loeb was named managing editor in 1986. During his tenure atFortune, Loeb was credited[by whom?] with expanding the traditional focus on business and the economy with added graphs, charts, and tables, as well as the addition of articles on topics such as executive life and social issues connected to the world of business, including the effectiveness of public schools and on homelessness.[3]
During the years whenTime Warner owned Time Inc., between 1990 and 2014,[16][17]Fortune articles (as well as those fromMoney magazine) were hosted atCNNMoney.com.[18] In June 2014, after Time Inc. spun off from its corporate parent,[19]Fortune launched its own website at Fortune.com.[20]
On November 26, 2017, it was announced thatMeredith Corporation would acquire Time Inc. in a $2.8 billion deal. The acquisition was completed on January 31, 2018.[21][22][23]
On November 9, 2018, it was announced thatMeredith Corporation was sellingFortune to Thai billionaire Chatchaval Jiaravanon for $150 million.[24] A member ofThailand's wealthiest family, Jiaravanon is affiliated with the Thailand-based conglomerateCharoen Pokphand Group, which has holdings in agriculture, telecommunications, retail, pharmaceuticals, and finance.[25][26][27]
Since March 2020, access to Fortune.com has been restricted by apaywall.[28] In July 2025,Fortune laid off 10 percent of its staffers. At the time, the magazine had 360 full-time employees.[29]
Fortune Indonesia is an American global business magazine headquartered inNew York City and published for the Indonesian region. It is published by Fortune Media Group Holdings, aglobal business media company. FORTUNE Indonesia is available in print version every month as well as an online news portal. Currently, Fortune Indonesia is led by Editor-in-Chief Hendra Soeprajitno.[30][31]
Fortune regularly publishes ranked lists. In thehuman resources field, for example, it publishes a list of theBest Companies to Work For. Lists include companies ranked in order ofgross revenue and business profile, as well as business leaders:
There have been 20 top editors sinceFortune was conceived in 1929. Following the elimination of theeditor-in-chief role at Time Inc. in October 2013,[33] the top editor's title was changed from "managing editor" to "editor" in 2014.[34] The present title is "editor-in-chief."[35]
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