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''Fortune'' is an American multinational business magazine headquartered in
New York City New York City (NYC), often simply called New York, is the most populous city in the United States. With an estimated 2019 population of 8,336,817 distributed over about , New York City is also the most densely populated major city in the Unit ...

New York City
. It is published by Fortune Media Group Holdings, owned by Thai businessman Chatchaval Jiaravanon. The publication was founded by
Henry Luce Henry Robinson Luce (April 3, 1898 – February 28, 1967) was an American magazine magnate who was called "the most influential private citizen in the America of his day". He launched and closely supervised a stable of magazines that transformed j ...
in 1929. The magazine competes with ''
Forbes ''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features original articles on finance, industry, investing, and marketing topics. ''Forbes'' al ...
'' and ''
Bloomberg Businessweek ''Bloomberg Businessweek'', previously known as ''BusinessWeek'', is an American weekly business magazine, published 50 times a year. Since 2009, the magazine is owned by New York City-based Bloomberg L.P. The magazine debuted in New York City in ...
'' in the national business magazine category and distinguishes itself with long, in-depth feature articles. The magazine regularly publishes ranked lists, including the
Fortune 500 The ''Fortune'' 500 is an annual list compiled and published by ''Fortune'' magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years. The list includes publicly held companies, along wit ...
, a ranking of companies by
revenue In accounting, revenue is the income or increase in net assets that an entity has from its normal activities (in the case of a business, usually from the sale of goods and services to customers). Commercial revenue may also be referred to as sales ...
that it has published annually since 1955. The magazine is also known for its annual ''Fortune Investor's Guide''.


History

''Fortune'' was founded by The Atlantic Monthly Company co-founder Henry Luce in 1929 as "the Ideal Super-Class Magazine", a "distinguished and de luxe" publication "vividly portraying, interpreting and recording the Industrial Civilization".
Briton Hadden Briton Hadden (February 18, 1898 – February 27, 1929) was the co-founder of ''Time'' magazine with his Yale classmate Henry Luce. He was ''Time''s first editor and the inventor of its revolutionary writing style, known as Timestyle. Though h ...

Briton Hadden
, Luce's business partner, was not enthusiastic about the idea – which Luce originally thought to title ''Power'' – but Luce went forward with it after Hadden's sudden death on February 27, 1929. In late October 1929, the
Wall Street Crash of 1929 The Wall Street Crash of 1929, also known as the Great Crash, was a major American stock market crash that occurred in the autumn of 1929. It started in September and ended late in October, when share prices on the New York Stock Exchange colla ...
occurred, marking the onset of the
Great Depression The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States. The timing of the Great Depression varied across the world; in most countries, it started in 1929 and las ...
. In a memo to the
Time Inc. Time Inc. was an American worldwide mass media corporation founded on November 28, 1922, by Henry Luce and Briton Hadden and based in New York City. It owned and published over 100 magazine brands, including its namesake ''Time'', ''Sports Illus ...
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." The publication made its official debut in February 1930. Its editor was Luce, managing editor Parker Lloyd-Smith, and art director
Thomas Maitland ClelandThomas Maitland Cleland (August 18, 1880 – November 9, 1964) was an American book designer, painter, illustrator, and type designer. Early life and education Thomas Maitland Cleland was born August 18, 1880 in Brooklyn, New York. Cleland studied ...
. Single copies of the first issue cost US$1 ($ in ). 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 that the magazine must really have worthwhile content. In fact, 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 million dollars in annual profit. 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, and art on a cover printed by a special process.Background
.
''Fortune'' was also noted for its photography, featuring the work of
Margaret Bourke-White Margaret Bourke-White (; June 14, 1904 – August 27, 1971) was an American photographer and documentary photographer. She is best known as the first foreign photographer permitted to take pictures of Soviet industry under the Soviet's five-year ...
,
Ansel Adams Ansel Easton Adams (February 20, 1902 – April 22, 1984) was an American landscape photographer and environmentalist known for his black-and-white images of the American West. He helped found Group f/64, an association of photographers advocati ...

Ansel Adams
, and others.
Walker Evans Walker Evans (November 3, 1903 – April 10, 1975) was an American photographer and photojournalist best known for his work for the Farm Security Administration (FSA) documenting the effects of the Great Depression. Much of Evans's work from t ...
served as its photography editor from 1945 to 1965. During the Great Depression, the magazine developed a reputation for its
social conscienceA social conscience is "a sense of responsibility or concern for the problems and injustices of society". While our conscience is related to our moral conduct in our day-to-day lives with respect to individuals, social conscience is concerned with t ...
, for
Walker Evans Walker Evans (November 3, 1903 – April 10, 1975) was an American photographer and photojournalist best known for his work for the Farm Security Administration (FSA) documenting the effects of the Great Depression. Much of Evans's work from t ...
and
Margaret Bourke-White Margaret Bourke-White (; June 14, 1904 – August 27, 1971) was an American photographer and documentary photographer. She is best known as the first foreign photographer permitted to take pictures of Soviet industry under the Soviet's five-year ...
's color photographs, and for a team of writers including
James Agee James Rufus Agee ( ; November 27, 1909 – May 16, 1955) was an American novelist, journalist, poet, screenwriter and film critic. In the 1940s, he was one of the most influential film critics in the U.S. His autobiographical novel, ''A Death in t ...
,
Archibald MacLeish Archibald MacLeish (May 7, 1892 – April 20, 1982) was an American poet and writer, who was associated with the modernist school of poetry. MacLeish studied English at Yale University and law at Harvard University. He enlisted in and saw action ...

Archibald MacLeish
,
John Kenneth Galbraith John Kenneth Galbraith (October 15, 1908 – April 29, 2006), also known as Ken Galbraith, was a Canadian-American economist, diplomat, public official and intellectual. A leading proponent of 20th-century American liberalism, his books on econ ...

John Kenneth Galbraith
, and
Alfred Kazin Alfred Kazin (June 5, 1915 – June 5, 1998) was an American writer and literary critic. He wrote often about the immigrant experience in early twentieth century America. Early life Like many of the other New York Intellectuals, Alfred Kazin ...
, hired specifically for their writing abilities. The magazine became an important leg of Luce's media empire; after the successful launch of ''
Time Time is the indefinite continued progress of existence and events that occur in an apparently irreversible succession from the past, through the present, into the future. It is a component quantity of various measurements used to sequence event ...
'' in 1923 and ''Fortune'' in 1930, Luce went on to launch ''
Life Life is a characteristic that distinguishes physical entities that have biological processes, such as signaling and self-sustaining processes, from those that do not, either because such functions have ceased (they have died), or because the ...
'' in 1936 and ''
Sports Illustrated ''Sports Illustrated'' (''SI'') is an American sports magazine owned by Authentic Brands Group, and was first published in August 1954. It was the first magazine with circulation over one million to win the National Magazine Award for General E ...
'' in 1954. From its launch in 1930 to 1978, ''Fortune'' was published monthly. In January 1978, it began publishing biweekly. In October 2009, citing declining
advertising Advertising is a marketing communication that employs an openly sponsored, non-personal message to promote or sell a product, service or idea.William J. Stanton. ''Fundamentals of Marketing''. McGraw-Hill (1984). Sponsors of advertising are t ...
revenue and circulation, ''Fortune'' began publishing every three weeks. As of 2018, ''Fortune'' is published 14 times a year.
Marshall Loeb Marshall Robert Loeb (May 30, 1929 – December 9, 2017) was an American author, editor, commentator and columnist specializing in business matters, who spent 38 years in the Time Inc. publication network which included service as managing editor o ...
was named managing editor in 1986. During his tenure at ''Fortune'', Loeb was credited 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. During the years when
Time Warner Warner Media, LLC, doing business as WarnerMedia, is an American multinational mass media and entertainment conglomerate corporation owned by AT&T and headquartered in New York City, United States. It was originally formed in 1990 by Steve Ross ...
owned Time Inc., ''Fortune'' articles (as well as those from ''
Money In a 1786 James Gillray caricature, the plentiful money bags handed to King George III are contrasted with the beggar whose legs and arms were amputated, in the left corner">174x174px Money is any item or verifiable record that is generally a ...
'' magazine) were hosted at CNNMoney.com. In June 2014, after Time Inc. spun off from its corporate parent, ''Fortune'' launched its own website at Fortune.com. On November 26, 2017, it was announced that
Meredith Corporation Meredith Corporation is an American media conglomerate based in Des Moines, Iowa. The company owns magazines, television stations, websites, and radio stations. Meredith's publications have a readership of more than 120 million, paid circulation ...
would acquire Time Inc. in a $2.8 billion deal. The acquisition was completed on January 31, 2018. On November 9, 2018, it was announced that
Meredith Corporation Meredith Corporation is an American media conglomerate based in Des Moines, Iowa. The company owns magazines, television stations, websites, and radio stations. Meredith's publications have a readership of more than 120 million, paid circulation ...
was selling ''Fortune'' to Thai billionaire Chatchaval Jiaravanon for $150 million. Jiaravanon is affiliated with the Thailand-based conglomerate
Charoen Pokphand Group The Charoen Pokphand Group (CP) (; ) is a Thai conglomerate based in Bangkok. It is Thailand's largest private company and one of the world's largest conglomerates. The company describes itself as having eight business lines covering 13 business g ...
, which has holdings in agriculture, telecommunications, retail, pharmaceutical, and finance.


Lists

''Fortune'' regularly publishes ranked lists. In the
human resources Human resources is the set of people who make up the workforce of an organization, business sector, industry, or economy. A narrower concept is human capital, the knowledge and skills which the individuals command. Similar terms include manpowe ...
field, for example, it publishes a list of the Best Companies to Work For. Lists include companies ranked in order of
gross revenue In accounting, revenue is the income or increase in net assets that an entity has from its normal activities (in the case of a business, usually from the sale of goods and services to customers). Commercial revenue may also be referred to as sales ...
and business profile, as well as business leaders: *
Fortune 500 The ''Fortune'' 500 is an annual list compiled and published by ''Fortune'' magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years. The list includes publicly held companies, along wit ...
*
Fortune 1000 The Fortune 1000 are the 1,000 largest American companies ranked by revenues, as compiled by the American business magazine ''Fortune''. It only includes companies which are incorporated or authorized to do business in the United States, and for wh ...
*
Fortune Global 500 The ''Fortune'' Global 500, also known as Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by ''Fortune'' magazine. Methodology Until 1989, it listed only ...
*
Fortune India 500 The Fortune India 500 is a ranking of the top 500 corporations in India compiled on the basis of latest sales and gross revenue figures. The list is published annually by ''Fortune'' magazine. Fortune India is Fortune's sixth international edition f ...
* 40 Under 40 * Most Powerful Women *
100 Best Companies to Work For '' The 100 Best Companies to Work For is an annual list published by ''Fortune'' magazine that ranks U.S. companies based on employee happiness and perks''.'' Like the Fortune 500, the list includes both public and private companies. The list was f ...

World's Most Admired Companies100 Fastest Growing CompaniesThe Unicorn ListBusinessperson of the YearChange the WorldThe World's 50 Greatest LeadersThe Ledger 40 Under 40Future 50100 Best Workplaces For Millennials100 Best Workplaces For Women50 Best Workplaces for New College GraduatesBest Workplaces for Diversity


Editors

There have been 19 top editors since ''Fortune'' was conceived in 1929. Following the elimination of the
editor-in-chief An editor-in-chief, also known as lead editor or chief editor, is a publication's editorial leader who has final responsibility for its operations and policies. The highest-ranking editor of a publication may also be titled editor, managing editor ...
role at Time Inc. in October 2013, the top editor's title was changed from "managing editor" to "editor" in 2014. * Parker Lloyd-Smith (1929–1931) * Ralph Ingersoll (1932–1935) * Eric Hodgins (1935–1937) *
Russell Davenport Russell Wheeler Davenport (1899 – April 19, 1954) was an American publisher and writer. Life and career Davenport was born in Bethlehem, Pennsylvania, the son of Russell W. Davenport, Sr., a vice president of Bethlehem Steel, and Cornelia Whipp ...
(1937–1940) * Richardson Wood (1940–1941) * Ralph D. "Del" Paine, Jr. (1941–1953) * Hedley Donovan (1953–1959) *
Duncan Norton-Taylor Duncan Norton-Taylor was an American journalist who was a senior editor at ''Time'' magazine and managing editor at ''Fortune'' magazine from the 1940s through the 1960s. Background Norton-Taylor graduated Brown University, where he worked at The ...
(1959–1965) * Louis Banks (1965–1970) * Robert Lubar (1970–1980) *
William S. Rukeyser William S. Rukeyser (born 1939) is an American journalist who was the founding managing editor of ''Money'' magazine and managing editor of ''Fortune''. Biography From its founding in 1998 until 2009 Rukeyser was editorial director of ''Corporate B ...
(1980–1986) *
Marshall Loeb Marshall Robert Loeb (May 30, 1929 – December 9, 2017) was an American author, editor, commentator and columnist specializing in business matters, who spent 38 years in the Time Inc. publication network which included service as managing editor o ...
(1986–1994) * Walter Kiechel III (1994–1995) * John Huey (1995–2001) * Richard "Rik" Kirkland (2001–2005) * Eric Pooley (2005–2006) * Andrew "Andy" Serwer (2006–2014) * Alan Murray (2014–2017) *
Clifton Leaf Clifton Leaf is an American journalist and the editor-in-chief of ''Fortune'' magazine since March 2017. He graduated from Williams College. Awards * 2005 Gerald Loeb Award for business journalism in Magazines References American ...
(2017 to present)


See also

* Fortune Battle of the Corporate Bands, an annual music competition for amateur company-sponsored bands *
List of United States magazines This is a list of United States magazines. Automotive * ''Automobile'' * ''Automotive News'' * ''Autoweek'' * ''Car and Driver'' * ''Hot Rod'' * ''Motor Trend'' * ''Petersen's 4-Wheel & Off-Road'' * ''Road & Track'' * ''Truckin' Magazine'' ...


Footnotes


Further reading

* James S. Miller, "White-Collar Excavations: ''Fortune Magazine'' and the Invention of the Industrial Folk," ''American Periodicals,'' vol. 13 (2003), pp. 84–104
In JSTOR


External links

*
Fortune Latinamerica

Fortune India

Fortune China

Fortune Turkey

Fortune Mexico

List of 100 Best Companies to Work For
* {{Fortune (magazine), state=expanded Business magazines published in the United States Monthly magazines published in the United States
English-language magazines ''See also:'' :English-language journals {{CatAutoTOC Magazines Magazines by language ...
Magazines established in 1929
Magazines published in New York City {{CatAutoTOC Magazines New York City New York City Magazines ...
1929 establishments in New York (state) Magazines formerly owned by Meredith Corporation Biweekly magazines published in the United States