Fortune (magazine)

Fortune was founded by Time 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".Fortune prospectus. By Henry Luce. Fortune, September 1929, Volume One, Number Zero. Briton Hadden, Luce's business partner, was not enthusiastic about the idea – which Luce intended to title Power – but Luce went forward with it after Hadden's sudden death on February 27, 1929.Henry Luce & His Time by Joseph Epstein, Commentary, Vol. 44, No. 5, November 1967.

In late October 1929, the Wall Street Crash of 1929 occurred, marking the onset of the Great Depression. In a memo to the Time 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."{{cite news |title=How the World Really Works |author=Okrent, Daniel |author-link=Daniel Okrent |work=Fortune |date=September 19, 2005 |url=https://money.cnn.com/magazines/fortune/fortune_archive/2005/09/19/8272901/index.htm |archive-url=https://web.archive.org/web/20140808034103/http://archive.fortune.com/magazines/fortune/fortune_archive/2005/09/19/8272901/index.htm |archive-date=August 8, 2014 |url-status=live }} The publication made its official debut in February 1930. Its editor was Luce, managing editor Parker Lloyd-Smith, and art director Thomas Maitland Cleland."Current Magazines". The New York Times. February 2, 1930.

Single copies of the first issue cost US$1 ({{Inflation|US|1|1930|fmt=eq}}). 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 million dollars in annual profit.{{cite news |title=Fortune |first=Laura |last=Massey |newspaper=Peter Harrington London |date=December 11, 2010 |url=http://www.peterharrington.co.uk/blog/fortune/ |access-date=August 10, 2014 |archive-url=https://web.archive.org/web/20140812205608/http://www.peterharrington.co.uk/blog/fortune/ |archive-date=August 12, 2014 |url-status=live }}

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.{{Cite web|url=http://xroads.virginia.edu/~1930s/Print/fortune/background.html|title=Background|access-date=March 20, 2025|url-status=dead|archive-url=https://web.archive.org/web/20170729045717/http://xroads.virginia.edu/~1930s/print/fortune/background.html|archive-date=July 29, 2017}}. Fortune was also noted for its photography, featuring the work of Margaret 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 its social conscience, for Walker Evans and Margaret Bourke-White's color photographs, and for a team of writers including James Agee, Archibald MacLeish, John Kenneth Galbraith, and Alfred Kazin, hired specifically for their writing abilities. The magazine became an important leg of Luce's media empire;{{Citation needed|date=December 2019}} after the successful launch of Time in 1923 and Fortune in 1930, Luce went on to launch Life in 1936 and Sports 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 declining advertising revenue and circulation, Fortune began publishing every three weeks.{{cite news |url=http://mediadecoder.blogs.nytimes.com/2009/10/23/fortune-magazine-will-drop-from-25-to-18-issues-a-year/ |title= Fortune Magazine Will Drop From 25 to 18 Issues a Year |author= Pérez-Peña, Richard |author-link= Richard Pérez-Peña |date= October 23, 2009 |work=The New York Times |archive-url=https://web.archive.org/web/20110324113155/http://mediadecoder.blogs.nytimes.com/2009/10/23/fortune-magazine-will-drop-from-25-to-18-issues-a-year/ |archive-date= March 24, 2011 |url-status= live }}{{cite news |url=http://mediadecoder.blogs.nytimes.com/2009/10/23/fortune-magazine-will-drop-from-25-to-18-issues-a-year/ |title=Fortune Media Kit |date=October 23, 2009 |work=The New York Times |author=Pérez-Peña, Richard |author-link=Richard Pérez-Peña |archive-url=https://web.archive.org/web/20110324113155/http://mediadecoder.blogs.nytimes.com/2009/10/23/fortune-magazine-will-drop-from-25-to-18-issues-a-year/ |archive-date=March 24, 2011 |url-status=live }} As of 2018, Fortune is published 14 times a year.{{Cite web|url=https://subscription.fortune.com/storefront/subscribe-to-fortune/site/fo-bundletest2trm0118-tpl.html?link=1022055&fpa_oc=FO+0218+AA+Test+OWN|title=Fortune Magazine Subscription|website=subscription.fortune.com|access-date=February 6, 2018|archive-url=https://web.archive.org/web/20180207182902/https://subscription.fortune.com/storefront/subscribe-to-fortune/site/fo-bundletest2trm0118-tpl.html?link=1022055&fpa_oc=FO+0218+AA+Test+OWN|archive-date=February 7, 2018|url-status=live}}

Marshall Loeb was named managing editor in 1986. During his tenure at Fortune, Loeb was credited{{By whom|date=December 2019}} 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.{{cite news |title=The Media Business; A Shaper of Magazines Retires |first=Carmody |last=Deirdre |newspaper=The New York Times |date=May 2, 1994 |url=https://query.nytimes.com/gst/fullpage.html?res=9A03E2DA1330F931A35756C0A962958260 |access-date=February 10, 2009}}

During the years{{When|date=December 2019}} when Time Warner owned Time Inc., Fortune articles (as well as those from Money magazine) were hosted at CNNMoney.com.{{Cite web|url=https://money.cnn.com/magazines/fortune/fortune_archive/2012/02/06/toc.html|title=Fortune Magazine: Table of Contents - CNNMoney|website=money.cnn.com|access-date=December 18, 2019}} In June 2014, after Time Inc. spun off from its corporate parent,{{cite news|last1=Primack|first1=Dan|title=Time Inc. Becomes America's Oldest Startup|url=http://fortune.com/2014/06/09/time-inc-becomes-americas-oldest-startup/|access-date=July 30, 2014|archive-url=https://web.archive.org/web/20140730072651/http://fortune.com/2014/06/09/time-inc-becomes-americas-oldest-startup/|archive-date=July 30, 2014|url-status=live}} Fortune launched its own website at Fortune.com.{{cite news|last1=Barnett|first1=Megan|last2=Serwer|first2=Andy|title=Inside the All-New Fortune.com|url=http://fortune.com/2014/06/01/inside-the-all-new-fortune-com/|access-date=July 30, 2014|archive-url=https://web.archive.org/web/20140808031935/http://fortune.com/2014/06/01/inside-the-all-new-fortune-com/|archive-date=August 8, 2014|url-status=live}}

On November 26, 2017, it was announced that Meredith Corporation would acquire Time Inc. in a $2.8 billion deal. The acquisition was completed on January 31, 2018.{{cite press release |url=http://meredith.mediaroom.com/index.php?s=2311&item=137161 |title=Meredith Corporation Announces Completion Of Time Inc. Acquisition And Reports Fiscal 2018 Second Quarter And First Half Results |date=January 31, 2018 |publisher=Meredith Corporation |access-date=February 10, 2018 |archive-url=https://web.archive.org/web/20180204084323/http://meredith.mediaroom.com/index.php?s=2311&item=137161 |archive-date=February 4, 2018 |url-status=live }}{{cite journal |url=http://wwd.com/business-news/media/time-inc-first-day-meredith-corp-more-changes-to-come-11134819/ |title=Time Inc., Now Meredith and More Changes to Come |date=February 1, 2018 |last=Hays |first=Kali |journal=Women's Wear Daily |access-date=February 10, 2018 |archive-url=https://web.archive.org/web/20180208164733/http://wwd.com/business-news/media/time-inc-first-day-meredith-corp-more-changes-to-come-11134819/ |archive-date=February 8, 2018 |url-status=live }}{{cite journal |url=https://www.cjr.org/business_of_news/time-inc-meredith.php |title=Who killed Time Inc.? |journal=Columbia Journalism Review |last=Gold |first=Howard R. |date=February 1, 2018 |access-date=February 10, 2018 |archive-url=https://web.archive.org/web/20180211071641/https://www.cjr.org/business_of_news/time-inc-meredith.php |archive-date=February 11, 2018 |url-status=live }}

On November 9, 2018, it was announced that Meredith Corporation was selling Fortune to Thai billionaire Chatchaval Jiaravanon for $150 million.{{Cite web |url= https://www.vanityfair.com/news/2018/11/fortune-magazine-sale-chatchaval-jiaravanon |title='Everybody's Very, Very Positive About This': Fortune's New Buyer Isn't Marc Benioff—But for $150 Million, Who Cares! |website=Vanity Fair |date=November 9, 2018 |access-date= |archive-url= https://web.archive.org/web/20181122005735/https://www.vanityfair.com/news/2018/11/fortune-magazine-sale-chatchaval-jiaravanon |archive-date=November 22, 2018 |url-status= live |first = Joe |last = Pompeo}} Jiaravanon is affiliated with the Thailand-based conglomerate Charoen Pokphand Group, which has holdings in agriculture, telecommunications, retail, pharmaceutical, and finance.{{cite web|url=https://nypost.com/2018/11/09/thai-business-tycoon-buys-fortune-magazine-for-150-million/|title=Thai business tycoon buys Fortune magazine for $150 million|first=Keith J.|last=Kelly|date=November 9, 2018|access-date=December 25, 2018|archive-url=https://web.archive.org/web/20181116032411/https://nypost.com/2018/11/09/thai-business-tycoon-buys-fortune-magazine-for-150-million/|archive-date=November 16, 2018|url-status=live}}

Since March 4, 2020, access to Fortune.com has been restricted by a paywall.{{Cite web|title=Why we launched a paywall|url=https://fortune.com/2020/03/04/fortune-paywall-website-subscribe/|access-date=May 27, 2021|website=Fortune|language=en}}

Fortune Indonesia is an American global business magazine headquartered in New York City and published for the Indonesian region. It is published by Fortune Media Group Holdings, a global 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.{{cite web |title=About Us |url=https://fortune.com/about-us/ |archive-url=https://web.archive.org/web/20230101143323/https://fortune.com/about-us/ |archive-date=January 1, 2023 |access-date=July 24, 2023 |website=fortune.com |publisher=Fortune Media IP Limited}}{{Cite web |date=2021-07-28 |title=Hendra Soeprajitno pimpin Fortune Indonesia |url=https://www.telummedia.com/bahasa/public/news/hendra-soeprajitno-pimpin-fortune-indonesia/4nl46y3ev8 |archive-url=https://web.archive.org/web/20220913083223/https://www.telummedia.com/bahasa/public/news/hendra-soeprajitno-pimpin-fortune-indonesia/4nl46y3ev8 |archive-date=2022-09-13 |access-date=2022-09-13 |website=Telum Media |language=id}}

Fortune regularly publishes ranked lists. In the human resources field, for example, it publishes a list of the Best Companies to Work For. Lists include companies ranked in order of gross revenue and business profile, as well as business leaders:

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• Fortune 500
• Fortune 1000
• Fortune Global 500
• Fortune India 500
• 40 Under 40
• Fortune Most Powerful Women Entrepreneurs
• 100 Best Companies to Work For
• World's Most Admired Companies
• 100 Fastest Growing Companies
• The Unicorn List
• Businessperson of the Year
• Change the World
• The World's 50 Greatest Leaders
• The Ledger 40 Under 40
• Future 50
• 100 Best Workplaces For Millennials
• 100 Best Workplaces For Women
• 50 Best Workplaces for New College Graduates
• Best Workplaces for Diversity
• 50 Best Places to Live for Families
• Crypto 40[https://fortune.com/crypto/2023/04/10/fortune-crypto-40-blockchain-companies-nonprofits-decentralized-collectives/ Introducing Fortune’s Crypto 40: Blockchain businesses built to last] JEFF JOHN ROBERTS, Fortune, April 10, 2023.

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There have been 20 top editors since Fortune was conceived in 1929. Following the elimination of the editor-in-chief role at Time Inc. in October 2013,{{cite news |title=Reshuffling at Time Inc. to Set Table for Spinoff |first=Leslie |last=Kaufman |newspaper=The New York Times |date=October 31, 2013 |url= https://www.nytimes.com/2013/11/01/business/media/pearlstine-rejoining-time-as-chief-content-officer.html |access-date=August 30, 2014 |archive-url= https://web.archive.org/web/20140708001924/http://www.nytimes.com/2013/11/01/business/media/pearlstine-rejoining-time-as-chief-content-officer.html |archive-date=July 8, 2014 |url-status=live }} the top editor's title was changed from "managing editor" to "editor" in 2014.{{cite news |last1=Kile |first1=Daniel |title=Alan Murray Named Editor of Fortune |url=http://www.timeinc.com/about/news/press-release/alan-murray-named-editor-of-fortune/ |access-date=|date = July 22, 2014 |archive-url= https://web.archive.org/web/20140803060831/http://www.timeinc.com/about/news/press-release/alan-murray-named-editor-of-fortune/ |archive-date=August 3, 2014 |url-status=dead}} The present title is "editor-in-chief".

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• Parker Lloyd-Smith (1929–1931)
• Ralph Ingersoll (1932–1935)
• Eric Hodgins (1935–1937)
• Russell Davenport (1937–1940)
• Richardson Wood (1940–1941)
• Ralph D. "Del" Paine, Jr. (1941–1953)
• Hedley Donovan (1953–1959)
• Duncan Norton-Taylor (1959–1965)
• Louis Banks (1965–1970)
• Robert Lubar (1970–1980)
• William S. Rukeyser (1980–1986)
• Marshall Loeb (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 (2017–2021){{cite news | last1=Huddleston | first1=Tom Jr. |title=Fortune Names a New Editor-in-Chief |url=http://fortune.com/2017/03/15/fortune-editor-in-chief-clifton-leaf/ |url-access=subscription |website=Fortune |date=March 15, 2017 |access-date=March 15, 2017 |archive-url=https://web.archive.org/web/20170316040353/http://fortune.com/2017/03/15/fortune-editor-in-chief-clifton-leaf/ |archive-date=March 16, 2017 |url-status=live }}
• Alyson Shontell (2021-present){{cite web |title=Alyson Shontell |url=https://fortune.com/author/alyson-shontell/ |website=fortune.com |publisher=Fortune |access-date=July 24, 2023|archive-url= https://web.archive.org/web/20230104115320/https://fortune.com/author/alyson-shontell/ |archive-date= January 4, 2023}}

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{{portal|Business and economics|Media}}

• Fortune Battle of the Corporate Bands, an annual music competition for amateur company-sponsored bands
• List of United States magazines

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{{Reflist|30em}}

• James S. Miller, "White-Collar Excavations: Fortune Magazine and the Invention of the Industrial Folk". American Periodicals. vol. 13 (2003), pp. 84–104. [https://www.jstor.org/stable/20771157 In JSTOR]

• {{Official website}}

{{Fortune (magazine)|state=expanded}}

Category:Business magazines published in the United States

Category:Monthly magazines published in the United States

Category:English-language magazines

Category:Magazines established in 1929

Category:Magazines published in New York City

Category:1929 establishments in New York (state)

Category:Magazines formerly owned by Meredith Corporation

Category:Biweekly magazines published in the United States