Behind the nation’s greatest college basketball teams is a steady flow of donations from billionaires with varying industry backgrounds and connections to the schools. Among them are the cofounder of the Carlyle Group, one of the world’s largest investment firms;…
The U.S. government is insolvent. That’s not hyperbole — it’s the conclusion drawn directly from the Treasury Department’s own consolidated financial statements for fiscal year 2025, released last week to near-total media silence. The numbers: $6.06 trillion in total assets…
The U.S. economy was supposed to start the year with a bang, fueled by an unusually large jump in tax refunds from President Donald Trump’s tax cut legislation. Yet spiking gas prices are on track to eat up those refunds, leaving…
As of 9 a.m. Eastern Time today, oil sold for $101.44 per barrel (using Brent as the benchmark, which we’ll get into momentarily). That’s $10.64 lower than yesterday—but approximately a $29 rise over the past year. Oil price per barrel…
Oil was above $113 per barrel this morning and there is another massive global selloff in the equity markets underway: S&P 500 futures were down 0.85% prior to the open in New York. The index closed down 1.51% in its…
Supermicro has spent the past three years riding the AI wave in Silicon Valley but before the recent allegations involving a co-founder smuggling Nvidia chips, it previously ran afoul of export-control regulations. The hardware manufacturer’s co-founder, Yih-Shyan “Wally” Liaw, was…
Good morning. To some extent, every CEO is a wartime CEO when their country is at war. But the concept, and the characteristics that go with it, extend far beyond geopolitics. As Fortune’s Geoff Colvin points out in this piece,…
For decades, building a billion-dollar company required a village. Raise massive capital, hire hundreds of people, build a sprawling department for every operational headache — from VAT compliance in Marseille to sourcing logistics in Shenzhen. Headcount was power. Scale required…
Michael Polyani, the British-Hungarian philosopher, economist, and scientist, is perhaps best known today for coining the term “tacit knowledge.” His great observation was that a large part of what constitutes expertise in any given field is never written down. In…
A California sheriff running for governor has seized more than half a million ballots cast in a November special election from county election officials, saying he’s investigating a ballot count discrepancy. County elections officials have disputed the claims by Riverside County Sheriff…