Editing Fortune (magazine)

{{Short description|American business magazine}}
{{Use American English|date=February 2022}}
{{Use mdy dates|date=September 2023}}
{{Infobox magazine
| title = Fortune
| logo = [[File:Fortune magazine logo 2016.svg|frameless|class=skin-invert]]
| image_file = Fortune_cover_February-March_2021.png
| image_size = 200px
| image_caption = Cover of the issue dated February–March 2021
| editor = [[Alyson Shontell]]
| editor_title = Editor
| frequency = 12 issues/year (1929–1978)<br />24 issues/year (1978–2009)<br />18 issues/year (2009–2014)<br />16 issues/year (2014–2017)<br />12 issues/year (2018–2019)<br />10 issues/year (2020)<br />6 issues/year (2021–present)
| total_circulation = 852,202<ref>{{cite web|title=Audience|url=http://fortunemediakit.com/audience/|publisher=[[Time Inc.]]|access-date=June 22, 2019|archive-url=https://web.archive.org/web/20190608213645/https://www.fortunemediakit.com/audience/|archive-date=June 8, 2019|url-status=live}}</ref>
| circulation_year = 2018
| category = [[:Category:Business magazines published in the United States|Business magazines]]
| publisher = Fortune Media Group Holdings<br />(Chatchaval Jiaravanon)
| founder = [[Henry Luce]]
| founded = {{start date and age|1929}}
| firstdate = {{start date and age|1929|9|1}}
| based = [[New York City]], [[New York (state)|New York]], U.S.
| country = United States
| language = English
| website = {{URL|https://fortune.com/}}
| issn = 0015-8259
| eissn = 2169-155X
| oclc = 38999231
}}
'''''Fortune'''''  (stylized in [[all caps]]) is an American global business magazine headquartered in [[New York City]]. It is published by Fortune Media Group Holdings, a [[International business|global business]] media company.<ref>{{cite web |title=About Us |url=https://fortune.com/about-us/ |website=fortune.com |publisher=Fortune Media IP Limited |access-date=July 24, 2023 |archive-url= https://web.archive.org/web/20230101143323/https://fortune.com/about-us/ |archive-date= January 1, 2023}}</ref> The publication was founded by [[Henry Luce]] in 1929. The magazine competes with ''[[Forbes]]'' and ''[[Bloomberg Businessweek]]'' in the national business magazine category and distinguishes itself with long, in-depth feature articles.<ref name="NYT1994" />

The magazine regularly publishes ranked lists including ranking companies by [[revenue]] such as in the [[Fortune 500|''Fortune'' 500]] that it has published annually since 1955, and in the [[Fortune Global 500|''Fortune'' Global 500]].<ref>{{cite news |title=What Happened to the First Fortune 500? |first=Erika |last=Fry |magazine=Fortune |date=June 2, 2014 |url=http://fortune.com/2014/06/02/first-fortune-500/ |access-date=August 2, 2014 |archive-url=https://web.archive.org/web/20140806142752/http://fortune.com/2014/06/02/first-fortune-500/ |archive-date=August 6, 2014 |url-status=live }}</ref> The magazine is also known for its annual ''Fortune Investor's Guide''.<ref>{{Cite web|url=https://www.thebalancesmb.com/best-business-magazines-4176680|title=The 8 Best Business Magazines of 2020|last=Delbridge|first=Emily|date=November 21, 2019|website=The Balance Small Business|publisher=Dotdash|location=New York City|at=Best for Investors: Fortune |access-date=February 8, 2020|url-status=dead|archive-url=http://web.archive.org/web/20220928235840/https://www.liveabout.com/best-business-magazines-4176680|archive-date=September 28, 2022}}</ref>

==History==
''Fortune'' was founded by ''[[Time (magazine)|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".<ref>Fortune prospectus. By Henry Luce. ''Fortune'', September 1929, Volume One, Number Zero.</ref> [[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.<ref>Henry Luce & His Time by Joseph Epstein, ''[[Commentary (magazine)|Commentary]]'', Vol. 44, No. 5, November 1967.</ref>

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."<ref name=works>{{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 }}</ref> The publication made its official debut in February 1930. Its editor was Luce, managing editor Parker Lloyd-Smith, and art director [[Thomas Maitland Cleland]].<ref>"Current Magazines". ''The New York Times''. February 2, 1930.</ref>
Single copies of the first issue cost US$1 ({{Inflation|US|1|1930|fmt=eq}}).<ref name=works /> 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.<ref>{{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 }}</ref>

At a time when business publications were little more than numbers and statistics printed in black and white, ''Fortune'' was an oversized 11"&nbsp;× 14", using creamy heavy paper, and art on a cover printed by a special process.<ref name=uva>{{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}}.</ref> ''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 (magazine)|Time]]'' in 1923 and ''Fortune'' in 1930, Luce went on to launch ''[[Life (magazine)|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 [[newspaper circulation|circulation]], ''Fortune'' began publishing every three weeks.<ref>{{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 }}</ref><ref>{{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 }}</ref> As of 2018, ''Fortune'' is published 14 times a year.<ref>{{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}}</ref>

[[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.<ref name=NYT1994>{{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}}</ref>

During the years{{When|date=December 2019}} when [[Time Warner]] owned Time Inc., ''Fortune'' articles (as well as those from ''[[Money (magazine)|Money]]'' magazine) were hosted at [[CNNMoney.com]].<ref>{{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}}</ref> In June 2014, after Time Inc. spun off from its corporate parent,<ref>{{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}}</ref> ''Fortune'' launched its own website at Fortune.com.<ref>{{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}}</ref>

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.<ref name="meredithpr">{{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 }}</ref><ref name="wwd">{{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 }}</ref><ref name="itsover">{{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 }}</ref>

On November 9, 2018, it was announced that [[Meredith Corporation]] was selling ''Fortune'' to Thai billionaire Chatchaval Jiaravanon for $150 million.<ref>{{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 (magazine)|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}}</ref>  Jiaravanon is affiliated with the Thailand-based conglomerate [[Charoen Pokphand Group]], which has holdings in agriculture, telecommunications, retail, pharmaceutical, and finance.<ref>{{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}}</ref>

Since March 4, 2020, access to Fortune.com has been restricted by a [[paywall]].<ref>{{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}}</ref>

=== Fortune Indonesia ===
''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 [[International business|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.<ref>{{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}}</ref><ref>{{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}}</ref>

==Lists==
''Fortune'' regularly publishes ranked lists. In the [[human resources]] field, for example, it publishes a list of the [[100 Best Companies to Work For|Best Companies to Work For]]. Lists include companies ranked in order of [[gross revenue]] and business profile, as well as business leaders:
{{div col|colwidth=30em}}
*[[Fortune 500|''Fortune'' 500]]
*[[Fortune 1000|''Fortune'' 1000]]
*[[Fortune Global 500|''Fortune'' Global 500]]
*[[Fortune India 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<ref>[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.</ref>
{{div col end}}

==<span class="anchor" id="List of editors"></span> Editors ==
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,<ref>{{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 }}</ref> the top editor's title was changed from "managing editor" to "editor" in 2014.<ref>{{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}}</ref> The present title is "editor-in-chief".<ref name=AlyS/>

{{div col|colwidth=30em}}
* Parker Lloyd-Smith (1929–1931)
* [[Ralph Ingersoll (PM publisher)|Ralph Ingersoll]] (1932–1935)
* [[Eric Hodgins]] (1935–1937)
* [[Russell Davenport]] (1937–1940)
* Richardson Wood (1940–1941)
* [[Ralph Paine, Jr.|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|Walter Kiechel III]] (1994–1995)
* John Huey (1995–2001)
* Richard "Rik" Kirkland (2001–2005)
* Eric Pooley (2005–2006)
* [[Andrew Serwer|Andrew "Andy" Serwer]] (2006–2014)
* Alan Murray (2014–2017)
* [[Clifton Leaf]] (2017–2021)<ref>{{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 }}</ref>
* Alyson Shontell (2021-present)<ref name=AlyS>{{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}}</ref>
{{div col end}}

==See also==
{{portal|Business and economics|Media}}
* [[Fortune Battle of the Corporate Bands|''Fortune'' Battle of the Corporate Bands]], an annual music competition for amateur company-sponsored bands
* [[List of United States magazines]]
{{clear}}

==Footnotes==
{{Reflist|30em}}

==Further reading==

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

==External links==
* {{Official website}}

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

[[Category:Fortune (magazine)| ]]
[[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]]