Fortune (magazine)
American global business magazine founded by Henry Luce.
Fortune is an American global business magazine headquartered in New York City and published by Fortune Media Group Holdings. Founded in 1929 by Henry Luce, the co-founder of *Time*, the magazine debuted in February 1930, just months after the Wall Street crash that triggered the Great Depression. Luce envisioned it as a high-end publication that would vividly portray industrial civilization. From the start, it stood apart from other business publications of the era, which were largely black-and-white and statistical; *Fortune* was oversized, printed on heavy cream paper, and used full color throughout, with a specially produced cover. Its first issue cost one dollar and had 30,000 subscribers. By 1937, circulation had grown to 460,000, and the magazine was turning a substantial annual profit.
During the Great Depression, *Fortune* gained a reputation for social conscience, hiring notable writers such as James Agee and Archibald MacLeish for their literary abilities. It also featured color photography by Margaret Bourke-White and Ansel Adams, and Walker Evans served as its photography editor for two decades. The magazine was published monthly until 1978, then biweekly, and since 2018 has appeared 14 times a year. It is known for its long, in-depth feature articles and for competing with *Forbes* and *Bloomberg Businessweek*. *Fortune* regularly publishes influential ranked lists, most famously the *Fortune 500* (since 1955) and the *Fortune Global 500*, along with many others covering companies, leaders, and workplaces. After ownership by Time Warner and later Meredith Corporation, the magazine was sold in 2018 to Thai billionaire Chatchaval Jiaravanon. In 2020, its website introduced a paywall.
- field
- Business magazine
- nationality
- American
- known_for
- Fortune 500 list, Fortune Global 500, Fortune Investor's Guide
- headquarters
- New York City
Quick Facts
- Title
- Fortune
- Editor
- Alyson Shontell
- Editor Title
- Editor
- 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)
- Total Circulation
- 852,202
- Circulation Year
- 2018
- Category
- Business magazines
- Publisher
- Fortune Media Group Holdings / (Chatchaval Jiaravanon)
- Founder
- Henry Luce
- Firstdate
- 1929-09-01
- Based
- New York City, U.S.
- Country
- United States
Facts from the source article.
Lore & Background
An urban legend says that art director Thomas Maitland Cleland mocked up the cover 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. At a time when business publications were little more than numbers and statistics printed in black and white, Fortune was oversized (11" × 14"), using creamy heavy paper, full color throughout, and a high-quality cover printed by a special process. Leading graphic designers Leo Lionni and Will Burtin were among Fortune art directors in the 1950s and 1960s. The magazine was also noted for its color photography, featuring the work of Margaret Bourke-White, Ansel Adams, and others. During the Great Depression, the magazine developed a reputation for its social conscience and for a team of writers, including James Agee, Archibald MacLeish, John Kenneth Galbraith, and Alfred Kazin, hired specifically for their writing abilities. spun off from its corporate parent, Fortune launched its own website at Fortune.com.
Reader's Guide
Fortune's significance lies in its pioneering role as a high-quality, visually distinctive business magazine that elevated business journalism beyond dry statistics. Its long, in-depth feature articles and use of full-color photography set a new standard. During the Great Depression, Fortune gained a reputation for social conscience, hiring notable writers like James Agee and John Kenneth Galbraith. Its ownership changed from Time Inc. Fortune's legacy includes its influence on business reporting, its iconic design, and its role in Luce's media empire alongside Time, Life, and Sports Illustrated.
Did You Know?
- Fortune was originally intended to be titled 'Power' by Henry Luce.
Frequently Asked Questions
Where is Fortune (magazine) based?
The magazine operates out of New York City and is published by Fortune Media Group Holdings.
Why does Fortune (magazine) matter in the publishing world?
As a long-running American business title, it has shaped corporate discourse through its influential annual rankings and its tradition of detailed, investigative-style feature writing.
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