Fortune (magazine)
American global business magazine founded by Henry Luce.
Fortune is an American global business magazine based 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 during the Great Depression. Luce envisioned it as a high-end publication that would vividly portray industrial civilization. The first issue, priced at one dollar, had 30,000 subscribers and featured an oversized format with heavy paper, full color, and high-quality printing—a stark contrast to the black-and-white, statistics-heavy business publications of the era. The magazine quickly distinguished itself through long, in-depth feature articles and a strong emphasis on photography, showcasing work by noted artists such as Margaret Bourke-White and Ansel Adams. During the Depression, it developed a reputation for social conscience, employing writers like James Agee and John Kenneth Galbraith. Fortune is renowned for its ranked lists, most famously the Fortune 500, which has ranked companies by revenue annually since 1955, and the Fortune Global 500. It also publishes the Fortune Investor’s Guide. Initially a monthly, it shifted to biweekly in 1978 and later to every three weeks in 2009; as of 2018 it publishes 14 times a year. The magazine was part of Time Inc. until that company was acquired by Meredith Corporation in 2018, which then sold Fortune to Thai billionaire Chatchaval Jiaravanon later that year. In 2020, Fortune.com introduced a paywall. The magazine competes with *Forbes* and *Bloomberg Businessweek* in the national business magazine category.
- field
- Business magazine
- nationality
- American
- known_for
- Fortune 500 list, Fortune Global 500, Fortune Investor's Guide
- headquarters
- New York City
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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