CATEGORIES

Norway's Nicolai Tangen Runs the World's Biggest Sovereign Fund. Can He Leverage its Assets to Change Business for the Better? - Nicolai Tangen, the Norwegian founder of London hedge fund AKO Capital, was picked by Norway's central bank to be the next CEO of its gargantuan oil-and-gas-financed investment fund, whose value had soared above $1 trillion.

Oslo, with its neatly painted houses and serene waterfront, is not known for high drama. But in 2020, Norway’s capital erupted in controversy over one spectacularly wealthy investor, a splashy event in Philadelphia—and the biggest sovereign wealth fund on the planet.

KKR's $1 trillion gamble

The co-CEOs of KKR have a radical strategy to supercharge growth—and chart a path far different from that of their mentors Kravis and Roberts.

Inside one of Silicon Valley's most mysterious venture capital funds

Iconiq Growth, which has long avoided the spotlight, recently closed a $5.8 billion startup war chest.

The rise and fall of Jump Crypto

A secretive trading firm got itself a crypto arm and a 25-year-old whiz kid to run it. Then came the $40 billion Terra disaster.

The troubled Tyson heir

The youngest Fortune 500 CFO was set up to run his family’s $21 billion chicken empire. His erratic behavior could change that.

The startups betting you can quit GLP-1s and stay thin

Some weight-loss companies are marketing Ozempic and Wegovy as a short-term holy grail. Doctors say it doesn't work that way.

The Amazon Way has its midlife crisis

Jeff Bezos’s famed management rules are slowly unraveling inside Amazon. Can they survive the Andy Jassy era?

Tech AI's Hidden Biases May Be Influencing What You Think. Here's What Should Be Done to Stop It - In less than two years, artificial intelligence has radically changed how many people write and find information.

In less than two years, artificial intelligence has radically changed how many people write and find information. While searching for details about Supreme Court precedent or polishing a college essay, millions seek help from AI chatbots like OpenAI's ChatGPT or Anthropic's Claude.In his newly published book, Mastering AI: A Survival Guide to Our Superpowered Future, Fortune AI editor Jeremy Kahn explores this new tech-infused reality and what should be done to avert the inevitable pitfalls. In the following excerpt, he focuses on the little-recognized problem of subtle bias in AI and the potentially profound influence it can have on what users believe.

A Return of the Entrepreneurial Spirit- As Japan finally emerges from a long period of slow growth, soy sauce producer Kikkoman continues its global advance.

In February 2024, the Nikkei Stock Average in Japan surpassed the record high that it set in 1990. To some, this peak signified that the country could finally put the "lost decades" of deflation and anemic growth behind. Yuzaburo Mogi, honorary CEO and chairman of the board of Kikkoman, is cautiously optimistic about this milestone. With a generational shift in motion, he sees Japan's leadership regaining some of its old dynamism and entrepreneurial spirit.

The AI Hangover- For thirty-five years, Fortune has been tracking the world's largest companies in our Global 500 ranking.

For thirty-five years, Fortune has been tracking the world's largest companies in our Global 500 ranking. We recently sat down with the head of Sequoia Capital, Roelof Botha, at our Brainstorm Tech conference in Park City, Utah, and at greater length for this issue's cover story. As he told Fortune's Michal Lev-Ram: "Winning isn't everything, it's the only thing." To learn how he's guiding the firm to sort winners from losers amid the noise and hype, see page 60.

A NEW HOPE FOR DEMENTIA TREATMENT

Recent clinical trial results offer a promising path forward for patients suffering from dementia with Lewy bodies.

Golf Gets a Tech Upgrade

TGL, a new golf league, is partnering with the PGA TOUR to fuse advanced technology and live action.

THE LILLY-PALOOZA

Not long ago, it looked like the best days of Eli Lilly were behind it. But tirzepatide, a drug for diabetes and obesity, has sent the 148-year-old pharma giant on a wild ride. It's now the ninth most valuable company in the world.

INSIDE VW'S EV COMEBACK

First Tesla outmaneuvered Volkswagen. Now Chinese EVs are challenging VW's dominance. The world's largest automaker was late to the EV revolution, but it's racing to catch up by reaching into its deep pockets and leveraging its massive scale.

SEQUOIA IS A VC GIANT. CAN ROELOF BOTHA KEEP IT GROWING?

The low-key investor leads the famed venture capital firm that helped launch Apple, Google, and Nvidia. To keep Sequoia's 50-year winning streak alive in a changing industry, he's uprooting old habits and planting new seeds.

HOW BIG CAN ROBINHOOD ALLY GET?

CEO VLAD TENEV AND THE FINTECH UPSTART HAVE CHANGED THE WAY AMERICANS INVEST. BUT TO MAKE SERIOUS MONEY, THEY'LL HAVE TO ELEVATE THEIR GAME.

WHAT CAN BUSINESS EXPECT FROM THE NEXT PRESIDENT?

There's one thing Republicans and Democrats can agree on: higher tariffs on imports to America. Here are the challenges both parties' proposals will pose for corporate leaders.

CARS APOCALYPSE CHIC: TESLA'S CYBERTRUCK GIVES LUXURY A NEW SHAPE

FIVE YEARS AFTER Tesla CEO Elon Musk unveiled plans for his polarizing Cybertruck, I found myself standing in a downtown Los Angeles parking lot on an afternoon in July, surveying the automaker's surrealist take on the electric utility vehicle: a triangular behemoth, sharp-angled and brutalist.

LEADING JAPAN'S ECONOMIC SECURITY IMPERATIVE

As geopolitical tensions rise, consulting firm Kitamura Economic Security is helping businesses fortify their defenses and seize opportunities.

INVEST AS AI GOBBLES ELECTRICITY, IS NOW THE TIME TO BUY UNLOVED UTILITY STOCKS? BY LEO SCHWARTZ

INVEST AS AI GOBBLES ELECTRICITY, IS NOW THE TIME TO BUY UNLOVED UTILITY STOCKS?

Nurturing Talent for a Better Future

The Surplus Line Association of California is proving that when it comes to workplace excellence, trust is the key.

Building a Culture on Feedback

IAT Insurance Group's commitment to its workforce makes the company a great place to work year after year.

GOVERNANCE WHAT AMERICAN POLITICS CAN LEARN ABOUT SUCCESSION PLANNING FROM AMERICAN CORPORATIONS

A POPULAR ADAGE about leaders says the most effective of them build self-sufficient organizations. If the conductor leaves, the orchestra plays on.

Tech Silicon Valley Startups Are Invading The Military Market - Silicon Valley and the military have a complicated history.

At the end of February 2022-a few days after cofounders Luke Allen and Steven Simoni sold their 90-person restaurant-tech startup to DoorDash― Russia invaded Ukraine.

Inside the Cult of Costco

The retailer's hundreds of warehouse stores are overstuffed and overwhelming-and that's all by design. We delve into the method behind the madness that turns shoppers into obsessives.

A Disastrous Hack

The health care industry is still recovering from a cyberattack that shut down insurance payments and stole a third of Americans' health data.

The Death of the American Pharmacy

Bartell's, a beloved Seattle drugstore now owned by debt-laden Rite Aid, is closing many of its locations. Its demise is the latest symptom of a national health care crisis that hurts all of us.

The Vigilance of Satya Nadella

Ten years in as CEO, Nadella has turned Microsoft into the world's most valuable company and one of the top players in Al. He's navigated two sweeping tech transformations. His biggest worry is that he won't see the next one coming.

Walmart's Mr. Fix-It

When Doug McMillon became CEO in 2014, Walmart's sales had stagnated, and customers were defecting to Amazon in droves. Over the next 10 years, he built an e-commerce powerhouse-and extended Walmart's ironfisted hold on the Fortune 500's No. 1 spot. Can McMillon and the big-box giant stay on top in a digital age?

A 70-Year Journey in the Fortune 500 Time Machine

The 1955 list, our first-ever ranking of U.S. companies by revenue, reveals a lot about how American business once saw itself. It also shows how dramatically the economy and the list have changed.