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Panera founder and Cava chairman Ron Shaich bets $100 million on Level99, bringing his restaurant industry playbook to entertainment
Act III Holdings doubles its stake in Level99 after the Disney Springs opening, betting restaurant-industry category discipline can build a dominant player in entertainment.
Exclusive: Twin sisters built GlossGenius into the latest female-founded unicorn. Now they’re debuting AI for small businesses far beyond beauty
GlossGenius just raised $44 million at a $1.15 billion valuation as it rebrands as Genius AI, moving beyond the beauty industry.
Prediction markets Swell to 27% of sports bets during World Cup
Kalshi, the biggest player, has repeatedly broken its own trading records during the World Cup.
Looking back at the World Cup: Fans drank Boston dry, got permanent tattoos, sold out famous BBQ joints, and drove up small business revenue
From permanent tattoos and drinking Boston dry, to a bar doing nearly 300% of weekly business in one night, the World Cup is helping small businesses.
Beyond rockets and satellites, SpaceX is quietly building an AI compute business that may become key to its eye-popping valuation
Deals with Google and Anthropic to rent out computing capacity could generate $26 billion a year.
So you want to buy a sports franchise? Why entering sports ownership gives the rich a ‘very elite and exclusive club’ with great tax benefits
Increasingly, the founders and heads of companies like Home Depot, Walmart and LVMH are entering the sports world. There's a good reason for that.
Off Season began with viral NFL jackets. Now Kristin Juszczyk is building a company designed to outlast any one sports season
Her brand, Off Season, is growing beyond football as she builds a fashion business around sports fandom.
‘We shouldn’t be playing the game’: athletes sound off as smoke chokes U.S. sports
Heavy, pungent wildfire smoke darkened skies in the U.S. from the Great Lakes to parts of the East Coast.
Science-based testing powers better health at Plus10 - Cross Timbers Gazette | Southern Denton County | Flower Mound
Flower Mound resident Yves Lafortune has competed in his fair share of Ironman events, 100-mile runs, and national-level triathlons over the years. And if you ask him if he plans to do more, he wouldn’t hesitate to say yes. Clearly, the challenge isn’t finding the passion or commitment to keep going. As a lifelong athlete, […]
How business ownership is once again becoming a family affair
The growing share of businesses being inherited rather than purchased among wealthy Americans reflects the broader great wealth transfer and signals a shift in how wealth and business ownership are changing across generations, Fortune reports. According to Bank of America’s 2026 Private Bank Study of Wealthy Americans, 23% of businesses owned by wealthy individuals are […]
Can a state be ‘best for business’ while restricting abortion?
Business advocates say reproductive rights are a workforce issue, arguing that state rankings fail to capture how abortion restrictions affect employees.
The $124 trillion Great Wealth Transfer is more than just cash: More U.S. businesses are now being inherited than bought, BofA finds
A greater share of companies passed down to family members could be a sign of greater wealth concentration and the power of private markets.
Americans hate AI so much that politicians are starting to lose their jobs over it
Only 26% of Americans view AI positively, and Utah's ouster of Senate leader Stuart Adams over a data center deal suggests the anger is now costing jobs.
Exclusive: Corner Health raises $25 million to turn nurse practitioners into entrepreneurs
Women dominate NP roles—and can double their salaries in 27 states where they're permitted to practice independently.
Columbia Business School professors: What the Balogun red card can teach us about AI and judgment
VAR, or video assistant referee, has a lot to teach us about what "human in the loop" actually means in practice.
Xbox Seems To Be Making A Fortune On The New Black Ops Ports For PS5
They've been spotted trending higher than GTA 6
Other diet fads championed by MAHA are questionable. But some science and thousands of years of human history are behind fermented foods
“What is it that makes the fermented foods so healthy? The answer is we're still working on it.”
Billionaires warned New York would scare off business. Anthropic and Airbnb just made their biggest bets on the city yet
Not only are they expanding their footprint, they’re also doubling headcount. Anthropic said it plans to have more than 1,000 employees by end of year.
‘Sony essentially destroys its own defense’: How its disc-free PS5 plan triggered a $457M lawsuit and undercut its antitrust defense
Sony’s move enraged thousands of gamers and brought on a lawsuit with the backdrop of rival Xbox’s restructuring amid video game industry challenges.
Billionaire MacKenzie Scott just donated $20 million to support America’s youth mental health, as a fifth of teens struggle with suicidal thoughts
MacKenzie Scott, worth $35.8 billion, just donated a record-breaking gift to the U.S. nonprofit Active Minds to support a “new era of mental health.”
750 million fans and 2.7 million data points: How IBM’s AI powers Wimbledon from hidden ‘Court 19’
The tennis tournament has become a proving ground for IBM’s tech and is helping business executives overcome their AI fears.
World First: Scientists Witnessed a Piece of Earth's Oceanic Crust Being Born
"Fortune favors the bold."
Colts Stick With Their Pick in 2024 Re-Draft
The Indianapolis Colts made a good enough first-round pick in the 2024 NFL Draft that they didn't have to change their fortunes in a recent projected re-draft.
Billionaire John Arnold has already donated nearly half his wealth. Now he’s funding a hunt for the health risks of sports betting.
The foundation John Arnold runs with his wife, Laura, is funding 12 university studies on how online sports betting affects users' finances, mental health, and family life.
Explaining The Comcast and NBCUniversal Divorce
(Welcome to the “Most Important Story of the Week”, my bi-weekly strategy column analyzing the most important (but often not buzziest) news story of the last two weeks. I’m the Entertainment Strategy Guy, a former streaming executive who now analyzes business strategy in the entertainment industry. Please subscribe.) I hope everyone had a happy Fourth of July in America, celebrating the country’s 250th birthday. Frankly, I am bummed the 250th wasn’t a bigger celebration, but that’s a different topic for a different Substack. While it was generally a quiet week on the entertainment/streaming/media business fronts, we still had some interesting news stories. Actually, that kinda undersells one of the stories, a huge, huge, huge divestment that could upend the entertainment landscape... So let’s get right to it. In today’s column, I’ll cover Comcast spinning off the rest of NBCUniversal, an entertainment company investing in an LLM company and an LLM-owner investing in a movie studio, the latest round of threats of digital tariffs, and more. Let’s dive in. Subscribe Most Important Story of the Week - Most: Comcast/NBCU Breakup!!!! If I had to describe my reaction to Comcast spinning out NBCUniversal, it feels like a relationship ending, either breaking up or divorcing. Comcast’s decision to spin off the rest of NBCUniversal, after spinning off some of its cable assets into Versant last year, really does feel like a family breaking up under “irreconcilable differences”. Of my stereotypes of the entertainment moguls, my go-to for Comcast CEO Brian Roberts—heir to the Comcast fortune, but a man who’s been at the helm for 24 years now, and president for twelve years before that—is that he likes building empires. He cut his teeth acquiring cable rivals in the 1990s and tried to buy Disney repeatedly, then settled for NBCUniversal after a long court battle. (Contrast this with Rupert Murdoch, a man who also loved to buy, but would also sell when the price is right. Murdoch made Fox out of nothing, but then sold 20th Century Fox to Disney, arguably at the top of the market. So I understood why he sold.) But I don’t understand Roberts’ motivation to sell now. I have some explanations but no single, super-satisfying explanation. Strategically, it would just make more sense to have kept NBCUniversal in-house, especially for a one-time empire builder like Comcast. Yet one powerful force—arguably the decider in modern capitalism—likely overwhelmed all other considerations. At first, I thought I’d arrange my thoughts as a “Five Why” analysis, digging through each layer of the puzzle. But instead, I found myself asking, “But…why?” (And I only ended up with four sections.) So let’s look at Comcast from that angle. Then, at the end, I’ll give my biggest strategic recommendation for every company in Hollywood. It’s obvious, but sometimes, the obvious strategy is the most ignored. But…Why? The Stock Market, Conglomerations, and Sum of the Parts Analysis We’re just getting started with this issue, but the rest is for paid subscribers of the Entertainment Strategy Guy, so if you’d like to find out… Why Comcast could never get a “tech company” valuation The not-so-secret motivation for Comcast What Versant has to do with all of this The key strategic advice I think every entertainment exec should follow (though it’s really obvious) Some big AI investment news… Whether we’ll see digital tariffs… And more… ...please subscribe! We can only keep doing this great work with your support.
‘Marie Antoinette would feel very comfortable’: How U.S. airlines built their business around big spenders
Delta, United and American are pouring billions into first-class lounges, caviar service and lie-flat seats as premium cabins become their most profitable real estate—while economy travelers face rising fares and add-on fees.
Game over for 20% of Xbox staff as Microsoft hits reset: We ‘didn’t focus on the core business,’ CEO says. ‘We simply spread ourselves too thin.’
Everything you need to know before you reach the office this morning.
Trump’s request for a review of Folarin Balogun’s red card has become a global test of FIFA’s political neutrality
The U.S. striker’s red-card ban was suspended after President Trump personally asked FIFA president Gianni Infantino for a review.
‘Our business today is not healthy’: 1,600 Xbox employees among the 4,800 laid off by Microsoft as it looks to ‘reset’ gaming division
A third of Microsoft's global layoffs were Xbox employee as the company reduced its workforce by 2.1% globally.
Video games are a fortune. Blame Trump and AI.
Spiking console prices are a clear sign of inflation—especially for one key voting bloc.
As higher airfares and gas prices make vacations ‘crazy expensive,’ small business owners say Americans are staying closer to home this summer
“This summer, we’re still doing a couple overnights and the lake house, but nothing else.”
Shark Tank’s Kevin O’Leary says if he were 25 today, he’d chase these two booming opportunities in the world of AI
O'Leary says young entrepreneurs shouldn't chase flashy AI, they should instead try to build its backbone.
Mark Zuckerberg takes business calls on a jet ski wearing his $800 Meta glasses—and insists ‘the other person could not tell’
Zuckerberg is convinced smart glasses will replace the smartphone—and he's spending billions to prove it, even as Reality Labs posts a $19.2 billion loss.
The CEO using AI to double revenue with 1,000 fewer hires: ‘Nobody’s going to replace the last mile’
"I was having a conversation this weekend with Claude and it was a pretty in-depth conversation," W.J. Werzyn told Fortune. And then it hallucinated.
Politics is personal for a CT attorney. She’s also a Haitian immigrant now running for Congress
After a years-long journey in search of the American Dream, she eventually received her law degree, bought a home at the age of 30, and is now raising three children with her husband.
America’s entrepreneurial boom begins long before venture capital
Latino-owned businesses added 180,000 net new firms between 2017 and 2023 while white-owned firms declined — and the talent pipeline behind that growth runs through Minority-Serving Institutions now facing funding uncertainty.
Ukrainian drones target more Russian oil infrastructure as fuel crisis adds political pressure on Putin, who shrugs off attacks as ‘not critical’
Ukrainian President Volodymyr Zelenskyy described the attack as part of Ukraine’s “long-range sanctions” against Russia.
The World Cup is just now discovering Middle America’s big heart. These Irish bingo kingpins built a $24 million business knowing it all along
Craig Reynolds and Will Meara launched Bingo Loco in a Dublin basement in 2017. Nine years later, Locomotive sells a million tickets a year in 300 cities.
The sports economy is unaffordable at the bar, let alone the stadium
New data shows fans are going into debt for tickets — and one in five can't even afford to watch out at a sports bar.
Scott Bessent goes after the top Mexican cartel’s new billion-dollar business: gas stations
Treasury sanctioned two men and nine firms tied to a Jalisco cartel fuel-theft ring that reportedly nets tens of millions a year across 21 Mexican states.
Stripe, Visa and over 140 other businesses to launch stablecoin to rival Tether and Circle
Other big-name participants include BlackRock, American Express, and Google.
The John Rogers Contrarian Playbook: How Envista, MSG Entertainment, and Smucker Stack Up for Retirement Investors
John Rogers built his fortune hunting unloved stocks that the market abandoned too soon, but three of his favorite contrarian bets look very different when filtered through the lens of retirement income and low volatility.
Hormel Foods Announces Agreement to Sell Ceratti Business in Brazil
/PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today announced it has entered into a definitive agreement to...
Wendy Schmidt: Three centuries of science is something to celebrate
George Washington Died Not Knowing Dinosaurs Existed. Three Centuries Later, Science Has Never Needed More Defense.
Wendy Schmidt: Three centuries of science is something to celebrate
George Washington Died Not Knowing Dinosaurs Existed. Three Centuries Later, Science Has Never Needed More Defense.
Who slept worst last night: Valtteri Bottas
The Finn had a rough weekend in Austria, battling reliability issues that echoed the fortunes of backmarkers of old
AWS CEO says replacing young employees with AI is ‘one of the dumbest ideas’—and bad for business: ‘At some point the whole thing explodes on itself’
Amazon laid off 14,000 employees this fall, but CEO Andy Jassy denied the reductions were related to AI.
Ex-Google engineer says Larry Page, Sergey Brin and Sundar Pichai share the same trait—it’s the lesson he swears by as a $7.2 billion AI CEO
$7.2 billion AI founder Arvind Jain ‘observed’ Sundar Pichai at Google for years before he became CEO—he learned you need to ‘think crazy’ to be successful
Ex-Google engineer says Larry Page, Sergey Brin and Sundar Pichai share the same trait—it’s the lesson he swears by as a $7.2 billion AI CEO
$7.2 billion AI founder Arvind Jain ‘observed’ Sundar Pichai at Google for years before he became CEO—and learned you need to ‘think crazy’ to be successful
3 million Americans have dropped Obamacare health coverage over past year, after Republicans let federal subsidies expire
KFF expects the total number of people in the government healthcare program to continue to decline throughout the year, potentially to a low of about 17.5 million from 19.2 million now.
His Fortune’s From the Trash Business. His Basquiats Are Priceless.
In the last few years, waste-management billionaire Patrick Dovigi has become one of the biggest art collectors on the scene. But he’s still under the radar—maybe the shots fired on his home have something to do with that.
Morgan Stanley on life after selling your business: a roadmap for entrepreneurs
Selling your company can be the financial win of a lifetime — and one of the most disorienting transitions you'll ever face.
Walmart’s $1.4 billion Vibe.co deal is a direct shot at Amazon’s booming ad business
With a $1.4 billion deal for Vibe.co, Walmart is aiming to capture the ad dollars of smaller brands.
They poured fortunes into trying to join Congress
Of the most expensive self-funded congressional campaigns since 2000, only four out of 20 were successful.
The ‘tech neck’ time bomb: why 43 million young Americans could cripple U.S. health care within a generation
A spine surgeon warns that smartphone addiction is quietly deforming the spines of Gen Z and Gen Alpha.
Business is moving past the tech bro era and learning to value ‘real people, real places’
Also: All the news and watercooler chat from Fortune.
Polymarket allegedly faked trades. Chances are slim Trump admin investigates, says sports-betting attorney
A recent Wall Street Journal investigation found that the prediction market hired influencers to stage fake trades as part of its marketing campaign to attract U.S. users.
United Nations: business can’t build economic resilience from the sidelines
As geopolitical risk rises and the $4 trillion SDG financing gap widens, blended finance will only scale if companies help design systems.
Veteran Middle East CEO says business in the region isn’t retreating—it’s resetting
Also: All the news and watercooler chat from Fortune.
Ezekiel Emanuel: My father lived into his 90s. He understood something many successful men miss
The wellness industry wants you obsessing over biomarkers and supplements. One physician's life offers a simpler—and more effective—blueprint for aging.
Richard Garriott Wants To Take Ultima Back From EA
The eccentric Lord British wants to retake the RPG series that made him a fortune without spending one
‘I literally was crying last night because I’m nervous about what I’m going to find out’: a record 51% of Americans aren’t ‘cost secure’ on health
Half of Americans couldn't reliably afford healthcare, before the Medicaid cuts even started.
A Saints legend is selling fans a piece of professional sports for $500
Marques Colston's Champion Fund opens an owners-only world to anyone with a few hundred bucks. The catch: 5.75% in annual fees.
From $500 to $1tn: How Elon Musk built his fortune
From a video game sold for $500 (€430) as a teenager to a business empire spanning rockets, electric vehicles, AI and brain implants, Elon Musk has spent decades building companies that have reshaped multiple industries. Here's a look at the businesses behind the world's richest man.
Georgia Republicans choose Collins for Senate and Jackson for governor, a mixed result for Trump
Georgia Republicans delivered a split decision for Donald Trump in Tuesday runoffs, opting for the president’s preferred U.S. Senate candidate but rejecting his choice for governor in favor of a billionaire first-time candidate who spent freely from his personal fortune to win the nomination.
He fled Iran for the American dream, became a millionaire, and could have retired—instead, he built the health tech that saved his father from cancer
Health tech millionaire escaped Iran with nothing—now he skips lunch, spends $500 a month on carrot juice, and bought his whole team Rolexes.
Gabe Halimi
Fortune Brands Innovations welcomes Gabe Halimi as its General Manager, Connect Products – Water.
Basketball vs. the Beautiful Game: the fight for America’s summer sports attention
Two mega-events, record ratings, and billions in broadcast rights: the collision that will reshape sports media for a generation.
The management lesson behind FedEx Freight’s break from FedEx
Scale can sometimes become a constraint.
Middle-aged adults taking GLP-1s for obesity can save over $192K on lifetime medical costs, higher if they don’t have college degrees, new study finds
The National Bureau of Economic Research paper's lead author hopes putting a dollar value on the benefits of GLP-1s will lead to better access
Mizuho Raises CVS Health (CVS) Price Target on More Stable Policy Environment
With an annual dividend yield of 2.65%, CVS Health Corporation (NYSE:CVS) is included among the 12 High Yield Fortune 500 Stocks to Buy Now. America’s leading health solutions company, CVS Health Corporation (NYSE:CVS), provides advanced health care from pharmacy services and health plans to health and wellness. On June 8, Mizuho upped its price target on […]
Trump at 80 works to project strength as political woes mount
He is struggling to end an unpopular war with Iran, some fellow Republicans have begun to resist his ideas and polls show his support outside his devoted base is waning.
Jamie Dimon says remote work breeds ‘rope-a-dope politics’ and stunts young workers’ growth
The JPMorgan CEO has a message for remote workers: The customer comes first.
Scientists Recreated Nuclear Fallout in a Lab. Here’s What Happened Next.
Nobody wants a nuclear event, other than those prepper weirdos who secretly need one to justify the small fortune they spent on a fallout shelter.
AI can be a ‘secret sauce’ or a way of ‘democratizing mediocrity’—Here’s how business leaders are getting the best of the technology
AI tools can be the most effective and well-designed in the world, but two people can use the same tool and get to vastly different results.
AI was supposed to cut health care costs. One of its first jobs was charging you more, PwC report shows
AI is one of five potential drivers of health costs climbing up to 9% in 2027, according to PwC.
American taxpayers have spent $33 billion on sports stadiums. They got fewer seats—and higher prices
"No one has ever built a new stadium and made tickets cheaper. No one’s trying to.”
Chevron’s CFO on why finance chiefs are defining AI’s business value
Eimear Bonner, a former CTO, explains how the finance organization is using AI.
Quit job at Fortune 500 company to care for mom, now can't pay bills
Kathy Mullen, 64, left her job at a Fortune 500 company to care for her mother with Alzheimer's, negatively impacting her health and finances.
Fire Emblem: Fortune's Weave's world map is partially inspired by medieval Spain, even if the Dagdan Empire setting looks much older
The next Fire Emblem is mixing Greek and Roman influences with names borrowed from medieval Spain, but the map is completely different.
Health care’s AI dividend is real. The fight now is over who reaps the gains
Also: All the news and watercooler chat from Fortune.
Fire Emblem: Fortune's Weave boxart, screenshots
Following today’s Nintendo Direct, the official boxart has come in for Fire Emblem: Fortune’s Weave. We also have a new set of screenshots. Here’s an overview of the game: The Heroic Games are about to begin! A brand-new entry in the Fire Emblem series is coming to the Nintendo Switch 2 system. Discover an intertwining story of strength and steel...
Nintendo Confirms Fire Emblem: Fortune's Weave Switch 2 Release Date
Nintendo has shown off more of the upcoming Fire Emblem: Fortune's Weave, and finally given the game a release date.
Fire Emblem: Fortune's Weave gets Nintendo Switch 2 release date, Dagdan Collection revealed
After it was announced close to a year ago, Fire Emblem: Fortune’s Weave received its release date on Nintendo Switch 2 today. The game will be available on September 17, 2026. A special edition has also been revealed, pictured above. We originally found out about Fire Emblem: Fortune’s Weave during a Nintendo Direct last September. Nintendo only committed to a...
Meet the Walmart exec who runs a $96 billion business that would sit between Tesla and Target on the Fortune 500
Sam's Club CEO Latriece Watkins runs a $96 billion business within Walmart.
Reward or threat? Omnisend offers quarterly raises for employees who use AI to drive business impact—and says those who don’t will get left behind
For Q1, the first quarter with the initiative in place, just over half of the company’s 246 employees qualified and received raises between 2% and 4% so far.
Corporate America Is No Meritocracy. Just Ask Women
Back in 2008, there were 12 women running Fortune 500 companies. Even though that equaled a measly 2.4%, it was still progress. A decade earlier, that number was 0.4%, or just two women (Jill Barad at Mattel Inc. and Marion Sandler at Golden West Financial Corp.).
Jenn Landis rebuilt Citi’s Wall Street credibility. Her reward: CFO of a $22 billion business
Landis, who spent five years leading investor relations, will become CFO of the Markets business effective early August.
These 9 Missouri businesses made the Fortune 500 list this year
For the eighth year in a row, Centene is the highest ranked Missouri-based business on Fortune's list of the 500 largest American companies. It sits at No. 19 — up four spots from last year's list.
How Howie Mandel turned a panic attack into a mental health movement and helped build a company now worth hundreds of millions
Howie Mandel did a campaign with NOCD, a telehealth app to help spread awareness of OCD. Out of that campaign, Billy Bob Thornton and "celebrity galore" reached out.
Alan S King
Scope of work: King chairs the firm’s national labor and employment practice, advising Fortune 500 companies, municipalities and minority-owned businesses in employment litigation. He also serves as first deputy general counsel and is a certified mediator and arbitrator with the American Arbitration Association.Significant case: He secured victories for employers, including United Airlines and Michigan TV station WZZM, winning summary judgment in discrimination and retaliation claims.Other contributions: King is president of the board of Children First Fund, supporting Chicago Public Schools, and is a producer of the Chosen Few Picnic & Festival.
California falls behind Texas in Fortune 500 ranking
This year, 57 of the top companies are headquartered in Texas, compared with California’s 56. It’s a reversal from two years ago when the Golden State had the pole position.
Melinda French Gates is done waiting for health care to take menopause seriously
Celebrities like Halle Berry and Naomi Watts have jumped on menopause startups. Now Melinda French Gates is throwing her weight behind the category—with philanthropic dollars.
'Every Year After' showrunner has a 5-season plan for the series
'Every Year After' showrunner Amy B. Harris has big plans for Barry's Bay, including a season 2 that will adapt Carley Fortune's 'One Golden Summer.'
After big offensive effort, Giants look to quell Cubs' momentum
The San Francisco Giants have put together some stellar offensive efforts in the past week, while the Chicago Cubs are hoping a dramatic rally will change their recent fortunes.
The Week in Business: MN’s Next Fortune 500 Female CEO?
This week's top stories from Twin Cities Business.
‘The next China is still China’: McKinsey’s Joe Ngai and Nick Leung on why global business can’t write off the Chinese economy
“You can’t find another China. There’s no other China out there now," Greater China chair Joe Ngai says.
California loses Fortune 500 crown to Texas as billionaire tax threat looms
Governor Greg Abbott calls Texas the "undisputed headquarters of headquarters" as the state surpasses California with 57 Fortune 500 companies.
A new AI-powered computer worm could prove to be the stuff of cybersecurity nightmares
University of Toronto researchers built a worm powered by open-weight AI that adapts to its targets. Experts say it changes the math on cybersecurity defense