Finance
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America added more than 1,200 millionaires per day in 2025, but the heyday of the ‘everyday millionaire’ is already over
The “everyday millionaire” has a problem. It’s not money. It’s math. In 2025, UBS coined the term EMILLI — Everyday MILLIonaire — to describe the 401(k) maximizer, the dual-income homeowner, the diligent index-fund investor who looked up one day and realized the number on their brokerage statement had crossed seven figures. It became shorthand for…
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Premier League Lacrosse adds Rob Mac, Glen Powell to investors group in historic $100 million funding round
The Premier Lacrosse League is adding actors Rob Mac and Glen Powell among the investors of a $100 million financing round that represents the largest capital raise in the history of professional lacrosse. The financing round, led by Ares funds and New York Liberty owner Joe Tsai, also included a minority equity investment from ESPN.…
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Current price of oil as of June 30 2026
As of 9 a.m. Eastern Time today, oil is trading at $75.02 per barrel, based on the Brent benchmark we’ll explain in a bit. That’s $1.02 above yesterday morning’s level and about $7.24 higher than where it stood a year ago. Oil price per barrel % Change Price of oil yesterday $74 +1.37% Price of…
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What the world learned from the American century: The global wealth pyramid turns into a fat diamond spinning top
Henry Luce, who founded Fortune in 1929 and its sister publication Life seven years later, used the pages of the latter in February 1941 to issue one of the most consequential editorial arguments in American journalism. He called it “The American Century.” The promise of a “more abundant life,” Luce wrote, of “adequate production for…
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Trump takes his inflation battle to gas retailers after his plot against the Fed runs aground—sets target for $2.50 a gallon
President Trump is searching for a new target in his battle against the affordability crisis, and it seems he’s found one in gasoline retailers. The price of gas increased 40.5% on a 12-month basis ending May 2026, with fuel oil also moving up 58.9%, according to the Bureau of Labor Statistics (BLS). The increases came…
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The central bank of central banks just released its flagship annual report — and it sees a $1 trillion AI investment boom headed for a reckoning
The canal mania of the 1830s. The British railway bubble of the 1840s. The dot-com crash of 2000. Each began with a genuine technological breakthrough that attracted more capital than commercial returns could ultimately justify. Each ended in a recession. The Bank for International Settlements — the Basel-based institution that coordinates the world’s central banks…
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The Supreme Court upholds Fed independence by saving Lisa Cook’s job—and also saves U.S. debt from a crisis
The Federal Reserve retains a special status in the government that shields it from interference by the White House, the Supreme Court said in a decision that has critical implications for the bond market. Justices ruled 5-4 on Monday President Donald Trump was wrong to try ousting Fed Governor Lisa Cook last August because she…
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Strategy may sell up to $1.25 billion in Bitcoin to calm investor jitters
Strategy is shifting strategies as the Bitcoin behemoth seeks to quell fears over its financial health. On Monday, the company announced that it may sell up to $1.25 billion in Bitcoin to build its cash reserves, cover investor payouts, and fund stock buybacks to avoid issuing more equity. The new policy is an about-face for…
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Current price of oil as of June 29, 2026
As of 8:50 a.m. Eastern Time today, oil sold for $74 per barrel (using Brent as the benchmark, which we’ll get into momentarily). That’s 15 cents lower than yesterday morning and approximately a $6.67 rise over the past year. Oil price per barrel % Change Price of oil yesterday $74.15 -0.20% Price of oil 1…
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Harvard’s housing report has a darker message than affordability—the middle-class home was always a historical accident
A new Harvard study documents a housing market in crisis. But its real argument is more unsettling: the era when an ordinary American could expect to own a home may have been the exception—not the rule. For half a century, Harvard has been writing versions of the same warning. In 1977, researchers at what was…