Founded in 1929 by Edgar Smith, Fortune magazine was established to provide in-depth reporting and analysis on business and economic issues. The idea came during a time of great economic change in the United States, and Smith aimed to create a publication that would inform business leaders and the general public about the forces shaping the economy. Today, Fortune is owned by Fortune Media Group Holdings, which continues to publish the magazine and its online content. Based in New York City, Fortune covers a wide range of topics including business, finance, technology, and leadership. The magazine is well-known for its annual lists, such as the Fortune 500, which ranks the largest U.S. companies by revenue. Fortune provides insights and analysis that are valuable to professionals, investors, and anyone interested in the world of business. One interesting fact: A unique aspect of Fortune is that it was one of the first magazines to introduce the concept of business journalism, focusing not just on news but also on the stories behind the numbers and the people driving the economy. This approach has helped it become a respected source of information in the business community for decades.