wealth

InstitutionalSetting

Theheadquartersof"Fortune"islocatedinthe"Times-LifeBuilding"onSixthAvenueinNewYork.ManyfamousmagazinesofTimeWarnerGrouparelocatedinthisbuilding,suchas"Time"and"Celebrity",whichisalmosta"famousmagazinebuilding"."Fortune"occupiesthe15thand16thfloorsofthebuilding,withtheeditorialdepartmentontheupperfloorandtheoperatingdepartmentonthelowerfloor.

Theentireeditorialdepartmenthas150people,andthereareabout150operatingstaff,whichisquitealotforamagazinethatonlycomesouteveryotherweek.Senioreditorsarealloneperson,oneroom,andtheyallhavewindows.Theiraverageageis45to50yearsold,whichisthewealthofFortune.

Amongthem,themostseniorisMs.CarolLoomis(CarolLoomis),72yearsold,andshewritesallthemajorfinancialarticlesofFortune.Ordinaryreportersandeditorsworkinlargeroomswithoutwindows.

Accordingtohisintroduction,"Fortune"hasacirculationof885,000copies.Itsmaincompetitor,BusinessWeekly,isinthebuildingnextdoor,withaslightlylargercirculation,about1millioncopies.Anotherrival"Forbes"hasaslightlysmallercirculation,about850,000copies.

"BusinessWeekly""isknownforitsnews",and"Fortune"becauseitisabiweeklymagazine,"doesabetterjobinthedepthofreporting.""Fortune"focusesontheUSeconomy.Duetothehighcost,FortunehasonlytworesidentreportersinLondonandanotherreportertoAsia.Inthepast,theAsianreporterstationwaslocatedinTokyo,butitwaslaterchangedtoChina.ThereporterstationedinBeijinghasjustreturned,andthenewlyappointedreporterisgoingtosetupthereporterstationinHongKong.Inaddition,"Fortune"employsmorethan20specialwritersaroundtheworld,andthismoney-savingmethodisverycommoninAmericannewspapers.In"U.S.NewsandWorldReport"magazine,Ihaveseenalistofmorethan100specialcontributorsfromallovertheworld.

ThepersoninchargeofrankingcompaniesiscalledMitchellKakas,wholooksabout50yearsold.Heleadsagroupof5peopleandoccupiesalargesuite.TheyareresponsibleforthevariouscompanyrankingsofFortune,amongwhichtheythinkthemostimportantarefour:thetop500Americancompanies,thetop500globalcompanies,therankingofthemostpopularcompaniesintheUnitedStates,andtherankingofthemostpopularcompaniesintheworld.

AccordingtoKakasandhiscolleagues,theirworkismainlyconcentratedinthefirsthalfoftheyear.Allrankingsaredoneby5people.Everyoneisresponsibleforcertainregionsorcountries.Afterfinishingone,theywilldoitcollectively.another.Thecut-offtimefortheglobaltop500statisticsisthelastdayofJune,anditisoftenatthelastminutetomodifythelatestdataorevenchangetherankingorderofindividualcompanies.Thisworkstartedin1954.Atthattime,itwasverydifficult.Thecomputerwasstillmanual.Inadditiontotheadvancedequipmentandmethods,themoreimportantthingisthataftersomanyyears,ithasbecomefamiliarwiththeroadandhasacompletesystem.Aslongasthecompany’sfinancialEnterthereportform,andtherewillbearoughoutline.

Thecalculationoflistedcompaniesisthemostconvenientandthedataisthemostaccurate.Becausethefinancialstatementsoflistedcompaniesarepublic.However,thebranchesoftheselistedcompaniesoftenincreasethedifficultyofstatistics.Forexample,howmanybranchestheyhave,whatarethesalesofthesebranches,etc.,sometimesitisdifficulttofigureout.Inaddition,therankingcriteriavaryfrommagazinetomagazine,whichisthereasonwhyFortuneandForbesdifferintherankingofcompanies.Forexample,"Forbes"onlycountslistedcompanies,state-ownednon-listedcompaniesdonotcountthem,and"Fortune"alsocountsstate-ownedcompanies;"Forbes"takesthecurrencyofthecountrywherethecompanyislocatedandtheU.S.dollaratthetimeofthestatisticaldeadline.FortuneusestheannualaverageexchangeratebetweenthelocalcurrencyandtheU.S.dollar.Inaddition,thefiscalyeardeadlinesusedbythetwomagazinesaredifferent.

OperationMode

Thepurposeof"Fortune"magazineis"tocreateaguidebookformanagers."

Theoperationof"Fortune"istoimplementauniquecompanystructure.Itconsistsoftwoindependentparallelsequencesthatdonotinterferewitheachother.Intheeditingsystem,thehighestleaderisthechiefeditor;inthemanagementsystem,thehighestleaderisthepresident.Theeditor-in-chiefandthepresidentaresidebysidewithnoaffiliation.Theeditor-in-chiefdoesnotconsideradvertisingormakingmoney,butonlyconsidershowtocreatethebestmagazinethatreaderscantrustaccordingtotheirprinciplesandideas.

Thepresidentisresponsibleformarketingandmakingmoney,buthemustnotexertanyinfluenceontheeditor-in-chieforinterferewiththereport."Fortune"hasrepeatedlysacrificedhugecommercialprofitsinordertoinsistonobjectivereporting,andevenpublishedreportsthatseverelycriticizeditsownheadoffice,butreportersandeditorshavenotbeencondemnedforthis.

ThisuniquecompanystructureensuresthatFortunemagazinecanabidebyprofessionalethicsforalongtime,reportandevaluatepeopleandeventsinthebusinesscommunitytruthfullyandfairly,andestablishauthorityamongbusinessleaders.Ahighdegreeofcredibility.

ThiskindofauthorityandcredibilityhasenabledFortunetohaveawiderangeofinfluenceandappealintheinternationalbusinesscommunity,whichinturnhasbroughtstableprofitstothecompany.InthesecondyearafterIBMwithdrewfromadvertising,Fortune'sadvertisingrevenueincreasedby13.6%overthepreviousyear."Fortune"isknownforitsopenness,fairnessandjusticeinitsevaluationofenterprises,andithasalwaysenjoyedahighdegreeofauthority.

FoundingHistory

The1920sweretheeraofrapideconomicdevelopmentintheUnitedStates.Atthattime,someeconomicnewspapersandperiodicalswerestillstuckonsomeoldconceptsandcouldnotkeepupwiththerequirementsofthedevelopmentofthesituation.

In1929,HenryRuth,withhisamazinginsight,decidedtoopenamonthlymagazinededicatedtothebusinesscommunity,named"Fortune",whichmainlypublishedresearcharticlesoneconomicissues.

InMarch1929,HenryRuth,thefounderofTimemagazine,statedinapublicspeech:Enterpriseislife.Itisanecessaryconditionforartists,priests,philosophers,anddoctors.Becauseenterpriseshaveadecisiveinfluenceonthelifeofartistsorphilosophers,ordinarypeoplemusthavearelationshipwithenterprisesatanytime."Hisremarksrevealedthecorerolethatbusinessplaysinsociallife.

Intheautumnof1929,thefirstissueof"Fortune"magazine184pages,allprintedonheavyweightcoatedpaper,andequippedwithbeautifulItwaspublishedinChicagobeforetheblackOctoberwhenthestockmarketplummeted,anditwaspricedat$1.

In2013,ithasachievedglobalinfluence.ThecorecompetitivenessofFortuneItishighlyauthoritativethatisassociatedwith"capitalistbusinesssuccess"(Russian).Thetwomagazineoperatingbrands"FortuneForum"and"Fortune500"thatarewellknowntobusinessmenaroundtheworldcontinuetomaintainitinthefinancialindustry.Hegemonyinthefield.

TheFortune500listhasbecomeoneofthemostinfluentialcompaniesintheworld,andtheFortuneGlobalForumisregardedasthe“brainstorming”oftheworld’seconomicgiants.",agoodopportunityto"inspirenewthinking".

InNovember2018,thepublishinghouseMeredithinDesMoinesannouncedthatithadagreedtosellFortunemagazinetoFortuneMediaGroupHoldingsLimitedforUS$150million.Thecompany.ThecompanyiswhollycontrolledbyThaiChinesebusinessmanChatchavalJiaravanon.

HostPerson

OnApril3,1898,RuthwasborninPenglai,Shandong,China,aUnitedStatesAChristianmissionaryfamily.HestudiedinYantai,Shandong,Chinawhenhewasyoung.HegraduatedfromYaleUniversityin1920.HeservedasareporterforChicagoDailyNewsandBaltimoreNewspaperfrom1921to1922.

UnitedStatesin1923LuceandHardenco-founded"Time"inNewYork.LucewasthepublisherandHardenwastheeditor-in-chief."Time"wasthefirstAmericannarrativetoreportcurrentaffairs,breakingthemonopolyofnewspapersandradioonnews.Sexualjournal.ItisnowpartoftheTimeCompanyundertheTimeWarnerGroup.

In1929,HenryRuthdecidedtopublish"Fortune"aftertwoyearsofinvestigationandresearch.Sucha"extremelyluxuriousappearance"Theillustrationsareextremelyprecious,andthearticlehasamagazinethatissuitableforitsbusinesstogainitsduestatusinthepublicmind.

In1929,afterHarden’sdeathin1929,Ruthbecametheeditor-in-chiefofFortune.Publishedtheforeigneditionof"Time"Weekly.Afterthat,with"Time"asthecore,famousjournalssuchas"Happiness"and"Life"weresuccessivelypublished,formingthelargestpublishingtrustcompanyintheUnitedStates-TimePublishingCompany.Ruthservedasthecompany'svariousJournaleditor-in-chief.

Inthe1960s,thecompany'spublishingscopeexpandedtobooksandotherpublications,andestablishedsubsidiariesindozensofcountries.

In1964,Ruthretiredandchangedhisposition.ChairmanoftheeditorialboardofTimesPublishingCompany.Heisgoodatrhetoricandispoliticallyconservative.Duringhislifetime,hehasanimportantinfluenceontheRepublicanPartyandtheU.S.government’sChinapolicyandisoneofthemostpowerfulfiguresintheU.S.publishingindustry.

OnFebruary28,1967,Luce,thefounderofTimemagazine,diedinPhoenix,Arizona.

Rusisgoodatusinghistoricaldataandcollectingreal-lifematerials,makingthearticlespublishedin"Times"morereadablethannewspapersandradio.Harden'suniquewritingstyleandlivelylayoutalsohelpedTimetoquicklybecomeoneofthemostpopularandinfluentialjournals.

Mainrankings

Enterpriserankings

Top500rankings

In1954,FortuneMagazine,USAThelistoftheworld's500largestcompaniesbegantobelaunchedwithrigorousevaluation,thatis,the"Fortune500list"hashadahugeimpactsincethen,sothatithassurpassedthecountry,nation,andculturetobecomeastandardoftheglobaleconomy.Sofar,intermsofinfluence,nomedia"rankinglist"canmatchit.Thisrankinghasbecomeanimportantindicatorusedbyworld-renownedcompaniestojudgetheirownstrength,scaleandinternationalcompetitiveness,anditisalsoanauthoritativebarometerofthestateoftheworldeconomy.Beinglistedintheworld'stop500isnotonlyagreathonorforthecompany,butalsomeansthatthecompany'sintangibleassetshaveincreasedbyhundredsofmillionsovernight.BankofChinaenteredthewealthrankingforthefirsttimein1992.

"Fortune"magazineuseditsinfluencetoorganizeaseriesoffinancialforums,suchas"Fortune500Forum(CEO)"and"FortuneChiefFinancialOfficerForum"."Fortune"magazinebegantohosttheFortuneGlobal500annualmeetingin1995,the"Fortune"GlobalForum.Itselectsanattractive"hot"locationintheworldonceayearandinvitesthechairman,president,andpresidentofglobalmultinationalcompanies.TheCEOandworld-renownedpoliticiansandscholarsparticipatedtodiscussmajorissuesrelatedtotheoveralldevelopmentoftheworldeconomy.Thetwomagazineoperatingbrands"FortuneForum"and"Fortune500",whicharewell-knowntopeoplearoundtheworld,continuetomaintaintheirhegemonyinthefinancialfield.The"Fortune"magazine’sannualTop500rankingshavebecomeoneofthemostinfluentialcompaniesintheworld,whilethe"FortuneGlobalForum"isregardedastheworld’seconomicgiants"brainstorming"and"inspiringnewthinking".Goodopportunity.Theoperationofthemagazineitselfstillmakespeopleunabletoseethatithasanyoldstate.Eveninthefaceoftheneweconomicmagazinesthataredeterminedtochangeeverythinginthepastfewyears,Fortunestillmaintainsitspreciousfreshness.In2013,thenewFortuneGlobalForumwasheldinChengdu,SichuanProvince.

2011ChinaTop500

OnJuly13,2011,the2011ChinaTop500Enterpriseswasannounced.Comparedwiththepreviousyear,theshortlistedoperatingincomethresholdhasincreasedby1.2billionyuan.Amongthem,ChinaPetroleum&ChemicalCorporationrankedfirst,andChinaMobilerankedthird.Itisalsotheonlytechnologycompanyinthetopten.TheothertwobasictelecomoperatorsChinaTelecomandChinaUnicomranked14thand19threspectively.

Amongthetop100companies,thereareatotaloffivetelecommunicationscompanies.TheyareChinaMobileranked3rd,ChinaTelecomranked14th,ChinaUnicomranked19th,ZTEranked47th,andChinaCommunicationsServicesCorporation.Ranked79th.

Inaddition,threetelecommunicationscompanies,TianyinCommunicationHoldings,TCLCommunication,andFiberhomeCommunication,haveenteredthetop500list.

Amongthe40mostprofitablecompanies,ChinaMobilerankedfourthwithanetprofitof119.6billion,andChinaTelecomranked17thwithanetprofitof15.7billion.Therearenotelecommunicationscompaniesamongthe40companieswiththehighestprofitmarginsandloss-makingcompanies.

Itisreportedthatin2011,thetotalrevenueofChina'stop500reached18.9trillion,anincreaseof38%overthepreviousyear,accountingfor47%ofChina’sGDP;totalprofitreached1.9trillion,anincreaseoverthepreviousyearThat’s47%.Althoughtheincreaseinnetprofithasdroppedalotfromthe115%increasein2010,thisgrowthrateisstillveryhigh,andthehighgrowthin2010isbasedonthesharpdeclineinprofitsin2008.Forty-fivecompaniesenteredtherankingsforthefirsttime,andonly9ofalllistedcompaniessufferedlosses.

2011CompanyNameRevenueNetProfitIndustryRanking(Chinese)

5peoplewhomayinfluenceChina’sbusinessprocessinthenext15yearsb>

1.YangYuanqing,chairmanandCEOofLenovoGroup,47yearsold

2.LiShufu,chairmanofGeelyGroup,48yearsold

3.ChenDongshengTaikangLifeInsuranceCo.,Ltd.ChairmanandCEOoftheCo.,Ltd.,54yearsold

4.LiuQiang,ChairmanandCEOofTokyoEastMall,37yearsold

5.ChengJing,PresidentandTechnologyofBeijingBoaoBiologicalCo.,Ltd.Director48yearsold

CharacterRanking

2012

Fortune's2012businessfigureslistwasofficiallyannounced,twoChineseEntrepreneursareonthelist:GuoTaimingofHonHaiPrecisionandFuChengyu,ChairmanofSinopec.AmazonCEOJeffBezostoppedthelistwiththecouragetotakerisksandtheperformanceofdisruptingtheindustry.

Thisyear,the"Fortune"annualbusinessfigureslistwitnessedthecomebackandtopperformanceofcorporateexecutives.Intheretailindustry,HomeDepot(HomeDepot)CEOFrankBlakeandGapCEOGlennMurphyhavebothsuccessfullyfulfilledtheirpromisetoturnaroundlosses.AndBrianRobertsandSteveBurkepromotedthesuccessfulcooperationbetweenComcastandNBCUniversal,demonstratingtheirstrategicwisdom.Apple'sTimCookandTJXCos.'sCarolMerowitzcontinuetoleadtheircompanyforward.Amazon(Amazon)CEOJeffBezosalsosetabrilliantperformanceagain,drivingthecompany'srevenuetogrow31%year-on-yearinthepastyear.However,Bezoswonthetopspotonourlistbecauseofhisobsessiveobsessionwithtakingrisksanddisruptingindustries.

1.JeffBezos,AmazonfounderandCEO

2.TimCook,AppleCEO

3.BrianRoberts,CEOofComcast;SteveBurke,CEOofNBCUniversal

4.JohnDonahoe,CEOofeBay

5.KwonWu-hyun,CEOofSamsung

6.LarryPage,co-founderandCEOofGoogleInc.

7.CarlosBrieTor,CEOofAnheuser-BuschInBev

8.AjayBanga,CEOofMasterCard

9.RexTillerson,ExxonMobilChairmanandCEOofthecompany

10.BillMcNab,ChairmanandCEOofVanguardFunds

2013

"Fortune"2013"BusinessPeopleinBusinessRanking"istheannualevaluationmadeby"Fortune"magazineonglobalbusinessleaders.Inrankingthelist,"Fortune"weighedalargenumberoffactors,includingprofitandrevenuegrowth,corporatestockpriceperformanceandmarketvalueandotherfinancialperformanceoccupiesaprominentposition.Inaddition,thestrategicmind,theabilitytocalmlymanagelargeorganizations,risk-takingandculturalsignificancearealsofactorsconsideredinthislist.

"Fortune"commentedthatMusk’sSpaceXisexpectedtodisrupttheaviationindustry,TeslaMotorshasshakentheautomotiveindustry,andSolarCityhaschangedtheenergyindustry.

In2013,therewerefourChineseentrepreneursonthelist.TheotherthreeChineseentrepreneursonthelistare:BaiduCEORobinLi(24th),DalianWandaGroupChairmanWangJianlin(34th)),SOHOChinaCEOZhangXin(No.46).

Inaddition,Google(Weibo)CEOLarryPage(No.8),YahooCEOMarissaMayer(No.10),TwitterExecutiveChairmanJackDorsey(No.8)14),AppleCEOCook(47th)andothertechnologycompanyexecutivesarealsoonthelist.

1,ElonMusk,founderofTesla,SpaceX,SolarCity

2,activistinvestors,includingCarlIcahn,JeffreyUben,WeiEinhorn,DanielLoeb,etc.

3,MaHuateng,co-founderandCEOofTencent

4,AngelaAhrendts,CEOofBurberry

3.p>

5,ReedHastingsandJeffBewkes,CEOsofNetflixandTimeWarner,respectively

6,Bezos,founderandCEOofAmazon

7,AkioToyoda,ToyotaMotorCEO

8,LarryPage,GoogleCo-founderandCEO

9,WarrenBuffett,BerkshireHathawayChairmanandCEO

10,MarissaMayer,YahooCEO

11,RichardAnderson,DeltaAirLinesCEO

12,MarkZaKerberg,founderandCEOofFacebook

13,MarkParker,CEOofNike

14,JackDorsey,chairmanofTwitter,CEOofSquare

15,AjayBanga,MasterCardCEO

16,HowardSchultz,StarbucksChairmanandCEO

17,CarolMeyrowitz,TJXCEO

18,JohnMartin,ChairmanandCEOofGileadTechnology

19,SunZhengyi,ChairmanandCEOofSoftBank

20,YanaiMasa/AmancioOrtega,respectivelyCEO,InditexCo-founder

21,JeffSprecher,IntercontinentalExchangeCEO

22,AviReichental,3DSystemsCEO

23,HarrietGreen,CEOofThomasCookGroup

24.RobinLi,co-founderandCEOofBaidu

25,JimKoch,founderandchairmanofBostonBeerCompany

26.MoriKazuki,PresidentofGungHo

27,MarcBenioff,SalesforceCEO

28,StephenCarley,RedRobinCEO

29,JeremyStoppelman,Co-founderandCEOofYelp

30,CarolynMccall,CEOofEasyJet

31.JamesHughes,CEOofSolarEnergyCorporation

32.ThomasMcGinnani,CEOofGainworthFinancialCorporation

33.DickCostello,CEOofTwitterInc.

34.WangJianlin,ChairmanofDalianWandaGroup

35.AlanMulally,CEOofFordMotorCompany

36.MikeCooper,CEOofCitibank

37.DaveDuffel;AnilBusri,co-founderandco-CEOofindependentsoftwarecompanyWorkday

38.RichardFairbank,FounderandCEOofCapitalOneFinancialCorporation

39.RobertBradwin,ChairmanandCEOofAmgenCorporation

40.TravisKalanick,founderandCEOofUber,ataxi-hailingcompany

41.CarlosSlim,CalsoGroup,ChairmanofSABTelecom,Mexico

42.JamesGorman,ChairmanandCEOofMorganStanleyCorporation

43.KeAilun,ChairmanandCEOofDuPont,USA

44.Co-founderandmainpartnerofMarkAndersonVentureCapitalAndersonHorowitzFund

45.KennethChennault,ChairmanandCEOofAmericanExpressCorporation

46.ZhangXin,SOHOChinaCo-CEO

47.TimCook,CEOofAppleInc.

48.SeverinSchwan,CEOofRoche,Switzerland

49.PatrickDoyle,CEOofDomino’sCorporation

50.JamieDimon,ChairmanandCEOofJPMorganChase&Co.

MagazineEdition

Thepublisherof"Fortune"(Chineseversion),ChinaConsultingCo.,Ltd.ItwasfoundedinHongKongin1975withtheemergenceofdemandforWesternindustrialandcommercialandtechnicalinformation.

"Fortune"(Chineseversion)(FORTUNEChina)istheonlymagazineinChinathathasbeenauthorizedbyTimestousethename"Fortune".Thetrademarks"FORTUNEChina"and"Fortune"belongtoTimeInc.TimeCorporationisapublishingorganizationundertheumbrellaofTimeWarner,theworld'slargestmediaandentertainmentgroup.

BeforeChinaannounceditsopening-uppolicyin1979,HongKongChinaConsultingCo.,Ltd.hadbecomeaprofessionalpublishingcompanythatpublishedbusinessmagazinesfortheChinesemarket.HeadquarteredinHongKong,withbranchofficesinBeijingandShanghai.Mr.Gorman(ThomasD.Gorman)servedastheformerchairmanoftheAmericanChamberofCommerceinHongKong.

SocialEvaluation

InthehistoricalliteratureofTimeCompany,thereisthedefinitionof"Fortune"magazineatthattime:

1.ThispublicationwillbethecurrentUSThemostexquisitepublicationinthepublication;

2.Itisauthoritativefrombeginningtoend;

3.Itwillbewritteninthemostfascinatingwords,completelybasedonfacts,Toreportonthetopicsofconcerntothebusinessworldinasimpleandsimpleway;

4.Itwillexplorethepositionofbusinessethicsinaskillfulway.

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