CINXE.COM

<!DOCTYPE html><html lang="en"><head><meta charSet="utf-8"/><meta name="viewport" content="width=device-width"/><title>Bloomberg | Fortune</title><meta name="msapplication-TileColor" content="#ffc40d"/><meta name="theme-color" content="#FFFFFF"/><meta name="description" content=""/><meta name="keywords" content=""/><meta property="og:url" content="https://fortune.com/author/bloomberg/"/><meta property="og:type" content="article"/><meta property="og:title" content="Bloomberg"/><meta property="og:description" content=""/><meta property="og:site_name" content="Fortune"/><meta property="og:image" content=""/><meta property="og:width" content="1024"/><meta property="og:height" content="683"/><meta name="twitter:card" content="summary_large_image"/><meta name="twitter:title" content="Bloomberg"/><meta name="twitter:description" content=""/><meta name="twitter:image" content=""/><meta name="twitter:url" content="https://fortune.com/author/bloomberg/"/><meta property="fb:pages" content="56501027948"/><meta name="robots" content=""/><link rel="preconnect" href="https://www.google-analytics.com" crossorigin=""/><link rel="preconnect" href="https://www.googletagservices.com" crossorigin=""/><link rel="preconnect" href="https://ad.doubleclick.net" crossorigin=""/><link rel="preconnect" href="https://static.doubleclick.net" crossorigin=""/><link rel="preconnect" href="https://securepubads.g.doubleclick.net" crossorigin=""/><link rel="icon" href="/icons/favicons/favicon.ico"/><link rel="canonical" href="https://fortune.com/author/bloomberg/"/><script id="json-schema" type="application/ld+json">{"@type":"ProfilePage","@context":["https://schema.org"],"publisher":{"@type":"NewsMediaOrganization","address":{"@type":"PostalAddress","addressCountry":{"@type":"Country","name":"US"},"addressLocality":"New York","addressRegion":"NY","postalCode":"10038","streetAddress":"40 Fulton Street"},"brand":{"@type":"Brand","name":"Fortune"},"founder":{"@type":"Person","name":"Henry Robinson Luce"},"foundingDate":"1929-02","legalName":"Fortune Media (USA) Corporation","logo":{"@type":"ImageObject","url":"https://fortune.com/static/media/logo.png"},"name":"Fortune","publishingPrinciples":"https://fortune.com/about-us/","sameAs":["https://en.wikipedia.org/wiki/Fortune_(magazine)","https://www.facebook.com/FortuneMagazine/","https://www.linkedin.com/company/fortune-magazine/","https://www.instagram.com/fortunemag/","https://www.pinterest.com/fortunemagazine/","https://twitter.com/FortuneMagazine/"],"url":"https://fortune.com/"},"@id":"https://fortune.com/author/bloomberg/","mainEntity":{"@type":"Person","name":"Bloomberg","url":"https://fortune.com/author/bloomberg/"}}</script><script>window.dataLayer = window.dataLayer || []</script><link rel="preconnect" href="https://dev.visualwebsiteoptimizer.com"/><link rel="dns-prefetch" href="https://c.amazon-adsystem.com"/><link rel="preconnect" href="https://c.amazon-adsystem.com" crossorigin=""/><script async="" src="https://c.amazon-adsystem.com/aax2/apstag.js"></script><meta name="next-head-count" content="35"/><link rel="preload" href="/_next/static/media/a63f776f9c0a0ec4-s.p.woff2" as="font" type="font/woff2" crossorigin="anonymous" data-next-font="size-adjust"/><link rel="preload" href="/_next/static/media/53119eeb5d808e5d-s.p.woff2" as="font" type="font/woff2" crossorigin="anonymous" data-next-font="size-adjust"/><link rel="preload" href="/_next/static/media/f349898cee58fa09-s.p.woff2" as="font" type="font/woff2" crossorigin="anonymous" data-next-font="size-adjust"/><link rel="preload" href="/_next/static/media/b0f60f2bca7964f3-s.p.woff2" as="font" type="font/woff2" crossorigin="anonymous" data-next-font="size-adjust"/><link rel="preload" href="/_next/static/media/3de697d86e4445fe-s.p.woff2" as="font" type="font/woff2" crossorigin="anonymous" data-next-font="size-adjust"/><link rel="preload" href="/_next/static/media/c8771b905e084254-s.p.woff2" as="font" type="font/woff2" crossorigin="anonymous" data-next-font="size-adjust"/><link rel="preload" href="/_next/static/media/3a9e61bb4610dfff-s.p.woff2" as="font" type="font/woff2" crossorigin="anonymous" data-next-font="size-adjust"/><link rel="preload" href="/_next/static/media/ca1c7ba84c002e81-s.p.woff2" as="font" type="font/woff2" crossorigin="anonymous" data-next-font="size-adjust"/><link rel="preload" href="/_next/static/media/dfa93b9e43b68220-s.p.woff2" as="font" type="font/woff2" crossorigin="anonymous" data-next-font="size-adjust"/><link rel="preload" href="/_next/static/media/1b1fe1d93189867c-s.p.woff2" as="font" type="font/woff2" crossorigin="anonymous" data-next-font="size-adjust"/><script id="vwoCode" async="" data-nscript="beforeInteractive">window._vwo_code || (function () { var account_id = 889363, version = 2.1, settings_tolerance = 2000, hide_element = '', hide_element_style = 'opacity:0 !important;filter:alpha(opacity=0) !important;background:none !important;transition:none !important;', /* DO NOT EDIT BELOW THIS LINE */ f = false, w = window, d = document, v = d.querySelector('#vwoCode'), cK = '_vwo_' + account_id + '_settings', cc = {}; try { var c = JSON.parse(localStorage.getItem('_vwo_' + account_id + '_config')); cc = c && typeof c === 'object' ? c : {} } catch (e) { } var stT = cc.stT === 'session' ? w.sessionStorage : w.localStorage; code = { nonce: v && v.nonce, use_existing_jquery: function () { return typeof use_existing_jquery !== 'undefined' ? use_existing_jquery : undefined }, library_tolerance: function () { return typeof library_tolerance !== 'undefined' ? library_tolerance : undefined }, settings_tolerance: function () { return cc.sT || settings_tolerance }, hide_element_style: function () { return '{' + (cc.hES || hide_element_style) + '}' }, hide_element: function () { if (performance.getEntriesByName('first-contentful-paint')[0]) { return '' } return typeof cc.hE === 'string' ? cc.hE : hide_element }, getVersion: function () { return version }, finish: function (e) { if (!f) { f = true; var t = d.getElementById('_vis_opt_path_hides'); if (t) t.parentNode.removeChild(t); if (e) (new Image).src = 'https://dev.visualwebsiteoptimizer.com/ee.gif?a=' + account_id + e } }, finished: function () { return f }, addScript: function (e) { var t = d.createElement('script'); t.type = 'text/javascript'; if (e.src) { t.src = e.src } else { t.text = e.text } v && t.setAttribute('nonce', v.nonce); d.getElementsByTagName('head')[0].appendChild(t) }, load: function (e, t) { var n = this.getSettings(), i = d.createElement('script'), r = this; t = t || {}; if (n) { i.textContent = n; d.getElementsByTagName('head')[0].appendChild(i); if (!w.VWO || VWO.caE) { stT.removeItem(cK); r.load(e) } } else { var o = new XMLHttpRequest; o.open('GET', e, true); o.withCredentials = !t.dSC; o.responseType = t.responseType || 'text'; o.onload = function () { if (t.onloadCb) { return t.onloadCb(o, e) } if (o.status === 200 || o.status === 304) { _vwo_code.addScript({ text: o.responseText }) } else { _vwo_code.finish('&e=loading_failure:' + e) } }; o.onerror = function () { if (t.onerrorCb) { return t.onerrorCb(e) } _vwo_code.finish('&e=loading_failure:' + e) }; o.send() } }, getSettings: function () { try { var e = stT.getItem(cK); if (!e) { return } e = JSON.parse(e); if (Date.now() > e.e) { stT.removeItem(cK); return } return e.s } catch (e) { return } }, init: function () { if (d.URL.indexOf('__vwo_disable__') > -1) return; var e = this.settings_tolerance(); w._vwo_settings_timer = setTimeout(function () { _vwo_code.finish(); stT.removeItem(cK) }, e); var t; if (this.hide_element() !== 'body') { t = d.createElement('style'); var n = this.hide_element(), i = n ? n + this.hide_element_style() : '', r = d.getElementsByTagName('head')[0]; t.setAttribute('id', '_vis_opt_path_hides'); v && t.setAttribute('nonce', v.nonce); t.setAttribute('type', 'text/css'); if (t.styleSheet) t.styleSheet.cssText = i; else t.appendChild(d.createTextNode(i)); r.appendChild(t) } else { t = d.getElementsByTagName('head')[0]; var i = d.createElement('div'); i.style.cssText = 'z-index: 2147483647 !important;position: fixed !important;left: 0 !important;top: 0 !important;width: 100% !important;height: 100% !important;background: white !important;display: block !important;'; i.setAttribute('id', '_vis_opt_path_hides'); i.classList.add('_vis_hide_layer'); t.parentNode.insertBefore(i, t.nextSibling) } var o = window._vis_opt_url || d.URL, s = 'https://dev.visualwebsiteoptimizer.com/j.php?a=' + account_id + '&u=' + encodeURIComponent(o) + '&vn=' + version; if (w.location.search.indexOf('_vwo_xhr') !== -1) { this.addScript({ src: s }) } else { this.load(s + '&x=true') } } }; w._vwo_code = code; code.init(); })(); </script><link rel="preload" href="/_next/static/css/0a172b79161e2285.css" as="style"/><link rel="stylesheet" href="/_next/static/css/0a172b79161e2285.css" data-n-g=""/><noscript data-n-css=""></noscript><script defer="" nomodule="" src="/_next/static/chunks/polyfills-c67a75d1b6f99dc8.js"></script><script defer="" src="/_next/static/chunks/6334.7d6a7489e4835282.js"></script><script src="/_next/static/chunks/webpack-729d9be93e5fb736.js" defer=""></script><script src="/_next/static/chunks/framework-295dec0b014b6772.js" defer=""></script><script src="/_next/static/chunks/main-e82d932976fcf5cd.js" defer=""></script><script src="/_next/static/chunks/pages/_app-39ce9ee1e5db187a.js" defer=""></script><script src="/_next/static/chunks/pages/author/%5Bname%5D-dd4303cb89b35bae.js" defer=""></script><script src="/_next/static/d22uXhbrdgaeuww0264GL/_buildManifest.js" defer=""></script><script src="/_next/static/d22uXhbrdgaeuww0264GL/_ssgManifest.js" defer=""></script><style data-styled="" data-styled-version="6.1.15">.jylYni{display:-webkit-inline-box;display:-webkit-inline-flex;display:-ms-inline-flexbox;display:inline-flex;gap:4px;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;-webkit-box-pack:center;-ms-flex-pack:center;-webkit-justify-content:center;justify-content:center;font-family:var(--graphik-cond),Graphik Cond,Arial Narrow,Helvetica neue Condensed,sans-serif;font-weight:600;text-align:center;line-height:150%;letter-spacing:0.5px;box-sizing:border-box;color:#111111;background-color:transparent;border:1px solid transparent;line-height:120%;position:relative;font-size:16px;text-transform:none;}/*!sc*/ .jylYni::after{border-style:solid;border-color:inherit;border-width:0 1.5px 1.5px 0;display:inline-block;padding:3px;width:9px;height:9px;content:'';-webkit-transform:rotate(-45deg);-moz-transform:rotate(-45deg);-ms-transform:rotate(-45deg);transform:rotate(-45deg);-webkit-transform:rotate(-45deg);margin-bottom:1px;margin-right:2px;margin-top:3px;width:9px;height:9px;}/*!sc*/ .jylYni:hover,.jylYni:focus{color:#007B9D;-webkit-text-decoration:underline;text-decoration:underline;}/*!sc*/ .jylYni:hover::after,.jylYni:focus::after,.jylYni:hover::before,.jylYni:focus::before{border-color:#007B9D;}/*!sc*/ .jylYni:focus{border:1px solid #007B9D;box-shadow:none;outline:none;}/*!sc*/ .jylYni:active{box-shadow:none;border:1px solid transparent;color:#666666;outline:none;}/*!sc*/ .jylYni:active::after,.jylYni:active::before{border-color:#666666;}/*!sc*/ .jylYni::after,.jylYni::before{border-color:#111111;}/*!sc*/ .jylYni:disabled{color:#666666;box-shadow:none;border:1px solid transparent;cursor:not-allowed;}/*!sc*/ .jylYni:disabled:hover,.jylYni:disabled:focus,.jylYni:disabled:active{color:#666666;border:1px solid transparent;box-shadow:none;-webkit-text-decoration:none;text-decoration:none;outline:none;}/*!sc*/ .jylYni:disabled:hover::after,.jylYni:disabled:focus::after,.jylYni:disabled:active::after{border-color:#666666;}/*!sc*/ .jylYni:disabled::after{border-color:#666666;}/*!sc*/ .jylYni::after{display:none;}/*!sc*/ .jylYni:hover::after,.jylYni:focus::after,.jylYni:active::after{display:none;}/*!sc*/ data-styled.g1[id="sc-d9a6b3c5-0"]{content:"jylYni,"}/*!sc*/ .kspHIT{cursor:pointer;-webkit-text-decoration:none;text-decoration:none;font-family:inherit;color:#111111;}/*!sc*/ .kspHIT.link{background-color:transparent;border:0;}/*!sc*/ .kspHIT:hover,.kspHIT:hover>*:not(.no-hover),.kspHIT:focus,.kspHIT:focus>*:not(.no-focus){color:#007B9D;-webkit-text-decoration:none;text-decoration:none;}/*!sc*/ .kspHIT:active,.kspHIT:active>*:not(.no-active){color:#666666;}/*!sc*/ .dlLwcj{cursor:pointer;-webkit-text-decoration:none;text-decoration:none;font-family:inherit;color:#111111;font-family:var(--graphik-cond),Graphik Cond,Arial Narrow,Helvetica neue Condensed,sans-serif;text-transform:uppercase;letter-spacing:0.5px;}/*!sc*/ .dlLwcj.link{background-color:transparent;border:0;}/*!sc*/ data-styled.g2[id="sc-19cc8fd2-0"]{content:"kspHIT,dlLwcj,"}/*!sc*/ .iknoDJ{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-box-pack:center;-ms-flex-pack:center;-webkit-justify-content:center;justify-content:center;margin-bottom:24px;-webkit-order:1;-ms-flex-order:1;order:1;}/*!sc*/ .iknoDJ >ul{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;}/*!sc*/ @media (min-width: 48rem){.iknoDJ >ul{-webkit-align-items:start;-webkit-box-align:start;-ms-flex-align:start;align-items:start;}}/*!sc*/ @media (min-width: 90rem){.iknoDJ{-webkit-order:2;-ms-flex-order:2;order:2;margin-left:8px;}}/*!sc*/ data-styled.g3[id="sc-939609ec-0"]{content:"iknoDJ,"}/*!sc*/ .esXRgm{-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;}/*!sc*/ .esXRgm a{-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;height:32px;-webkit-box-pack:center;-ms-flex-pack:center;-webkit-justify-content:center;justify-content:center;width:32px;border:1px solid #111111;border-radius:50%;margin-right:4px;}/*!sc*/ .esXRgm a svg{width:12px;fill:#111111;}/*!sc*/ .esXRgm a:hover{border-color:#007B9D;}/*!sc*/ .esXRgm a:hover svg{fill:#007B9D;}/*!sc*/ .esXRgm a:active,.esXRgm a:focus{border-color:#666666;}/*!sc*/ .esXRgm a:active svg,.esXRgm a:focus svg{fill:#666666;}/*!sc*/ data-styled.g4[id="sc-939609ec-1"]{content:"esXRgm,"}/*!sc*/ .VSjGq{border-top:1px solid #D1D1D6;font-family:var(--graphik-cond),Graphik Cond,Arial Narrow,Helvetica neue Condensed,sans-serif;font-size:12px;letter-spacing:0.5px;line-height:12px;margin:var(--Footer-Margin) auto auto;max-width:90rem;}/*!sc*/ @media (min-width: 48rem){.VSjGq{margin:var(--Footer-Margin) -24px auto;width:calc(100% + 48px);}}/*!sc*/ @media (min-width: 80rem){.VSjGq{margin:var(--Footer-Margin) -48px auto;width:calc(100% + 96px);}}/*!sc*/ data-styled.g48[id="sc-f19f6d8d-0"]{content:"VSjGq,"}/*!sc*/ .lmdIU{padding:16px;display:-ms-grid;display:grid;-ms-grid-columns:repeat(1, auto);grid-template-columns:repeat(1, auto);}/*!sc*/ @media (min-width: 48rem){.lmdIU{gap:16px;-ms-grid-columns:repeat(3, auto);grid-template-columns:repeat(3, auto);padding:24px;}}/*!sc*/ @media (min-width: 90rem){.lmdIU{padding:24px 48px;}}/*!sc*/ data-styled.g49[id="sc-f19f6d8d-1"]{content:"lmdIU,"}/*!sc*/ .dybSZs{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;}/*!sc*/ data-styled.g50[id="sc-f19f6d8d-2"]{content:"dybSZs,"}/*!sc*/ .hIkNXl{border-bottom:1px solid #D1D1D6;display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-flex-direction:column;-ms-flex-direction:column;flex-direction:column;gap:16px;padding:16px 0;}/*!sc*/ .hIkNXl:last-child{border-bottom:0;}/*!sc*/ @media (min-width: 48rem){.hIkNXl{padding:0;border-bottom:0;border-right:1px solid #D1D1D6;}.hIkNXl:nth-child(1){-ms-grid-column-span:2;grid-column-end:2;}.hIkNXl:nth-child(1),.hIkNXl:nth-child(2){-ms-grid-column:span 2;grid-column-start:span 2;}.hIkNXl:nth-child(3),.hIkNXl:nth-child(4),.hIkNXl:nth-child(5){-ms-grid-row:2;grid-row:2;}.hIkNXl:last-child,.hIkNXl:nth-child(2){border-right:0;}}/*!sc*/ @media (min-width: 90rem){.hIkNXl:nth-child(1),.hIkNXl:nth-child(2),.hIkNXl:nth-child(3),.hIkNXl:nth-child(4),.hIkNXl:nth-child(5){-ms-grid-row:1;grid-row:1;}.hIkNXl:nth-child(2){border-right:1px solid #D1D1D6;padding-right:16px;-ms-grid-column:span 4;grid-column-start:span 4;}}/*!sc*/ .hIkNXl.sections .sc-f19f6d8d-2{display:-ms-grid;display:grid;-webkit-box-pack:justify;-webkit-justify-content:space-between;justify-content:space-between;-ms-grid-columns:repeat(3, auto);grid-template-columns:repeat(3, auto);-ms-grid-rows:repeat(2, auto);grid-template-rows:repeat(2, auto);-webkit-align-items:flex-start;-webkit-box-align:flex-start;-ms-flex-align:flex-start;align-items:flex-start;}/*!sc*/ @media (min-width: 48rem){.hIkNXl.sections .sc-f19f6d8d-2{-ms-grid-columns:repeat(5, 20%);grid-template-columns:repeat(5, 20%);}}/*!sc*/ @media (min-width: 64rem){.hIkNXl.sections .sc-f19f6d8d-2{-ms-grid-columns:repeat(5, auto);grid-template-columns:repeat(5, auto);}}/*!sc*/ .hIkNXl.rankings .sc-f19f6d8d-2{display:-ms-grid;display:grid;-ms-grid-columns:repeat(2, 50%);grid-template-columns:repeat(2, 50%);-ms-grid-rows:1fr;grid-template-rows:1fr;}/*!sc*/ @media (min-width: 48rem){.hIkNXl.rankings .sc-f19f6d8d-2{-ms-grid-columns:repeat(2, auto);grid-template-columns:repeat(2, auto);}}/*!sc*/ data-styled.g51[id="sc-f19f6d8d-3"]{content:"hIkNXl,"}/*!sc*/ .hZBwau{color:#E4121A;font-size:16px;font-weight:500;letter-spacing:1px;line-height:24px;}/*!sc*/ @media (min-width: 48rem){.hZBwau{margin-top:0px;margin-bottom:0px;}}/*!sc*/ data-styled.g52[id="sc-f19f6d8d-4"]{content:"hZBwau,"}/*!sc*/ .cEViLJ{border-bottom:1px solid #D1D1D6;border-top:1px solid #D1D1D6;display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-flex-direction:column;-ms-flex-direction:column;flex-direction:column;padding:24px 16px;}/*!sc*/ @media (min-width: 48rem){.cEViLJ{padding:24px;}}/*!sc*/ @media (min-width: 90rem){.cEViLJ{-webkit-flex-direction:row;-ms-flex-direction:row;flex-direction:row;padding:24px 48px;}}/*!sc*/ data-styled.g53[id="sc-f19f6d8d-5"]{content:"cEViLJ,"}/*!sc*/ .dWumMM{color:#666666;font-size:12px;font-weight:400;letter-spacing:1px;line-height:18px;-webkit-order:2;-ms-flex-order:2;order:2;}/*!sc*/ .dWumMM a{color:#007B9D;-webkit-text-decoration:underline;text-decoration:underline;}/*!sc*/ .dWumMM a:hover,.dWumMM a:hover>*:not(.no-hover),.dWumMM a:focus,.dWumMM a:focus>*:not(.no-focus){-webkit-text-decoration:none;text-decoration:none;}/*!sc*/ .dWumMM a:active,.dWumMM a:active>*:not(.no-active){-webkit-text-decoration:underline;text-decoration:underline;color:#666666;}/*!sc*/ .dWumMM p{margin:0px;}/*!sc*/ @media (min-width: 90rem){.dWumMM{-webkit-order:1;-ms-flex-order:1;order:1;}}/*!sc*/ data-styled.g54[id="sc-f19f6d8d-6"]{content:"dWumMM,"}/*!sc*/ .fWvSQY{font-family:var(--graphik-cond),Graphik Cond,Arial Narrow,Helvetica neue Condensed,sans-serif;font-size:12px;font-weight:500;line-height:16px;list-style:none;display:-ms-grid;display:grid;gap:16px;}/*!sc*/ data-styled.g55[id="sc-4ebe8201-0"]{content:"fWvSQY,"}/*!sc*/ @media (min-width: 48rem){.iZowab{white-space:nowrap;overflow:hidden;text-overflow:ellipsis;}}/*!sc*/ .iZowab >a{letter-spacing:1px;-webkit-text-decoration:none;text-decoration:none;}/*!sc*/ data-styled.g56[id="sc-4ebe8201-1"]{content:"iZowab,"}/*!sc*/ .cavswr.drawer-toggle{display:none;}/*!sc*/ .cavswr.drawer-toggle:checked~.drawer-menu{visibility:visible;left:0;overflow:hidden;}/*!sc*/ .cavswr.drawer-toggle:checked~.overlay{visibility:visible;opacity:0.5;}/*!sc*/ data-styled.g57[id="sc-25daf897-0"]{content:"cavswr,"}/*!sc*/ .iWXKXT.hamburger-toggle{display:block;width:30px;height:30px;cursor:pointer;margin-right:16px;position:relative;}/*!sc*/ @media (min-width: 64rem){.iWXKXT.hamburger-toggle{margin-right:24px;}}/*!sc*/ .iWXKXT.hamburger-toggle svg{-webkit-transition:all .2s ease-in-out;transition:all .2s ease-in-out;width:30px;height:30px;}/*!sc*/ .iWXKXT.hamburger-toggle:hover svg{fill:#666666;-webkit-transition:all .2s ease-in-out;transition:all .2s ease-in-out;}/*!sc*/ .iWXKXT.hamburger-toggle:focus svg,.iWXKXT.hamburger-toggle:active svg{fill:#666666;}/*!sc*/ .iWXKXT.close-menu{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-align-items:flex-start;-webkit-box-align:flex-start;-ms-flex-align:flex-start;align-items:flex-start;-webkit-box-pack:start;-ms-flex-pack:start;-webkit-justify-content:flex-start;justify-content:flex-start;cursor:pointer;position:relative;width:27px;height:23px;}/*!sc*/ @media (min-width: 48rem){.iWXKXT.close-menu{height:40px;width:33px;}}/*!sc*/ .iWXKXT.close-menu:active:before,.iWXKXT.close-menu:focus:before,.iWXKXT.close-menu:focus-within:before,.iWXKXT.close-menu:active:after,.iWXKXT.close-menu:focus:after,.iWXKXT.close-menu:focus-within:after{background-color:#D1D1D6;}/*!sc*/ .iWXKXT.close-menu:hover:before,.iWXKXT.close-menu:hover:after{background-color:#007B9D;}/*!sc*/ .iWXKXT.close-menu::before{margin:auto;content:'';-webkit-mask:url("/icons/svg/close-icon.svg") no-repeat center center;mask:url("/icons/svg/close-icon.svg") no-repeat center center;display:block;background-color:#666666;width:18px;height:19px;-webkit-mask-size:18px 19px;mask-size:18px 19px;background-color:#111111;}/*!sc*/ @media (min-width: 48rem){.iWXKXT.close-menu::before{content:'';-webkit-mask:url("/icons/svg/close-icon.svg") no-repeat center center;mask:url("/icons/svg/close-icon.svg") no-repeat center center;display:block;background-color:#666666;width:23px;height:22px;-webkit-mask-size:23px 22px;mask-size:23px 22px;background-color:#111111;}}/*!sc*/ data-styled.g60[id="sc-25daf897-3"]{content:"iWXKXT,"}/*!sc*/ .iMBdxX{height:40px;width:200px;-webkit-animation:opacity 2.5s both;animation:opacity 2.5s both;background-color:#F2F2F2;background-image:linear-gradient( 90deg, #66666600 20%, #6666661A 50%, #66666600 80% );-webkit-background-size:600px;background-size:600px;-webkit-background-position:0 0;background-position:0 0;}/*!sc*/ @-webkit-keyframes opacity{0%{opacity:1;}50%{opacity:0;}100%{opacity:1;}}/*!sc*/ @keyframes opacity{0%{opacity:1;}50%{opacity:0;}100%{opacity:1;}}/*!sc*/ data-styled.g63[id="sc-7b315448-0"]{content:"iMBdxX,"}/*!sc*/ .jpmrha{margin:0 auto;height:56px;display:-ms-grid;display:grid;-ms-grid-auto-flow:column;grid-auto-flow:column;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;padding:0;font-family:var(--graphik-cond),Graphik Cond,Arial Narrow,Helvetica neue Condensed,sans-serif;font-weight:600;border-bottom:1px solid #F2F2F2;}/*!sc*/ @media (min-width: 48rem){.jpmrha{padding:0 24px;}}/*!sc*/ @media (min-width: 64rem){.jpmrha{font-size:20px;line-height:24px;}}/*!sc*/ @media (min-width: 80rem){.jpmrha{max-width:1345px;padding:0 48px;}}/*!sc*/ @media (min-width: 90rem){.jpmrha{padding:unset;}}/*!sc*/ .jpmrha.own,.jpmrha.europe,.jpmrha.asia,.jpmrha.education,.jpmrha.recommends{-ms-grid-columns:1fr 140px 1fr;grid-template-columns:1fr 140px 1fr;}/*!sc*/ .jpmrha.crypto,.jpmrha.well{-ms-grid-columns:1fr 307px 1fr;grid-template-columns:1fr 307px 1fr;}/*!sc*/ data-styled.g74[id="sc-3213081d-0"]{content:"jpmrha,"}/*!sc*/ .kwSTEc{display:none;}/*!sc*/ @media (min-width: 48rem){.kwSTEc{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;}}/*!sc*/ data-styled.g75[id="sc-3213081d-1"]{content:"kwSTEc,"}/*!sc*/ .diyYJC{display:none;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;cursor:pointer;}/*!sc*/ .diyYJC >label{color:#111111;font-size:20px;cursor:pointer;margin:auto;}/*!sc*/ .diyYJC >label:hover{color:#666666;}/*!sc*/ @media (min-width: 48rem){.diyYJC{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;}}/*!sc*/ data-styled.g76[id="sc-3213081d-2"]{content:"diyYJC,"}/*!sc*/ .kbgTHx{text-align:center;display:none;}/*!sc*/ .kbgTHx svg{height:32px;}/*!sc*/ .kbgTHx .recommends-logo{width:380px;}/*!sc*/ @media (min-width: 48rem){.kbgTHx{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;}}/*!sc*/ data-styled.g77[id="sc-3213081d-3"]{content:"kbgTHx,"}/*!sc*/ .dsMMkP{display:none;-ms-grid-column-align:end;justify-self:end;position:relative;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;min-height:24px;}/*!sc*/ @media (min-width: 48rem){.dsMMkP{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;}}/*!sc*/ .dsMMkP .account-placeholder{position:absolute;margin:auto;top:0;bottom:0;right:0;}/*!sc*/ .dsMMkP .subscribe-link{text-transform:uppercase;max-height:38px;}/*!sc*/ @media (min-width: 48rem){.dsMMkP .subscribe-link{padding:8px 16px;margin-left:24px;}}/*!sc*/ @media (min-width: 64rem){.dsMMkP .subscribe-link{margin-left:40px;font-size:16px;}}/*!sc*/ .dsMMkP .sign-in-button{margin:0;margin-left:16px;-webkit-text-decoration:none;text-decoration:none;color:#111111;}/*!sc*/ .dsMMkP .sign-in-button:hover{-webkit-text-decoration:none;text-decoration:none;color:#666666;}/*!sc*/ .dsMMkP .sign-in-button:active{color:#666666;}/*!sc*/ @media (min-width: 48rem){.dsMMkP .sign-in-button{margin-right:16px;}}/*!sc*/ @media (min-width: 64rem){.dsMMkP .sign-in-button{font-size:20px;margin-left:24px;margin-right:0;}}/*!sc*/ data-styled.g78[id="sc-3213081d-4"]{content:"dsMMkP,"}/*!sc*/ .eUrVDN{background:#FFFFFF;will-change:transform;position:-webkit-sticky;position:sticky;top:var(--cc-sbillboard-min-height, var(--ld-height, 0));-webkit-transform:translateZ(0);-moz-transform:translateZ(0);-ms-transform:translateZ(0);transform:translateZ(0);z-index:9999;height:80px;isolation:isolate;}/*!sc*/ @media (min-width: 48rem){.eUrVDN{height:56px;margin:0 auto;width:100%;}}/*!sc*/ data-styled.g80[id="sc-5a5ea9c0-0"]{content:"eUrVDN,"}/*!sc*/ .JaWRi{background-color:#FFFFFF;max-height:100vh;display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-flex-direction:column;-ms-flex-direction:column;flex-direction:column;position:relative;}/*!sc*/ .JaWRi .menu-list{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-flex-direction:column;-ms-flex-direction:column;flex-direction:column;gap:24px;padding:24px 0;position:relative;}/*!sc*/ @-webkit-keyframes slide-in{0%{-webkit-transform:translateX(100%);-moz-transform:translateX(100%);-ms-transform:translateX(100%);transform:translateX(100%);}100%{-webkit-transform:translateX(0);-moz-transform:translateX(0);-ms-transform:translateX(0);transform:translateX(0);}}/*!sc*/ @keyframes slide-in{0%{-webkit-transform:translateX(100%);-moz-transform:translateX(100%);-ms-transform:translateX(100%);transform:translateX(100%);}100%{-webkit-transform:translateX(0);-moz-transform:translateX(0);-ms-transform:translateX(0);transform:translateX(0);}}/*!sc*/ @-webkit-keyframes slide-out{0%{-webkit-transform:translateX(0);-moz-transform:translateX(0);-ms-transform:translateX(0);transform:translateX(0);}100%{-webkit-transform:translateX(-100%);-moz-transform:translateX(-100%);-ms-transform:translateX(-100%);transform:translateX(-100%);}}/*!sc*/ @keyframes slide-out{0%{-webkit-transform:translateX(0);-moz-transform:translateX(0);-ms-transform:translateX(0);transform:translateX(0);}100%{-webkit-transform:translateX(-100%);-moz-transform:translateX(-100%);-ms-transform:translateX(-100%);transform:translateX(-100%);}}/*!sc*/ @-webkit-keyframes slide-out-right{0%{-webkit-transform:translateX(-100%);-moz-transform:translateX(-100%);-ms-transform:translateX(-100%);transform:translateX(-100%);}100%{-webkit-transform:translateX(0);-moz-transform:translateX(0);-ms-transform:translateX(0);transform:translateX(0);}}/*!sc*/ @keyframes slide-out-right{0%{-webkit-transform:translateX(-100%);-moz-transform:translateX(-100%);-ms-transform:translateX(-100%);transform:translateX(-100%);}100%{-webkit-transform:translateX(0);-moz-transform:translateX(0);-ms-transform:translateX(0);transform:translateX(0);}}/*!sc*/ .JaWRi .menu-list.not-open .submenu{position:absolute;left:100%;width:100%;display:none;}/*!sc*/ @media (min-width: 64rem){.JaWRi .menu-list.not-open .submenu{left:375px;}}/*!sc*/ .JaWRi .menu-list.not-open .level-0{width:100%;right:0;-webkit-animation:slide-out-right 0.3s;animation:slide-out-right 0.3s;-webkit-animation-timing-function:ease-in;animation-timing-function:ease-in;}/*!sc*/ .JaWRi .menu-list.open .level-0{width:100%;right:100vw;-webkit-animation:slide-out 0.3s;animation:slide-out 0.3s;-webkit-animation-timing-function:ease-in;animation-timing-function:ease-in;display:none;}/*!sc*/ @media (min-width: 64rem){.JaWRi .menu-list.open .level-0{right:375px;}}/*!sc*/ .JaWRi .menu-list.open .submenu{position:absolute;left:100%;width:100%;}/*!sc*/ .JaWRi .menu-list.open .active+.submenu{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-flex-direction:column;-ms-flex-direction:column;flex-direction:column;gap:24px;left:0;-webkit-animation:slide-in 0.3s;animation:slide-in 0.3s;-webkit-animation-timing-function:ease-in;animation-timing-function:ease-in;}/*!sc*/ .JaWRi .menu-list.open .active+.submenu .level-0.active{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-box-pack:start;-ms-flex-pack:start;-webkit-justify-content:flex-start;justify-content:flex-start;right:0;}/*!sc*/ .JaWRi .menu-list.open .active+.submenu .level-1{padding-left:27px;}/*!sc*/ .JaWRi .menu-list.open .active+.submenu .level-1 .menu-link{font-size:18px;font-weight:600;}/*!sc*/ .JaWRi .menu-list.open .submenu-head{-webkit-box-pack:start;-ms-flex-pack:start;-webkit-justify-content:flex-start;justify-content:flex-start;}/*!sc*/ .JaWRi .menu-list.open .submenu-head a:not(:only-child){color:#111111;position:relative;margin-left:10px;-webkit-flex:none;-ms-flex:none;flex:none;}/*!sc*/ .JaWRi .menu-list.open .submenu-head a:not(:only-child)::after{content:"";position:absolute;left:0;width:100%;right:0px;bottom:-5px;height:2px;background:#E4121A;}/*!sc*/ .JaWRi .menu-list.open .submenu-head .arrow{border-color:#111111;}/*!sc*/ .JaWRi .menu-list.open .submenu-head .arrow :hover{border-color:#666666;}/*!sc*/ data-styled.g81[id="sc-ba89f8ca-0"]{content:"JaWRi,"}/*!sc*/ .eGLRYI{height:100%;width:100%;position:fixed;top:0;left:-100%;background-color:#FFFFFF;-webkit-transition:all 0.3s ease-in-out;transition:all 0.3s ease-in-out;z-index:100002;padding:0 16px;visibility:hidden;}/*!sc*/ .eGLRYI a:hover{color:#666666;}/*!sc*/ .eGLRYI .close-menu:hover:before{background-color:#666666;}/*!sc*/ .eGLRYI .links-menu{margin:0 20px;overflow:hidden auto;scrollbar-width:none;height:calc(100vh - 195px);}/*!sc*/ .eGLRYI .links-menu::-webkit-scrollbar{display:none;}/*!sc*/ .eGLRYI.open{left:0;visibility:visible;}/*!sc*/ @media (min-width: 48rem){.eGLRYI{width:100%;left:-100%;padding:0 24px 24px;}}/*!sc*/ @media (min-width: 64rem){.eGLRYI{max-width:375px;left:-375px;}}/*!sc*/ .eGLRYI .extra-padding{padding-bottom:64px;}/*!sc*/ @supports (height: 100svh){.eGLRYI{height:100%;}.eGLRYI .extra-padding{padding-bottom:0;}}/*!sc*/ data-styled.g86[id="sc-bafb0ca3-0"]{content:"eGLRYI,"}/*!sc*/ .hNRzgj{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;position:-webkit-sticky;position:sticky;background-color:#FFFFFF;top:0;left:20px;padding-top:16px;padding-bottom:8px;z-index:9999;-webkit-box-pack:justify;-webkit-justify-content:space-between;justify-content:space-between;border-bottom:1px solid #D1D1D6;min-height:70px;}/*!sc*/ @media (min-width: 48rem){.hNRzgj{padding-top:24px;}}/*!sc*/ data-styled.g87[id="sc-bafb0ca3-1"]{content:"hNRzgj,"}/*!sc*/ @media (max-width: 47.95rem){.kqGBoi{border-top:1px solid #F2F2F2;background-color:#FFFFFF;position:-webkit-sticky;position:sticky;bottom:16px;padding-top:5px;z-index:9999;}.kqGBoi.education{bottom:60px;}.kqGBoi .subscribe-link{text-transform:uppercase;font-size:16px;font-weight:600;}}/*!sc*/ data-styled.g88[id="sc-bafb0ca3-2"]{content:"kqGBoi,"}/*!sc*/ .fdzxUs{display:-webkit-inline-box;display:-webkit-inline-flex;display:-ms-inline-flexbox;display:inline-flex;}/*!sc*/ .fdzxUs .close-menu{margin-right:24px;}/*!sc*/ data-styled.g90[id="sc-bafb0ca3-4"]{content:"fdzxUs,"}/*!sc*/ .eWOJhr{display:-webkit-inline-box;display:-webkit-inline-flex;display:-ms-inline-flexbox;display:inline-flex;}/*!sc*/ data-styled.g91[id="sc-bafb0ca3-5"]{content:"eWOJhr,"}/*!sc*/ .rDExI{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;width:100%;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;-webkit-box-pack:justify;-webkit-justify-content:space-between;justify-content:space-between;}/*!sc*/ .rDExI .link{font-family:var(--graphik-cond),Graphik Cond,Arial Narrow,Helvetica neue Condensed,sans-serif;font-weight:500;font-size:16px;margin-left:32px;display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;text-transform:uppercase;}/*!sc*/ .rDExI .search-button{cursor:pointer;}/*!sc*/ .rDExI .search-button:hover label::before{background-color:#666666;}/*!sc*/ .rDExI .search-button label{cursor:pointer;}/*!sc*/ .rDExI .search-button label::before{content:'';-webkit-mask:url("/icons/svg/search-icon.svg") no-repeat center center;mask:url("/icons/svg/search-icon.svg") no-repeat center center;display:block;background-color:#666666;width:24px;height:24px;-webkit-mask-size:24px 24px;mask-size:24px 24px;background-color:#111111;}/*!sc*/ .rDExI .mobile-logo .logo{height:24px;cursor:pointer;}/*!sc*/ .rDExI .mobile-logo .crypto-logo{height:24px;width:170px;}/*!sc*/ .rDExI .mobile-logo .well-logo{height:24px;width:178px;cursor:pointer;}/*!sc*/ .rDExI .mobile-logo .recommends-logo{height:16px;width:200px;cursor:pointer;}/*!sc*/ .rDExI .mobile-logo .education-logo{height:16px;cursor:pointer;}/*!sc*/ @media (min-width: 48rem){.rDExI .mobile-logo{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;}}/*!sc*/ @media (min-width: 48rem){.rDExI{-webkit-box-pack:justify;-webkit-justify-content:space-between;justify-content:space-between;width:100%;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;}}/*!sc*/ data-styled.g92[id="sc-bafb0ca3-6"]{content:"rDExI,"}/*!sc*/ .iqCsYT{z-index:100001;position:fixed;inset:0;background-color:#111111;opacity:0;-webkit-transition:all 0.3s ease-in-out;transition:all 0.3s ease-in-out;visibility:hidden;}/*!sc*/ data-styled.g93[id="sc-bafb0ca3-7"]{content:"iqCsYT,"}/*!sc*/ .fQTwdH{display:-webkit-inline-box;display:-webkit-inline-flex;display:-ms-inline-flexbox;display:inline-flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;position:relative;font-family:var(--graphik-cond),Graphik Cond,Arial Narrow,Helvetica neue Condensed,sans-serif;color:#111111;-webkit-box-pack:justify;-webkit-justify-content:space-between;justify-content:space-between;line-height:120%;font-weight:600;font-size:20px;}/*!sc*/ .fQTwdH a{-webkit-flex:1;-ms-flex:1;flex:1;color:#111111;text-transform:uppercase;}/*!sc*/ .fQTwdH >a:only-child{margin-right:20px;}/*!sc*/ .eVBxUw{display:-webkit-inline-box;display:-webkit-inline-flex;display:-ms-inline-flexbox;display:inline-flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;position:relative;font-family:var(--graphik-cond),Graphik Cond,Arial Narrow,Helvetica neue Condensed,sans-serif;color:#111111;-webkit-box-pack:justify;-webkit-justify-content:space-between;justify-content:space-between;line-height:120%;font-weight:500;font-size:20px;}/*!sc*/ .eVBxUw a{-webkit-flex:1;-ms-flex:1;flex:1;color:#111111;text-transform:uppercase;}/*!sc*/ .eVBxUw >a:only-child{margin-right:20px;}/*!sc*/ data-styled.g94[id="sc-1ff8631d-0"]{content:"fQTwdH,eVBxUw,"}/*!sc*/ .imMFPG{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;-webkit-box-pack:center;-ms-flex-pack:center;-webkit-justify-content:center;justify-content:center;cursor:pointer;padding:8px;margin:-8px;}/*!sc*/ .imMFPG .arrow{border-style:solid;border-color:inherit;border-width:0 1.5px 1.5px 0;display:inline-block;padding:3px;width:9px;height:9px;content:'';-webkit-transform:rotate(-45deg);-moz-transform:rotate(-45deg);-ms-transform:rotate(-45deg);transform:rotate(-45deg);-webkit-transform:rotate(-45deg);margin-bottom:1px;margin-right:2px;margin-top:3px;border-color:#111111;padding:5px;border-width:0 3px 3px 0;margin-top:0;}/*!sc*/ .imMFPG:hover .arrow{border-color:#666666;}/*!sc*/ .imMFPG:focus .arrow{border-color:#666666;}/*!sc*/ .imMFPG.right{-webkit-transform:rotate(-180deg);-moz-transform:rotate(-180deg);-ms-transform:rotate(-180deg);transform:rotate(-180deg);}/*!sc*/ data-styled.g96[id="sc-1ff8631d-2"]{content:"imMFPG,"}/*!sc*/ .hmUVNN{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-box-pack:center;-ms-flex-pack:center;-webkit-justify-content:center;justify-content:center;gap:16px;}/*!sc*/ .hmUVNN>li:last-child>ul{right:0;left:unset;}/*!sc*/ @media (min-width: 64rem){.hmUVNN>li:last-child>ul{right:unset;left:0;}}/*!sc*/ @media (max-width: 47.95rem){.hmUVNN{-webkit-box-align:center;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;-webkit-box-pack:justify;-webkit-box-pack:justify;-webkit-justify-content:space-between;justify-content:space-between;padding-left:16px;white-space:nowrap;scrollbar-width:none;overflow:scroll hidden;}.hmUVNN::-webkit-scrollbar{display:none;}}/*!sc*/ data-styled.g97[id="sc-e1317978-0"]{content:"hmUVNN,"}/*!sc*/ .kszLfE{background:#FFFFFF;padding:16px;box-shadow:0px 25px 20px -20px #11111110;}/*!sc*/ .kszLfE:not(.no-margin){margin:0 auto 24px 0;}/*!sc*/ @media (min-width: 48rem){.kszLfE:not(.no-margin){margin:0 auto 32px 0;}}/*!sc*/ @media (min-width: 64rem){.kszLfE:not(.no-margin){margin:0 auto 40px 0;}}/*!sc*/ data-styled.g98[id="sc-e1317978-1"]{content:"kszLfE,"}/*!sc*/ .lpebxx{position:absolute;width:100%;height:18px;background:transparent;}/*!sc*/ data-styled.g99[id="sc-e1317978-2"]{content:"lpebxx,"}/*!sc*/ .etbNxl{position:relative;display:inline-block;padding:0 8px;}/*!sc*/ @media (min-width: 64rem){.etbNxl:hover >ul,.etbNxl:focus-within >ul{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;left:0;}}/*!sc*/ .etbNxl:hover>a::after{content:"";position:absolute;left:0px;right:0px;bottom:-1px;height:2px;background:#E4121A;}/*!sc*/ data-styled.g100[id="sc-e1317978-3"]{content:"etbNxl,"}/*!sc*/ .kZwfFk{font-style:normal;font-weight:600;font-size:16px;}/*!sc*/ .kZwfFk.selected::after{content:"";position:absolute;left:0px;right:0px;bottom:-1px;height:2px;background:#E4121A;}/*!sc*/ data-styled.g101[id="sc-e1317978-4"]{content:"kZwfFk,"}/*!sc*/ .caAsTT{display:none;min-width:236px;-webkit-flex-direction:column;-ms-flex-direction:column;flex-direction:column;position:absolute;z-index:11;background-color:#FFFFFF;padding:16px;box-shadow:4px 4px 20px 0px #1111110d;font-family:var(--graphik-cond),Graphik Cond,Arial Narrow,Helvetica neue Condensed,sans-serif;top:calc(100% + 16px);}/*!sc*/ .caAsTT>li:first-child{border-top:0;padding-top:0;}/*!sc*/ .caAsTT.open{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;min-width:230px;}/*!sc*/ .caAsTT .submenu-link{display:inline-block;}/*!sc*/ .caAsTT .submenu-link:hover{color:#666666;}/*!sc*/ data-styled.g102[id="sc-216aa589-0"]{content:"caAsTT,"}/*!sc*/ .cjnuov{width:100%;text-align:left;padding-top:8px;}/*!sc*/ .cjnuov .submenu-link{font-weight:600;line-height:150%;text-transform:uppercase;font-size:16px;letter-spacing:0.5px;}/*!sc*/ data-styled.g103[id="sc-216aa589-1"]{content:"cjnuov,"}/*!sc*/ .cBTbqy{background-color:#FFFFFF;display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-box-pack:center;-ms-flex-pack:center;-webkit-justify-content:center;justify-content:center;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;width:100%;text-align:center;}/*!sc*/ .cBTbqy:empty{min-height:0;height:0;}/*!sc*/ .cBTbqy.leaderboard--sticky{position:-webkit-sticky;position:sticky;z-index:9999;top:0;}/*!sc*/ .cBTbqy.leaderboard--sticky>div{position:-webkit-sticky;position:sticky;}/*!sc*/ @media (min-width: 20rem){.cBTbqy{min-height:110px!important;}}/*!sc*/ @media (min-width: 48rem){.cBTbqy{min-height:161px!important;}}/*!sc*/ @media (min-width: 64rem){.cBTbqy{min-height:300px!important;}}/*!sc*/ data-styled.g121[id="sc-598c3945-0"]{content:"cBTbqy,"}/*!sc*/ .dnBpwI{margin:auto;overflow:clip;}/*!sc*/ @media (min-width: 48rem){.dnBpwI{padding:0px 24px;}}/*!sc*/ @media (min-width: 80rem){.dnBpwI{padding:0px 48px;}}/*!sc*/ @media (min-width: 90rem){.dnBpwI{max-width:1440px;}}/*!sc*/ data-styled.g123[id="sc-598c3945-2"]{content:"dnBpwI,"}/*!sc*/ .dEnIaI{width:300px;min-height:250px;position:none;top:0px;padding-top:0px;}/*!sc*/ data-styled.g131[id="sc-ae55e816-7"]{content:"dEnIaI,"}/*!sc*/ .jLaGwN{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-flex-direction:column;-ms-flex-direction:column;flex-direction:column;-webkit-box-pack:end;-ms-flex-pack:end;-webkit-justify-content:end;justify-content:end;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;width:100%;height:600px;pointer-events:none;position:fixed;bottom:0;left:0;right:0;z-index:99999;}/*!sc*/ .jLaGwN iframe{pointer-events:auto;}/*!sc*/ data-styled.g150[id="sc-34036c4b-0"]{content:"jLaGwN,"}/*!sc*/ .fMbRpW{font-weight:600;line-height:120%;color:#111111;font-family:var(--graphik-cond),Graphik Cond,Arial Narrow,Helvetica neue Condensed,sans-serif;letter-spacing:0.5px;font-size:3rem;}/*!sc*/ @media (min-width: 48rem){.fMbRpW{font-size:3.75rem;}}/*!sc*/ @media (min-width: 90rem){.fMbRpW{font-size:6rem;}}/*!sc*/ data-styled.g152[id="sc-3358ecfd-0"]{content:"fMbRpW,"}/*!sc*/ .rsHZl{display:-ms-grid;display:grid;-ms-grid-columns:70fr 30fr;grid-template-columns:70fr 30fr;-ms-grid-rows:auto 60px 1fr;grid-template-rows:auto 60px 1fr;}/*!sc*/ .rsHZl .author-hero{grid-area:1/1/2/2;}/*!sc*/ .rsHZl .sidebar{grid-area:1/2/4/3;}/*!sc*/ .rsHZl .author-pages{grid-area:2/1/3/2;}/*!sc*/ .rsHZl .articles{grid-area:3/1/4/2;}/*!sc*/ .rsHZl .infinite-scroll-button-spinner{grid-area:4/1/4/2;}/*!sc*/ .rsHZl .infinite-scroll-button-spinner .show-more{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;margin-right:auto;margin-left:auto;margin-bottom:24px;}/*!sc*/ .rsHZl .infinite-scroll-button-spinner .show-more.hidden{visibility:hidden;pointer-events:none;}/*!sc*/ .rsHZl .infinite-scroll-button-spinner .spinning-loader{margin:auto;margin-bottom:48px;}/*!sc*/ @media (max-width: 71.95rem){.rsHZl{-ms-grid-columns:100fr;grid-template-columns:100fr;}}/*!sc*/ data-styled.g530[id="sc-3254b5f8-0"]{content:"rsHZl,"}/*!sc*/ .IkGHl{margin-left:48px;margin-top:48px;}/*!sc*/ @media (max-width: 71.95rem){.IkGHl{display:none;}}/*!sc*/ .IkGHl .side-ad{margin-bottom:48px;}/*!sc*/ data-styled.g531[id="sc-3254b5f8-1"]{content:"IkGHl,"}/*!sc*/ .hrXUrP{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-flex-direction:column;-ms-flex-direction:column;flex-direction:column;-webkit-box-pack:start;-ms-flex-pack:start;-webkit-justify-content:flex-start;justify-content:flex-start;width:95%;}/*!sc*/ @media (min-width: 48rem){.hrXUrP{-webkit-flex-direction:row;-ms-flex-direction:row;flex-direction:row;-webkit-box-flex-wrap:wrap;-webkit-flex-wrap:wrap;-ms-flex-wrap:wrap;flex-wrap:wrap;}}/*!sc*/ @media (min-width: 64rem){.hrXUrP{width:100%;}}/*!sc*/ data-styled.g533[id="sc-25d82a6f-0"]{content:"hrXUrP,"}/*!sc*/ .kKpOzl{letter-spacing:-0.75px;text-align:center;margin-bottom:8px;margin-top:48px;}/*!sc*/ @media (min-width: 48rem){.kKpOzl{letter-spacing:-1px;text-align:left;}}/*!sc*/ @media (min-width: 90rem){.kKpOzl{letter-spacing:-1.5px;line-height:115px;width:100%;}}/*!sc*/ data-styled.g534[id="sc-25d82a6f-1"]{content:"kKpOzl,"}/*!sc*/ .jOarcs ul.social-list{color:#111111;display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-flex:1 1 100%;-ms-flex:1 1 100%;flex:1 1 100%;-webkit-flex-direction:column;-ms-flex-direction:column;flex-direction:column;font-family:var(--graphik-cond),Graphik Cond,Arial Narrow,Helvetica neue Condensed,sans-serif;font-weight:500;-webkit-box-pack:start;-ms-flex-pack:start;-webkit-justify-content:flex-start;justify-content:flex-start;margin:8px 0 16px 16px;}/*!sc*/ .jOarcs ul.social-list svg{width:18px;height:18px;margin-right:8px;margin-bottom:-1.5px;fill:#111111;}/*!sc*/ .jOarcs ul.social-list a{color:#111111;-webkit-text-decoration:none;text-decoration:none;}/*!sc*/ .jOarcs ul.social-list .social{-webkit-box-pack:left;-ms-flex-pack:left;-webkit-justify-content:left;justify-content:left;margin-top:24px;padding-right:32px;}/*!sc*/ @media (min-width: 48rem){.jOarcs ul.social-list .social{margin-top:0;}}/*!sc*/ @media (min-width: 80rem){.jOarcs ul.social-list .social{padding-right:32px;}}/*!sc*/ .jOarcs ul.social-list .social:first-child{margin:0;}/*!sc*/ @media (min-width: 48rem){.jOarcs ul.social-list{-webkit-flex-direction:row;-ms-flex-direction:row;flex-direction:row;margin-left:0px;}}/*!sc*/ data-styled.g537[id="sc-25d82a6f-4"]{content:"jOarcs,"}/*!sc*/ </style></head><body dir="auto" class=""><div id="__next"><div class="__variable_40b425 __variable_75b0c8 __variable_cdc833"><div class="sc-598c3945-0 cBTbqy"></div><input type="checkbox" id="drawer-toggle" class="sc-25daf897-0 cavswr drawer-toggle" aria-label="Toggle Menu"/><div id="header-wrapper-id" data-cy="header" class="sc-5a5ea9c0-0 eUrVDN"><header class="sc-3213081d-0 jpmrha own"><div class="sc-3213081d-1 kwSTEc"><label for="drawer-toggle" class="sc-25daf897-3 iWXKXT hamburger-toggle" aria-label="Open menu" data-cy="burger-button" tabindex="0"><svg width="30" height="25" viewBox="0 0 30 25" fill="#111111" xmlns="http://www.w3.org/2000/svg"><rect y="0.378418" width="30" height="4"></rect><rect y="10.3784" width="30" height="4"></rect><rect y="20.3784" width="30" height="4"></rect></svg></label><div class="sc-3213081d-2 diyYJC own" tabindex="0" role="button" data-cy="searchButton"><label for="queryly_toggle">SEARCH</label></div></div><div class="sc-3213081d-3 kbgTHx own"><a href="https://fortune.com/" target="_self" data-cy="logo" aria-label="Homepage" class="sc-19cc8fd2-0 kspHIT"><svg id="a" class="logo" aria-hidden="true" data-cy="fortune-logo" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 381.65 96.68"><g id="b"><polygon points="342.81 1.33 342.81 95.35 381.65 95.35 381.65 79.43 358.74 79.43 358.74 55.04 373.51 55.04 373.51 39.12 358.74 39.12 358.74 17.25 381.65 17.25 381.65 1.33 342.81 1.33"></polygon><polygon points="311.29 1.33 311.29 52.6 295.18 1.33 279.25 1.33 279.25 95.35 295.18 95.35 295.18 49.29 309.58 95.35 327.22 95.35 327.22 1.33 311.29 1.33"></polygon><path d="M248.25,1.33V74.57c0,3.41-2.77,6.18-6.18,6.18s-6.18-2.77-6.18-6.18V1.33h-15.93V74.57c0,12.21,9.9,22.11,22.11,22.11s22.11-9.9,22.11-22.11V1.33h-15.93Z"></path><polygon points="206.83 1.33 162.7 1.33 162.7 17.25 176.8 17.25 176.8 95.35 192.73 95.35 192.73 17.25 206.83 17.25 206.83 1.33"></polygon><path d="M155.4,95.35h-16.46l-11.77-44.65s10.13-1.82,10.13-12.6v-14.69c0-3.41-2.76-6.17-6.16-6.17h-6.12V95.35h-15.93V1.33h22.04c11.88,0,21.54,9.38,22.05,21.12h.05v15.37h-.05c0,9.28-3.04,15.97-8.59,20.23l10.82,37.3Z"></path><path d="M49.13,22.11v52.47c0,12.21,9.9,22.11,22.11,22.11s22.11-9.9,22.11-22.11V22.1c0-12.21-9.89-22.1-22.1-22.1h0c-12.21,0-22.11,9.9-22.11,22.11m15.93,52.47V22.11c0-3.41,2.77-6.18,6.18-6.18h.02c3.4,0,6.16,2.76,6.16,6.16v52.48c0,3.41-2.77,6.18-6.18,6.18s-6.18-2.77-6.18-6.18"></path><polygon points="0 1.33 0 95.35 15.93 95.35 15.93 55.04 30.69 55.04 30.69 39.12 15.93 39.12 15.93 17.25 38.83 17.25 38.83 1.33 0 1.33"></polygon></g></svg></a></div><div class="sc-3213081d-4 dsMMkP own"><div class="sc-7b315448-0 iMBdxX account-placeholder"></div></div></header></div><div class="sc-e1317978-1 kszLfE"><ul data-cy="topicNavigation" class="sc-e1317978-0 hmUVNN"><li class="sc-e1317978-3 etbNxl own"><a href="https://fortune.com/" target="_self" class="sc-19cc8fd2-0 dlLwcj sc-e1317978-4 kZwfFk own styled-custom-link" data-cy="home" tabindex="0" aria-label="Go to Home">Home</a><div class="sc-e1317978-2 lpebxx"></div></li><li class="sc-e1317978-3 etbNxl own"><a href="https://fortune.com/the-latest/" target="_self" class="sc-19cc8fd2-0 dlLwcj sc-e1317978-4 kZwfFk own styled-custom-link" data-cy="news" tabindex="0" aria-label="Go to News">News</a><div class="sc-e1317978-2 lpebxx"></div></li><li class="sc-e1317978-3 etbNxl own"><a href="https://fortune.com/section/tech/" target="_self" class="sc-19cc8fd2-0 dlLwcj sc-e1317978-4 kZwfFk own showSubmenu styled-custom-link" data-cy="tech" tabindex="0" aria-label="Go to Tech">Tech</a><div class="sc-e1317978-2 lpebxx"></div><ul data-cy="submenu-tech" class="sc-216aa589-0 caAsTT"><li class="sc-216aa589-1 cjnuov"><a href="https://fortune.com/tag/artificial-intelligence/" target="_self" class="sc-19cc8fd2-0 kspHIT submenu-link" aria-label="Go to AI">AI</a></li></ul></li><li class="sc-e1317978-3 etbNxl own"><a href="https://fortune.com/section/finance/" target="_self" class="sc-19cc8fd2-0 dlLwcj sc-e1317978-4 kZwfFk own showSubmenu styled-custom-link" data-cy="finance" tabindex="0" aria-label="Go to Finance">Finance</a><div class="sc-e1317978-2 lpebxx"></div><ul data-cy="submenu-finance" class="sc-216aa589-0 caAsTT"><li class="sc-216aa589-1 cjnuov"><a href="https://fortune.com/section/personal-finance/" target="_self" class="sc-19cc8fd2-0 kspHIT submenu-link" aria-label="Go to Personal Finance">Personal Finance</a></li><li class="sc-216aa589-1 cjnuov"><a href="https://fortune.com/tag/real-estate/" target="_self" class="sc-19cc8fd2-0 kspHIT submenu-link" aria-label="Go to Real Estate">Real Estate</a></li><li class="sc-216aa589-1 cjnuov"><a href="https://fortune.com/crypto/" target="_self" class="sc-19cc8fd2-0 kspHIT submenu-link" aria-label="Go to Crypto">Crypto</a></li></ul></li><li class="sc-e1317978-3 etbNxl own"><a href="https://fortune.com/section/leadership/" target="_self" class="sc-19cc8fd2-0 dlLwcj sc-e1317978-4 kZwfFk own showSubmenu styled-custom-link" data-cy="leadership" tabindex="0" aria-label="Go to Leadership">Leadership</a><div class="sc-e1317978-2 lpebxx"></div><ul data-cy="submenu-leadership" class="sc-216aa589-0 caAsTT"><li class="sc-216aa589-1 cjnuov"><a href="https://fortune.com/section/success/" target="_self" class="sc-19cc8fd2-0 kspHIT submenu-link" aria-label="Go to Success">Success</a></li></ul></li><li class="sc-e1317978-3 etbNxl own"><a href="https://fortune.com/well/" target="_self" class="sc-19cc8fd2-0 dlLwcj sc-e1317978-4 kZwfFk own showSubmenu styled-custom-link" data-cy="well" tabindex="0" aria-label="Go to Well">Well</a><div class="sc-e1317978-2 lpebxx"></div><ul data-cy="submenu-well" class="sc-216aa589-0 caAsTT"><li class="sc-216aa589-1 cjnuov"><a href="https://fortune.com/well/section/life/" target="_self" class="sc-19cc8fd2-0 kspHIT submenu-link" aria-label="Go to Life">Life</a></li><li class="sc-216aa589-1 cjnuov"><a href="https://fortune.com/well/section/health/" target="_self" class="sc-19cc8fd2-0 kspHIT submenu-link" aria-label="Go to Health">Health</a></li><li class="sc-216aa589-1 cjnuov"><a href="https://fortune.com/well/section/mind/" target="_self" class="sc-19cc8fd2-0 kspHIT submenu-link" aria-label="Go to Mind">Mind</a></li><li class="sc-216aa589-1 cjnuov"><a href="https://fortune.com/well/section/family/" target="_self" class="sc-19cc8fd2-0 kspHIT submenu-link" aria-label="Go to Family">Family</a></li><li class="sc-216aa589-1 cjnuov"><a href="https://fortune.com/well/section/aging-well/" target="_self" class="sc-19cc8fd2-0 kspHIT submenu-link" aria-label="Go to Aging Well">Aging Well</a></li></ul></li><li class="sc-e1317978-3 etbNxl own"><a href="https://fortune.com/education/" target="_self" class="sc-19cc8fd2-0 dlLwcj sc-e1317978-4 kZwfFk own showSubmenu styled-custom-link" data-cy="education" tabindex="0" aria-label="Go to Education">Education</a><div class="sc-e1317978-2 lpebxx"></div><ul data-cy="submenu-education" class="sc-216aa589-0 caAsTT"><li class="sc-216aa589-1 cjnuov"><a href="https://fortune.com/education/business/" target="_self" class="sc-19cc8fd2-0 kspHIT submenu-link" aria-label="Go to Top Business Schools">Top Business Schools</a></li><li class="sc-216aa589-1 cjnuov"><a href="https://fortune.com/education/information-technology/" target="_self" class="sc-19cc8fd2-0 kspHIT submenu-link" aria-label="Go to Top Information and Technology Schools">Top Information and Technology Schools</a></li><li class="sc-216aa589-1 cjnuov"><a href="https://fortune.com/education/health/" target="_self" class="sc-19cc8fd2-0 kspHIT submenu-link" aria-label="Go to Top Health Schools">Top Health Schools</a></li></ul></li><li class="sc-e1317978-3 etbNxl own"><a href="https://fortune.com/ranking/fortune500/" target="_self" class="sc-19cc8fd2-0 dlLwcj sc-e1317978-4 kZwfFk own showSubmenu styled-custom-link" data-cy="fortune-500" tabindex="0" aria-label="Go to Fortune 500">Fortune 500</a><div class="sc-e1317978-2 lpebxx"></div><ul data-cy="submenu-fortune-500" class="sc-216aa589-0 caAsTT"><li class="sc-216aa589-1 cjnuov"><a href="https://fortune.com/asia/ranking/southeast-asia-500/" target="_self" class="sc-19cc8fd2-0 kspHIT submenu-link" aria-label="Go to FORTUNE SEA 500">FORTUNE SEA 500</a></li><li class="sc-216aa589-1 cjnuov"><a href="https://fortune.com/europe/ranking/fortune500-europe/" target="_self" class="sc-19cc8fd2-0 kspHIT submenu-link" aria-label="Go to Fortune 500 Europe">Fortune 500 Europe</a></li><li class="sc-216aa589-1 cjnuov"><a href="https://fortune.com/ranking/global500/" target="_self" class="sc-19cc8fd2-0 kspHIT submenu-link" aria-label="Go to Fortune Global 500">Fortune Global 500</a></li><li class="sc-216aa589-1 cjnuov"><a href="https://www.fortunechina.com/fortune500/c/2023-07/25/content_436290.htm" target="_self" class="sc-19cc8fd2-0 kspHIT submenu-link" aria-label="Go to Fortune China 500">Fortune China 500</a></li></ul></li></ul></div><div class="sc-bafb0ca3-0 eGLRYI drawer-menu" data-cy="drawer-menu"><div class="sc-bafb0ca3-1 hNRzgj"><div class="sc-bafb0ca3-6 rDExI"><div class="sc-bafb0ca3-4 fdzxUs"><label for="drawer-toggle" id="drawer-toggle-button" class="sc-25daf897-3 iWXKXT close-menu" aria-label="Close menu" data-cy="closeButton" tabindex="0"></label><a href="https://fortune.com/" target="_self" class="sc-19cc8fd2-0 kspHIT mobile-logo" data-cy="logo" aria-label="Homepage"><svg id="a" class="logo" aria-hidden="true" data-cy="fortune-logo" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 381.65 96.68"><g id="b"><polygon points="342.81 1.33 342.81 95.35 381.65 95.35 381.65 79.43 358.74 79.43 358.74 55.04 373.51 55.04 373.51 39.12 358.74 39.12 358.74 17.25 381.65 17.25 381.65 1.33 342.81 1.33"></polygon><polygon points="311.29 1.33 311.29 52.6 295.18 1.33 279.25 1.33 279.25 95.35 295.18 95.35 295.18 49.29 309.58 95.35 327.22 95.35 327.22 1.33 311.29 1.33"></polygon><path d="M248.25,1.33V74.57c0,3.41-2.77,6.18-6.18,6.18s-6.18-2.77-6.18-6.18V1.33h-15.93V74.57c0,12.21,9.9,22.11,22.11,22.11s22.11-9.9,22.11-22.11V1.33h-15.93Z"></path><polygon points="206.83 1.33 162.7 1.33 162.7 17.25 176.8 17.25 176.8 95.35 192.73 95.35 192.73 17.25 206.83 17.25 206.83 1.33"></polygon><path d="M155.4,95.35h-16.46l-11.77-44.65s10.13-1.82,10.13-12.6v-14.69c0-3.41-2.76-6.17-6.16-6.17h-6.12V95.35h-15.93V1.33h22.04c11.88,0,21.54,9.38,22.05,21.12h.05v15.37h-.05c0,9.28-3.04,15.97-8.59,20.23l10.82,37.3Z"></path><path d="M49.13,22.11v52.47c0,12.21,9.9,22.11,22.11,22.11s22.11-9.9,22.11-22.11V22.1c0-12.21-9.89-22.1-22.1-22.1h0c-12.21,0-22.11,9.9-22.11,22.11m15.93,52.47V22.11c0-3.41,2.77-6.18,6.18-6.18h.02c3.4,0,6.16,2.76,6.16,6.16v52.48c0,3.41-2.77,6.18-6.18,6.18s-6.18-2.77-6.18-6.18"></path><polygon points="0 1.33 0 95.35 15.93 95.35 15.93 55.04 30.69 55.04 30.69 39.12 15.93 39.12 15.93 17.25 38.83 17.25 38.83 1.33 0 1.33"></polygon></g></svg></a></div><div class="sc-bafb0ca3-5 eWOJhr"><button class="sc-d9a6b3c5-0 jylYni search-button" type="button"><label for="queryly_toggle"></label></button></div></div></div><nav class="sc-ba89f8ca-0 JaWRi links-menu"><ul class="menu-list not-open" data-cy="menuMobile"><li class="sc-1ff8631d-0 fQTwdH level-0 " data-cy="itemLink0" id="tab-0"><a href="https://fortune.com/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Home</a></li><li class="sc-1ff8631d-0 fQTwdH level-0 " data-cy="itemLink0" id="tab-1"><a href="https://fortune.com/ranking/fortune500/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">FORTUNE 500</a></li><li class="sc-1ff8631d-0 fQTwdH level-0 " data-cy="itemLink0" id="tab-2"><a href="https://fortune.com/the-latest/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">News</a></li><li class="sc-1ff8631d-0 fQTwdH level-0 " data-cy="itemLink0" id="tab-3"><a href="https://fortune.com/europe/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Europe</a></li><li class="sc-1ff8631d-0 fQTwdH level-0 " data-cy="itemLink0" id="tab-4"><a href="https://fortune.com/asia/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Asia</a></li><li class="sc-1ff8631d-0 fQTwdH level-0 " data-cy="itemLink0" id="tab-5"><a href="https://fortune.com/section/tech/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Tech</a><button class="sc-1ff8631d-2 imMFPG arrow" type="button" data-cy="arrow-button"><span class="arrow"></span></button></li><ul class="sc-1ff8631d-1 ePLCMC submenu" data-cy="subMenuLevel0"><li class="sc-1ff8631d-0 fQTwdH submenu-head"><button class="sc-1ff8631d-2 imMFPG arrow right" type="button" data-cy="arrow-button"><span class="arrow"></span></button><a href="https://fortune.com/section/tech/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Tech</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/tag/artificial-intelligence/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">AI</a></li></ul><li class="sc-1ff8631d-0 fQTwdH level-0 " data-cy="itemLink0" id="tab-6"><a href="https://fortune.com/section/finance/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Finance</a><button class="sc-1ff8631d-2 imMFPG arrow" type="button" data-cy="arrow-button"><span class="arrow"></span></button></li><ul class="sc-1ff8631d-1 ePLCMC submenu" data-cy="subMenuLevel0"><li class="sc-1ff8631d-0 fQTwdH submenu-head"><button class="sc-1ff8631d-2 imMFPG arrow right" type="button" data-cy="arrow-button"><span class="arrow"></span></button><a href="https://fortune.com/section/finance/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Finance</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/section/personal-finance/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Personal Finance</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/tag/real-estate/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Real Estate</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/crypto/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Crypto</a></li></ul><li class="sc-1ff8631d-0 fQTwdH level-0 " data-cy="itemLink0" id="tab-7"><a href="https://fortune.com/section/leadership/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Leadership</a><button class="sc-1ff8631d-2 imMFPG arrow" type="button" data-cy="arrow-button"><span class="arrow"></span></button></li><ul class="sc-1ff8631d-1 ePLCMC submenu" data-cy="subMenuLevel0"><li class="sc-1ff8631d-0 fQTwdH submenu-head"><button class="sc-1ff8631d-2 imMFPG arrow right" type="button" data-cy="arrow-button"><span class="arrow"></span></button><a href="https://fortune.com/section/leadership/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Leadership</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/section/success/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Success</a></li></ul><li class="sc-1ff8631d-0 fQTwdH level-0 " data-cy="itemLink0" id="tab-8"><a href="https://fortune.com/well/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Well</a><button class="sc-1ff8631d-2 imMFPG arrow" type="button" data-cy="arrow-button"><span class="arrow"></span></button></li><ul class="sc-1ff8631d-1 ePLCMC submenu" data-cy="subMenuLevel0"><li class="sc-1ff8631d-0 fQTwdH submenu-head"><button class="sc-1ff8631d-2 imMFPG arrow right" type="button" data-cy="arrow-button"><span class="arrow"></span></button><a href="https://fortune.com/well/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Well</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/well/section/life/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Life</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/well/section/health/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Health</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/well/section/mind/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Mind</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/well/section/family/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Family</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/well/section/aging-well/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Aging Well</a></li></ul><li class="sc-1ff8631d-0 fQTwdH level-0 " data-cy="itemLink0" id="tab-9"><a href="https://fortune.com/education/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Education</a><button class="sc-1ff8631d-2 imMFPG arrow" type="button" data-cy="arrow-button"><span class="arrow"></span></button></li><ul class="sc-1ff8631d-1 ePLCMC submenu" data-cy="subMenuLevel0"><li class="sc-1ff8631d-0 fQTwdH submenu-head"><button class="sc-1ff8631d-2 imMFPG arrow right" type="button" data-cy="arrow-button"><span class="arrow"></span></button><a href="https://fortune.com/education/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Education</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/education/business/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Top Business Schools</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/education/information-technology/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Top Information Technology and Data Schools</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/education/health/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Top Health Schools</a></li></ul><li class="sc-1ff8631d-0 fQTwdH level-0 " data-cy="itemLink0" id="tab-10"><a href="https://fortune.com/videos/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Video</a></li><li class="sc-1ff8631d-0 fQTwdH level-0 " data-cy="itemLink0" id="tab-11"><a href="https://fortune.com/ranking/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Rankings</a><button class="sc-1ff8631d-2 imMFPG arrow" type="button" data-cy="arrow-button"><span class="arrow"></span></button></li><ul class="sc-1ff8631d-1 ePLCMC submenu" data-cy="subMenuLevel0"><li class="sc-1ff8631d-0 fQTwdH submenu-head"><button class="sc-1ff8631d-2 imMFPG arrow right" type="button" data-cy="arrow-button"><span class="arrow"></span></button><a href="https://fortune.com/ranking/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Rankings</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/ranking/fortune500/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">FORTUNE 500</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/ranking/global500/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">GLOBAL 500</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/ranking/most-powerful-women/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">MOST POWERFUL WOMEN</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/great-place-to-work-rankings/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">GREAT PLACE TO WORK LISTS</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/education/business/best-mba-programs/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">BEST MBA PROGRAMS</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/ranking/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">MORE RANKINGS</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/companies/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Fortune Company List</a></li></ul><li class="sc-1ff8631d-0 fQTwdH level-0 " data-cy="itemLink0" id="tab-12"><a href="https://fortune.com/analytics" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Analytics</a></li><li class="sc-1ff8631d-0 fQTwdH level-0 " data-cy="itemLink0" id="tab-13"><a href="https://fortune.com/newsletters/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Newsletters</a></li><li class="sc-1ff8631d-0 fQTwdH level-0 " data-cy="itemLink0" id="tab-14"><a href="https://fortune.com/magazine/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Magazine</a><button class="sc-1ff8631d-2 imMFPG arrow" type="button" data-cy="arrow-button"><span class="arrow"></span></button></li><ul class="sc-1ff8631d-1 ePLCMC submenu" data-cy="subMenuLevel0"><li class="sc-1ff8631d-0 fQTwdH submenu-head"><button class="sc-1ff8631d-2 imMFPG arrow right" type="button" data-cy="arrow-button"><span class="arrow"></span></button><a href="https://fortune.com/magazine/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Magazine</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/packages/february-march-2025/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">February/March 2025</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/packages/december-2024-january-2025/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">December 2024/January 2025</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/packages/october-november-2024/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">October/November 2024</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/packages/august-september-2024/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">August/September 2024</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/packages/june-july-2024/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">June/July 2024</a></li><li class="sc-1ff8631d-0 eVBxUw level-1 active" data-cy="itemLink1" id="tab-undefined"><a href="https://fortune.com/packages/april-may-2024/" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">April/May 2024</a></li></ul><li class="sc-1ff8631d-0 fQTwdH level-0 " data-cy="itemLink0" id="tab-15"><a href="https://fortune.com/conferences" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">Live Media</a></li><li class="sc-1ff8631d-0 fQTwdH level-0 " data-cy="itemLink0" id="tab-16"><a href="https://fortune.com/ceoi" target="_self" class="sc-19cc8fd2-0 kspHIT menu-link">CEO Initiative</a></li></ul></nav><div class="sc-bafb0ca3-2 kqGBoi"></div></div><div class="sc-bafb0ca3-7 iqCsYT overlay"></div><div class="sc-598c3945-2 dnBpwI"><main><div class="sc-3254b5f8-0 rsHZl"><div class="author-hero"><h1 class="sc-3358ecfd-0 sc-25d82a6f-1 fMbRpW kKpOzl">Bloomberg</h1><div class="sc-25d82a6f-0 hrXUrP"></div><div class="sc-25d82a6f-4 jOarcs"><ul class="social-list"></ul></div></div><div class="articles"></div><div class="infinite-scroll-button-spinner"></div><div class="sc-3254b5f8-1 IkGHl sidebar"><div class="sc-ae55e816-7 dEnIaI side-ad" data-cy="right-rail-ad"></div></div></div></main><footer class="sc-f19f6d8d-0 VSjGq"><nav data-cy="footer-navigation" class="sc-f19f6d8d-1 lmdIU"><div class="sc-f19f6d8d-3 hIkNXl rankings" data-cy="footer-navigation-link-wrapper"><div data-cy="footer-navigation-section-title" class="sc-f19f6d8d-4 hZBwau">Rankings</div><div class="sc-f19f6d8d-2 dybSZs"><ul class="sc-4ebe8201-0 fWvSQY"><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/ranking/best-companies/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to 100 Best Companies" class="sc-19cc8fd2-0 kspHIT">100 Best Companies</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/ranking/fortune500/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Fortune 500" class="sc-19cc8fd2-0 kspHIT">Fortune 500</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/ranking/global500/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Global 500" class="sc-19cc8fd2-0 kspHIT">Global 500</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/europe/ranking/fortune500-europe/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Fortune 500 Europe" class="sc-19cc8fd2-0 kspHIT">Fortune 500 Europe</a></li></ul><ul class="sc-4ebe8201-0 fWvSQY"><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/ranking/most-powerful-women/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Most Powerful Women" class="sc-19cc8fd2-0 kspHIT">Most Powerful Women</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/ranking/future-50/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Future 50" class="sc-19cc8fd2-0 kspHIT">Future 50</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/ranking/worlds-most-admired-companies/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to World’s Most Admired Companies" class="sc-19cc8fd2-0 kspHIT">World’s Most Admired Companies</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/ranking/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to See All Rankings" class="sc-19cc8fd2-0 kspHIT">See All Rankings</a></li></ul></div></div><div class="sc-f19f6d8d-3 hIkNXl sections" data-cy="footer-navigation-link-wrapper"><div data-cy="footer-navigation-section-title" class="sc-f19f6d8d-4 hZBwau">Sections</div><div class="sc-f19f6d8d-2 dybSZs"><ul class="sc-4ebe8201-0 fWvSQY"><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/section/finance/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Finance" class="sc-19cc8fd2-0 kspHIT">Finance</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/section/leadership/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Leadership" class="sc-19cc8fd2-0 kspHIT">Leadership</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/section/success/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Success" class="sc-19cc8fd2-0 kspHIT">Success</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/section/tech/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Tech" class="sc-19cc8fd2-0 kspHIT">Tech</a></li></ul><ul class="sc-4ebe8201-0 fWvSQY"><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/asia/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Asia" class="sc-19cc8fd2-0 kspHIT">Asia</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/europe/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Europe" class="sc-19cc8fd2-0 kspHIT">Europe</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/section/environment/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Environment" class="sc-19cc8fd2-0 kspHIT">Environment</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/crypto/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Fortune Crypto" class="sc-19cc8fd2-0 kspHIT">Fortune Crypto</a></li></ul><ul class="sc-4ebe8201-0 fWvSQY"><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/section/health/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Health" class="sc-19cc8fd2-0 kspHIT">Health</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/well/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Well" class="sc-19cc8fd2-0 kspHIT">Well</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/section/retail/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Retail" class="sc-19cc8fd2-0 kspHIT">Retail</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/section/lifestyle/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Lifestyle" class="sc-19cc8fd2-0 kspHIT">Lifestyle</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/section/politics/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Politics" class="sc-19cc8fd2-0 kspHIT">Politics</a></li></ul><ul class="sc-4ebe8201-0 fWvSQY"><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/section/newsletters/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Newsletters" class="sc-19cc8fd2-0 kspHIT">Newsletters</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/section/magazine/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Magazine" class="sc-19cc8fd2-0 kspHIT">Magazine</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/section/features/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Features" class="sc-19cc8fd2-0 kspHIT">Features</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/section/commentary/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Commentary" class="sc-19cc8fd2-0 kspHIT">Commentary</a></li></ul><ul class="sc-4ebe8201-0 fWvSQY"><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/section/mpw/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to MPW" class="sc-19cc8fd2-0 kspHIT">MPW</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/ceoi" target="_self" data-cy="footer-navigation-link" aria-label="footer link to CEO Initiative" class="sc-19cc8fd2-0 kspHIT">CEO Initiative</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/section/conferences/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Conferences" class="sc-19cc8fd2-0 kspHIT">Conferences</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/section/personal-finance/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Personal Finance" class="sc-19cc8fd2-0 kspHIT">Personal Finance</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/education/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Education" class="sc-19cc8fd2-0 kspHIT">Education</a></li></ul></div></div><div class="sc-f19f6d8d-3 hIkNXl customer" data-cy="footer-navigation-link-wrapper"><div data-cy="footer-navigation-section-title" class="sc-f19f6d8d-4 hZBwau">Customer Support</div><div class="sc-f19f6d8d-2 dybSZs"><ul class="sc-4ebe8201-0 fWvSQY"><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/customerservice/#faq" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Frequently Asked Questions" class="sc-19cc8fd2-0 kspHIT">Frequently Asked Questions</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/customerservice/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Customer Service Portal" class="sc-19cc8fd2-0 kspHIT">Customer Service Portal</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/privacy-policy/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Privacy Policy" class="sc-19cc8fd2-0 kspHIT">Privacy Policy</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/terms-of-use/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Terms of Use" class="sc-19cc8fd2-0 kspHIT">Terms of Use</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://order.emags.com/fortune_single_issues" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Single Issues for Purchase" class="sc-19cc8fd2-0 kspHIT">Single Issues for Purchase</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/international-print-magazine-only-subscribers/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to International Print" class="sc-19cc8fd2-0 kspHIT">International Print</a></li></ul></div></div><div class="sc-f19f6d8d-3 hIkNXl commercial" data-cy="footer-navigation-link-wrapper"><div data-cy="footer-navigation-section-title" class="sc-f19f6d8d-4 hZBwau">Commercial Services</div><div class="sc-f19f6d8d-2 dybSZs"><ul class="sc-4ebe8201-0 fWvSQY"><li class="sc-4ebe8201-1 iZowab"><a href="https://brand-studio.fortune.com/fortune-brand-studio/fbs-portfolio/?prx_t=Q4gFAAAAAAovEQA" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Fortune Brand Studio" class="sc-19cc8fd2-0 kspHIT">Fortune Brand Studio</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/analytics" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Fortune Analytics" class="sc-19cc8fd2-0 kspHIT">Fortune Analytics</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/conferences" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Fortune Conferences" class="sc-19cc8fd2-0 kspHIT">Fortune Conferences</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/advertising/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Advertising" class="sc-19cc8fd2-0 kspHIT">Advertising</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/business-development/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Business Development" class="sc-19cc8fd2-0 kspHIT">Business Development</a></li></ul></div></div><div class="sc-f19f6d8d-3 hIkNXl about" data-cy="footer-navigation-link-wrapper"><div data-cy="footer-navigation-section-title" class="sc-f19f6d8d-4 hZBwau">About Us</div><div class="sc-f19f6d8d-2 dybSZs"><ul class="sc-4ebe8201-0 fWvSQY"><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/about-us/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to About Us" class="sc-19cc8fd2-0 kspHIT">About Us</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/editorial-calendar/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Editorial Calendar" class="sc-19cc8fd2-0 kspHIT">Editorial Calendar</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/press-center/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Press Center" class="sc-19cc8fd2-0 kspHIT">Press Center</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://boards.greenhouse.io/fortune/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Work at Fortune" class="sc-19cc8fd2-0 kspHIT">Work at Fortune</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/workplace/diversity-inclusion" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Diversity and Inclusion" class="sc-19cc8fd2-0 kspHIT">Diversity and Inclusion</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/terms-of-use/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Terms and Conditions" class="sc-19cc8fd2-0 kspHIT">Terms and Conditions</a></li><li class="sc-4ebe8201-1 iZowab"><a href="https://fortune.com/sitemap/" target="_self" data-cy="footer-navigation-link" aria-label="footer link to Site Map" class="sc-19cc8fd2-0 kspHIT">Site Map</a></li></ul></div></div></nav><div class="sc-f19f6d8d-5 cEViLJ"><div data-cy="footer-disclaimer" class="sc-f19f6d8d-6 dWumMM"><p>© 2025 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our <a href="https://fortune.com/terms-of-use/" target="_self" aria-label="Go to https://fortune.com/terms-of-use/" class="sc-19cc8fd2-0 kspHIT">Terms of Use</a> and <a href="https://fortune.com/privacy-policy/" target="_self" aria-label="Go to https://fortune.com/privacy-policy/" class="sc-19cc8fd2-0 kspHIT">Privacy Policy</a> | <a href="https://fortune.com/california-privacy-policy/#notice" target="_self" aria-label="Go to /california-privacy-policy/#notice" class="sc-19cc8fd2-0 kspHIT">CA Notice at Collection and Privacy Notice</a> | <a href="javascript:Optanon.ToggleInfoDisplay();" target="_self" aria-label="Go to javascript:Optanon.ToggleInfoDisplay();" rel="noopener" class="sc-19cc8fd2-0 kspHIT">Do Not Sell/Share My Personal Information</a><br/> FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.</p></div><ul data-cy="social-list" class="sc-939609ec-0 iknoDJ"><li class="sc-939609ec-1 esXRgm"><a href="https://www.facebook.com/FortuneMagazine/" target="_self" data-cy="facebook-icon" aria-label="Go to our facebook profile" class="sc-19cc8fd2-0 kspHIT"><svg width="7" height="13" viewBox="0 0 7 13" fill="#666666" xmlns="http://www.w3.org/2000/svg"><path d="M4.78788 2.59186C4.54545 2.59186 4.30303 2.83428 4.30303 3.25852V4.59186H6.66667V6.59186H4.24242V12.5312H2V6.65246H0V4.65246H2V3.50095C2 1.80398 3.21212 0.53125 4.78788 0.53125H6.66667V2.59186H4.78788Z" fill=""></path></svg></a></li><li class="sc-939609ec-1 esXRgm"><a href="https://twitter.com/FortuneMagazine/" target="_self" data-cy="twitter-icon" aria-label="Go to our twitter profile" class="sc-19cc8fd2-0 kspHIT"><svg width="24" height="25" viewBox="0 0 24 25" fill="#666666" xmlns="http://www.w3.org/2000/svg"><path d="M18.901 1.68457H22.581L14.541 10.8746L24 23.3776H16.594L10.794 15.7936L4.156 23.3776H0.474L9.074 13.5476L0 1.68557H7.594L12.837 8.61757L18.901 1.68457ZM17.61 21.1756H19.649L6.486 3.77157H4.298L17.61 21.1756Z" fill=""></path></svg></a></li><li class="sc-939609ec-1 esXRgm"><a href="https://www.linkedin.com/company/fortune-magazine/" target="_self" data-cy="linkedin-icon" aria-label="Go to our linkedin profile" class="sc-19cc8fd2-0 kspHIT"><svg width="24" height="25" viewBox="0 0 24 25" fill="#666666" xmlns="http://www.w3.org/2000/svg"><path fill-rule="evenodd" clip-rule="evenodd" d="M3.51562 0.53125H20.4844C22.4227 0.53125 24 2.10852 24 4.04688V21.0156C24 22.954 22.4227 24.5312 20.4844 24.5312H3.51562C1.57727 24.5312 0 22.954 0 21.0156V4.04688C0 2.10852 1.57727 0.53125 3.51562 0.53125ZM5.67188 19.5625H8.48438V9.71875H5.67188V19.5625ZM8.48438 8.3125H5.67188V5.5H8.48438V8.3125ZM15.5156 19.5625H18.3281V13.4541C18.3281 11.4319 16.7199 9.72076 14.8125 9.71875C14.1595 9.71875 13.7281 9.87939 13.2557 10.0553C13.0815 10.1202 12.9017 10.1871 12.7031 10.2488V9.71875H9.89062V19.5625H12.7031V13.9375C12.7031 13.1622 13.3341 12.5312 14.1094 12.5312C14.8846 12.5312 15.5156 13.1622 15.5156 13.9375V19.5625Z" fill=""></path></svg></a></li><li class="sc-939609ec-1 esXRgm"><a href="https://www.instagram.com/fortunemag/" target="_self" data-cy="instagram-icon" aria-label="Go to our instagram profile" class="sc-19cc8fd2-0 kspHIT"><svg width="12" height="13" viewBox="0 0 12 13" fill="#666666" xmlns="http://www.w3.org/2000/svg"><path d="M11.9464 4.06696C11.9464 3.58482 11.8393 3.04911 11.6786 2.62054C11.5179 2.19196 11.3036 1.87054 10.9821 1.54911C10.6607 1.22768 10.3393 1.01339 9.91072 0.852679C9.42857 0.691964 8.94643 0.584821 8.46429 0.584821C7.82143 0.53125 7.60714 0.53125 6 0.53125C4.39286 0.53125 4.17857 0.53125 3.53571 0.584821C3.05357 0.584821 2.51786 0.691964 2.08929 0.852679C1.66071 1.01339 1.33929 1.22768 1.01786 1.54911C0.696429 1.87054 0.482143 2.19196 0.321429 2.62054C0.160714 3.10268 0.0535714 3.58482 0.0535714 4.06696C1.11759e-08 4.70982 0 4.92411 0 6.53125C0 8.13839 1.11759e-08 8.35268 0.0535714 8.99554C0.0535714 9.47768 0.160714 10.0134 0.321429 10.442C0.482143 10.8705 0.696429 11.192 1.01786 11.5134C1.33929 11.8348 1.66071 12.0491 2.08929 12.2098C2.57143 12.3705 3.05357 12.4777 3.53571 12.4777C4.17857 12.5313 4.39286 12.5313 6 12.5313C7.60714 12.5313 7.82143 12.5313 8.46429 12.4777C8.94643 12.4777 9.48214 12.3705 9.91072 12.2098C10.7143 11.8884 11.3571 11.2455 11.6786 10.442C11.8393 9.95982 11.9464 9.47768 11.9464 8.99554C12 8.35268 12 8.13839 12 6.53125C12 4.92411 11.9464 4.70982 11.9464 4.06696ZM10.875 8.99554C10.875 9.37054 10.8214 9.74554 10.6607 10.1205C10.4464 10.6563 10.0179 11.0848 9.53572 11.2455C9.16072 11.3527 8.78572 11.4598 8.41072 11.4598C7.76786 11.5134 7.60714 11.5134 5.94643 11.5134C4.28572 11.5134 4.125 11.5134 3.48214 11.4598C3.10714 11.4598 2.73214 11.4062 2.35714 11.2455C2.08929 11.1384 1.875 10.9777 1.66071 10.817C1.44643 10.6027 1.28571 10.3884 1.23214 10.1205C1.125 9.74554 1.01786 9.37054 1.01786 8.99554C0.964286 8.35268 0.964286 8.19196 0.964286 6.53125C0.964286 4.87054 0.964286 4.70982 1.01786 4.06696C1.01786 3.69196 1.07143 3.31696 1.23214 2.94196C1.33929 2.67411 1.5 2.45982 1.66071 2.24554C1.875 2.03125 2.08929 1.87054 2.35714 1.81696C2.73214 1.70982 3.10714 1.60268 3.48214 1.60268C4.125 1.54911 4.28572 1.54911 5.94643 1.54911C7.60714 1.54911 7.76786 1.54911 8.41072 1.60268C8.78572 1.60268 9.16072 1.65625 9.53572 1.81696C9.80357 1.92411 10.0179 2.08482 10.2321 2.24554C10.4464 2.45982 10.6071 2.67411 10.6607 2.94196C10.7679 3.31696 10.875 3.69196 10.875 4.06696C10.9286 4.70982 10.9286 4.87054 10.9286 6.53125C10.9286 8.19196 10.875 8.35268 10.875 8.99554ZM5.94643 3.42411C4.23214 3.42411 2.83929 4.81696 2.83929 6.53125C2.83929 8.24554 4.23214 9.63839 5.94643 9.63839C7.66072 9.63839 9.05357 8.24554 9.05357 6.53125C9.05357 4.81696 7.66072 3.42411 5.94643 3.42411ZM5.94643 8.56697C4.82143 8.56697 3.91071 7.65625 3.91071 6.53125C3.91071 5.40625 4.82143 4.49554 5.94643 4.49554C7.07143 4.49554 7.98214 5.40625 7.98214 6.53125C7.98214 7.65625 7.07143 8.56697 5.94643 8.56697ZM9.91072 3.31696C9.91072 3.69196 9.58929 4.06696 9.16072 4.06696C8.73214 4.06696 8.41072 3.74554 8.41072 3.31696C8.41072 2.88839 8.73214 2.56696 9.16072 2.56696C9.58929 2.56696 9.91072 2.88839 9.91072 3.31696Z" fill=""></path></svg></a></li><li class="sc-939609ec-1 esXRgm"><a href="https://www.pinterest.com/fortunemagazine/" target="_self" data-cy="pinterest-icon" aria-label="Go to our pinterest profile" class="sc-19cc8fd2-0 kspHIT"><svg width="10" height="13" viewBox="0 0 10 13" fill="#666666" xmlns="http://www.w3.org/2000/svg"><path d="M5.44765 9.23505C4.71716 9.17768 4.41042 8.81581 3.8378 8.46782C3.52281 10.12 3.13807 11.704 1.99809 12.5312C1.64559 10.0345 2.51445 8.15882 2.91794 6.16835C2.23021 5.01075 3.00044 2.68091 4.45167 3.25465C6.23589 3.96077 2.90557 7.55883 5.14166 8.00807C7.47524 8.47682 8.42848 3.95814 6.981 2.48817C4.88966 0.366451 0.892979 2.43942 1.38422 5.47762C1.50422 6.22085 2.27183 6.44623 1.69172 7.47146C0.352987 7.17446 -0.046756 6.11886 0.00424315 4.7115C0.0878668 2.40792 2.07421 0.795069 4.06805 0.571573C6.58876 0.289577 8.95422 1.49706 9.28122 3.86777C9.64871 6.54447 8.14348 9.4428 5.44803 9.23468L5.44765 9.23505Z" fill=""></path></svg></a></li></ul></div></footer></div><div class="sc-34036c4b-0 jLaGwN bottom-paywall-selector"></div></div></div><script id="__NEXT_DATA__" type="application/json">{"props":{"pageProps":{"allPostsArray":[{"authors":[{"email":"","image":"","name":"Anuradha Raghu","sameAs":"","type":"Person","uri":"/author/anuradha-raghu/","url":"https://fortune.com/author/anuradha-raghu/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"},{"email":"","image":"","name":"Nguyen Dieu Tu Uyen","sameAs":"","type":"Person","uri":"/author/nguyen-dieu-tu-uyen/","url":"https://fortune.com/author/nguyen-dieu-tu-uyen/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"},{"email":"","image":"","name":"Maddie Parker","sameAs":"","type":"Person","uri":"/author/maddie-parker/","url":"https://fortune.com/author/maddie-parker/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"},{"email":"","image":"","name":"Bloomberg","sameAs":"","type":"Person","uri":"/author/bloomberg/","url":"https://fortune.com/author/bloomberg/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"}],"contentType":null,"date":"2025-04-03T21:59:57","dateFormatted":"April 3, 2025","excerpt":"","eyebrowSectionLabel":"Retail","eyebrowSectionLink":"/section/retail/","eyebrowTagLabel":"","eyebrowTagLink":"","image":{"altText":"Closeup image of a man and a woman clinking white coffee mugs in cafe","caption":"\u003cp\u003eCloseup image of a man and a woman clinking white coffee mugs in cafe\u003c/p\u003e\n","mediaItemUrl":"https://fortune.com/img-assets/wp-content/uploads/2025/04/GettyImages-1859646927-e1743717518340.jpg?resize=1200,600","__typename":"MediaItem"},"key":"U.S. coffee drinkers face pricier cup as tariffs hit key supplier","platformCD":"own","title":"U.S. coffee drinkers face pricier cup as tariffs hit key supplier","titleLink":"/2025/04/03/coffee-drinkers-face-pricier-cup-as-tariffs-hit-key-supplier/"},{"authors":[{"email":"","image":"","name":"Nathan Risser","sameAs":"","type":"Person","uri":"/author/nathan-risser/","url":"https://fortune.com/author/nathan-risser/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"},{"email":"","image":"","name":"Bloomberg","sameAs":"","type":"Person","uri":"/author/bloomberg/","url":"https://fortune.com/author/bloomberg/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"}],"contentType":null,"date":"2025-04-03T21:46:12","dateFormatted":"April 3, 2025","excerpt":"","eyebrowSectionLabel":"Retail","eyebrowSectionLink":"/section/retail/","eyebrowTagLabel":"","eyebrowTagLink":"","image":{"altText":"A driver refuels their vehicle at a BP gas station in Detroit, Michigan, US, on Thursday, Sept. 19, 2024.","caption":"\u003cp\u003eA driver refuels their vehicle at a BP gas station in Detroit, Michigan, US, on Thursday, Sept. 19, 2024. Steadily falling gasoline prices are providing a tailwind for US Vice President Kamala Harris\u0026#8217; campaign for the nation\u0026#8217;s highest office as Donald Trump seeks to rile inflation-weary consumers by attacking her record on energy. Photographer: Emily Elconin/Bloomberg via Getty Images\u003c/p\u003e\n","mediaItemUrl":"https://fortune.com/img-assets/wp-content/uploads/2025/04/GettyImages-2172380932-e1743716606250.jpg?resize=1200,600","__typename":"MediaItem"},"key":"Trump’s $3 gasoline dream is still far off for American drivers","platformCD":"own","title":"Trump’s $3 gasoline dream is still far off for American drivers","titleLink":"/2025/04/03/trump-gas-prices-far-off/"},{"authors":[{"email":"","image":"","name":"Alex Tanzi","sameAs":"","type":"Person","uri":"/author/alex-tanzi/","url":"https://fortune.com/author/alex-tanzi/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"},{"email":"","image":"","name":"Rafael Gayol","sameAs":"","type":"Person","uri":"/author/rafael-gayol/","url":"https://fortune.com/author/rafael-gayol/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"},{"email":"","image":"","name":"Bloomberg","sameAs":"","type":"Person","uri":"/author/bloomberg/","url":"https://fortune.com/author/bloomberg/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"}],"contentType":null,"date":"2025-04-03T18:19:28","dateFormatted":"April 3, 2025","excerpt":"","eyebrowSectionLabel":"Politics","eyebrowSectionLink":"/section/politics/","eyebrowTagLabel":"","eyebrowTagLink":"","image":{"altText":"","caption":"\u003cp\u003eWASHINGTON, DC \u0026#8211; APRIL 02: U.S. President Donald Trump holds up a chart while speaking during a “Make America Wealthy Again” trade announcement event in the Rose Garden at the White House on April 2, 2025 in Washington, DC. Touting the event as “Liberation Day”, Trump is expected to announce additional tariffs targeting goods imported to the U.S. (Photo by Chip Somodevilla/Getty Images)\u003c/p\u003e\n","mediaItemUrl":"https://fortune.com/img-assets/wp-content/uploads/2025/04/GettyImages-2208185431.jpg?resize=1200,600","__typename":"MediaItem"},"key":"Here are Trump’s reciprocal tariffs by country","platformCD":"own","title":"Here are Trump’s reciprocal tariffs by country","titleLink":"/2025/04/03/trump-reciprocal-tariffs-rate-country-china-canada-mexico-white-house/"},{"authors":[{"email":"","image":"","name":"Carmen Reinicke","sameAs":"","type":"Person","uri":"/author/carmen-reinicke/","url":"https://fortune.com/author/carmen-reinicke/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"},{"email":"","image":"","name":"Bloomberg","sameAs":"","type":"Person","uri":"/author/bloomberg/","url":"https://fortune.com/author/bloomberg/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"}],"contentType":null,"date":"2025-04-03T17:02:17","dateFormatted":"April 3, 2025","excerpt":"","eyebrowSectionLabel":"Finance","eyebrowSectionLink":"/section/finance/","eyebrowTagLabel":"","eyebrowTagLink":"","image":{"altText":"","caption":"\u003cp\u003eWASHINGTON, DC \u0026#8211; MARCH 31: U.S. President Donald Trump speaks before signing an executive order in the Oval Office of the White House on March 31, 2025 in Washington, DC. Trump has signed an executive order against ticket scalping and reforming the live entertainment ticket industry. (Photo by Andrew Harnik/Getty Images)\u003c/p\u003e\n","mediaItemUrl":"https://fortune.com/img-assets/wp-content/uploads/2025/04/GettyImages-2207855781-1.jpg?resize=1200,600","__typename":"MediaItem"},"key":"Trump’s second term brings worst stock market start since 2001","platformCD":"own","title":"Trump’s second term brings worst stock market start since 2001","titleLink":"/2025/04/03/trump-stock-market-2001-tariffs-economy-wall-street-equities/"},{"authors":[{"email":"","image":"","name":"Christopher Anstey","sameAs":"","type":"Person","uri":"/author/christopher-anstey/","url":"https://fortune.com/author/christopher-anstey/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"},{"email":"","image":"","name":"Bloomberg","sameAs":"","type":"Person","uri":"/author/bloomberg/","url":"https://fortune.com/author/bloomberg/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"}],"contentType":null,"date":"2025-04-02T21:19:04","dateFormatted":"April 2, 2025","excerpt":"","eyebrowSectionLabel":"Politics","eyebrowSectionLink":"/section/politics/","eyebrowTagLabel":"","eyebrowTagLink":"","image":{"altText":"","caption":"\u003cp\u003eLawrence Summers, president emeritus and professor at Harvard University, during a panel session on the closing day of the World Economic Forum (WEF) in Davos, Switzerland, on Friday, Jan. 20, 2023. The annual Davos gathering of political leaders, top executives and celebrities runs from January 16 to 20. Photographer: Stefan Wermuth/Bloomberg via Getty Images\u003c/p\u003e\n","mediaItemUrl":"https://fortune.com/img-assets/wp-content/uploads/2025/04/GettyImages-1246380490.jpg?resize=1200,600","__typename":"MediaItem"},"key":"Summers blasts Trump threat to Harvard funds as ‘authoritarian’","platformCD":"own","title":"Summers blasts Trump threat to Harvard funds as ‘authoritarian’","titleLink":"/2025/04/02/larry-summers-trump-harvard-university-funds-authoritarian/"},{"authors":[{"email":"","image":"","name":"Nicola M. White","sameAs":"","type":"Person","uri":"/author/nicola-m-white/","url":"https://fortune.com/author/nicola-m-white/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"},{"email":"","image":"","name":"Jeannette Neumann","sameAs":"","type":"Person","uri":"/author/jeannette-neumann/","url":"https://fortune.com/author/jeannette-neumann/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"},{"email":"","image":"","name":"Bloomberg","sameAs":"","type":"Person","uri":"/author/bloomberg/","url":"https://fortune.com/author/bloomberg/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"}],"contentType":null,"date":"2025-04-02T16:55:08","dateFormatted":"April 2, 2025","excerpt":"","eyebrowSectionLabel":"Finance","eyebrowSectionLink":"/section/finance/","eyebrowTagLabel":"","eyebrowTagLink":"","image":{"altText":"Macy's flagship Manhattan store","caption":"\u003cp\u003eMacy\u0026#8217;s store is seen in Manhattan, New York, United States of America, on July 5th, 2024.\u003cbr /\u003e\n (Photo by Beata Zawrzel/NurPhoto via Getty Images)\u003c/p\u003e\n","mediaItemUrl":"https://fortune.com/img-assets/wp-content/uploads/2025/04/GettyImages-2160135034.jpg?resize=1200,600","__typename":"MediaItem"},"key":"Macy’s to claw back executive bonuses due to accounting scandal","platformCD":"own","title":"Macy’s to claw back executive bonuses due to accounting scandal","titleLink":"/2025/04/02/macys-executive-bonuses-compensation-accounting-scandal-sec/"},{"authors":[{"email":"","image":"","name":"William Wilkes","sameAs":"","type":"Person","uri":"/author/william-wilkes/","url":"https://fortune.com/author/william-wilkes/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"},{"email":"","image":"","name":"Bloomberg","sameAs":"","type":"Person","uri":"/author/bloomberg/","url":"https://fortune.com/author/bloomberg/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"}],"contentType":null,"date":"2025-04-02T09:35:47","dateFormatted":"April 2, 2025","excerpt":"","eyebrowSectionLabel":"Retail","eyebrowSectionLink":"/europe/retail/","eyebrowTagLabel":"","eyebrowTagLink":"","image":{"altText":"","caption":"\u003cp\u003eA Mercedes-Benz GLA 220 4Matic sport utility vehicle (SUV), produced by Mercedes-Benz AG, stands on display ahead of the 87th Geneva International Motor Show in Geneva, Switzerland, on Monday, March 6, 2017. The show opens to the public on March 9, and will showcase the latest models from the world\u0026#8217;s top automakers. Photographer: Luke Macgregor/Bloomberg via Getty Images\u003c/p\u003e\n","mediaItemUrl":"https://fortune.com/img-assets/wp-content/uploads/2025/04/GettyImages-648654404-e1743583683540.jpg?resize=1200,600","__typename":"MediaItem"},"key":"Mercedes weighs pulling U.S. entry-level cars over tariffs","platformCD":"own","title":"Mercedes weighs pulling U.S. entry-level cars over tariffs","titleLink":"/europe/2025/04/02/mercedes-pulling-us-entry-level-cars-over-tariffs-trump-sales/"},{"authors":[{"email":"","image":"","name":"Bloomberg","sameAs":"","type":"Person","uri":"/author/bloomberg/","url":"https://fortune.com/author/bloomberg/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"}],"contentType":null,"date":"2025-04-02T05:24:35","dateFormatted":"April 2, 2025","excerpt":"","eyebrowSectionLabel":"Politics","eyebrowSectionLink":"/asia/politics/","eyebrowTagLabel":"","eyebrowTagLink":"","image":{"altText":"","caption":"\u003cp\u003eIn this pool photograph distributed by the Russian state agency Sputnik, Chinese Foreign Minister Wang Yi attends a meeting with Russia\u0026#8217;s President at the Kremlin in Moscow on April 1, 2025. (Photo by Grigory SYSOYEV / POOL / AFP) (Photo by GRIGORY SYSOYEV/POOL/AFP via Getty Images)\u003c/p\u003e\n","mediaItemUrl":"https://fortune.com/img-assets/wp-content/uploads/2025/04/GettyImages-2207437734-e1743568554146.jpg?resize=1200,600","__typename":"MediaItem"},"key":"China ties U.S. talks to tariff removal as stalemate deepens","platformCD":"own","title":"China ties U.S. talks to tariff removal as stalemate deepens","titleLink":"/asia/2025/04/02/china-ties-us-talks-tariff-removal-stalemate-deepens/"},{"authors":[{"email":"","image":"","name":"Ben Westcott","sameAs":"","type":"Person","uri":"/author/ben-westcott/","url":"https://fortune.com/author/ben-westcott/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"},{"email":"","image":"","name":"Bloomberg","sameAs":"","type":"Person","uri":"/author/bloomberg/","url":"https://fortune.com/author/bloomberg/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"}],"contentType":null,"date":"2025-04-02T04:05:17","dateFormatted":"April 2, 2025","excerpt":"","eyebrowSectionLabel":"Politics","eyebrowSectionLink":"/asia/politics/","eyebrowTagLabel":"","eyebrowTagLink":"","image":{"altText":"","caption":"\u003cp\u003eAustralia\u0026#8217;s Foreign Minister Penny Wong arrives ahead of the G20 Foreign Minister Meeting at the Nasrec Expo Centre in Johannesburg on February 20, 2025. Top diplomats from the Group of 20 major economies will convene in South Africa on February 20, 2025 for a meeting dominated by a packed global agenda but overshadowed by a snub by the top US envoy.\u003cbr /\u003e\nAs a curtain-raiser to the G20 summit in November, the foreign ministers will gather for talks over two days, held for the first time in Africa. (Photo by PHILL MAGAKOE / AFP) (Photo by PHILL MAGAKOE/AFP via Getty Images)\u003c/p\u003e\n","mediaItemUrl":"https://fortune.com/img-assets/wp-content/uploads/2025/04/GettyImages-2200001026-e1743566346590.jpg?resize=1200,600","__typename":"MediaItem"},"key":"Australia urges universities to diversify research away from U.S.","platformCD":"own","title":"Australia urges universities to diversify research away from U.S.","titleLink":"/asia/2025/04/02/australia-urges-universities-diversify-research-away-from-us/"},{"authors":[{"email":"","image":"","name":"David Welch","sameAs":"","type":"Person","uri":"/author/david-welch/","url":"https://fortune.com/author/david-welch/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"},{"email":"","image":"","name":"Keith Naughton","sameAs":"","type":"Person","uri":"/author/keith-naughton/","url":"https://fortune.com/author/keith-naughton/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"},{"email":"","image":"","name":"Gabrielle Coppola","sameAs":"","type":"Person","uri":"/author/gabrielle-coppola/","url":"https://fortune.com/author/gabrielle-coppola/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"},{"email":"","image":"","name":"Bloomberg","sameAs":"","type":"Person","uri":"/author/bloomberg/","url":"https://fortune.com/author/bloomberg/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"}],"contentType":null,"date":"2025-04-01T21:24:44","dateFormatted":"April 1, 2025","excerpt":"","eyebrowSectionLabel":"Politics","eyebrowSectionLink":"/section/politics/","eyebrowTagLabel":"","eyebrowTagLink":"","image":{"altText":"Happy salesman showing cars to a couple at the dealership","caption":"\u003cp\u003eHappy salesman showing cars to a couple at the dealership \u0026#8211; car ownership concepts\u003c/p\u003e\n","mediaItemUrl":"https://fortune.com/img-assets/wp-content/uploads/2025/04/GettyImages-1473399467-e1743542589364.jpg?resize=1200,600","__typename":"MediaItem"},"key":"GM, Hyundai sales jump as Trump tariff fears spur car buying","platformCD":"own","title":"GM, Hyundai sales jump as Trump tariff fears spur car buying","titleLink":"/2025/04/01/gm-hyundai-sales-jump-as-trump-tariff-fears-spur-car-buying/"},{"authors":[{"email":"","image":"","name":"Ilena Peng","sameAs":"","type":"Person","uri":"/author/ilena-peng/","url":"https://fortune.com/author/ilena-peng/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"},{"email":"","image":"","name":"Bloomberg","sameAs":"","type":"Person","uri":"/author/bloomberg/","url":"https://fortune.com/author/bloomberg/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"}],"contentType":null,"date":"2025-04-01T17:24:20","dateFormatted":"April 1, 2025","excerpt":"","eyebrowSectionLabel":"Politics","eyebrowSectionLink":"/section/politics/","eyebrowTagLabel":"","eyebrowTagLink":"","image":{"altText":"A dairy cow chewing grass in a field","caption":"\u003cp\u003eA dairy cow chewing grass in a field\u003c/p\u003e\n","mediaItemUrl":"https://fortune.com/img-assets/wp-content/uploads/2025/04/GettyImages-157204335-e1743528096472.jpg?resize=1200,600","__typename":"MediaItem"},"key":"Trump tariffs threaten $8.2 billion American dairy exports","platformCD":"own","title":"Trump tariffs threaten $8.2 billion American dairy exports","titleLink":"/2025/04/01/trump-tariffs-threaten-8-2-billion-dollar-american-dairy-exports/"},{"authors":[{"email":"","image":"","name":"Tim Loh","sameAs":"","type":"Person","uri":"/author/tim-loh/","url":"https://fortune.com/author/tim-loh/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"},{"email":"","image":"","name":"Bloomberg","sameAs":"","type":"Person","uri":"/author/bloomberg/","url":"https://fortune.com/author/bloomberg/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"}],"contentType":null,"date":"2025-04-01T11:31:00","dateFormatted":"April 1, 2025","excerpt":"","eyebrowSectionLabel":"Retail","eyebrowSectionLink":"/europe/retail/","eyebrowTagLabel":"","eyebrowTagLink":"","image":{"altText":"","caption":"\u003cp\u003eNEW YORK, NEW YORK \u0026#8211; NOVEMBER 03: Detail of the On running shoes worn by Hellen Obiri of Kenya after her second place finish in the Professional Women’s Open Division during the 2024 TCS New York City Marathon on November 03, 2024 in New York City. (Photo by Sarah Stier/Getty Images)\u003c/p\u003e\n","mediaItemUrl":"https://fortune.com/img-assets/wp-content/uploads/2025/04/GettyImages-2182688825-e1743506649732.jpg?resize=1200,600","__typename":"MediaItem"},"key":"Swiss shoemaker On trims leadership with Hoffmann as sole CEO","platformCD":"own","title":"Swiss shoemaker On trims leadership with Hoffmann as sole CEO","titleLink":"/europe/2025/04/01/swiss-shoemaker-on-holding-running-ceo-martin-hoffmann-sports-leadership/"},{"authors":[{"email":"","image":"","name":"Kate Duffy","sameAs":"","type":"Person","uri":"/author/kate-duffy/","url":"https://fortune.com/author/kate-duffy/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"},{"email":"","image":"","name":"Nick Bartlett","sameAs":"","type":"Person","uri":"/author/nick-bartlett/","url":"https://fortune.com/author/nick-bartlett/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"},{"email":"","image":"","name":"Bloomberg","sameAs":"","type":"Person","uri":"/author/bloomberg/","url":"https://fortune.com/author/bloomberg/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"}],"contentType":null,"date":"2025-04-01T09:25:15","dateFormatted":"April 1, 2025","excerpt":"","eyebrowSectionLabel":"Retail","eyebrowSectionLink":"/europe/retail/","eyebrowTagLabel":"","eyebrowTagLink":"","image":{"altText":"","caption":"\u003cp\u003eKenton Jarvis, chief executive officer of EasyJet Plc, following a Bloomberg Television interview at London Southend Airport, in Southend-on-Sea, UK, on Monday, March 31, 2025. The carrier plans to base three aircraft at Southend and operate seven package holiday destinations from there. Photographer: Chris Ratcliffe/Bloomberg via Getty Images\u003c/p\u003e\n","mediaItemUrl":"https://fortune.com/img-assets/wp-content/uploads/2025/04/GettyImages-2207285348-e1743498821134.jpg?resize=1200,600","__typename":"MediaItem"},"key":"EasyJet studies loyalty program after Ryanair starts new plan","platformCD":"own","title":"EasyJet studies loyalty program after Ryanair starts new plan","titleLink":"/europe/2025/04/01/easyjet-loyalty-program-ryanair-subscription-airlines-british-airways/"},{"authors":[{"email":"","image":"","name":"Charles Daly","sameAs":"","type":"Person","uri":"/author/charles-daly/","url":"https://fortune.com/author/charles-daly/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"},{"email":"","image":"","name":"Bloomberg","sameAs":"","type":"Person","uri":"/author/bloomberg/","url":"https://fortune.com/author/bloomberg/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"}],"contentType":null,"date":"2025-04-01T09:22:53","dateFormatted":"April 1, 2025","excerpt":"","eyebrowSectionLabel":"Finance","eyebrowSectionLink":"/europe/finance/","eyebrowTagLabel":"","eyebrowTagLink":"","image":{"altText":"","caption":"\u003cp\u003eLOHE-RICKELSHOF, GERMANY \u0026#8211; MARCH 25: Two employees in bright yellow jackets are walking at the ground-breaking for the new Northvolt Gigafactory electric car battery factory on March 25, 2024 in Lohe-Rickelshof, Germany. The factory, dubbed Northvolt Drei, will be powered by renewable energy and will eventually produce one million electric car batteries per year. (Photo by Gregor Fischer/Getty Images)\u003c/p\u003e\n","mediaItemUrl":"https://fortune.com/img-assets/wp-content/uploads/2025/04/GettyImages-2105321682-e1743498002303.jpg?resize=1200,600","__typename":"MediaItem"},"key":"Northvolt cuts workforce to 1,700 as part of bankruptcy process","platformCD":"own","title":"Northvolt cuts workforce to 1,700 as part of bankruptcy process","titleLink":"/europe/2025/04/01/northvolt-cuts-workforce-1700-part-bankruptcy-process/"},{"authors":[{"email":"","image":"","name":"Shirin Ghaffary","sameAs":"","type":"Person","uri":"/author/shirin-ghaffary/","url":"https://fortune.com/author/shirin-ghaffary/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"},{"email":"","image":"","name":"Bloomberg","sameAs":"","type":"Person","uri":"/author/bloomberg/","url":"https://fortune.com/author/bloomberg/","role":"","funFactHeader":"","funFactValue":"","social":{"instaUrl":"","linkedinUrl":"","twitterUrl":"","__typename":"AuthorSocialUrlsFields"},"shortIntro":"","__typename":"Co-authors"}],"contentType":null,"date":"2025-04-01T08:36:54","dateFormatted":"April 1, 2025","excerpt":"","eyebrowSectionLabel":"Tech","eyebrowSectionLink":"/section/tech/","eyebrowTagLabel":"","eyebrowTagLink":"","image":{"altText":"","caption":"\u003cp\u003eTOKYO, JAPAN \u0026#8211; FEBRUARY 3: OpenAI CEO Sam Altman speaks during a talk session with SoftBank Group CEO Masayoshi Son at an event titled \u0026#8220;Transforming Business through AI\u0026#8221; in Tokyo, Japan, on February 03, 2025. SoftBank and OpenAI announced that they have agreed a partnership to set up a joint venture for artificial intelligence services in Japan today. (Photo by Tomohiro Ohsumi/Getty Images)\u003c/p\u003e\n","mediaItemUrl":"https://fortune.com/img-assets/wp-content/uploads/2025/04/GettyImages-2197366908-e1743496495840.jpg?resize=1200,600","__typename":"MediaItem"},"key":"OpenAI finalizes $40 billion funding at $300 billion value","platformCD":"own","title":"OpenAI finalizes $40 billion funding at $300 billion value","titleLink":"/2025/04/01/openai-finalizes-40-billion-funding-at-300-billion-value/"}],"arcSpanPageConfig":{"LoginStatus":false,"classifications_watson":{"categories":"$alchemy_taxonomy","concepts":"$alchemy_concepts","keywords":"$alchemy_keywords"},"contentAuthors":[],"contentPublishDate":null,"contentSection":"","contentTags":[],"dayOfWeek":"Thursday","pageType":"author","title":"Bloomberg"},"author":{"adTags":[],"authorNames":[],"authorSlug":"bloomberg","authorUrl":"https://fortune.com/author/bloomberg/","authors":[],"avatarUrl":"","canonicalUrl":"https://fortune.com/author/bloomberg/","channel":"","databaseId":"2107029","dateGmt":"","description":"","displayEmail":"","displayName":"Bloomberg","faq":[],"image":"","instaHandle":"","instaUrl":"","keywords":"","link":"https://fortune.com/author/bloomberg/","linkedinHandle":"","linkedinUrl":"","metaTitle":"Bloomberg","modifiedGmt":"","pageType":"author","platformCD":"own","premiumCategory":{"name":"","premiumCategoryId":-1},"primarySection":{"link":"","name":"","primaryPostTagId":0,"uri":""},"sameAs":[],"sectionNames":[],"sections":[],"socialDescription":"","socialTitle":"","tagNames":[],"tags":[],"thumbnailUrl":"","title":"Bloomberg","topicNames":[],"topics":[],"twitterHandle":"","twitterUrl":"","url":"https://fortune.com/author/bloomberg/"},"authorPageInfo":{"endCursor":"YXJyYXljb25uZWN0aW9uOjQxODg3MTQ=","hasNextPage":false,"hasPreviousPage":false,"startCursor":"YXJyYXljb25uZWN0aW9uOjQxOTI1MjI=","totalCount":13564,"__typename":"WPPageInfo"},"dataLayer":{"pageTypeCG":"post","platformCD":"own","categoryCG":"author","cmsCategoryCD":"author","conTitleCD":"https://fortune.com/author/bloomberg/"},"footer":{"footerDisclaimer":"\u003cp\u003e© 2025 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our \u003ca href=\"https://fortune.com/terms-of-use/\"\u003eTerms of Use\u003c/a\u003e and \u003ca href=\"https://fortune.com/privacy-policy/\"\u003ePrivacy Policy\u003c/a\u003e | \u003ca href=\"/california-privacy-policy/#notice\"\u003eCA Notice at Collection and Privacy Notice\u003c/a\u003e | \u003ca href=\"javascript:Optanon.ToggleInfoDisplay();\" target=\"_self\"\u003eDo Not Sell/Share My Personal Information\u003c/a\u003e\u003cbr /\u003e\nFORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.\u003c/p\u003e\n","footerNav":[{"links":[{"__typename":"MenuItem","label":"100 Best Companies","url":"https://fortune.com/ranking/best-companies/"},{"__typename":"MenuItem","label":"Fortune 500","url":"https://fortune.com/ranking/fortune500/"},{"__typename":"MenuItem","label":"Global 500","url":"https://fortune.com/ranking/global500/"},{"__typename":"MenuItem","label":"Fortune 500 Europe","url":"https://fortune.com/europe/ranking/fortune500-europe/"}],"name":"Footer Rankings 1"},{"links":[{"__typename":"MenuItem","label":"Most Powerful Women","url":"https://fortune.com/ranking/most-powerful-women/"},{"__typename":"MenuItem","label":"Future 50","url":"https://fortune.com/ranking/future-50/"},{"__typename":"MenuItem","label":"World’s Most Admired Companies","url":"https://fortune.com/ranking/worlds-most-admired-companies/"},{"__typename":"MenuItem","label":"See All Rankings","url":"https://fortune.com/ranking/"}],"name":"Footer Rankings 2"},{"links":[{"__typename":"MenuItem","label":"Finance","url":"/section/finance/"},{"__typename":"MenuItem","label":"Leadership","url":"/section/leadership/"},{"__typename":"MenuItem","label":"Success","url":"/section/success/"},{"__typename":"MenuItem","label":"Tech","url":"/section/tech/"}],"name":"Footer Sections 1"},{"links":[{"__typename":"MenuItem","label":"Asia","url":"https://fortune.com/asia/"},{"__typename":"MenuItem","label":"Europe","url":"/europe/"},{"__typename":"MenuItem","label":"Environment","url":"/section/environment/"},{"__typename":"MenuItem","label":"Fortune Crypto","url":"https://fortune.com/crypto/"}],"name":"Footer Sections 2"},{"links":[{"__typename":"MenuItem","label":"Health","url":"/section/health/"},{"__typename":"MenuItem","label":"Well","url":"https://fortune.com/well/"},{"__typename":"MenuItem","label":"Retail","url":"/section/retail/"},{"__typename":"MenuItem","label":"Lifestyle","url":"/section/lifestyle/"},{"__typename":"MenuItem","label":"Politics","url":"/section/politics/"}],"name":"Footer Sections 3"},{"links":[{"__typename":"MenuItem","label":"Newsletters","url":"/section/newsletters/"},{"__typename":"MenuItem","label":"Magazine","url":"/section/magazine/"},{"__typename":"MenuItem","label":"Features","url":"/section/features/"},{"__typename":"MenuItem","label":"Commentary","url":"/section/commentary/"}],"name":"Footer Sections 4"},{"links":[{"__typename":"MenuItem","label":"MPW","url":"/section/mpw/"},{"__typename":"MenuItem","label":"CEO Initiative","url":"https://fortune.com/ceoi"},{"__typename":"MenuItem","label":"Conferences","url":"/section/conferences/"},{"__typename":"MenuItem","label":"Personal Finance","url":"/section/personal-finance/"},{"__typename":"MenuItem","label":"Education","url":"https://fortune.com/education/"}],"name":"Footer Sections 5"},{"links":[{"__typename":"MenuItem","label":"Frequently Asked Questions","url":"https://fortune.com/customerservice/#faq"},{"__typename":"MenuItem","label":"Customer Service Portal","url":"https://fortune.com/customerservice/"},{"__typename":"MenuItem","label":"Privacy Policy","url":"/privacy-policy/"},{"__typename":"MenuItem","label":"Terms of Use","url":"https://fortune.com/terms-of-use/"},{"__typename":"MenuItem","label":"Single Issues for Purchase","url":"https://order.emags.com/fortune_single_issues"},{"__typename":"MenuItem","label":"International Print","url":"https://fortune.com/international-print-magazine-only-subscribers/"}],"name":"Footer Customer Support 1"},{"links":[{"__typename":"MenuItem","label":"Fortune Brand Studio","url":"https://brand-studio.fortune.com/fortune-brand-studio/fbs-portfolio/?prx_t=Q4gFAAAAAAovEQA"},{"__typename":"MenuItem","label":"Fortune Analytics","url":"https://fortune.com/analytics"},{"__typename":"MenuItem","label":"Fortune Conferences","url":"https://fortune.com/conferences"},{"__typename":"MenuItem","label":"Advertising","url":"https://fortune.com/advertising/"},{"__typename":"MenuItem","label":"Business Development","url":"https://fortune.com/business-development/"}],"name":"Footer Commercial Services 1"},{"links":[{"__typename":"MenuItem","label":"About Us","url":"/about-us/"},{"__typename":"MenuItem","label":"Editorial Calendar","url":"https://fortune.com/editorial-calendar/"},{"__typename":"MenuItem","label":"Press Center","url":"https://fortune.com/press-center/"},{"__typename":"MenuItem","label":"Work at Fortune","url":"https://boards.greenhouse.io/fortune/"},{"__typename":"MenuItem","label":"Diversity and Inclusion","url":"https://fortune.com/workplace/diversity-inclusion"},{"__typename":"MenuItem","label":"Terms and Conditions","url":"/terms-of-use/"},{"__typename":"MenuItem","label":"Site Map","url":"/sitemap/"}],"name":"Footer About 1"}],"socialList":[{"type":"facebook","url":"https://www.facebook.com/FortuneMagazine/"},{"type":"twitter","url":"https://twitter.com/FortuneMagazine/"},{"type":"linkedin","url":"https://www.linkedin.com/company/fortune-magazine/"},{"type":"instagram","url":"https://www.instagram.com/fortunemag/"},{"type":"pinterest","url":"https://www.pinterest.com/fortunemagazine/"}]},"headData":{"authors":"","canonicalUrl":null,"databaseId":"2107029","dateGmt":null,"description":"","faqSchema":"","hasStnVideo":false,"image":"","imageTwitter":"","jsonLdSchema":"{\"@type\":\"ProfilePage\",\"@context\":[\"https://schema.org\"],\"publisher\":{\"@type\":\"NewsMediaOrganization\",\"address\":{\"@type\":\"PostalAddress\",\"addressCountry\":{\"@type\":\"Country\",\"name\":\"US\"},\"addressLocality\":\"New York\",\"addressRegion\":\"NY\",\"postalCode\":\"10038\",\"streetAddress\":\"40 Fulton Street\"},\"brand\":{\"@type\":\"Brand\",\"name\":\"Fortune\"},\"founder\":{\"@type\":\"Person\",\"name\":\"Henry Robinson Luce\"},\"foundingDate\":\"1929-02\",\"legalName\":\"Fortune Media (USA) Corporation\",\"logo\":{\"@type\":\"ImageObject\",\"url\":\"https://fortune.com/static/media/logo.png\"},\"name\":\"Fortune\",\"publishingPrinciples\":\"https://fortune.com/about-us/\",\"sameAs\":[\"https://en.wikipedia.org/wiki/Fortune_(magazine)\",\"https://www.facebook.com/FortuneMagazine/\",\"https://www.linkedin.com/company/fortune-magazine/\",\"https://www.instagram.com/fortunemag/\",\"https://www.pinterest.com/fortunemagazine/\",\"https://twitter.com/FortuneMagazine/\"],\"url\":\"https://fortune.com/\"},\"@id\":\"https://fortune.com/author/bloomberg/\",\"mainEntity\":{\"@type\":\"Person\",\"name\":\"Bloomberg\",\"url\":\"https://fortune.com/author/bloomberg/\"}}","keywords":"","link":"https://fortune.com/author/bloomberg/","noIndex":null,"pageType":"author","prefixedDatabaseId":null,"premiumCategory":"","primarySection":"","rssFeedLink":null,"siteName":"Fortune","socialDescription":"","socialTitle":"Bloomberg","tagNames":[],"title":"Bloomberg | Fortune","widgetCss":null},"headerNav":{"domainLogo":null,"leftMenu":[{"id":"cG9zdDo0MTcyNzMx","label":"Home","subMenu":null,"url":"/"},{"id":"cG9zdDozNTcxNTEz","label":"Sections","subMenu":[{"id":"cG9zdDozNTcxNTE0","label":"FORTUNE 500","subMenu":null,"url":"/ranking/fortune500/"},{"id":"cG9zdDozNTcxNTE1","label":"News","subMenu":null,"url":"/the-latest/"},{"id":"cG9zdDozNzE2NjA4","label":"Europe","subMenu":null,"url":"/europe/"},{"id":"cG9zdDozNzQ0ODM3","label":"Asia","subMenu":null,"url":"/asia/"},{"id":"cG9zdDozNTcxNTE2","label":"Tech","subMenu":[{"id":"cG9zdDozNjEwMDMz","label":"AI","subMenu":null,"url":"/tag/artificial-intelligence/"}],"url":"/section/tech/"},{"id":"cG9zdDozNTcxNTE3","label":"Finance","subMenu":[{"id":"cG9zdDozNjEwMDM0","label":"Personal Finance","subMenu":null,"url":"/section/personal-finance/"},{"id":"cG9zdDozNTkwNjUw","label":"Real Estate","subMenu":null,"url":"/tag/real-estate/"},{"id":"cG9zdDozNTcxNTE4","label":"Crypto","subMenu":null,"url":"/crypto/"}],"url":"/section/finance/"},{"id":"cG9zdDozNTcxNTIx","label":"Leadership","subMenu":[{"id":"cG9zdDozNTcxNTIy","label":"Success","subMenu":null,"url":"/section/success/"}],"url":"/section/leadership/"},{"id":"cG9zdDozNTcxNTI3","label":"Well","subMenu":[{"id":"cG9zdDozNTcxNTI5","label":"Life","subMenu":null,"url":"/well/section/life/"},{"id":"cG9zdDozNTcxNTMw","label":"Health","subMenu":null,"url":"/well/section/health/"},{"id":"cG9zdDozNTcxNTMx","label":"Mind","subMenu":null,"url":"/well/section/mind/"},{"id":"cG9zdDozNTcxNTMy","label":"Family","subMenu":null,"url":"/well/section/family/"},{"id":"cG9zdDozNTcxNTMz","label":"Aging Well","subMenu":null,"url":"/well/section/aging-well/"}],"url":"/well/"},{"id":"cG9zdDozNTcxNTQ4","label":"Education","subMenu":[{"id":"cG9zdDozODQzMzYy","label":"Top Business Schools","subMenu":null,"url":"https://fortune.com/education/business/"},{"id":"cG9zdDozODQzMzYz","label":"Top Information Technology and Data Schools","subMenu":null,"url":"https://fortune.com/education/information-technology/"},{"id":"cG9zdDozODQzMzY0","label":"Top Health Schools","subMenu":null,"url":"https://fortune.com/education/health/"}],"url":"/education/"},{"id":"cG9zdDozNTcxNTQ5","label":"Video","subMenu":null,"url":"/videos/"}],"url":"/"},{"id":"cG9zdDozNTcxNTUw","label":"Rankings","subMenu":[{"id":"cG9zdDozNTcxNTU0","label":"FORTUNE 500","subMenu":null,"url":"/ranking/fortune500/"},{"id":"cG9zdDozNTcxNTU1","label":"GLOBAL 500","subMenu":null,"url":"/ranking/global500/"},{"id":"cG9zdDozNTcxNTU2","label":"MOST POWERFUL WOMEN","subMenu":null,"url":"/ranking/most-powerful-women/"},{"id":"cG9zdDozNTcxNTU3","label":"GREAT PLACE TO WORK LISTS","subMenu":null,"url":"/great-place-to-work-rankings/"},{"id":"cG9zdDozNTcxNTU4","label":"BEST MBA PROGRAMS","subMenu":null,"url":"/education/business/best-mba-programs/"},{"id":"cG9zdDozNTg5MTQz","label":"MORE RANKINGS","subMenu":null,"url":"/ranking/"},{"id":"cG9zdDozOTY1NzQx","label":"Fortune Company List","subMenu":null,"url":"https://fortune.com/companies/"}],"url":"/ranking/"},{"id":"cG9zdDozNTcxNTU5","label":"Analytics","subMenu":null,"url":"/analytics"}],"rightMenu":[{"id":"cG9zdDozNTcxNTYw","label":"Newsletters","subMenu":null,"url":"/newsletters/"},{"id":"cG9zdDozNTcxNTYx","label":"Magazine","subMenu":[{"id":"cG9zdDozNTcxNTYy","label":"February/March 2025","subMenu":null,"url":"/packages/february-march-2025/"},{"id":"cG9zdDozNTcxNTYz","label":"December 2024/January 2025","subMenu":null,"url":"/packages/december-2024-january-2025/"},{"id":"cG9zdDozNjkyMTIx","label":"October/November 2024","subMenu":null,"url":"https://fortune.com/packages/october-november-2024/"},{"id":"cG9zdDozNTcxNTY0","label":"August/September 2024","subMenu":null,"url":"/packages/august-september-2024/"},{"id":"cG9zdDozNTg5MTQ1","label":"June/July 2024","subMenu":null,"url":"/packages/june-july-2024/"},{"id":"cG9zdDozNTczMDY5","label":"April/May 2024","subMenu":null,"url":"/packages/april-may-2024/"}],"url":"/magazine/"},{"id":"cG9zdDozNTcxNTY1","label":"Live Media","subMenu":null,"url":"/conferences"},{"id":"cG9zdDozNjgyMTY5","label":"CEO Initiative","subMenu":null,"url":"https://fortune.com/ceoi"}],"rightRailMenu":[{"id":"cG9zdDozNDI0NDc0","label":"The Coins","subMenu":null,"url":"/crypto/section/the-coins/"},{"id":"cG9zdDozNDI0NDc1","label":"Companies","subMenu":null,"url":"/crypto/section/companies/"},{"id":"cG9zdDozNDI0NDc2","label":"Regulators","subMenu":null,"url":"/crypto/section/regulators/"},{"id":"cG9zdDozNDI0NDc3","label":"NFTs \u0026 Culture","subMenu":null,"url":"/crypto/section/nfts-culture/"},{"id":"cG9zdDozNDI0NDg4","label":"Crash Course","subMenu":null,"url":"https://fortune.com/crypto/crash-course/"},{"id":"cG9zdDozNDI0NDg1","label":"More","subMenu":[{"id":"cG9zdDozNDI0NDg5","label":"fortune.com","subMenu":null,"url":"https://fortune.com/"},{"id":"cG9zdDozNDI0NDkw","label":"Video On Demand","subMenu":null,"url":"https://fortune.com/videos/"},{"id":"cG9zdDozNDI0NDkx","label":"Fortune Live Media","subMenu":null,"url":"https://fortune.com/conferences/"},{"id":"cG9zdDozNjgyMTU0","label":"CEO Initiative","subMenu":null,"url":"https://fortune.com/ceoi"},{"id":"cG9zdDozNDI0NDky","label":"Fortune Connect","subMenu":null,"url":"https://fortune.com/connect/"},{"id":"cG9zdDozNDI0NDk0","label":"Fortune Education","subMenu":null,"url":"https://fortune.com/education/"},{"id":"cG9zdDozNDI0NDk2","label":"Fortune Well","subMenu":null,"url":"https://fortune.com/well/"},{"id":"cG9zdDozNDI0NDk3","label":"Fortune Recommends","subMenu":null,"url":"https://fortune.com/recommends/"}],"url":null}],"subDomain":"own","topicNavigation":[{"id":"cG9zdDozNTcxNDQ4","label":"Home","subMenu":null,"url":"/"},{"id":"cG9zdDozNTcxNDQ5","label":"News","subMenu":null,"url":"/the-latest/"},{"id":"cG9zdDozNTcxNDUw","label":"Tech","subMenu":[{"id":"cG9zdDozNjEwMDM2","label":"AI","subMenu":null,"url":"/tag/artificial-intelligence/"}],"url":"/section/tech/"},{"id":"cG9zdDozNTcxNDUx","label":"Finance","subMenu":[{"id":"cG9zdDozNjEwMDM1","label":"Personal Finance","subMenu":null,"url":"/section/personal-finance/"},{"id":"cG9zdDozNTkwNjQ5","label":"Real Estate","subMenu":null,"url":"/tag/real-estate/"},{"id":"cG9zdDozNTg3NTAy","label":"Crypto","subMenu":null,"url":"/crypto/"}],"url":"/section/finance/"},{"id":"cG9zdDozNTcxNDUy","label":"Leadership","subMenu":[{"id":"cG9zdDozNTg3NTA0","label":"Success","subMenu":null,"url":"/section/success/"}],"url":"/section/leadership/"},{"id":"cG9zdDozNTcxNDUz","label":"Well","subMenu":[{"id":"cG9zdDozNTg3NTA1","label":"Life","subMenu":null,"url":"/well/section/life/"},{"id":"cG9zdDozNTg3NTA2","label":"Health","subMenu":null,"url":"/well/section/health/"},{"id":"cG9zdDozNTg3NTA3","label":"Mind","subMenu":null,"url":"/well/section/mind/"},{"id":"cG9zdDozNTg3NTA4","label":"Family","subMenu":null,"url":"/well/section/family/"},{"id":"cG9zdDozNTg3NTA5","label":"Aging Well","subMenu":null,"url":"/well/section/aging-well/"}],"url":"/well/"},{"id":"cG9zdDozODc0Mjgz","label":"Education","subMenu":[{"id":"cG9zdDo0MTcyNzUx","label":"Top Business Schools","subMenu":null,"url":"/education/business/"},{"id":"cG9zdDo0MTcyNzUy","label":"Top Information and Technology Schools","subMenu":null,"url":"/education/information-technology/"},{"id":"cG9zdDo0MTcyNzUz","label":"Top Health Schools","subMenu":null,"url":"/education/health/"}],"url":"/education/"},{"id":"cG9zdDozNTcxNDU1","label":"Fortune 500","subMenu":[{"id":"cG9zdDozOTE2MzAw","label":"FORTUNE SEA 500","subMenu":null,"url":"https://fortune.com/asia/ranking/southeast-asia-500/"},{"id":"cG9zdDozNzE2NjEw","label":"Fortune 500 Europe","subMenu":null,"url":"https://fortune.com/europe/ranking/fortune500-europe/"},{"id":"cG9zdDozNzE2NjEx","label":"Fortune Global 500","subMenu":null,"url":"https://fortune.com/ranking/global500/"},{"id":"cG9zdDozNzE2NjEy","label":"Fortune China 500","subMenu":null,"url":"https://www.fortunechina.com/fortune500/c/2023-07/25/content_436290.htm"}],"url":"/ranking/fortune500/"}]},"iterablePageViewData":{"authors":[],"channel":"","contentType":"author","premiumCategory":"","sections":[],"tags":[],"topics":[],"url":"https://fortune.com/author/bloomberg/"},"name":"bloomberg","pageAdConfig":{"ch":"","cid":"2107029","ctype":"author","defaultPath":"fortune","premiumCategory":"","slots":[{"id":"Leaderboard0","index":1,"placementName":"Leaderboard"}],"tags":[],"topics":[],"loginStatus":"guest"},"pageSize":15,"pianoPageConfig":{"contentSection":"","franchiseWall":false,"pageType":"author","publishDate":"","tags":[]}},"__N_SSG":true},"page":"/author/[name]","query":{"name":"bloomberg"},"buildId":"d22uXhbrdgaeuww0264GL","isFallback":false,"isExperimentalCompile":false,"dynamicIds":[6334],"gsp":true,"scriptLoader":[]}</script></body></html>