Why Fortune is heading to Riyadh
Good morning.
We announced this week that the 2025 Fortune Global Forum will convene in Riyadh, Saudi Arabia, next December. In the spring, we will also hold a Fortune Most Powerful Women event in the Saudi capital—our first-ever MPW gathering in the Middle East. Both are being held in partnership with the Saudi Conventions and Exhibitions General Authority.
I can’t think of a country that has tried to change at the scale or speed of Saudi Arabia, from banning theaters to becoming an entertainment hub, to allowing women to drive and doubling their labor force participation in the space of a few years, to becoming a leader in renewable energy and planning ambitious new cities while overhauling old ones. Not all of these bets will go according to plan—the CEO of the massive Neom project was replaced this week—and there remain concerns about human rights in Saudi Arabia and other parts of the Middle East.
Having recently visited Saudi Arabia for the first time, I was struck by the energy and the optimism of the people I met—especially among those at the start of their careers. As His Excellency Fahd bin Abdulmohsan Al-Rasheed, advisor in the General Secretariat of the Kingdom of Saudi Arabia’s Council of Ministers, pointed out in our interview at the Fortune Global Forum this week, there are 1,064 different initiatives underway across the country. “You’ve got 30 million people who are a part of this,” he said. “It’s not just top down.”
I’m excited that we get a chance to be a part of this change, bringing important discussions and leaders to the region. I’d love to hear your thoughts and experiences and hope to see you in Riyadh.
More news below.
Diane Brady
diane.brady@fortune.com
Follow on LinkedIn
TOP NEWS
Capri-Tapestry merger blocked
Capri and Tapestry announced that the proposed merger between the two fashion groups is officially over following concern from the Federal Trade Commission that the deal would create a monopoly on “affordable luxury.” The $8.5 billion merger would have put brands like Coach and Versace under the same roof. Fortune
Airbnb CEO doesn’t take one-on-ones
In a recent interview with Fortune, Airbnb CEO Brian Chesky said he doesn’t have one-on-one meetings because employees “often don’t talk about the things you want to talk about, and you become like their therapist.” Chesky said he prefers to text or email employees for status updates unless there’s a private matter.
Polymarket CEO raided
The FBI raided the home of Polymarket founder Shayne Coplan Thursday morning, a move the prediction markets company says was politically motivated. Though details have not yet been revealed about the reason for the raid, the 26-year-old founder suggested that the raid was a “last-ditch effort” by the Biden administration to go after Polymarket for posting odds greatly favoring Donald Trump in last week’s election. Fortune
AROUND THE WATERCOOLER
CEOs and experts share how AI is shaking up the workforce—including an instance of ‘robots outcompeting humans in real time’ by Nicholas Gordon
Top real-estate CEO suggests some young people might have voted for Trump because they’re sick of living in their parents’ basements by Alena Botros
Nelson Peltz says he connected Elon Musk with Donald Trump—‘I was a matchmaker’ by Marco Quiroz-Gutierrez
Elon Musk’s AI turns on him, labels him ‘one of the most significant spreaders of misinformation on X’ by Chris Morris
Why the CEO of Nasdaq says the ‘renaissance period’ for tech in finance will last another decade by Sheryl Estrada
Chipotle lied when it denied viral outrage over portion sizes getting skimpier, investor lawsuit claims by Sasha Rogelberg
This edition of CEO Daily was curated by Joey Abrams.
