Forbes USA – August-September 2026

Summary

Ex-military entrepreneurs are leveraging 21st-century tech to build better, smarter weapons—and this AI-powered revolution will generate vast riches while forever changing how we wage war. The August-September 2026 Forbes (Volume 209, No 4) cover story "Soldiers With Fortunes" features Shield AI's Brandon Tseng, whose company is now valued at $4 billion. Monica Hunter-Hart reports on a cohort of veteran founders who arebfusing AI, drones and autonomous systems into the defense-industrial base.

The feature well is the year's most varied. "Battle Tested" (page 64) is the flagship defense-tech package, paired with "America's Top Veterans" list. "The Caring Economy" (page 76) by Richard Nieva profiles Havi Nguyen's health-tech platform. "The Great Russian Superyacht Fiasco" (page 86) by Giacomo Tognini traces the seizure and deterioration of sanctioned oligarchs' yachts. "Master of Disaster" (page 98) by John Hyatt covers a crisis-management entrepreneur. "America's Next Billion-Dollar Startups" (page 80) presents 25 companies on track to reach $1 billion valuation. "The Magic Bus" (page 60) by Maggie McGrath profiles a 50 Over 50 honoree.

FRONTRUNNER covers Highest-Paid Podcasters ($450 million combined in 2025-26), the World's Highest-Paid Golfers, and a New Billionaire Golden GOAT. Steve Forbes' Fact & Comment leads the issue.

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Content Guide

▸ Cover Story / Defense Tech

p.64 · Battle Tested
Monica Hunter-Hart profiles 12 veteran-founded defense-tech startups, led by Shield AI ($4 billion valuation, $400 million in revenue). Common characteristics: founder with combat experience, AI-first approach to autonomous systems, and Department of Defense contracts exceeding $100 million. The article includes a funding-and-contract database for each company. If you are investing in defense tech, prioritize companies where the founder has both combat and engineering experience.

p.64 · America's Top Veterans
Edited by Alex Knapp, the list ranks 250 veteran entrepreneurs, executives and innovators. Selection methodology: business success, community impact and post-service achievement. The list includes 38 billionaires and 112 CEOs of companies with revenue above $100 million. Use the list for veteran-hire recruiting—these companies are proven veteran-friendly employers.

▸ Economy / Care

p.76 · The Caring Economy
Richard Nieva profiles Havi Nguyen's platform connecting caregivers with families, which reached $200 million in revenue serving 500,000 families. The article argues that the care economy (elder care, childcare, disability support) is the next $1 trillion market, with 78 million baby boomers entering retirement. If you are building in the care economy, focus on B2B employer-sponsored care benefits rather than direct-to-consumer—employer channel has 3x higher conversion rates.

▸ Geopolitics / Assets

p.86 · The Great Russian Superyacht Fiasco
Giacomo Tognini traces 23 superyachts seized since 2022. Maintenance costs have exceeded $300 million cumulatively, with several vessels deteriorating due to inadequate port storage. Legal battles over ownership and jurisdiction continue in 7 countries. A table tracks each vessel's location, estimated value and current condition. If you advise UHNW clients with multi-jurisdiction assets, review sanctions-exposure scenarios at least quarterly.

▸ Startups

p.80 · America's Next Billion-Dollar Startups
25 companies identified as on track to reach $1 billion valuation within 24 months. Industries with highest concentration: AI/ML (8), defense tech (5), healthcare (4), climate tech (4) and fintech (3). Selection criteria include revenue growth above 50% YoY, founder-market fit and total addressable market above $10 billion. Use the list's TAM analysis template to evaluate your own startup's market-sizing methodology.

▸ Media / Business

p.17 · Highest-Paid Podcasters
The top 10 podcasters earned $450 million combined in 2025-26. Joe Rogan leads at $120 million, followed by Alex Cooper ($85 million), Theo Von ($55 million) and the SmartLess team ($50 million). The article notes that podcast advertising revenue reached $4.2 billion in 2025. If you are launching a branded podcast, budget for at least 12 episodes before expecting measurable audience growth.

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Editor's Take

The defense-tech cover story is the most original reporting Forbes has published in 2026—Hunter-Hart gained access to DoD contract data and startup financials that are usually opaque. The Russian superyacht fiasco article is a masterclass in multi-jurisdiction asset tracing. Weakest content: the "Caring Economy" piece is positioned as a major feature but is essentially a single-company profile. The "Magic Bus" 50 Over 50 piece is too brief to deliver the substance the subject deserves. Production is strong—the defense-tech package includes a useful funding database visualization. Best for defense contractors, venture investors and anyone tracking the convergence of AI and military technology.

Strengths
• Defense-tech cover story provides verified DoD contract and startup financial data
• Russian superyacht article tracks 23 vessels with specific maintenance costs
• Billion-Dollar Startups list includes specific TAM and growth criteria

Weaknesses
• Caring Economy piece is a single-company profile, not a sector analysis
• Magic Bus profile is too brief for the subject matter

Verdict: Essential — The defense-tech reporting alone makes this the most original issue of Forbes in 2026.