April 1, 2015 / Fortune Asia / Volume 171 / Number 5

FEATURES

31 The World’s 50 Greatest Leaders
These extraordinary men and women are transforming business, government, philanthropy, and so much more. Here, our second annual list.

32 Becoming Tim Cook
Since replacing his legendary predecessor, the Apple CEO has led the technology behemoth to even greater financial success. Along the way he’s changed the culture of the company and found his public voice as a leader.
By Adam Lashinsky

44 The List: Intrepid Guides for a Messy World
Governments are failing, companies are under siege, and age-old institutions are losing their grip. How do you lead in a time when everyone is a free agent, following his own star? We’ve found 50 living lessons.
By Geoff Colvin and the Fortune staff

60 The Unluckiest President in America
University of Virginia chief Teresa Sullivan has persevered through an aborted coup, the aftermath of two student murders, a scandal over an alleged gang rape, and more. Does that make her a good leader?
By Patricia Sellers

66 Pop Goes the Art Market
Prices have inflated to record levels傭ut that may not be good news for Sotheby’s and Christie’s.
By Stacy Perman

MACRO

10 Closer Look
How much does it really cost to run for President? Hey, just getting through the first five primaries will cost you $50 million.
By Tory Newmyer

14 Inequality
Forays in the 1%. Plus: Why the Apple Watch may be good for Switzerland, and tax-prep blues.

16 Business Class
The rise of the jet card.
By Daniel Roberts

17 Finance
The sad ”new normal” for investment banking.
By Stephen Gandel

18 Global Power Profile
Chevron CEO John Watson’s playbook for an era of cheap oil.
By Brian O’Keefe

19 Economics
Don’t believe those inflation numbers. Here’s why.
By Erika Fry

22 World’s Most Admired Companies
How USAA became a tech all-star.
By Deena Shanker

VENTURE

23 On the Move
Apps to help keep your business going while you’re on the road.
By Jennifer Alsever

TECH

25 Monologue
PayPal co-founder Max Levchin shares why his new company is a bank for the Digital Age.
By Andrew Nusca

26 The Future of Work
A new service gives employees an anonymous digital forum for gossiping預nd venting.
By Erin Griffith

INVEST

28 Tech Stocks
Tesla has been one of Nasdaq’s worst performers. Here’s why you should buy it now.
By Jen Wieczner

8 EDITOR’S DESK

72 BING!

CORRECTION

”The Great Big Question About Really Tiny Materials” (March 15) misspelled the name of the company Sigma-Aldrich. Fortune regrets the error.

ON THE COVER: PHOTOGRAPH OF TIM COOK BY JOE PUGLIESE

[IMAGES]

”I have thick skin, but it got thicker,” says Cook about taking the helm at Apple.
TIM COOK BY JOE PUGLIESE

PAINTING: ANDREW COWIE/AFP宥ETTY IMAGES

28 Tesla’s Model S sedan has wowed Wall Street, but the stock’s recent dip has given investors a bumpy ride.
CAR: COURTESY OF TESLA

WATCH: COURTESY OF PATEK PHILIPPE

ｩ Time Inc.