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☆ Mark Zuckerberg and Priscilla Chan have 3 kids: Maxima, August, and Aurelia
▼ + stars: | 2023-08-07 | by ( Grace Mayer | ) www.businessinsider.com time to read: +2 min

Meta CEO Mark Zuckerberg and Priscilla Chan have been married since 2012 and have three children. Meta CEO Mark Zuckerberg and wife Priscilla Chan have been married since 2012 after meeting in college. On the day the couple announced Maxima's birth, they also unveiled their philanthropic fund, The Chan Zuckerberg Initiative. Zuckerberg and Chan have also found a balance between teaching their kids part of Zuckerberg's Jewish religion and Chan's Chinese heritage. At the end of the night, Zuckerberg does a bedtime prayer in Mandarin Chinese with his children, Chan told The Times.

Persons: Mark Zuckerberg, Priscilla Chan, Zuckerberg, Aurelia, There's, —, fascinates Zuckerberg, Augustus Caesar, Newborn, Marcus Aurelius, Chan Zuckerberg, Chan, Mark Organizations: Chan Zuckerberg Initiative

☆ Citigroup's Asia family office clients poised to grow 25% in 2023
▼ + stars: | 2023-08-04 | by ( Xie Yu | ) www.reuters.com time to read: +2 min

REUTERS/Athit Perawongmetha/File PhotoHONG KONG, Aug 4 (Reuters) - Citigroup's (C.N) Asia family office business expects a 25% increase in clients this year, the U.S. bank's regional head of its family office advisory business said, as Singapore and Hong Kong vie to attract more wealth. Global banks have been beefing up family office arms in Asia, as demand continues to surge among rich Asians wanting to set up private investment vehicles and plan for business succession. Citi in 2020 turned its Asia family office service into a full-fledged unit combining advisory, family governance, legacy planning, philanthropy, investment and deal-making capabilities for ultra-wealthy clients. "We have seen great interest from China, Hong Kong, the Philippines, India, and Indonesia in settling their family offices here (Hong Kong)," Ong said, adding there was also growing interest from Middle Eastern clients. There is scale and Singapore is becoming more discerning about the type of family offices it wants to attract," Ong said.

Persons: Athit, HONG KONG, Faye Ong, Ong, Faye, Xie Yu, Sumeet Chatterjee, Jamie Freed Organizations: Citi, REUTERS, Reuters, Global, Accenture, Thomson Locations: Bangkok, Thailand, HONG, Asia, U.S, Singapore, Hong Kong, China , Hong Kong, Philippines, India, Indonesia, Hong

A version of this story appeared in the August 4 edition of CNN’s Royal News, a weekly dispatch bringing you the inside track on Britain’s royal family. We recently found out that Prince Harry will also be grabbing his passport and heading to the Southeast Asian nation for his own charitable cause. The Duke of Sussex will be competing in his Sentebale charity’s annual polo match there next weekend. Meghan, Duchess of Sussex attends the Sentebale Polo Cup 2018 in Windsor, England. It was also at a polo match in Windsor in 1970 where a young Prince Charles reportedly first met Camilla Shand and they became friends.

Persons: Prince, Wales, Prince Harry, Duke, Sussex, Harry, Prince Seeiso, Duke of Sussex, Dominic Lipinski, Nacho Figueras, Haruhisa Handa, Handa, Meghan, Duchess of Sussex, Samir Hussein, Prince William, –, William, Catherine, Max Mumby, Barack Obama, Prince George, King Charles, Prince Philip, Prince Charles, Camilla Shand, Love, Prince Archie, George, Charlotte, Louis Organizations: CNN’s Royal, London CNN, Kasane, Singapore Polo Club Team, Promotion Society, Values, Polo Cup, Polo, cyberbullying, Technology, Power, New, Royal, Polo Day, Billingbear Polo Club Locations: London, Singapore, Lesotho, Africa, Botswana, Lion City, Tokyo, Our, Windsor , England, New York, Persia, Windsor, Surrey, England

☆ Here are six ways the rich save big on taxes, from putting mansions in trusts to guaranteeing inheritance for future generations
▼ + stars: | 2023-08-04 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

Thanks to tax cuts made during the Trump administration, Americans can give or hand down nearly $13 million in assets without paying federal estate tax. Currently, individuals and married couples can gift or bequeath $12.92 million and $25.84 million, respectively, before a 40% federal estate tax kicks in. The heirs don't own the trust assets but rather have lifetime rights to the trust's income and real estate. Private-placement life insurance, or PPLI, can be used to pass on assets from stocks to yachts to heirs without incurring any estate tax. These trusts pay a fixed annuity during the trust term, which is usually two years, and any appreciation of the assets' value is not subject to estate tax.

Persons: Uncle Sam, Trump, Robert Strauss, Weinstock Manion, Wrigley, Jeff Bezos, Rich, Ron Wyden, PPLI Organizations: Taxpayers, IRS, Biden, Blackstone, Lombard International, Federal Reserve Locations: Cayman Islands, Bermuda, Florida, Wyoming, Plenty

☆ Climate activist Greta Thunberg pulls out of Edinburgh Book Festival appearance after accusing key sponsor of greenwashing
▼ + stars: | 2023-08-04 | by ( Niamh Kennedy | ) edition.cnn.com time to read: +3 min

CNN —Climate activist Greta Thunberg has canceled an appearance at the Edinburgh International Book Festival after accusing one of the festival’s main sponsors of greenwashing. As a climate activist I cannot attend an event which receives sponsorship from Baillie Gifford, who invests heavily in the fossil fuel industry,” Thunberg said. “Greenwashing efforts by the fossil fuel industry, including sponsorship of cultural events, allow them to keep the social license to continue operating. Barley went on to highlight the crucial role played by organizations such as Baillie Gifford in keeping an event such as the Edinburgh International Book Festival alive. As a charitable organisation, we would not be in a position to provide that platform without the long-term support of organisations such as Baillie Gifford,” Barley said.

Persons: Greta Thunberg, Thunberg, Ballie Gifford, ”, Baillie Gifford, ” Thunberg, “, Nick Barley, ” Barley, Barley, Baillie Gifford’s Organizations: CNN, Edinburgh, greenwashing, Playhouse Theatre Locations: Edinburgh, Scottish

☆ Salesforce quietly terminated the employment of a popular diversity executive
▼ + stars: | 2023-08-03 | by ( Ellen Thomas | Ashley Stewart | ) www.businessinsider.com time to read: +2 min

Salesforce quietly released diversity executive Jacalyn Chapman in May, sources tell Insider. The company told some employees Chapman's role was being eliminated, one of the people said. Salesforce is facing a discrimination lawsuit from another diversity executive. Salesforce terminated the employment of a popular diversity, equity, and inclusion executive in May, people familiar with the matter told Insider. Although the circumstances of her termination are unclear, one person said some employees were told her role was being eliminated.

Persons: Salesforce, Jacalyn Chapman, Marc Benioff, Brent Hyder, Chapman, Ebony Beckwith, Bain, Slack Organizations: Equality, Bain & Company Locations: Salesforce

☆ MrBeast sues to shut down the ghost-kitchen that produced MrBeast Burger
▼ + stars: | 2023-08-02 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +5 min

MrBeast, whose real name is Jimmy Donaldson, contracted Virtual Dining Concepts, based in Orlando, Florida, to launch the MrBeast Burger concept in 2020 during the Covid-19 pandemic. The MrBeast burger, of the virtual food delivery chain driven by YouTube celebrity Jimmy Donaldson, in New York, Feb. 24, 2021. Because of that harm, the lawsuit claims Donaldson has the right to end the breached contract and shut down the MrBeast burger business. For example, MrBeast Burger in New York has 2.1 stars on Yelp. In 2022, a physical MrBeast Burger opened at the American Dream mall in New Jersey, sending fans swarming the store on its debut.

Persons: MrBeast, MrBeast Burger, Jimmy Donaldson, Adam Friedlander, Donaldson, it’s, Burger, He’s, ” Donaldson, ”, “ Organizations: New, New York CNN, Court, of, Concepts, YouTube, The New York Times, Beast Investments, Burger, European Union, Investments Locations: New York, Southern, of New York, Orlando , Florida, European Union Canada, Thailand, Singapore, Mexico, Malaysia, New Jersey

☆ John Cena slept in his car and ate free pizza as he racked up job rejections in LA: 'Every avenue of fitness failed'
▼ + stars: | 2023-07-30 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

Fame and fortune weren't exactly in the cards for actor and WWE superstar John Cena early on. Finding a job in the field, however, proved harder than he'd thought, Cena told comedian Kevin Hart on Peacock talk show "Hart to Heart." After "every avenue of fitness failed," and a last-ditch effort to become a highway patrol officer fell through, Cena was met with homelessness, sleeping in the back of his 1991 Lincoln Continental and living off free pizza from a local shop. "They had a deal where, if you could eat their whole pizza, you got it for free," Cena said, chuckling. It's a job Cena didn't even know was possible.

Persons: John Cena, Cena, Kevin Hart, Peacock, Hart, —, Cena didn't, you've Organizations: WWE, Springfield College, Continental, Pro Wrestling, Ultimate University, Furious, CNBC Locations: West Newbury , Massachusetts, Los Angeles , California, LA

☆ Get the lowdown on 'e/acc' — Silicon Valley's favorite obscure theory about progress at all costs, which has been embraced by Marc Andreessen
▼ + stars: | 2023-07-28 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

There's a new ideological interest in Silicon Valley: effective accelerationism. It's called effective accelerationism. The more formalized e/acc idea has taken shape on Twitter and through Substack newsletters since 2022. In an e/acc world, no idea that offers hypothetical value should be considered too absurd, too dangerous, too out there to make a reality. But one thing does seem certain: as long as AI remains front and center, so too will effective accelerationism.

Persons: Marc Andreessen, It's, Garry Tan, Sam Bankman, Fried, Michael M, Nick Land, Freeman, ChatGPT, Marc Andreessen's, Tan, Y Organizations: Tech, acc, Morning, Twitter, Getty, University of Warwick Locations: Silicon Valley, British, Francisco

☆ How Harvard makes so much money — and why a major funding source could be at risk
▼ + stars: | 2023-07-27 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The Education Department's inquiry into the school's legacy admissions process could shake up funding sources. Harvard fiscal year 2022 operating revenue sources. According to the school's 2022 financial report, philanthropy, which includes gifts from donors and alumni, accounted for 45% of total revenue. "In fiscal year 2022, Harvard received current use gifts from alumni, foundations, and others totaling $505 million, representing approximately 9% of operating revenues," the school said. When it comes to actually spending all that money, Harvard said it uses endowment funds to "support nearly every aspect of University operations."

Persons: Johns, Harvard Organizations: Harvard, Service, Harvard University, Ivy League, Education Department, Community Economic, Greater Boston, Network, Amherst, Research, University Locations: Wall, Silicon, New England, Johns Hopkins

☆ If you win the lottery, here’s what you should (and shouldn’t) do
▼ + stars: | 2023-07-19 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

Before you broadcast your sudden windfall to the world, and even before you contact lottery officials, you’ll be wise to surround yourself with a team of lawyers and financial advisers. Make copies of both sides of your lottery ticket, and then lock it up somewhere only you can access it. “Find an attorney who has experience dealing with people with this level of wealth, because it is different,” says Herzig. Next up, you’ll need an accountant and a financial adviser to protect your wealth from “creditors and predators,” as Herzig puts it. But there’s one big piece of the lottery puzzle that you can’t farm out to lawyers, and that’s your mental health.

Persons: you’ll, “, ” Belinda Herzig, ”, Gary, who’s, Herzig, you’re Organizations: New York CNN, Mellon Wealth Management, CNN, lotto Locations: New

☆ India should cash in on 'China plus one' strategy - World Bank chief
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +2 min

In recent years, many companies have adopted a "China Plus One" strategy to build new manufacturing units outside the People's Republic. India has a window of three-to-five years to seize this opportunity to attract investment, said Ajay Banga, the former Mastercard CEO who became World Bank chief last month. "I think India's opportunity currently is to cash in on the 'China plus one' opportunity. The World Bank chief also called for private capital investments to aid global efforts for renewable energy funding. We will also need different forms of multilateral bank capital and government capital and philanthropy capital to take first risk positions or help enable the blended finance to come through," Banga said.

Persons: Ajay Banga, Banga, Narendra Modi, Nirmala Sitharaman, Nikunj Ohri, Shivam Patel, Sharon Singleton, William Maclean Organizations: World Bank, chipmaker Micron Technology, Mastercard, Indian, India's, Thomson Locations: DELHI, India, China, United States, Asia, People's Republic, New Delhi

☆ A former Salesforce DEI director is suing the company claiming racial discrimination. She's not the first Black employee to complain.
▼ + stars: | 2023-07-19 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +5 min

A former DEI leader at Salesforce is now suing the company for race discrimination. It's not the first time a Black woman has claimed she was discriminated against at Salesforce. In November 2021, the complainant was moved to the Office of Equality at Salesforce, where she reported to the company's Chief Equality Officer. This complainant is not the first Black woman to complain of biased and unfair treatment at Salesforce. In 2022, Salesforce reported that 5.2% of its workforce identified as Black or African-American, up from 3.5% in 2020.

Persons: It's, Andy Kofoid, Salesforce, Tom Nesbitt, Michael Shaunessy, Nesbitt, Shaunessy, Cynthia Perry, Perry's, Tony Prophet, Prophet, Marc Benioff, Ellen Thomas Organizations: company's, Equality, Salesforce, North, Court of Locations: Salesforce, Austin , Texas, North American, Databricks, Court of Texas, Austin

☆ OpenAI partners with American Journalism Project to support local news
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +1 min

July 18 (Reuters) - OpenAI is committing $5 million to the American Journalism Project (AJP) under a partnership that will look for ways to support local news through artificial intelligence, the Microsoft-backed startup said on Tuesday. The deal will also give the non-profit and related organizations up to $5 million in OpenAI credits for the use of the technology popularized by ChatGPT. "With this partnership, we aim to promote ways for AI to enhance — rather than imperil — journalism," said Sarabeth Berman, CEO of AJP. AJP is a venture philanthropy that provides grants to local nonprofit news organizations, to help sustain their newsrooms. To date, it has raised $139 million from local and national funders to address the U.S.' local news crisis, and backed 41 nonprofit local news organizations across the country.

Persons: OpenAI, ChatGPT, Sarabeth Berman, Samrhitha, Pooja Desai Organizations: American Journalism, Microsoft, Associated Press, ., Thomson Locations: Bengaluru

In 2006 she gave $200 million to New York University to help create the Institute for the Study of the Ancient World, which operates in a townhouse her foundation bought near the Met. White and Levy had begun amassing their extensive collection of more than 700 antiquities in the 1970s. Beginning in 1993, the couple agreed to relinquish 16 items after claims they had been looted from an ancient Roman site in England. In 2008, White surrendered 10 objects to Italy and two to Greece. It had been part of the “Glories of the Past” exhibition at the Met in 1990.

Persons: White, Levy, Giacomo Medici, Robin Symes, Eucharides, “, ”, David Gill Organizations: Brooklyn Museum, New, Botanical, Lincoln Center, New York University, for, Carnegie, Met, Centre for Heritage, University of Kent Locations: England, Italy, Greece, Italian, British, Turkey

☆ MrBeast: Behind the success of YouTube’s most popular creator
▼ + stars: | 2023-07-15 | by ( Faith Karimi | ) edition.cnn.com time to read: +12 min

“People would tell me, ‘All you do is talk about YouTube videos. Seven years later, Donaldson, better known online as MrBeast, has 167 million YouTube subscribers – more than any other individual creator on the platform. Donaldson navigates a maze in a screenshot from MrBeast's video, "I Got Hunted By the FBI." “That’s an interesting model, because you’re giving video viewers access to something they would never get to see in real life,” Fischer says. He often uses income from his previous videos to outdo himself in his next videos,” Miller says.

Persons: Jimmy Donaldson, ”, podcasters Colin, Samir, “, You’re, ’ ”, Donaldson, Mark Zuckerberg, Colin, ’, Donaldson breathlessly, Sara Fischer, “ It’s, CNN’s Jon Sarlin, ” Fischer, Pete Davidson, Tom Brady, relatable, Miller, MrBeast, ” Donaldson, Monica Schipper, Vince Miller, ” Miller, – Donaldson, Kristen Ruby, Gen Zers, Ruby, Burger, Dave Kotinsky, MrBeast Burger, –, mobbing, “ I’m Organizations: CNN, East Carolina University, YouTube, FBI, NFL, Netflix, Nickelodeon, Microsoft Theater, University of Kent, Ruby Media, Getty, Google, Records, Harvard Business School, Harvard Locations: North Carolina, Los Angeles, Greenville , North Carolina, New Jersey, Greenville, Chile

☆ How 'Birkin Bandit' George Mickum Infiltrated NYC Society
▼ + stars: | 2023-07-12 | by ( Kate Taylor | Anna Silman | ) www.businessinsider.com time to read: +52 min

"He would know people's weaknesses and what they wanted and somehow always have something to offer," a former close friend said. Another close friend said Mickum once gave her a $1,000 loan "within minutes" when she needed it because of a credit-card crisis. He never "let the truth get in the way of a good story," a former close friend said. Hermès bags, like the Birkin and the Kelly, have always been symbols of unattainable luxury. There wasn't even a dust bag; Mickum claimed his mom's assistant would drop it off later.

Persons: George Mickum strode, Carlyle, Patty Hearst, He'd, Mickum, Birkin, swilling, Patty's, Gillian Hearst, Mr, George Mickum, Gillian Hearst's, George, Sally Painter, who'd, Peter Davis, Jackie O, Barbara Walters, Alessia Fendi, influencer Hannah Stella, Nick Hissom, Steve Wynn, Hearst, they'd, Prince Charles, Anna Delvey, Patty Hearst's, Rumor, he'd, wasn't, Met Breuer, Peter Poopat, George Santos, Trinity, Elisabeth Thieriot, Thieriot, Hermes, —, Painter, Paul Mickum, George Mickum III, Sally, Painter's, Poopat, PJ Pascual, Patrick McMullan, Ramona Singer, Lauren Lawrence, Lawrence, Van Cleef, Nicole Salmasi, Trudy, Mike Vitelli, Eric Schmidt, Schmidt, Eric, R, Couri Hay, They're, Astor, William Randolph Hearst, Orson Welles, Kane, Gillian's, Bill Clinton, Patty, Bernard Shaw, Gillian, Lydia —, Shaw, Maxim, Lydia, Kane we're, Christian Simonds, Pierre, Krista Corl, Dee Dee, Scott Buccheit, Naeem Delbridge, Pascual, who's, We're, buttering, Simonds, Matthew Kehoe, England, — Hearst, Delbridge, Hearst's, Mario Glen Coco, Hearsts, Astrid Stawiarz, Tiger Woods, Ernie Els, Justin Timberlake, Joe Lewis, Buccheit, Mary McCarthy, Lillian Hellman, Mickum's, Christie Grimm, Steve, Kameron Ramirez, Hissom, Ramirez, Nick, Hunt, Damien Hirst, Douglas Elliman, Harry Winston, David Fiszel, invitees, Fiszel, Darian, Winston, Martha Stewart's, Mendel minks, Vacheron Constantin, Tao, Melinda French Gates, Shawn Mendes, Bill, Hillary Clinton, Neiman Marcus, Damien Hirst's, Damien, weren't, Kelly, Alexis Clarbour, Clarbour, Paul Wharton, you've, Wharton, Sean Zanni, Michael Coste, Hannah Stella, Coste's, Stella, Scott Fitzgerald, Coste, Goodman, Courroies Birkin, didn't, Aman, Cartier, Mickum's bluster, skeptically, satchel, Clarbour's, He's, We've, Sider, Philippe, Buccheit texted Pascual, he's, Hay, Café Carlyle, Alexander Hankin, Burisma, Hunter Biden, Mickum hasn't, There's, They've, Amy X, Wang, King Charles, Tracey Amon, Amon, GEORGE MICKUM Organizations: Hearst, Blue, Potomac, Hamptons, East, Met, University of Delaware, Southampton Bathing Corporation, Fields School, Georgetown Law, DC, Town &, New York Daily News, The New York Times, Google, Carnegie, Rockefeller, Cosmopolitan, Symbionese Liberation Army, Hearst Corporation, Vogue, Society of Memorial Sloan Kettering, Stockbridge Golf, New, Tiger, Tottenham, Douglas, Martha Stewart's Hamptons, Mickum, Projects, Madison, Getty, Antibes, Nike, Rue du Faubourg Saint, Couture, US, UN, New Yorkers, Avenue Couture, Hermès, Republican, Justice Department, Blue Star, Town, New York Times Magazine Locations: Bemelmans, Clinton, York, Palm, New, London, Manhattan, Dalton, Bay, Windsor Castle, Haute, Washington , DC, New York, Baccarat, The, San Francisco, Wilton , Connecticut, Side, Wyntoon, California, Buccheit, woodsy Stockbridge , Massachusetts, Stockbridge, Bahamas, Albany, Nobu, Martha, Peking, Paris, Istanbul, St, Georgetown, China, Italy, Hermès, Amalfi Coast, du, Midtown, brunch, Rue, Central Park, Mickum, Turkey, La, Café, Ukrainian, Ukraine

☆ Jack Ma loses more than half of his wealth after criticizing Chinese regulators
▼ + stars: | 2023-07-12 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Ma, who also co-founded e-commerce firm Alibaba (BABA), has a 9.9% stake in Ant, according to Bloomberg. Chinese regulators pulled the plug on Ant’s $37 billion IPO in November 2020 and ordered the company to restructure its business. In recent years, he has reportedly spent time in Japan, home to his friend and Alibaba investor, SoftBank (SFTBF) CEO Masa Son, and in Hong Kong. In January, Ma gave up control of Ant after it spent two years revamping its business from consumer lending to insurance products at the behest of regulators. Ant and its units were also fined $984 million by Chinese financial regulators last week, for allegedly breaking rules related to consumer protection and corporate governance.

Persons: Jack Ma’s, Ant, Ma, Masa Son, Alibaba Organizations: Hong Kong CNN, Bloomberg, Ant Group, CNN Locations: Hong Kong, China, Shanghai, Japan, Tokyo

☆ Inside the White-Hot Center of A.I. Doomerism
▼ + stars: | 2023-07-11 | by ( Kevin Roose | More About Kevin Roose | ) www.nytimes.com time to read: +2 min

labs and safety research organizations contain some trace of effective altruism’s influence, and many count believers among their staff members. Some Anthropic staff members use E.A.-inflected jargon — talking about concepts like “x-risk” and memes like the A.I. (Just one example: Ms. Amodei is married to Holden Karnofsky, the co-chief executive of Open Philanthropy, an E.A. Open Philanthropy, in turn, gets most of its funding from Mr. Moskovitz, who also invested personally in Anthropic.) safety was genuine, in part because its leaders had sounded the alarm about the technology for so long.

Persons: E.A.s, Dustin Moskovitz, Jaan, Anthropic, Sam Bankman, Fried, Bankman, Amodei, Shoggoth, Holden Karnofsky, Luke Muehlhauser, Moskovitz Organizations: Facebook, Skype, Open Locations: E.A, Jaan Tallinn, Anthropic

☆ Director of New Women’s History Museum Withdraws, Citing Family Issues
▼ + stars: | 2023-07-05 | by ( Julia Jacobs | ) www.nytimes.com time to read: +2 min

Yao denied the allegation in court papers, asserting that the museum had proper policies and procedures in place to respond to workplace harassment. She denied to The Post that the staffers had been let go in retaliation for their reports, attributing the decisions to budget pressures. While the Smithsonian searches for a replacement, the women’s history museum has appointed Melanie A. Adams, the director of the Smithsonian’s Anacostia Community Museum, as interim director. The women’s history museum’s 18 staff members were informed of Yao’s decision on Wednesday, St. Thomas said. Establishing the museum, which is expected to open in roughly 10 years, was estimated to cost about $375 million between construction and the creation of exhibits.

Persons: Yao, Melanie A, Adams, Thomas Organizations: Smithsonian, Washington Post, Museum of, Anacostia Community Museum Locations: America, Anacostia, St

☆ Americans' donations to charity are at a 28-year low. Blame inflation, the rise of crowdfunding, and the decline of religion.
▼ + stars: | 2023-07-01 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +7 min

It's part of the decades-long trend in which Americans have scaled back their charitable giving. There's evidence that this shift has impacted charitable giving. From 2000 to 2016, the share of Americans giving to religious causes fell from roughly 47% to 32%. Other donors have shifted their giving to political causes that wouldn't be classified as charitable giving either. Looking forward, Birkholz said he's optimistic the total giving figure will bounce back in 2023.

Persons: —, Josh Birkholz, We've, Birkholz, Jonathan Meer, Zers, I'm Organizations: Service, Privacy, Indiana University's School, Philanthropy, Indiana University, Pew Research Locations: Texas

☆ Chicago business executive and philanthropist Jim Crown killed in Colorado racetrack crash
▼ + stars: | 2023-06-27 | by ( ) www.cnbc.com time to read: +4 min

Crown, a grandson of industrialist Henry Crown and the chief executive of Henry Crown & Co., was involved in a single-vehicle accident at the Aspen Motorsports Park in Woody Creek, the Pitkin County coroner's office said in a news release. Crown's father, financier Lester Crown, said his son "was driving a race car, and it hit a wall going around a curve," the Chicago Sun-Times reported. "There never was a finer human being in every way," Lester Crown said. Crown's family business, Henry Crown & Co., invests in public and private securities, real estate, and operating companies. "The Crown family is deeply saddened by the sudden passing of Jim Crown in an accident earlier (Sunday)," his family said.

Persons: James, Jim Crown, Henry Crown, Lester Crown, Jim, Barack Obama, Michelle Obama, Brandon Johnson, Obama, Salomon, Lester, Renée Organizations: James Crown, University of Chicago, Chicago . Crown, Co, Aspen Motorsports, Chicago Sun, Times, Commercial Club of Chicago, Sun -, Chicago, Aspen Skiing Co, General Dynamics, JPMorgan Chase, The Aspen Institute, Museum of Science, Industry, President's Intelligence, Hampshire College, Stanford Law School, Salomon Brothers Inc, Capital Markets Service Locations: Chicago ., Chicago, Colorado, Woody Creek, Pitkin County, It's, Amherst , Massachusetts, New York

☆ Remote work may benefit individuals but it harms teams, entrepreneur says
▼ + stars: | 2023-06-27 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

An entrepreneur said that remote work can benefit individuals but also harms teamwork. Major companies including Meta, Google, and Salesforce have reversed remote work policies. Wood pointed out that remote work especially harms junior employees and new hires. Major companies including Google, Meta, and Salesforce are reversing remote work policies that were introduced during the pandemic and ordering staff back to the office to boost productivity and collaboration. Meta's push toward office work is partly for the benefit of its junior employees.

Persons: —, Jake Wood –, Groundswell –, Wood, it's, Fortune, Mark Zuckerberg Organizations: Meta, Google, Service, New, Junior

☆ James Crown, a billionaire JPMorgan board member who belonged to one of the US' richest families, died in a racing crash on his 70th birthday
▼ + stars: | 2023-06-27 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Billionaire businessman James "Jim" Crown died in a racing crash in Aspen, Colorado on Sunday. Crown collided with an impact barrier in an accident, the coroner's office told The Colorado Sun. Forbes ranked the Crown family as the US' 34th richest in 2020 with an estimated wealth of $10.2 billion. Billionaire businessman James "Jim" Crown died in a racing crash in Aspen, Colorado on Sunday, multiple news outlets reported. "The official cause of death is pending autopsy although multiple blunt force trauma is evident," the coroner's office told the publication.

Persons: James, Jim, Crown, Henry Crown, Junius Mayer Schine, Jamie Dimon, Joe Biden, Narendra Modi, Biden, Brandon Johnson, Jim Crown Organizations: Sunday . Crown, Colorado Sun, Forbes, Morning, Aspen Motorsports, The Colorado Sun, Pitkin County Coroner's, Aspen Times, Bloomberg, Henry Crown and Company, Aspen Institute, Aspen Skiing, General Dynamics, White, Indian, America, Chicago, Museum of Science and Industry, University of Chicago Locations: Aspen , Colorado, Pitkin County, Colorado, Chicago

☆ Why billionaire Dustin Moskovitz keeps buying up shares of his software company Asana
▼ + stars: | 2023-06-24 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

Moskovitz, who is still known by many as a co-founder of Facebook, started Asana in 2008 to make work more collaborative through software. Following the purchase of 480,000 Asana shares in June, Moskovitz's ownership swelled to 111.4 million shares, representing over 51% of outstanding stock. Even after rallying 66% this year, Asana shares are more than 80% below their record high from late 2021. Moskovitz has agreed not to buy all outstanding Asana shares or even acquire ownership of 90% of the common stock. Moskovitz declined to talk about whether he was buying up shares to prevent activist investors from coming in and trying to force change.

Persons: Asana's Dustin Moskovitz, Moskovitz, Asana, It's, Cari, ChatGPT, it's, Mark Zuckerberg, Chris Hughes, Eduardo Saverin, Zuckerberg Organizations: Facebook, CNBC, Meta, Good Ventures, National Science Foundation, University of California, Harvard University, New York Stock Exchange Locations: Berkeley

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