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☆ With Slashed Funding, British Museums Turn to Philanthropy
▼ + stars: | 2023-06-23 | by ( Alex Marshall | ) www.nytimes.com time to read: +2 min

Although the National Portrait Gallery soon secured large grants from several donors, including some from the United States, it also had setbacks. In 2019, the museum turned down a $1.3 million donation from the Sackler family’s charitable arm. Although the National Portrait Gallery eventually raised enough for the renovation, it has struggled in other fund-raising drives. It is widely considered one of the most important portraits of a person of color in British art history. The trans-Atlantic collaboration was “hopefully a good blueprint” for other museums struggling to buy masterpieces, Hilliam added.

Persons: Ramos, Cullinan, ”, Joshua Reynolds’s “, Mai, Sarah Hilliam, Hilliam Organizations: Sackler, Purdue Pharma, Paul Getty Museum Locations: United States, London, Los Angeles

☆ Warren Buffett's charitable giving tops $51 billion
▼ + stars: | 2023-06-22 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

June 22 (Reuters) - Warren Buffett has donated another $4.64 billion of Berkshire Hathaway (BRKa.N) stock to five charities, boosting his total giving since 2006 to more than $51 billion. Buffett is donating 10.45 million shares to the Bill & Melinda Gates Foundation, which has received more than $39 billion of Berkshire stock overall. He still owned more than $112.5 billion, or about 15%, of Berkshire shares following Wednesday's donations. The Susan Thompson Buffett Foundation works in reproductive health. The Howard G. Buffett Foundation focuses on alleviating hunger, mitigating conflicts and improving public safety.

Persons: Warren Buffett, Berkshire Hathaway, Buffett, Melinda Gates, Susan Thompson Buffett, Howard, Susan, Peter, Howard G, Bill Gates, Michael Bloomberg, Larry Ellison, Carl Icahn, Elon Musk, Mark Zuckerberg, Jonathan Stempel Organizations: Melinda Gates Foundation, Susan Thompson Buffett Foundation, Buffett Foundation, Sherwood Foundation, NoVo Foundation, BNSF, Apple Inc, Thomson Locations: Berkshire, Omaha , Nebraska, United States, Nebraska, New York

☆ Charitable giving declines in 2022 amid high inflation and slumping stocks
▼ + stars: | 2023-06-20 | by ( Tami Luhby | ) edition.cnn.com time to read: +2 min

New York CNN —Americans got less generous in 2022, as soaring inflation and the slumping stock market took a significant toll on charitable giving. When adjusted for inflation, giving in 2022 fell 10.5%. Notably, the S&P 500 plummeted toward the end of the year, when a large share of charitable giving takes place. Generous giving early in the pandemicLast year’s drop in donations comes after two very strong years of charitable giving. In 2022, individuals, who provide the largest share of giving, curtailed their donations even before adjusting for inflation.

Persons: Indiana University Lilly, ”, Amir Pasic Organizations: New, New York CNN, USA, Indiana University, Indiana University Lilly Family School of Philanthropy Locations: New York, Ukraine

☆ Parents are struggling at work or quitting altogether because of the childcare crisis. This map shows how bad it is for families in every state.
▼ + stars: | 2023-06-18 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +6 min

A new report from the Annie E. Casey Foundation finds that childcare is weighing on parents' jobs. BLS data shows many employed people miss work because of childcare issues. Those job changes, per the report, "include quitting a job, not taking a job or greatly changing a job in the previous year." An analysis by economist Clive R. Belfield estimated that, roughly, inadequate childcare costs the US $122 billion annually, with $78 billion of that loss coming from parental income. Did you have to quit your job, reduce your work hours, or make another job change because of childcare issues?

Persons: Annie E, —, that's, AECF, Lisa Hamilton, Hamilton, Rachel, Clive R, Patty Murray Organizations: Casey Foundation, Service, National Survey of Children's, US Women's Bureau, Department of Labor, DC, Center for American, Bureau, Labor, Survey, jkaplan Locations: Washington, Arizona, North Carolina, Vermont, , Nebraska, DC, Massachusetts, Connecticut

☆ China's Xi meets Bill Gates, calls him 'an old friend'
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +4 min

In a post on his personal blog, Gates said he and Xi had discussed global health and development challenges such as health inequity and climate change. Gates stepped down from Microsoft's board in 2020 to focus on philanthropy in the fields of global health, education and climate change. In early 2020, Xi wrote to Gates thanking him and the Bill & Melinda Gates Foundation for pledging assistance to China, including $5 million for its fight against COVID-19. Apart from meeting Xi, Gates gave a speech at the Global Health Drug Discovery Institute about the need to use technology to solve global health challenges during his visit. The Bill & Melinda Gates Foundation and the Beijing municipal government, which founded the institute with Tsinghua University, also pledged to each provide $50 million to bolster the institute's drug discovery capacity.

Persons: Xi's, Gates, Xi, Xi Jinping, Bill Gates, We've, Melinda Gates, Antony Blinken, Blinken, Qin Gang, Qin, Hong Kong Newsrooms, Brenda Goh, Christopher Cushing, Edwina Gibbs, Philippa Fletcher Organizations: Microsoft, Melinda Gates Foundation, COVID, U.S, Daily, Global Health Drug Discovery Institute, Tsinghua University, Thomson Locations: China, BEIJING, United States, Xi's, American, U.S, Beijing, Hainan province, Hong Kong

☆ Vogue's Anna Wintour, author Ian McEwan honoured by King Charles
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +1 min

LONDON, June 16 (Reuters) - Vogue editor-in-chief Anna Wintour, author Ian McEwan and immunologist and geneticist John Bell were named Companions of Honour, an order limited to 65 people at any time, in King Charles' first birthday honours list on Friday. McEwan, who was appointed to the order for services to literature, is the author of acclaimed novels including "Amsterdam", "Atonement" and "Enduring Love". More than 1,000 people were rewarded in the king's birthday honours for service in education, healthcare, philanthropy and other areas. King Charles, who was crowned in May, will celebrate his official birthday on Saturday with the "Trooping of the Colour" military parade. Reporting by Paul Sandle; Editing by Nick MacfieOur Standards: The Thomson Reuters Trust Principles.

Persons: Anna Wintour, Ian McEwan, immunologist, John Bell, King Charles ', Wintour, McEwan, King Charles, Paul Sandle, Nick Macfie Organizations: Vogue U.S, U.S . Metropolitan Museum, Art's Costume, University of Oxford, Oxford, AstraZeneca COVID, Thomson Locations: Amsterdam

Then, a deep dive into MrBeast and what his YouTube empire says about the future of the internet. Reddit came along and said, oh, we need to protect Reddit from the rise of these large language models. So I don’t think they’re totally out of the woods. But I don’t think people would say it was a golden age for how safe the platforms fell to use. But I want to challenge you on this, because I don’t necessarily think that it’s a bad thing if we have past peak trust and safety.

Persons: kevin roose, you’ve, casey newton, casey newton Yes, I’ve, there’s, kevin roose I’m, Kevin Roose, ” casey newton, Casey Newton, Casey, Reddit, casey newton Right, roose, Steve Huffman, you’re, Kevin, It’s, They’re, casey newton Well, they’ve, we’re, Huffman, “, Redditors, We’ve, Everyone’s, we’ve, I’m, let’s, Sam Walton, Max, kevin roose Hey, kevin roose Oh, kevin roose Max Read, MrBeast, it’s, Jimmy Donaldson, He’s, Willy Wonka, he’s, somethings, haven’t, kevin roose We’ll, We’ll, kevin roose She’s, she’s, kevin roose MrBeast, Jeremiah, jeremiah howard, Jeremiah Howard who’s, Jimmy, Burger, You’re, Stefan Molyneux, PewDiePie, Paul, Let’s, Raman, kevin roose It’s, MrBeast financials, doesn’t, Logan Paul, they’re, Vincent Miller, Jon Hamm’s, Matthew Weiner’s, kevin roose Max, Will, Max Read, ” kevin roose, casey newton Max, Robert F Kennedy, COVID, Kennedy, Instagram, Connor Roy, Marjorie Taylor Greene, Robert F Kennedy Jr, Elon, Donald Trump, We’re, Jim Jordan, kevin roose Totally, Alex Jones, casey newton Totally, Kate Kalanick, Trump, Tucker Carlson, aren’t, — casey newton, hasn’t, Rachel Cohn, Jen Poyante, Caitlin Love, Alyssa Moxley, Dan Powell, Elisheba Ittoop, Marion Lozano, Sofia Lanman, Rowan Niemisto, Paula Szuchman, Tam, Nell Gallogly, Kate LoPresi, Jeffrey Miranda Organizations: The New York Times, Twitter, YouTube, Lamborghini, Netflix, Walmart, News, Producers, Meta, Instagram, COVID, Democratic, Washington Post, Apple, Republicans, Facebook, 4chan, Republican Party, Trump, Fox News, Stanford, Davis Locations: Hawaii, Reddit, Greenville , North Carolina, hysterics, New Jersey, New York, Greenville, North Carolina, Central, United States, Bay, San Francisco, Stanford

☆ Salesforce insiders say that by wooing back former execs, Marc Benioff may finally feel comfortable enough to loosen his grip
▼ + stars: | 2023-06-12 | by ( Julie Bort | ) www.businessinsider.com time to read: +5 min

Salesforce CEO Marc Benioff has been wooing back former executives for years. Insiders say that those that know Benioff best may get him to loosen his grip. Salesforce founder and CEO Marc Benioff has spent years wooing former executives back to the company. Benioff has surrounded himself with people "that know how Salesforce works and know how Benioff works" one former exec explained. With all of that new blood from aquisitions washed away, Benioff seems to think Salesforce can move forward by going back.

Persons: Marc Benioff, Brian Millham, Millham, Salesforce, Benioff, he's, Miguel Milano, Ariel Kelman, Kendall Collins, Steve Fisher, Dave Moellenhoff, Jim Steele, Clara Shih, Marc, —, Larry Ellison, Benioff's, Keith Block, Bret Taylor, Slack, Stewart Butterfield, Mark Nelson, Julie Bort Organizations: Oracle, Twitter Locations: Salesforce

☆ Meet Alex Soros, the 37-year-old son of legendary investor George Soros: Once known for a highflying social life, he is now taking over a $25 billion empire.
▼ + stars: | 2023-06-12 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Alex Soros, the 37-year-old son of George Soros, has taken over the reins of his father's empire. He has turned his image around and is now at the helm of Soros' Open Society Foundations. Alexander Soros, the 37-year-old son of legendary investor George Soros, has taken over the reins of his father's empire in what is seen as a 180-degree departure from his previous playboy image. Alex — the elder son of George Soros and his second wife, historian Susan Weber — wasn't always in the pole position to take over the empire. An Open Society Foundations spokesperson confirmed to Insider that Alex has been named chair of the Open Society Foundations.

Persons: Alex Soros, George Soros, Alex, Alexander Soros, Alexander —, Alex —, George Soros's, Susan Weber — wasn't, Jonathan Soros, Soros, Joe Biden, Justin Trudeau, Dionysus, Heine, Nietzsche, Marx Organizations: Soros, Society, Soros Fund Management, Wall Street Journal, OSF, Wall Street, Open Society, Canadian, New York Times, New York, NBA, University of California, Biden White Locations: Southampton, —, Berkeley, Budapest

☆ Here are tax-savvy ways to donate money, according to a charitable giving expert
▼ + stars: | 2023-06-07 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

LAS VEGAS — Tax savings aren't typically the main reason for philanthropy. But if you're planning to donate money, certain charitable giving strategies provide a bigger tax benefit. Roughly 33% of taxpayers itemized deductions in 2017, compared with fewer than 10% in 2021, said Hoyt, speaking at the American Institute of Certified Public Accountants' annual conference in Las Vegas on Tuesday. Given these constraints, investors can maximize tax breaks by "bunching gifts," Hoyt said. "Concentrate your gifts in one year, as opposed to spreading them over several."

Persons: there's, Christopher Hoyt, Hoyt, Ivy League acceptances Organizations: VEGAS, University of Missouri, American Institute of Certified Public Accountants, Finance, Ivy League Locations: Kansas City, Las Vegas

☆ Here's how much it pays to control the fortunes of America's wealthiest people — and why it's escalating
▼ + stars: | 2023-06-06 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +3 min

Demand for access to private equity opportunities has contributed to big pay packages. While family offices have propped up across the globe, they are an American invention. J.P. Morgan is credited for launching the House of Morgan in the 1830s to manage family offices, and J.D. That means US family offices are often more mature and institutionalized than in other regions. Family offices need to be creative and competitive with the bonuses and other compensation perks of the private equity industry.

Persons: didn't, Morgan, Rockefeller, Jeff Bazos, Elon Musk, Jared Brichall Organizations: KPMG, Agreus, Waltons, Elon Locations: CIOs, Asia, Singapore, Europe, Middle East, Australia

☆ Dozens of transgender people in Florida are crowdfunding to flee the state, and they've raised more than $200,000
▼ + stars: | 2023-06-04 | by ( Thalia Beaty | Associated Press | ) www.businessinsider.com time to read: +7 min

Dozens of transgender people in Florida are using crowdfunding to help them flee the state. In addition to banning gender-affirming care for transgender minors, the law places new restrictions on adults seeking treatment. Chelf began making plans to leave the state after Florida legislation caused her to lose access to gender affirming care. A marked increase in fundraisers to help trans people leave FloridaPeople have given more than $200,000 since January to fundraisers on GoFundMe started by trans people seeking to leave Florida, according to data from the platform. Sage Chelf shows her GoFundMe campaign to move out of Florida in Orlando, Fla., May 27, 2023.

Persons: —, Sage Chelf, Chelf, Laura Bargfeld, I'm, GoFundMe, Jalen Drummond, Ron DeSantis, Laura Bargfeld That's, Una Osili, Indiana University Lilly, Elise Colomer, it's, Jasmine Beach Organizations: Service, AP, Williams Institute, University of California, Los Angeles School of Law, Indiana University, Indiana University Lilly Family School of Philanthropy, Southern Equality Locations: Florida, GoFundMe . Florida, Fla, Orlando, Orlando Fla, Chelf, Cheadle, Illinois, Ferrara

☆ Managers of the ultra-rich's fortunes are too afraid to ask them about succession plans
▼ + stars: | 2023-06-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +3 min

The majority of family offices don't have a wealth succession plan, according to a new UBS survey. One family office exec told UBS discussing inheritance is "very difficult." That revelation comes despite 63% of family offices acknowledging that supporting the generational transfer of wealth was their main purpose. However, I think it's safe to say that most rich people who establish a family office do it for a handful of reasons. Family offices did seem to agree on one thing: They won't be taking a pay cut.

Persons: Logan Roy wasn't Organizations: UBS, Swiss Locations: London

☆ Bill Gates: Here are ‘the 5 things I wish I was told at the graduation I never had’
▼ + stars: | 2023-05-13 | by ( Ashton Jackson | ) www.cnbc.com time to read: +5 min

Bill Gates never finished his undergraduate degree — the billionaire dropped out of Harvard University after three semesters to start Microsoft. Not much, personally, to be honest," Gates told students at Northern Arizona University's commencement ceremony on Saturday. If Gates had finished college, these are "the five things I wish I was told at the graduation I never had," he said. Gates did work at Microsoft for a long time: He was the company's CEO until 2000, and board director until 2014. 'Don't underestimate the power of friendship'One of Gates' biggest college regrets, he told Harvard students in 2018: Not being sociable enough.

☆ BlackRock is wrestling with who could succeed Larry Fink. Here's who's now in the running.
▼ + stars: | 2023-05-12 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +8 min

Investment giant BlackRock has been planning for CEO Larry Fink's succession for years. Leadership has discussed BlackRock cofounder Susan Wagner as someone who could succeed Fink if the board does not have a clear candidate. For years, BlackRock has been planning for Chief Executive Larry Fink's succession, a torch-passing the industry has long speculated over. BlackRock has become shorthand for the intense backlash from primarily Republican lawmakers over sustainable investment strategies that Fink has championed as CEO. Goldstein, 49, is a BlackRock lifer and has been chief operating officer for nearly a decade.

☆ 6 ways companies can attract Gen Z job seekers and how to keep them happy, according to a talent expert
▼ + stars: | 2023-05-08 | by ( Alli Hoff Kosik | ) www.businessinsider.com time to read: +7 min

The current hiring market is competitive, but companies can take steps to attract Gen Z job seekers. When looking for job opportunities, Gen Zers — those currently under the age of 26 — will be attentive to things that may not have been prioritized by previous generations. Talent-development expert Chelsea Williams, whose national workforce and development company Reimagine Talent works closely with many Gen Z professionals, shared six things companies need to prioritize in order to stand out to Gen Z job seekers. Connect job applicants with new Gen Z hires as much as you can during the interview and hiring process. Gen Zers want to see that you're changing things up — and you'll find stronger applicants when you do.

☆ Five ways the rich save big on estate taxes, from putting houses in trusts to buying offshore life insurance
▼ + stars: | 2023-05-08 | 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. Private-placement life insurance, or PPLI, can be used to pass on assets from stocks to yachts to heirs without incurring any estate tax. The assets in the trust are treated as premiums, and if structured correctly, the benefit and assets in the policy are bequeathed free of 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.

☆ Factbox: Warren Buffett, Berkshire Hathaway at a glance
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +8 min

[1/2] Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc's annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. REUTERS/Scott Morgan/File PhotoMay 4 (Reuters) - Tens of thousands of people are descending on Omaha, Nebraska to attend the annual shareholder weekend for billionaire investor Warren Buffett's Berkshire Hathaway Inc (BRKa.N). Susan Buffett and Howard Buffett are Berkshire directors. His Berkshire stock will go to philanthropy after he dies. (Interview with CNBC, April 12, 2023)Abel on Berkshire managers' relationship with him: "It's not the same as working for Warren.

☆ Jeffrey Epstein Documents, Part 2: Movie Screenings With Woody Allen and Dinners With Larry Summers
▼ + stars: | 2023-05-03 | by ( Khadeeja Safdar | David Benoit | ) www.wsj.com time to read: 1 min

Lawrence Summers wanted $1 million to fund an online poetry project his wife was developing. The former Treasury secretary and onetime Harvard University president turned to Jeffrey Epstein . “I need small scale philanthropy advice. My life will be better if i raise $1m for Lisa,” Mr. Summers said in an email to Epstein in April 2014, referring to his wife, Elisa New, a Harvard professor. “Mostly it will go to make it a pbs series and for teacher training.

☆ Benioff vs. Benioff
▼ + stars: | 2023-04-28 | by ( Ashley Stewart | Ellen Thomas | ) www.businessinsider.com time to read: +29 min

Within Salesforce, Benioff riffs are at times met with backlash from an angry workforce. "You're not going to fire your family during times of need," a former Salesforce executive told Insider. "I don't think they understand Ohana," Benioff told Insider. "Look, we have to be the example of stakeholder capitalism," Benioff told Insider. A 'New Day' at Salesforce"I use the Japanese principle of shoshin, beginner's mind," Benioff told Insider in a phone interview in March.

☆ Sam Altman is building his utopia, whether you want it or not
▼ + stars: | 2023-04-27 | by ( Melia Russell | Julia Black | ) www.businessinsider.com time to read: +41 min

Altman told Insider, "We debate our approach frequently and carefully." "I don't think anyone can lose your dad young and wish he didn't have more time with him," Altman told Insider. Altman told Insider that his thinking had evolved since those posts. (When asked about guns, Altman told Insider he'd been "happy to have one both times my home was broken into while I was there.") When asked about this, Altman told Insider in an email: "i can guess what that's about; these stories grow crazily inflated over the years of getting re-told!

☆ He's played chess with Peter Thiel, sparred with Elon Musk and once, supposedly, stopped a plane crash: Inside Sam Altman's world, where truth is stranger than fiction
▼ + stars: | 2023-04-27 | by ( Melia Russell | Julia Black | ) www.businessinsider.com time to read: +41 min

But, "you do at some point need to start having contact with reality," he told Insider. The plan was still only a rough sketch, Blania told Insider, but that didn't seem to matter to his host. "He always wanted to understand everything at a very deep level," Thrun told Insider in an email. (When asked about guns, Altman told Insider he'd been "happy to have one both times my home was broken into while I was there.") When asked about this, Altman told Insider in an email: "i can guess what that's about; these stories grow crazily inflated over the years of getting re-told!

☆ Nazi Cloud Hangs Over One of the Largest Jewelry Sales in History
▼ + stars: | 2023-04-27 | by ( Zachary Small | ) www.nytimes.com time to read: +1 min

One standout piece, the “Briolette of India,” includes a 90-carat diamond and carries a high estimate of $7.8 million. They are among the 700 jewels from the estate of an Austrian heiress that will go on sale at Christie’s on May 3 as part of one of the largest jewelry sales in history. The proceeds are to benefit a charitable foundation established by Horten, whose husband, Helmut, was a German retailing billionaire whose specialty was department stores. “It’s one of the most beautifully curated collections that will ever come up in the jewelry world,” said Anthea Peers, president of Christie’s Europe, Middle East and Africa. That’s important for the estate and for us.”

☆ Opinion | The Harry Belafonte Speech That Changed My Life
▼ + stars: | 2023-04-25 | by ( Charles M. Blow | ) www.nytimes.com time to read: +1 min

In the summer of 2013, I participated in a daylong series of talks at the Ford Foundation in Midtown Manhattan. The event, the Road Ahead for Civil Rights: Courting Change, was meant to mark the semicentennial of the civil rights movement. My panel was in the morning, but I stayed for the lunch session because Harry Belafonte was participating in it, along with the activist Dolores Huerta. I didn’t know the Belafonte my parents knew, the young, handsome calypso singer. But there were no notes that I could see; we were witnessing the brilliance of Belafonte in real time.

☆ Richard Riordan, Mayor of an Uneasy Los Angeles, Dies at 92
▼ + stars: | 2023-04-20 | by ( Katie Hafner | ) www.nytimes.com time to read: +1 min

Richard J. Riordan, a Queens-born lawyer, businessman and former mayor of Los Angeles who led the city at a particularly divisive time and brought a free-enterprise approach to rebuilding the city’s infrastructure after a devastating earthquake in 1994, died on Wednesday at his home in the Brentwood section of Los Angeles. Mr. Riordan, whose unfiltered speech occasionally got him into trouble, began his career in business and turned to politics later in life. He was elected mayor in 1993, in his first effort at electoral politics, and served until 2001, prevented by term limits from seeking a third term. A moderate Republican, Mr. Riordan came to politics in 1992, when it became clear that Tom Bradley, the Democratic five-term incumbent mayor, would not seek re-election. Mr. Riordan, then 62, was encouraged by friends to run, in part because of his solid ties across the political spectrum.

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