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☆ Musk donated around $1.95 billion in Tesla shares last year
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +1 min

[1/2] Tesla CEO Elon Musk and his security detail depart the company’s local office in Washington, U.S. January 27, 2023. REUTERS/Jonathan ErnstFeb 14 (Reuters) - Tesla chief executive Elon Musk donated shares worth $1.95 billion in the world's most valuable automaker to charity last year, a filing with the U.S. Securities and Exchange Commission (SEC) showed on Tuesday. Musk donated about 11.6 million shares between August and December last year, according to the filing, which did not say which organization or organizations were the recipients. Musk donated about $5.74 billion in 2021. Analysts have said that Musk might benefit from gifting Tesla stock if he donated it to charity, since shares donated to charities do not have to pay capital gains tax, as they would if they were sold.

☆ Bill and Melinda Gates: Here's a look inside their 27-year marriage, from meeting at work, to spending $45 billion on philanthropy, to their 2021 divorce
▼ + stars: | 2023-02-09 | by ( Áine Cain | Allana Akhtar | Azmi Haroun | ) www.businessinsider.com time to read: +1 min

Bill Gates, the founder of Microsoft, announced he and his wife, Melinda, divorced in 2021. The two ran the Bill & Melinda Gates Foundation, which had an endowment of $49.8 billion in 2019. "After a great deal of thought and a lot of work on our relationship, we have made the decision to end our marriage," Bill Gates said in a tweet. Bill and Melinda Gates had been married since 1994, raised three kids, were worth $130.5 billion, and ran a namesake philanthropic enterprise boasting a $49.8 billion endowment. Here's a look at the marriage between Bill and Melinda:

☆ How companies are trying to help victims of the earthquake in Turkey and Syria
▼ + stars: | 2023-02-08 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +4 min

London CNN —Companies around the world are racing to provide help to the victims of the devastating earthquake straddling Turkey and Syria, by donating food, medicines, services and cash. Hamdi Ulukaya has donated $1 million to an earthquake relief fund set up by Turkish Philanthropy Funds, the US-based donor organization has said. please donate to @tphilanthropy earthquake relief and recovery efforts. The aid organization is working to help people in Turkey and Syria affected by the quake. Aid agencies are particularly worried about victims in northwestern Syria, where more than 4 million people were already relying on humanitarian assistance.

☆ How top banks like JPMorgan and Morgan Stanley train young wealth managers to work with ultra-rich clients
▼ + stars: | 2023-02-08 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

Private banks cater to the wealthiest clientele, who typically have at least $10 million in assets. David Frame, CEO of the private bank, is doubling down on a recruiting push. JPMorgan aims to hire as many as 1,500 new private bank advisors over the next few years, which would double its current headcount. After three years of working for Goldman Sachs, about 25 to 40 analysts from the bank's private wealth division are handpicked for its advisory program. The course culminates with three case studies that involve portfolio strategy and estate planning, as well as a written and oral exam.

☆ Facebook co-founder Moskovitz funds research into cooling the Earth with sunlight reflection
▼ + stars: | 2023-02-07 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +9 min

(It's sometimes called solar radiation modification or solar geoengineering.) But it's potentially important, it could be very, very helpful, it could be disastrous," Stone told CNBC. And so it goes for solar geoengineering," Stone said. Everyone perceives it to be controversial," Camilloni told CNBC. "This is no one's Plan A for how you deal with climate risk, and whatever happens, we have to cut our emissions," Stone told CNBC.

☆ Bill Gates says Elon Musk's ambition to colonize Mars is not a good use of money
▼ + stars: | 2023-02-03 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Bill Gates questioned whether Elon Musk's current priorities would make him a good philanthropist, taking issue with his fellow billionaire's ambition to send people to Mars. Gates responded saying he doesn't think Musk is one currently but that this may change in future. Asked by BBC journalist Amol Rajan if going to Mars was a good use of money, Gates said: "Not in my view." In April, Musk said he asked Gates if he was short-selling Tesla — in other words, betting that the price of the electric carmaker's stock would fall. In a Bloomberg interview also in February 2021, Gates said that he wished he had "been more on the long side" of Tesla when asked about Musk's claims.

☆ Bill Gates said he'd rather fund vaccines to 'save lives' than go to Mars, but he thinks someday Elon Musk will be a 'great philanthropist'
▼ + stars: | 2023-02-03 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

Bill Gates told the BBC he does not think traveling to Mars is a good use of money. The Bill & Melinda Gates Foundation, the nonprofit founded by Gates and his ex-wife Melinda French-Gates, has put billions of dollars towards researching, developing, and delivering vaccines to the world's poorest countries. Last year, Musk made a $5.7 billion charitable donation in Tesla shares to the Musk Foundation, which he launched with his brother, Kimball Musk, in 2002. Gates and Musk have publicly disagreed in the past, including on COVID-19, how to address climate change, and space travel. Musk and the Bill & Melinda Gates Foundation did not immediately respond to Insider's request for comment.

☆ Mark Zuckerberg just ushered in a new era of tech, where profitability and efficiency trump perks and culture
▼ + stars: | 2023-02-02 | by ( Matt Weinberger | ) www.businessinsider.com time to read: +6 min

Mark Zuckerberg says this will be the "year of efficiency" at Meta, signaling more cuts ahead. His comments reflect a new reality for tech: The era of deep pockets and endless perks is over. Enter Mark Zuckerberg, CEO of Facebook's parent company Meta, who officially rang in the new era on Wednesday when he declared that 2023 would be the "year of efficiency" at the social network. Instead of throwing money and manpower at problems, Zuckerberg shows that Meta is now learning to live within its means. For those who remain, perks will be stripped back as a new culture of efficiency upends the tech office culture to which they've grown accustomed over the last two decades or so.

☆ TikTok's opposite approach to Instagram is winning the social media race.
▼ + stars: | 2023-02-02 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

This is pretty bleak for tech workers who were living large this time last year. TikTok's algorithm takes an opposite approach with spontaneous discovery, keeping users engaged for longer — and less likely to check Instagram. This creates a Catch-22 for the company, Chris adds. Its original model successfully captured a loyal and engaged audience, but is now an outdated approach for a social media platform. The chicken spot's snaking drive-thru made it a hazard to pedestrians, so a local North Carolina city ordered its demolition.

☆ Late Subway co-founder's stake donated in potential tax shield
▼ + stars: | 2023-02-01 | by ( Abigail Summerville | ) www.reuters.com time to read: +2 min

It will shield both the estate and the foundation from a big tax bill were Subway to be sold. Reuters reported in January that Subway was exploring a sale with the help of a financial adviser. A Subway spokesperson said the company does not comment on ownership structure and business plans. Buck, who was a nuclear physicist, and co-founder Fred DeLuca started Subway in 1965 after DeLuca asked Buck for advice on how to pay for his college tuition. Reporting by Abigail Summerville in New York; Editing by Anirban Sen and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

☆ Meta exec warns philanthropy and worker perks can 'create drag' on a company. 'You must be willing to focus and prioritize.'
▼ + stars: | 2023-02-01 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Meta CTO Andrew Bosworth said he misses the days when the company was more focused. In a blog post, he called out the firm's philanthropy and worker perks as areas that could "create drag." Bosworth and a spokesperson for Meta did not respond to a request for comment regarding the company's charitable donations. The tech chief said this "pernicious problem" has even higher stakes than the shift toward charitable donations. Meta has more than halved its value since the company changed its name and Zuckerberg announced the company was pivoting to focus on the metaverse.

☆ Google's ex-CEO Eric Schmidt tapped for federal biotech commission that allows members to keep biotech investments
▼ + stars: | 2023-01-31 | by ( Eamon Javers | ) www.cnbc.com time to read: +7 min

On Dec. 30, leaders of the House and Senate Armed Services committees announced the selection of former Google CEO Eric Schmidt and 11 others to serve on a new federal commission on biotechnology. The appointment, however, doesn't require commission members to divest their own personal biotech investments — even as they help shape U.S. policy overseeing the industry. The person didn't say when Schmidt made the decision to donate profits, adding that he hasn't yet named any recipient charities. The new federal commission will likely have a say in steering such investments over the two years of its lifetime. Schmidt's biotech investments are relatively recent.

SINGAPORE, Jan 31, (Reuters) - Like many rich Chinese, graduate student Zayn Zhang thinks Singapore could be ideal to park his family's wealth. His family might establish a Singapore family office to manage its wealth in the future, he added. Well-known Singapore family offices include those set up by James Dyson of vacuum cleaner fame, hedge fund manager Ray Dalio and Zhang Yong, founder of China's Haidilao hotpot restaurant chain. Though fresher statistics are not available, those involved in the industry said interest in family offices picked up in 2022 and is expected to continue unabated this year. While some are setting up family offices, others are setting up business headquarters in Singapore or investing in funds domiciled in Singapore, she said.

☆ YouTuber MrBeast gifts eye surgery and a Tesla to man whose eyesight was so bad he could never drive
▼ + stars: | 2023-01-30 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +3 min

YouTuber MrBeast paid for 1,000 blind and near-blind people to receive cataract removal surgery. The surgery, which can cost between $3,000 and $5,000 per eye, takes only 10 minutes to complete. One man who couldn't drive because of his bad eyesight was also gifted a red Tesla. In his latest YouTube video, MrBeast, whose real name is Jimmy Donaldson, paid for 1,000 blind and near-blind people all over the world to receive surgery. On top of the cataract surgery that the video describes, some patients received gifts, like $10,000 in cash or $50,000 for a college fund.

☆ This startup that connects conservation projects with funders just raised $8 million. Check out the 30-slide pitch deck Lemu used to secure the fresh capital.
▼ + stars: | 2023-01-30 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

A startup hoping to channel more cash into conservation via its app just raised $8 million. Chilean startup Lemu is developing a marketplace that ranks conservation projects on priority and impact. A Chilean startup connecting conservation projects with funders just raised $8 million. It plans to list and rank high-priority and high-impact conservation projects in the hope that the app's users will donate money, or "invest," in them. It will have two ranking features: LemiImpact, a local-level impact ranking based on potential project outcomes, and LemuRank, which is a global ranking of high-priority conservation efforts.

☆ Bill Gates says he shouldn’t have had dinners with Jeffrey Epstein
▼ + stars: | 2023-01-30 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —Microsoft founder Bill Gates said he “shouldn’t have had dinners” with Jeffrey Epstein during an interview with Australia’s ABC 7 .30. But Gates had told CNN he only had dinners with him for potential philanthropic opportunities. Presenter Sarah Ferguson grilled Gates, asking if he “regrets the relationship he maintained” with Epstein, going against his ex-wife Melinda Gates’ advice. “You’re going way back in time,” Gates said, adding he’s said this “over the hundredth time.”“I shouldn’t have had dinners with him,” Gates responded. “It’s a time of reflection, and at this point, I need to go forward,” Gates told CNN in 2021.

☆ Inside homebuilding heir Bill Pulte's battle against a Twitter troll who turned out to be an executive at his former company
▼ + stars: | 2023-01-27 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +6 min

Bill Pulte, the grandson of one of the homebuilding industry's most successful founders, has built a Twitter following of 3.2 million. He's such a believer in Twitter that the Pulte family office participated in Tesla CEO Elon Musk's bid for control, with an investment he says in the "millions of dollars." Pulte alleges that Jones used Twitter bots to harass him and the larger Pulte family with damaging, incendiary accusations, including that his father, Mark Pulte, was an arsonist. Additionally, he said Sheldon's account appeared to have interacted with at least one of Jones' Twitter accounts. With his suspicion that multiple executives were involved in the Twitter harassment, Pulte's digging in his heels.

☆ Jeff Bezos' girlfriend said he gave her a 'master class' in management and running meetings: 'You're the boss. You talk last.'
▼ + stars: | 2023-01-26 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Lauren Sánchez says Jeff Bezos gives her a "master class" in management and meetings every day. Sánchez told The Wall Street Journal his best advice was to let others speak first. Sánchez said that the best business advice Bezos has given her was to avoid talking too soon in meetings. You let everyone else talk so that they don't get swayed by your opinion,'" Sánchez told the publication. Bezos' business advice echoes the sentiments of experts.

☆ Foundation empties coffers to fund Black paper in Baltimore
▼ + stars: | 2023-01-19 | by ( The Associated Press | ) www.nbcnews.com time to read: +8 min

She and Brandon Soderberg, a former Baltimore City paper editor, had tried to launch a new paper, the Baltimore Beat, but the publishing company that supported it pulled the plug. Decades ago, the Holofceners left Baltimore for the suburbs, like thousands of other white families, leaving the city with a depleted tax base. The large grant is an attempt to counter the idea that “any giving is good giving,” Holofcener says. “There’s a real opportunity for us to engage.”The problem was that none of the cousins actually had any say over how the family foundation doled out money. Instead, the pause gave the paper and the family time to thoroughly nail down their plans.

☆ Steve Jobs' nepo babies: From a model to a secret daughter, here's everything we know about the Apple cofounder's kids
▼ + stars: | 2023-01-19 | by ( Grace Kay | Aaron Mok | ) www.businessinsider.com time to read: +12 min

Steve Jobs left the bulk of his fortune to his wife, Laurene Powell Jobs, when he died in 2011. Later, he had Reed Jobs, Erin Jobs, and Eve Jobs with his wife, Laurene Powell Jobs. Apple, Laurene Powell Jobs, and Reed Jobs did not reply to requests for comment, nor did representatives for Lisa Brennan-Jobs and Eve Jobs. Since Jobs' death, Powell Jobs has been active in philanthropy and founded Emerson Collective in 2004 as a "social change organization." Erin Siena JobsErin Siena Jobs is the most private of Steve Jobs' children.

☆ 4 ways to pay for the climate crisis, according to Al Gore and other leaders at Davos
▼ + stars: | 2023-01-18 | by ( Freya Graham | ) www.businessinsider.com time to read: +6 min

Panel speakers said philanthropy is often overlooked when thinking about the climate finance gap and that it could act as vital leverage. Michael Wilkins, executive director and professor of practice at the Centre for Climate Finance & Investment at Imperial College Business School, welcomed the comments made by panelists at Davos. "Philanthropy has been crucial in research and development for climate finance and its development," Wilkins told Insider. "The private sector has to join the public sector," Gore said. The solution is not just about scaling up climate investment, though, according to Gore.

☆ 'Not right' for us to be key global health funder -Gates CEO
▼ + stars: | 2023-01-17 | by ( Jennifer Rigby | ) www.reuters.com time to read: +2 min

[1/3] Mark Suzman, Chief Executive Officer (CEO) of the Bill & Melinda Gates Foundation, speaks during an interview with Reuters at the COP27 climate summit in Egypt's Red Sea resort of Sharm el-Sheikh, Egypt, November 7, 2022. REUTERS/Emilie MadiCompanies Bill & Melinda Gates Foundation Trust FollowLONDON, Jan 17 (Reuters) - It is not right for the Bill & Melinda Gates Foundation to play such a big role in global health funding, but the group will not back away until others step up, its chief executive said. The Gates Foundation has faced criticism that it has too much power and influence in the global health realm, including within the World Health Organization, without the requisite accountability. "It's not right for a private philanthropy to be one of the largest funders of multinational global health efforts," he said, adding that countries ought to be leading the charge. Suzman said the aim of the fund was not to set the agenda for the WHO or other global health groups, but to provide them with better options and data as they make key decisions.

☆ Melinda French Gates Adjusts to a New, Solo Role
▼ + stars: | 2023-01-06 | by ( Betsy Mckay | Emily Glazer | ) www.wsj.com time to read: 1 min

Melinda French Gates met recently with a group of fellow philanthropists to stress a need to cure what she calls one of America’s greatest ills. “We have to fix this country’s broken caregiving system,” Ms. French Gates said to the virtual session in November with wealthy people who have signed the Giving Pledge, promising to donate more than half of their fortunes to charitable causes. Philanthropy and new policies are needed, she said, “if we want to see more women unlock real power in their lives.”

☆ Cannabis org The Parent Company establishes restructured partnership with Jay-Z's Roc Nation and SC Branding
▼ + stars: | 2023-01-05 | by ( John Lynch | ) www.businessinsider.com time to read: +6 min

The Parent Company and Jay-Z's Roc Nation and SC Branding have established a revised strategic agreement to restructure their partnership, the companies announced to Insider. Jay-Z, Roc Nation, and their affiliates will return approximately 7.1 million common shares of The Parent Company "to preserve shareholder value," the companies said. Through the agreement, The Parent Company will have an eight-year exclusive license to distribute Monogram, Jay-Z's cannabis line, in California. "We are excited for the continued growth of The Parent Company and our future together in the cannabis industry." Desiree Perez, CEO of Roc Nation, added, "We're eager to work alongside The Parent Company in this progressive capacity.

☆ Jeff Bezos has called work-life balance a 'debilitating phrase,' and says work and life are actually a circle
▼ + stars: | 2022-12-30 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +2 min

In 2018, Amazon founder Jeff Bezos called "work-life balance" a "debilitating phrase." The billionaire and former Amazon CEO taught employees that work and life are a circle. Bezos said the reality is if he is happy at home, he has "tremendous energy" in the office. "I get asked about work-life balance all the time," Bezos told Axel Springer CEO Mathias Döpfner. And if he's happy at work, Bezos said he comes home with the same energy.

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