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Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

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Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Volkswagen

Top Volkswagen exec to appear before a congressional panel next week

By
Benjamin Snyder
Benjamin Snyder
Managing Editor
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By
Benjamin Snyder
Benjamin Snyder
Managing Editor
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October 2, 2015, 2:06 PM ET
US-DETROIT-AUTO-SHOW
Michael Horn, President and CEO of Volkswagen Group of America, speaks at a press event on the eve of The North American International Auto Show in Detroit, Michigan, on January 11, 2015. The annual car show takes place amid a surging economy, more jobs and cheap gas, a trifecta of near-perfect conditions for the US auto industry. The Show expects a million visitors to descend on bone-chilling Detroit between January 17 and 25. AFP PHOTO/Geoff Robins (Photo credit should read GEOFF ROBINS/AFP/Getty Images)Photograph by Geoff Robins — AFP/Getty Images
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Michael Horn, Volkswagen’s top U.S. executive, will testify before a congressional oversight panel due to the German automaker’s emissions scandal.

In September, news came to light that 11 million Volkswagen cars around the world had software, dubbed “defeat devices,” installed to make diesel emissions appear lower than in actuality.

A panel spokesman told Reuters that the House Energy and Commerce Committee will hold the panel on Oct. 8. It is also slated to hear from the U.S. Environmental Protection Agency.

“The American people want to know why these devices were in place, how the decision was made to install them, and how they went undetected for so long. We will get them those answers,” said U.S. Representative Tim Murphy of Pennsylvania. He will be at the hearing as chairman of the Energy and Commerce Subcommittee on Oversight and Investigations, Reuters reported.

Volkswagen is reportedly holding $7.2 billion aside to cover costs related to the scandal.

The EPA, meanwhile, has widened the probe to include other automakers in an effort to deduce whether Volkswagen is the only car brand to have cheated the system.

About the Author
By Benjamin SnyderManaging Editor
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Benjamin Snyder is Fortune's managing editor, leading operations for the newsroom.

Prior to rejoining Fortune, he was a managing editor at Business Insider and has worked as an editor for Bloomberg, LinkedIn and CNBC, covering leadership stories, sports business, careers and business news. He started his career as a breaking news reporter at Fortune in 2014.

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