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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
Leadership

About 86,500 Sought Federal Aid After Louisiana Floods

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August 20, 2016, 2:53 PM ET
Louisiana floods 2016
TOPSHOT - A truck is seen in a flooded parking lot on August 15, 2016 in Denham Springs, Louisiana. Floods ravaged the US state of Louisiana, leaving six people dead and thousands more forced to flee rising waters after days of catastrophic rainstorms. / AFP / Brendan Smialowski (Photo credit should read BRENDAN SMIALOWSKI/AFP/Getty Images)Brendan Smialowski — AFP/Getty Images
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Some 86,500 people have filed for federal aid after deadly flooding hit Louisiana in the past several days and damaged some 40,000 homes, Governor John Bel Edwards told a news conference on Thursday.

He said the death toll from the flooding stood at 13 people and about 30,000 people have been rescued from the floods. Rainfall hit historic levels in some parts of the state.

“In Louisiana, taking care of one another is a way of life. We are on our way from response to recovery,” Edwards said.

Waters have receded in many deluged areas with thousands of people returning to flood-hit homes to rip out soaked carpet and dump water-logged mattresses.

Many residents said they lost almost everything they owned.

As of Thursday, about 4,000 people were in shelters.

How the “Cajun Navy” is Using Tech To Rescue Flood Victims

Rains that started last Thursday have dumped more than 2-1/2 feet (0.76 meters) of water on parts of Louisiana.

The Federal Emergency Management Agency was on the ground and processing claims for help.

FEMA Administrator Craig Fugate said his agency was preparing for “a very large response” to help flood victims and the immediate issue was finding a safe place for affected residents to stay.

“A lot of people didn’t have flood insurance,” he said in an interview with MSNBC on Thursday, adding he had spoken on Wednesday with President Barack Obama about recovery efforts.

Trump Visits Baton Rouge, Despite Governor’s Request Not To

Louisiana Commissioner of Administration Jay Dardenne said on Thursday the flooding has made it more likely the state would rely on a short-term bank loan to shore up government funding.

The state had anticipated the need for cash flow borrowing before the flooding, the governor’s office said.

Louisiana is grappling with years of unresolved structural budget deficits that have collided with a weakening state economy and a sharp drop in revenues from oil and gas extraction taxes.

The state believes it ended the last fiscal year with a deficit that must be closed this year. It is also grappling with a potential $1.5 billion budget gap for the next budget year of 2018-19.

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