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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

1

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
HealthSmoking

Cigarette smoking plunges to the lowest level in half a century as people pivot to vaping and healthier lifestyles

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Ilena Peng
Ilena Peng
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Bloomberg
Bloomberg
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May 4, 2023, 3:40 PM ET
Cigarette smoking is declining.
Cigarette smoking is declining. Justin Tallis—AFP/Getty Images
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Cigarette smoking rates sank to their lowest US level in more than half a century, according to the latest government figures, although tobacco use remained high as consumers pivot to alternative products.

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Just 11.5% of Americans regularly lit up cigarettes last year, better than the 12% goal set by the US government’s Healthy People 2020 plan and the lowest level since 1965, according to a report from the Centers for Disease Control and Prevention. Still, about one in five adults reported using a tobacco product in 2021, nearly unchanged from the previous year, with e-cigarette use rising to 4.5%.

Companies including Marlboro maker Philip Morris International Inc. have contributed to the shift in tobacco consumption, expanding into smoke-free nicotine alternatives as cigarette use declines. The number of e-cigarette products, which include Imperial Brands Plc’s Blu vapes and Juul from formerly Altria Group Inc.-backed Juul Labs Inc., more than quadrupled in a year from June 2021 to 2022, according to a Truth Initiative analysis. 

The products have become popular among kids and young adults, in part because of a perception that e-cigarettes are less harmful than cigarettes. The use of creative flavors has also led to charges that the manufacturers deliberately court the youth market.   

E-cigarettes are also used by those who are looking for a traditional cigarette substitute or are trying to quit, though no e-cigarette has been shown to safely help people quit. About a third of people who reported using multiple tobacco products smoked both cigarettes and e-cigarettes, the study said.

While cigarettes’ popularity has steadily declined since the 1960s, their use remains high in certain populations, including those with low incomes and living in rural areas, according to the study. Those disparities should be addressed through strategies like increasing product prices, running educational campaigns and regulating products, researchers said.

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
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