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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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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
PoliticsJoe Biden

Biden explains decision to step aside: ‘It’s not about me, it’s about you.’

By
Zeke Miller
Zeke Miller
,
Seung Min Kim
Seung Min Kim
,
Will Weissert
Will Weissert
, and
The Associated Press
The Associated Press
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By
Zeke Miller
Zeke Miller
,
Seung Min Kim
Seung Min Kim
,
Will Weissert
Will Weissert
, and
The Associated Press
The Associated Press
Down Arrow Button Icon
July 24, 2024, 8:42 PM ET
Joe Biden and Kamala Harris
President Biden addressed the American public on Wednesday. Photo by Kevin Dietsch/Getty Images
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Insisting that “the defense of democracy is more important than any title,” President Joe Biden on Wednesday explained in an Oval Office address his decision to drop his bid for reelection and to throw his support behind Vice President Kamala Harris.

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The address offered the public their first chance to hear directly from Biden his rationale for dropping out of the 2024 after weeks of insisting he believed himself to be the best candidate to take on former President Donald Trump, whom he has called an existential threat to the nation’s democracy. It also gave Biden a chance to try to shape how history views his one and only term in office.

“The defense of democracy is more important than any title,” Biden said. “Nothing, nothing can come in the way of saving our democracy. And that includes personal ambition.”

Said Biden, “I revere this office, but I love my country more.” He added that his decision to bow out was made in good faith. “It’s not about me, it’s about you.”

Biden’s candidacy faced a crisis of confidence from Democrats after his abysmal debate against Trump nearly a month ago, where he spoke haltingly, appeared ashen and failed to rebut his predecessor’s attacks. It sparked a mutiny within his party over not just whether he was capable of beating Trump in November, but also whether at 81, he was still fit for the high-pressure job.

Biden tried to outlast the skepticism and quell the concerns with interviews and tepid rallies, but the pressure to step aside only mounted from the party’s political elites and from ordinary voters.

On Sunday afternoon, while isolating at his Rehoboth Beach, Delaware, home with COVID-19, Biden finally bowed in a letter posted to his account on X announcing his decision to leave the race, followed up later by an endorsement of Harris.

“I have decided the best way forward is to pass the torch to a new generation,” Biden said, saying he wanted to make room for “fresh voices, yes, younger voices.”

He added, “That is the best way to unite our nation.”

Biden’s address was being carried by the major broadcast and cable news networks. He pledge to remain focused on being president until his term expires at noon on Jan. 20, 2025, saying he would work to end the war between Israel and Hamas in Gaza, fight to boost government support to cure cancer, and call for Supreme Court reform.

The president was hoping to use the address to outline the stakes in the election, which both Biden and Harris have framed as a choice between freedom and chaos, but he tried to steer clear of overt campaigning from his official office and never mentioned Trump by name.

“The great thing about America is here, kings and dictators do not rule,” Biden said. “The people do. History is in your hands. The power is in your hands. The idea of America — lies in your hands.”

Biden was also looking to make the case for his legacy of sweeping domestic legislation and the renewal of alliances abroad. The way history will remember his time in office and his historic decision to step aside is intertwined with Harris’ electoral result in November, particularly as the vice president runs tightly on the achievements of the Biden administration.

His advisers say he intends to hold campaign events and fundraisers benefiting Harris, albeit at a far slower pace than if he had remained on the ballot himself.

Harris advisers will ultimately have to decide how to deploy the president, whose popularity sagged as voters in both parties questioned his fitness for office.

Biden, aides say, knows that if Harris loses, he’ll be criticized for staying in the race too long and not giving her or another Democrat time to effectively mount a campaign against Trump. If she wins, she’ll ensure his policy victories are secured and expanded, and he’ll be remembered for a Washingtonian decision to step aside for the next generation of leadership.

Press secretary Karine Jean-Pierre said Wednesday that any question of Biden resigning his office — which would allow Harris to run as an incumbent — was “ridiculous.”

Jean-Pierre said Biden has “no regrets” about his decision to stay in the race as long as he did, or his decision to quit it over the weekend. She said Biden’s decision had nothing to do with his health.

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