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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

1

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

2

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

3

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

Women battle efforts to sideline them from health care and the AI revolution

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October 16, 2024, 8:40 PM ET
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Day 3 of Fortune‘s Most Powerful Women Summit featured a lineup of entrepreneurs and other heavy hitters who are hacking to bits the hurdles facing women at work and home, along with the challenges of being a young adult.

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As more teen girls experiment with their appearance after observing trends—some of them unrealistic—on TikTok, for instance, Sephora North America CEO Artemis Patrick said the company is eyeing the creation of more age-appropriate skincare, reported Fortune‘s Alexa Mikhail.

“We’re not comfortable putting young kids selling retinol in our window,” she said, referencing an instance where they changed a brand’s model who felt too young for the product. 

Artemis Patrick and Michal Lev-Ram
Sephora President and CEO Artemis Patrick on the main stage at Day 3 of MPW 2024.
Kristy Walker for Fortune

Indeed, inspiration is extending beyond adapting businesses to meet the needs of young adults. Christy Turlington Burns founded Every Mother Counts after she suffered a hemorrhage following the birth of her daughter 21 years ago. Now, Burns is working to advocate for women who need medical care following the reversal of Roe v. Wade. There is an expectation that there will be an increase in maternal mortality, particularly for Black women, Burns said on Wednesday.

“Motherhood is the final fight for gender equality,” explained Reshma Saujani, founder of Moms First and Girls Who Code.

Christy Turlington Burns and Reshma Saujani
Reshma Saujani, Founder and CEO, Moms First; Founder, Girls Who Code and Christy Turlington Burns, Founder and President, Every Mother Counts on main stage at MPW 2024.
Kristy Walker for Fortune

Other women are fighting—and winning—the battle against efforts to trample funding focused on women in the venture capital realm. Fearless Fund CEO Arian Simone and Hello Alice president and cofounder Elizabeth Gore both faced off with conservative groups that argued their funding of Black-owned businesses was discriminatory. With the lawsuits now in the rearview, both women are back at—and they’ve now got each other as allies.

“We found each other, which was pretty special, through this,” said Gore, who added that the two also share a common like for the same cocktail.

These two founders didn’t know each other well—until they both got sued by conservative legal activists following the fall of affirmative action. With the cases behind them, they reflect on lessons learned and how other businesses can prepare.  
Elizabeth Gore, cofounder and president, Hello Alice, and Arian Simone, founding partner and CEO, Fearless Fund.
Photograph by Stuart Isett/Fortune

And women are calling out tech that doesn’t recognize them—literally.

Kathi Vidal, the undersecretary of commerce for intellectual property and director of the U.S. Patent and Trademark Office, flagged a flaw in Tesla cars, reported Fortune‘s Jenn Brice. The vehicle’s onboard screen insists that every nearby pedestrian is a man. 

“My relationship with Elon is more of a personal nature,” Vidal said when asked about the billionaire CEO of Tesla. Vidal drives a Tesla Model S Plaid, which she notes she bought because she wanted an electric car.

“When I drive, and I see a voluptuous woman walk across the street, Elon depicts her as a tall white man,” Vidal said at the event in Laguna Niguel, Calif. “Really, the AI recognizes everybody as tall white men,” she added. Vidal has since ordered a Tesla Roadster, but she gave Musk a personal warning: “Elon, if you’re listening, I’m going to withdraw my money if you don’t change that,” she 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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