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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
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Philippine president declares state of emergency due to “imminent danger of a critically low energy supply”

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March 24, 2026, 10:55 AM ET
Philippine President Marcos oversees fuel subsidy rollout for public transport in Metro Manila
Philippine President Ferdinand Marcos Jr. declared a state of emergency over a low energy supply.Philippine Presidential Com. Office / Handout /Anadolu via Getty Images
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Philippine President Ferdinand Marcos Jr. on Tuesday declared a state of national energy emergency to respond to the impact of the Middle East war, which his administration said posed “an imminent danger of a critically low energy supply.”

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Under the declaration, which will initially last for a year, Marcos will lead a contingency committee that will ensure the availability and orderly distribution of fuel, food, medicines, agricultural products and other basic goods.

Authorities were ordered to take action against the hoarding, profiteering and manipulation of the supply of petroleum products. The Department of Migrant Workers, meanwhile, was asked to brace for the possible rescue and evacuation of Filipinos in the Middle East.

The government has started to provide 5,000 pesos ($83) each to large numbers of motorcycle taxi drivers and other public transport workers nationwide to help them cope with soaring gasoline and diesel prices. Free bus rides have also been provided to students and workers in selected cities.

About 2.4 million Filipinos live and work in the Middle East, including about 31,000 in Israel and 800 in Iran. Most have opted, however, to stay and work in the region, with only several hundreds being flown home so far with government help since the Middle East hostilities began.

A Filipina caregiver, Mary Ann de Vera, was killed in Tel Aviv, Israel, in an Iranian missile strike on Feb. 28 while helping bring her elderly charge to a bomb shelter, Philippine officials said.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
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