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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

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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
NewslettersMPW Daily

What the DEI rollback says about corporate values, according to Dr. Bernice King

Emma Hinchliffe
By
Emma Hinchliffe
Emma Hinchliffe
Most Powerful Women Editor
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Emma Hinchliffe
By
Emma Hinchliffe
Emma Hinchliffe
Most Powerful Women Editor
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May 20, 2026, 2:05 PM ET
Dr. Bernice A. King
Speaking at Fortune's Workplace Innovation Summit, Dr. Bernice A. King says corporate retreats from DEI initiatives expose which companies genuinely cared.Rebecca Greenfield/Fortune
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The Fortune team is in Atlanta this week for Fortune‘s second annual Workplace Innovation Summit. This is a convening that tackles all the ways workplaces are being transformed right now—the rise of AI agents, the unusual labor market, and attacks on DEI.

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On that last topic, one conversation has served as a highlight of the event so far. Dr. Bernice King, CEO of The King Center and daughter of Martin Luther King Jr., weighed in onstage with Fortune‘s Phil Wahba.

Of course, many companies have quietly (or not-so-quietly) abandoned their ERGs or diversity commitments. Here’s what King has to say to them: “If you retreat that quick, it suggests to me that reveals who you really are.” Companies and people who know who they are and know their values “don’t retreat,” she says.

King has some sympathy for institutions that are genuinely in jeopardy, and not just abandoning their principles out of fear—like colleges and universities. The need for federal research funding in higher education raises the question: “How do I make a decision that I can still move forward and practice what DEI represents, but not have the enormous cost of being caught up in litigation?” King asks.

Some other highlights from Workplace Innovation…

Two former chief diversity officers on the continued business value of diversity—but the difficulty for execs with the title who want to get on boards.

Upland Workshop’s Arielle Patrick on the liability issues created by AI notetakers.

Contrarian takes on two hot topics: Indeed’s chief economist Svenja Gudell says sectors most exposed to AI are seeing more growth in job demand. And an Accenture exec says the company is hiring more entry-level workers this year than last year, despite concerns for recent grads in the job market.

Emma Hinchliffe
emma.hinchliffe@fortune.com

The Most Powerful Women Daily newsletter is Fortune’s daily briefing for and about the women leading the business world. Subscribe here.

ALSO IN THE HEADLINES

OpenAI will file for its IPO as soon as Friday. That's what multiple news outlets are reporting. CFO Sarah Friar will be at the helm of the closely-watched listing. 

Keisha Lance Bottoms wins the Democratic governor's primary in Georgia. Her Democratic rivals had expected a runoff, but the former Atlanta mayor won outright. 

The filmmaker behind Ask E. Jean says the documentary almost didn't make it to release. The film follows E. Jean Carroll, who won $83 million in a defamation suit against President Trump. High praise on the festival circuit was followed by little success with distributors. Director Ivy Meeropol writes about the process in a NYT op-ed; stay tuned for more on this from me this week. 

How Chanel rebounded in 2025. Sales last year were up to $19.3 billion and profit was up 5%. CEO Leena Nair credits "record levels of investment" in 2024 and a long-term approach to Chanel's brand. 

Who will replace Anna Wintour? Chloe Malle is already head of editorial content for Vogue, but Anna Wintour is still Condé Nast's chief content officer. Condé CEO Roger Lynch says he has lists of emergency replacements on different time horizons, and they get updated every year. 

ON MY RADAR

On Capitol Hill, a sexual harassment minefield persists NYT

JPMorgan banker says sex-assault allegations have ruined her life WSJ

The French civil servant accused of drugging more than 100 women NYT

PARTING WORDS

"I’m okay with an exchange. But stealing isn’t negotiation."

— Cate Blanchett on actors' likenesses being used in AI-generated projects. She cofounded RSL Media, a free public registry that allows anyone to consent, or not, to the use of their likeness. 

This is the web version of MPW Daily, a daily newsletter for and about the world’s most powerful women. Sign up to get it delivered free to your inbox.
About the Author
Emma Hinchliffe
By Emma HinchliffeMost Powerful Women Editor
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Emma Hinchliffe is Fortune’s Most Powerful Women editor, overseeing editorial for the longstanding franchise. As a senior writer at Fortune, Emma has covered women in business and gender-lens news across business, politics, and culture. She is the lead author of the Most Powerful Women Daily newsletter (formerly the Broadsheet), Fortune’s daily missive for and about the women leading the business world.

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