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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
TechPope Francis

Why Verizon and AT&T are spending millions on Pope Francis’ U.S. visit

By
Laura Lorenzetti
Laura Lorenzetti
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By
Laura Lorenzetti
Laura Lorenzetti
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September 23, 2015, 12:24 PM ET
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Pope Francis is arguably the first pontiff of the social media age, and telecoms on the Eastern seaboard are beefing up their networks to be sure the barrage of selfies, tweets, and Vine clips resulting from his U.S. visit can be uploaded as fast as a prayer.

AT&T (T) has spent nearly $25 million across three cities–$23 million of that in Philadelphia alone–to prepare for the pope’s visit, the main event of which will be an outdoor mass in Philadelphia that’s expected to attract nearly 2 million people. That’s a pretty heft budget, especially compared to the $6 million to $16 million AT&T typically spends for other major events, such as the Super Bowl, reported CNBC.

Verizon (VZ) has also devoted major resources to the Pope’s visit: about $24 million and nearly 18 months of pre-planning.

The investments go toward boosting cell coverage via temporary portable cell sites, referred to as Cell on Wheels (or COWs), which will be set up along the Pope’s motorcade route.

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