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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

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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
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Instagram is getting ready to debut a Twitter competitor and it could go live as soon as June

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In this photo illustration, a woman's silhouette is holding a smartphone with an Instagram logo in the background.Rafael Henrique/SOPA Images/LightRocket via Getty Images
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Instagram is planning to release a text-based app that will compete with Twitter.

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The company is currently testing the project with celebrities and influencers, according to people familiar with the matter. It has been secretly available to select creators for months, according to one of the people. 

The app, which will be separate from Instagram but will allow people to connect accounts, may debut as soon as June, according to Lia Haberman, who teaches social and influencer marketing at UCLA and published a screenshot of an early app description. It may eventually be compatible with other Twitter competitor apps, including Mastodon, according to Haberman’s screenshot.

Instagram, owned by Meta Platforms Inc., didn’t immediately respond to a request for comment. Twitter’s chaotic takeover by Elon Musk has caused some users to look for alternatives, and created an opening in the market.

“Historically, we know Meta likes to sample and recreate features from other apps and third-party tools based on what they anticipate being popular with their users,” Haberman said. She noted that Musk has talked about turning Twitter into an “everything app,” with a lot of features besides informational posts. “Based on Meta’s track record borrowing from other platforms, it’s much more likely they’ll get there first by consolidating all these experiences they’re building.”

Platformer in March reported that Meta was exploring a text-based app.

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