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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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Nike delays launch for new brand with Kim Kardashian’s Skims

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Kim Bhasin
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Lily Meier
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June 19, 2025, 9:48 AM ET
Kim Kardashian visits the Skims Summer Pop-Up Shop in the Channel Gardens at Rockefeller Center on May 16, 2023 in New York City.
Kim Kardashian visits the Skims Summer Pop-Up Shop in the Channel Gardens at Rockefeller Center on May 16, 2023 in New York City.Photo by Kevin Mazur/Getty Images for SKIMS
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Nike Inc.’s new brand with entrepreneur and reality TV star Kim Kardashian’s Skims label has pushed back its launch after initially planning to release its first collection this spring.

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NikeSkims is dealing with production delays as it prepares to debut the brand this year, according to people familiar with the matter. Shoppers have been awaiting the line’s initial products in recent months, ahead of a global rollout planned for 2026. 

Despite the delays, Nike still expects to release NikeSkims products sometime this year, one of the people with knowledge of the matter said. It’s unclear exactly when the first NikeSkims goods will be available for purchase, what products will be included in the line and if consumers will get a preview before the initial release. 

Both Nike and Skims have bet heavily on the partnership. Nike is counting on Kardashian to help boost its women’s business and add cultural relevance as it looks to spark a turnaround. Skims, meanwhile, has an opportunity to solidify its presence in the activewear market by teaming up with the world’s largest sportswear company.

Nike Chief Executive Officer Elliott Hill, who came out of retirement to take the role last year, told investors in March he expected the first “comprehensive collection” would be available during the quarter that ended in May.

Nike shares fell as much as 0.5% on Wednesday, erasing an earlier gain. The stock is down more than 20% this year, compared with a 2% increase in the S&P 500. Investors will be looking for updates when the company reports its fourth-quarter earnings results on June 26. 

Nike has been putting together a dedicated team for the project, which had been kept secret for more than a year until an announcement in February. The division, which is made up of employees from Nike, Skims and new hires, is still recruiting designers. It’s expected to create and sell a selection of training footwear, apparel and accessories.

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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