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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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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
PoliticsDubai

Dubai’s worst nightmare unfolds as Iran strikes Gulf neighbors

By
Dana Khraiche
Dana Khraiche
,
Fiona MacDonald
Fiona MacDonald
, and
Bloomberg
Bloomberg
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By
Dana Khraiche
Dana Khraiche
,
Fiona MacDonald
Fiona MacDonald
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
February 28, 2026, 4:57 PM ET
The Burj Khalifa skyscraper, centre, on the city skyline in Dubai, United Arab Emirates, on Friday, Feb. 20, 2026.
The Burj Khalifa skyscraper, centre, on the city skyline in Dubai, United Arab Emirates, on Friday, Feb. 20, 2026. Walaa Alshaer/Bloomberg via Getty Images
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Dubai’s nightmare scenario unfolded Saturday: Defense systems repelling Iranian missiles and drones over its famous skyscrapers, random explosions and plumes of black smoke rising out of the city-state’s most celebrated neighborhood.

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Local authorities said four people were injured in a fire at Palm Jumeirah, the man-made island that’s famous for its luxury hotels, resorts and attractions. A high-end hotel there was hit by parts of a missile that was either intercepted or got knocked off its trajectory.

Iran launched an unprecedented wave of airstrikes in the region targeting US bases and fracturing the emirate’s long-held image of a haven in a tough neighborhood. Dubai has prided itself with its unshakable security and safety. Many still leave their cars and homes unlocked.

But social media is full of videos of interceptors and objects flying in the sky, an unthinkable scene in the emirate. A restaurant in the Dubai International Financial Center, the Middle East’s main financial hub, unexpectedly asked customers to pay and leave so they could close early.

Panic-buying in some supermarkets prompted Emirati authorities to issue a statement and reassure residents that there is ample supply of food. Strategic reserves of essential commodities are “robust, comprehensive and diversified,” they said, asking people to refrain from stockpiling.

Missiles struck a service center at a US base and residential buildings in Bahrain, and a drone hit Kuwait’s airport, injuring some staff at a passenger terminal. The American base there was also hit, lightly injuring three members of the Kuwaiti military. Qatar intercepted several waves of airstrikes and suspended flights, as did many others.

The UAE partially closed its airspace and suspended flights in Dubai as it intercepted Iranian rockets. Debris fell in Dubai and Abu Dhabi, according to the state-run news agency. One person was killed after missiles were intercepted in an Abu Dhabi area, the agency reported. 

The Islamic world, including the UAE, is observing the holy month of Ramadan, when Muslims fast from sunrise to sundown. Many cafes and restaurants remain open late into the night and offer late-night dining options and services. 

Management in some Dubai buildings are asking residents to take shelter in basements, and fitness centers have messaged their clients to say they’re temporarily closing.

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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