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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

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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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Fortune Gulf Brief is Fortune's weekly Tuesday newsletter covering business, investment, and economic trends across the Middle East, written by Fortune writer Melissa Hancock. It delivers expert analysis on the deals, leaders, and policies shaping the GCC region for global executives. Sign up here.
Gulf bond markets extend their rally despite uncertain outlook
Gulf bond markets extend their rally despite uncertain outlook

GCC debt markets have rallied since the ceasefire, but tight liquidity remains a key hurdle

By Melissa HancockJune 30, 2026
GCC debt markets have rallied since the ceasefire, but tight liquidity remains a key hurdle 
GCC debt markets have rallied since the ceasefire, but tight liquidity remains a key hurdle 
By Melissa HancockJune 30, 2026
U.S. official says $6 billion in frozen Iranian assets will be released, while Oman discusses possible Hormuz service fees with Tehran
U.S. official says $6 billion in frozen Iranian assets will be released, while Oman discusses possible Hormuz service fees with Tehran
By Jon Gambrell, Josh Boak and The Associated PressJune 29, 2026
Photo: Kevin Warsh
President Trump will not get what he wants from Kevin Warsh, a source tells us, as inflation will force the Fed upwards
By Jim EdwardsJune 29, 2026
Markets feel relief as the U.S. and Iran agree to a ceasefire on their earlier ‘ceasefire’ that was looking at lot like a war over Hormuz
Markets feel relief as the U.S. and Iran agree to a ceasefire on their earlier ‘ceasefire’ that was looking at lot like a war over Hormuz
By Jason MaJune 28, 2026
Iran is forcing the U.S. into an escalation trap as a ‘shadow war’ over the Strait of Hormuz heats up that could kill the tenuous ceasefire
Iran is forcing the U.S. into an escalation trap as a ‘shadow war’ over the Strait of Hormuz heats up that could kill the tenuous ceasefire
By Jason MaJune 28, 2026
Latest Stories
Nike’s earning numbers exceeded Wall Street’s expectations. But CEO Elliott Hill’s next test is the World Cup
RetailNike’s earning numbers exceeded Wall Street’s expectations. But CEO Elliott Hill’s next test is the World Cup
By Mia OsmonbekovJune 30, 2026
Dell’s AI boom is real, but so is the profit margin hit nobody is pricing in
AIDell’s AI boom is real, but so is the profit margin hit nobody is pricing in
By Mia OsmonbekovJune 30, 2026
Young couple looking sad in front of a home with a for sale sign
Real EstateGen Z and millennials aren’t convinced the American Dream exists anymore: Only 40% of them can afford to buy a home
By Tristan BoveJune 30, 2026
Russian President Vladimir Putin
EconomyIt started with one viral influencer complaining about Russia’s economy. Now a record 60% of Russians are pessimistic about their country’s outlook
By Tristan BoveJune 30, 2026
Image of colored bar charts with one being pushed up.
NewslettersAI is minting billion-dollar companies faster than before
By Beatrice NolanJune 30, 2026
Stripe CEO Patrick Collison gestures with his hands as he speaks into a microphone before a congressional committee hearing.
CryptoStripe, Visa and over 140 other businesses to launch stablecoin to rival Tether and Circle
By Camila Grigera NaónJune 30, 2026
kean
PoliticsTom Kean discloses depression diagnosis behind 4-month absence from Congress: ‘until you experience it yourself, it is difficult to fully understand’
By Mike Catalini, Joey Cappelletti and The Associated PressJune 30, 2026
t
CommentaryNetflix could turn NBC into its biggest bet yet — and this time, the math actually works
By Jeffrey Sonnenfeld and Steven TianJune 30, 2026
More Middle EastPage 4 of 15
US President Donald Trump, left, and Marco Rubio, US secretary of state, speak to members of the media on the South Lawn of the White House before boarding Marine One in Washington, DC, US, on Friday, March 20, 2026. US officials said the White House is sending more than 2,000 additional Marines to the Middle East as it weighs a plan to seize Iran's Kharg Island oil export hub, a ground operation that would carry huge risks for President Donald Trump.
EnergyThree weeks into the Iran war that’s requested $200 billion, here’s what success for Trump might look like
By Jordan BlumMarch 21, 2026
It’s looking like Trump’s war created a private oil lane for China and other countries willing to play ball with Iran
Middle EastIt’s looking like Trump’s war created a private oil lane for China and other countries willing to play ball with Iran
By Jason MaMarch 20, 2026
A man walks between two luxury cars with the skyline of Dubai in the background.
RetailThe Middle East is one of the world’s fastest growing luxury markets—and the war in Iran may cut its sales in half, analysts say
By Sasha RogelbergMarch 20, 2026
Photo: A-10 Thunderbolt Warthog.
BankingAs the U.S. gears up for a potential ground war in Iran, $100-plus oil threatens ‘demand destruction’ — starting in Asia
By Jim EdwardsMarch 20, 2026
US Federal Reserve Chair Jerome Powell speaks during a press conference following the Federal Open Market Committee meeting at the Federal Reserve Board Building in Washington, DC, on March 18, 2026.
EconomyThe next time the Fed moves it’ll be to hike, according to one economist—whether or not Trump gets his new Fed chair
By Eleanor PringleMarch 20, 2026
Chris Wright, US energy secretary sitting next to US President Donald Trump
EnergyTrump officials say gas prices will return to normal in ‘a few more weeks,’ but his own Energy Department says it will be 2027
By Tristan BoveMarch 18, 2026
Traders work on the floor of the New York Stock Exchange during morning trading on March 18, 2026 in New York City.
EnergyOil prices hit nearly $110 as Iran vows to escalate the war in ‘new ways’
By Eva RoytburgMarch 18, 2026
guillaume
CommentaryThe U.S. attacked Iran to show its power but the war is already lost. Epic Fury looks like an Epic Fail
By Guillaume LongMarch 18, 2026
A technician in Germany works on a battery system for a Volkswagen electric vehicle.
EconomyThe world’s EVs were already replacing 70% of Iran’s oil exports. The war just made that matter
By Tristan BoveMarch 18, 2026
Customer Jann Gregg of Schenectady pumps gas at the GasWay Xpress Mart at 1120 Erie Blvd. pump gas on Wednesday, Dec. 3, 2025, in Schenectady, N.Y.
EconomyEconomists are ‘loath’ to call a recession, but the odds just hit 49% for the next 12 months according to Moody’s top economist
By Eleanor PringleMarch 18, 2026
PHOTO: DONALD TRUMP
Big TechAs Trump rages against his allies, Republicans are asking what the plan is to end the chaos in Iran
By Jim EdwardsMarch 18, 2026
man in a suit
PoliticsWho is Joe Kent? Meet the Green Beret, MAGA loyalist, and former political candidate who quit over Iran
By Catherina GioinoMarch 17, 2026
trump
CommentaryTrump’s Iran War looks improvised. It isn’t. Here’s the playbook he’s been running for decades
By Jeffrey Sonnenfeld and Steven TianMarch 17, 2026
constantine
CommentaryThe next energy superpower will make its own fuel
By Gregory ConstantineMarch 17, 2026
Jeremy Siegel, the Russell E. Palmer Professor of Finance at the Wharton School, speaks during the Wharton Global Alumni Forum in Madrid, Spain, on Thursday, June 24, 2010.
EconomyA market correction of 10% could be on the cards as consumer psychology shifts due to gas prices, says top economist
By Eleanor PringleMarch 17, 2026
Photo: President Trump.
EconomyBackchannel talks between U.S. and Iran offer Trump an off-ramp—if he wants it
By Jim EdwardsMarch 17, 2026
Photo of Ray Dalio
Middle EastRay Dalio warns a brutal ‘final battle’ for the Strait of Hormuz is coming—and losing could end the American empire
By Eva RoytburgMarch 17, 2026
Smoke rises from the direction of an energy installation in the Gulf emirate of Fujairah on March 14, 2026. Smoke could be seen rising from the direction of a major UAE energy installation on March 14, in what appeared to be the latest strike targeting the Gulf's petroleum facilities hours after the US struck Iran's Kharg Island.
EnergyVenezuela has the world’s largest proven oil reserves, but it can’t solve for the Strait of Hormuz ‘math problem’
By Jordan BlumMarch 17, 2026
U.S. President Donald Trump listens during a press conference with Ukrainian President Volodymyr Zelensky following their meeting at Trump’s Mar-a-Lago club on December 28, 2025 in Palm Beach, Florida.
Politics‘Blackmail is also not what I wish for’: America’s allies are ghosting Trump on Strait of Hormuz
By Eva RoytburgMarch 16, 2026
President Donald Trump at the White House
EconomyThe energy crisis isn’t recessionary yet, but there’s a scenario where oil prices could bring the US economy to a ‘standstill,’ Oxford Economics says
By Tristan BoveMarch 16, 2026
Iran’s attacks have collapsed, and the trend is ‘overwhelmingly positive,’ analysts say. But the military side is separate from politics and markets
Middle EastIran’s attacks have collapsed, and the trend is ‘overwhelmingly positive,’ analysts say. But the military side is separate from politics and markets
By Jason MaMarch 16, 2026
gutman, shah
BankingGoldman’s top international execs say the Iran war has parallels to the Russia’s invasion of Ukraine, but there are key differences
By Nick LichtenbergMarch 16, 2026
Photo: Donald Trump
EnergyWith Iran still in control of Hormuz, Trump threatens NATO and oil hits $106
By Jim EdwardsMarch 16, 2026
Despite Greenland crisis, Trump suggests NATO owes him help on Iran war after U.S. support for Ukraine. ‘We’ve been very sweet’
EnergyDespite Greenland crisis, Trump suggests NATO owes him help on Iran war after U.S. support for Ukraine. ‘We’ve been very sweet’
By Jason MaMarch 15, 2026
The closed Strait of Hormuz is testing Asia’s energy security. The answer lies across the Pacific—in Canada
CommentaryThe closed Strait of Hormuz is testing Asia’s energy security. The answer lies across the Pacific—in Canada
By Barrett BingleyMarch 15, 2026
President Donald Trump salutes as a U.S. Army carry team moves a flag-draped transfer case containing the remains of Sgt. Declan J. Coady at Dover Air Force Base on March 07, 2026 in Dover, Delaware.
Middle EastThe war with Iran has defense experts wondering if Khamenei will attempt to activate sleeper cells on U.S. soil
By Eleanor PringleMarch 15, 2026
1970s car waiting for gas during the gas crisis of the 1970s.
Middle EastSo, what happens during a gas crisis, anyway? Your older relatives have a reason to bring up what could come next
By Catherina GioinoMarch 15, 2026
‘Peak war panic’ will likely hit financial markets in 1-3 weeks, strategist predicts, as Trump says he doesn’t want to make a deal with Iran yet
Energy‘Peak war panic’ will likely hit financial markets in 1-3 weeks, strategist predicts, as Trump says he doesn’t want to make a deal with Iran yet
By Jason MaMarch 14, 2026
Trump’s AI czar calls for U.S. to ‘get out’ of war and warns Iran has a ‘dead man’s switch’ that could render Gulf states almost uninhabitable
Middle EastTrump’s AI czar calls for U.S. to ‘get out’ of war and warns Iran has a ‘dead man’s switch’ that could render Gulf states almost uninhabitable
By Jason MaMarch 14, 2026
Handout photo taken on March 11, 2026 and released by the Royal Thai Navy shows smoke rising from the Thai bulk carrier 'Mayuree Naree' near the Strait of Hormuz after an attack. A Thai bulk carrier travelling in the crucial Strait of Hormuz was attacked March 11, with 20 crew members rescued so far, the Thai navy said.
EnergySkyrocketing energy prices and inflation woes mount as the ‘absurd’ reality in Iran sinks in
By Jordan BlumMarch 14, 2026
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Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse placeplaceholder alt text
By Sydney LakeJune 29, 2026
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By Sydney LakeJune 25, 2026
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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 fasterplaceholder alt text
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