MacKenzie Scott has given away more of her wealth than almost any other billionaire.
Scott announced her annual philanthropic gifts this week totaling $7.1 billion—the most she’s given in a year since making her giving public. Over her lifetime, she’s contributed $26 billion, which makes her one of the three most generous donors in the U.S. Only Warren Buffett and Bill Gates have donated more, but Scott has now given more in dollar terms than both Michael Bloomberg and George Soros.
Scott, whose net worth is around $30 billion, gave to around 200 organizations, focusing on climate and higher education.
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FIRST UP
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Marijuana policy reform is imminent, cannabis industry and Washington insiders say: President Donald Trump is seriously considering reclassifying marijuana from Schedule I drug to Schedule III, on par with mild painkillers, the Washington Post reported, though a White House spokesperson told Forbes that “no final decisions have been made.” If cannabis is rescheduled, it will mark the greatest change to U.S. drug laws since 1970 and usher in a new future for the $32 billion state-regulated cannabis industry.
Oracle shares tanked 11% as the company missed on revenue expectations, dropping Larry Ellison down to No. 3 in the ranking of the world’s richest. The firm’s shares have fallen in recent weeks amid fears of an AI bubble.
BUSINESS + FINANCE
Small and mid-cap stocks have lagged behind large caps for years, but the standouts on Forbes’ 2025 list of America’s Most Successful Mid-Cap Companies are bucking that trend. For instance, Nextpower, which sells solar trackers and ranks No. 5, has surged 140% in the past year, as the industry grows despite President Donald Trump’s public disdain for renewables.
WEALTH + ENTREPRENEURSHIP
After selling his first company to Cisco in 2017, Jyoti Bansal launched Harness, which uses AI agents to make sure code is secure and compliant with different regulations. On Thursday, the company announced it had raised $240 million at a $5.5 billion valuation, making Bansal a new billionaire with a net worth Forbes estimates at $2.3 billion.
TECH + INNOVATION
The race for autonomous driving technology is heating up, with electric vehicle maker Rivian announcing plans to add hardware and software to enable hands-free, eyes-off driving starting next year with its new R2 model. The firm remains the most-promising Tesla rival in the U.S., though electric vehicle demand has fallen as a result of the loss of federal tax credits.
MONEY + POLITICS
U.S. Senate Majority Leader John Thune, R-SD
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The Senate struck down a proposal to make direct payments into individuals’ health savings accounts as a replacement for expiring Affordable Care Act tax credits. The bill would have given those enrolled in certain plans earning less than 700% of the federal poverty level $1,000 or $1,500 in their HSAs depending on their age, but experts said it was unlikely to offset rising premiums anyway.
The Indiana Senate rejected a congressional redistricting map backed by President Donald Trump that would have advantaged Republicans—a setback as the president has pressured states to redraw their state congressional lines. Other gerrymandering efforts in states like California, Missouri, North Carolina, Ohio, Texas and Utah, have generated controversy and legal action.
TRENDS + EXPLAINERS
Many employees are thinking about raises and bonuses this time of year, but they may be disappointed: New research from private payroll software company ADP shows the number of workers receiving bonuses—and the size of the payouts—are on the decline. While most employers are keeping 2026 salary increases in line with 2025, some fields, like artificial intelligence and banking, are seeing pay rising faster.
DAILY COVER STORY
America’s Top 100 Charities: A Year Of Pain After Trump Cuts
There’s no denying that it’s been a hard time for some of the nation’s top charities: Organizations like Save The Children and New York-based International Rescue Committee were sent reeling by the dramatic leveling of foreign humanitarian aid by the Trump Administration. Domestic-focused charities have also had to scramble to adjust to less-drastic cuts to FEMA and support for food banks at home.
Forbes’ 2025 list of America’s Top 100 Charities, released today, doesn’t directly reflect the extent of that damage, but it does show which charities were most at risk and may be deserving of your dollars now. That’s because our ranking, now in its 27th year, is designed foremost as a tool for individual donors and is based entirely on private contributions in each charity’s last reported fiscal year. In most cases, that year ended before President Donald Trump returned to the White House in January.
Private donations to the 100 entries on the 2025 Top Charities list rose 4.4%, beating the 2024 inflation rate of 2.9%. Meanwhile, a few of the richest Americans, like MacKenzie Scott and Bill Gates, have stepped up in notable ways.
WHY IT MATTERS Could private donors, spurred on by government cuts or a new tax break that kicks in next year, make up for all the lost government funds? Probably not. But despite their oft-cited economic anxiety, ordinary folks are still giving. Benevity Inc., which provides a workplace donation platform to hundreds of companies, reported that donations it processed on Giving Tuesday earlier this month were up 7% from the year before.
MORE Why 2026 Could Be A Good Year For Planned Charitable Giving
FACTS + COMMENTS
The number of unemployment applications surged last week, according to Labor Department data, despite recently reaching a three-year low. The new data shows the largest single-week jump in five years:
236,000: How many unemployment benefits applications were filed last week
1.83 million: The number of continuing jobless claims, a decline from the previous week
4.5%: Wall Street’s predicted unemployment rate for November, which will be officially released next week
STRATEGY + SUCCESS
Curiosity is becoming an increasingly essential skill in fast-moving organizations, because the act of asking questions helps counteract the tendency to operate with outdated assumptions. Fostering a sense of psychological safety is key to managing a workplace where people feel comfortable expressing their curiosity. Leaders should set the tone and model that it’s okay to not know all the answers.
VIDEO
QUIZ
A famous rapper has praised the Trump Administration online in recent weeks, leading Vice President JD Vance to voice his support for her on X. Which rapper is it?
A. Nicki Minaj
B. Doja Cat
C. Missy Elliott
D. Cardi B
Check your answer.
Thanks for reading! This edition of Forbes Daily was edited by Sarah Whitmire and Chris Dobstaff.
