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Disney heiress says any billionaire who can’t manage to share their wealth is ‘kind of a sociopath’

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  • Disney heiress Abigail Disney is calling for a tax on the richest people in the U.S., saying it’s crazy for billionaires to hold onto their wealth. Disney is also a major philanthropist who’s donated tens of millions of dollars over the years. She’s among a group of ultra-wealthy individuals who have made a commitment to give away their vast fortunes.

While many of the world’s wealthiest people make an effort to share their fortunes, some do not—at least to the extent more generous peers wish they would. 

Abigail Disney, one of the heiresses to the Walt Disney fortune who said in 2019 she’s worth about $120 million, recently shared her feelings about how much of their wealth billionaires should be willing to share.

“I am of the belief that every billionaire who can’t live on $999 million is kind of a sociopath,” Disney told The Guardian in an interview published on Monday. “Like, why? You know, over a billion dollars makes money so fast that it’s almost impossible to get rid of.”

Disney has begrudgingly disclosed her net worth in the past only to make a point about how important it is to her to give away the vast fortune bestowed upon her by being a part of one of the major family dynasties in the U.S. The Financial Times even called her a “class warrior” for how vocal she’s been about how much the wealthiest should be taxed. 

“The need to tax rich people like me has never been so dire,” Disney wrote in a 2024 op-ed entitled “World leaders have a chance to raise taxes for rich people like me. I’m begging them to take it” published by The Guardian. “Extreme wealth concentration in the hands of a few oligarchs is a threat to democracy the world over.”

Disney was also behind a 2019 letter signed by financier George Soros and Facebook cofounder Chris Hughes calling for a “moderate wealth tax on the fortunes of the richest one-tenth of the richest 1% of Americans—on us.”

The Disney heiress and filmmaker in 1991 also founded the Daphne Foundation, a New York City-based nonprofit that invests funds for causes like fighting poverty, violence, and discrimination. The organization had donated about $70 million as of 2019.

Although Disney has said she’d given away about a third of her net worth, it came “back to me as quickly as I’ve given it away,” referencing how investments can grow wealth.

“By just sitting on your hands, you become more of a billionaire until you’re a double billionaire,” Disney told The Guardian. “It’s a strange way to live when you have objectively more money than a person can spend.”

Billionaires who have given away their wealth

Other ultra-wealthy people have been giving vast amounts of their fortunes away. One prime example is MacKenzie Scott, who’s donated more than $19 billion of her $34.3 billion fortune. The five-year donation spree by the ex-wife of Amazon founder Jeff Bezos has been “transformational” for nonprofits, according to a study by the Center for Effective Philanthropy. 

“It could take decades to truly understand the effects these gifts have had on nonprofits and the sector at large,” according to the report. “However, after five years of giving, the reported effects of her gifts on recipient organizations…remain overwhelmingly positive.”

Bill and Melinda French Gates have also been major philanthropists, having donated more than $77 billion since founding the Gates Foundation in 2000. 

“I believe that people who are financially successful have a responsibility to give back to society,” Bill Gates wrote on his blog Gates Notes. “In the 1990s, as Microsoft became successful, I decided I would eventually give away virtually all of my wealth. The goal of my philanthropy is to reduce inequity.”

Although French Gates resigned from the Gates Foundation in 2024, she put out an open call for nonprofits related to the betterment of women and girls to apply for grants through her organization, Pivotal, pledging to donate $1 billion during the next two years. French Gates’ net worth is about $14 billion, according to Bloomberg.

By “using my own personal resources to put substantial investments behind women or minorities,” she told NPR in October 2024. “I am pointing in a direction, I hope, for other philanthropists or even other governments.”

And Warren Buffett, the sixth-richest man in the world with a $155 billion net worth, also pledged in 2010 to give away more than 99% of his wealth to philanthropy during his lifetime or at his death.

“Measured by dollars, this commitment is large. In a comparative sense, though, many individuals give more to others every day,” Buffett wrote. “In contrast, my family and I will give up nothing we need or want by fulfilling this 99% pledge.”

This story was originally featured on Fortune.com



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Sam Altman says ‘10% of the world now uses our systems a lot’ as Studio Ghibli-style AI images help boost OpenAI signups

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  • OpenAI’s user base is expanding rapidly, with CEO Sam Altman suggesting that one in 10 people globally now use its systems. The company has seen a significant boost from its new image-generation feature that went viral for its ability to simulate the artwork of Hayao Miyazaki.

OpenAI’s user base is rapidly on the rise, according to CEO Sam Altman. In an interview with TED late last week, Altman said ChatGPT’s user base was “growing very rapidly” and suggested that the company’s user base had doubled in a mere few weeks.

In February, OpenAI’s weekly active users surged past 400 million while its paying business users also crossed 2 million, according to a company spokesperson. The startup had 300 million weekly active users in December, highlighting how rapidly the company has been growing in the last few months.

Now, Altman says that “something like 10% of the world uses our systems a lot” — putting the number of users at approximately 800 million.

The fresh disclosure about OpenAI’s user base appeared to be inadvertently revealed by Altman. When TED’s Chris Anderson stated that the OpenAI CEO had told him backstage that the company’s user base had doubled in mere weeks, Altman claimed that the statement had been made “privately.”

Representatives for OpenAI did not immediately respond to a request for confirmation from Fortune, made outside of normal working hours.

OpenAI’s record-breaking growth

ChatGPT made history after its initial launch as the chatbot became the fastest-growing app in the history of web applications, reaching 100 million monthly active users just two months after it was released.

A flurry of new releases from OpenAI appears to have catapulted the company ahead of some of its rivals. For example, Google Gemini recorded 284.1 million total visits in February 2025, according to a recent analysis of web traffic.

The company saw a significant boost from its new image-generation feature that went viral for its ability to simulate the artwork of Hayao Miyazaki.

Altman said signups for ChatGPT hit 1 million in an hour following the launch of the new feature. Signups for the chatbot were coming so fast and furious that at one point, the system was having trouble keeping up with what Altman called “biblical demand.”

Altman was quizzed on AI ethics

Altman was pressed on AI safety, transparency, and corporate accountability during a pointed and occasionally tense conversation with TED’s Anderson.

The CEO was asked about copyright issues around training modules on artistic work, something that has plagued OpenAI since before the company launched ChatGPT. Many artists have taken issue with AI image generators, arguing that vast datasets used to train models contain copyrighted works without explicit permission from creators. OpenAI is in the middle of fighting several copyright lawsuits on the issue.

During the interview, Altman appeared to float the idea of revenue-sharing with living artists for the first time.

“I think it would be cool to figure out a new model where if you say I want to do it in the name of this artist and they opt-in, there’s a revenue model there that’s okay,” he said.

The accusations of IP theft by major AI companies have been reignited by the viral Ghibli-style images being generated on ChatGPT. Studio Ghibli’s co-founder, Miyazaki, is still a working artist and one who has taken issue with AI in the past, famously calling the tech an “insult to life itself” in a 2016 documentary.

OpenAI said in its system card for 4o image generation it had “added a refusal which triggers when a user attempts to generate an image in the style of a living artist,” but users are still able to imitate the studio’s style via the paid-for version of that chatbot.

This story was originally featured on Fortune.com



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Trump’s senior crypto advisor donated $1M in campaign advertisements to top Trump Super PAC one week before election

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When President Donald Trump announced that he had tapped 29-year-old Bo Hines for a prized role advising his ambitious crypto agenda, the blockchain industry was thrown off guard. Hines, a two-time Republican congressional candidate, had never held a formal business role in the tight-knit crypto sector. 

But he did have strong ties to the Trump orbit, and a seven-figure show of support for the Trump campaign, according to public records, financial filings, and an interview with Hines. 

Just one week before the 2024 presidential election, the growth investment firm Hines cofounded, Nxum Group, donated $1 million in pro-Trump campaign billboard advertisements to the $400 million Super PAC Make America Great Again Inc., according to Federal Election Commission filings. Hines, who confirmed he oversaw all of Nxum’s work in the political space, declined to provide more details about the donations and advertisements, saying only that his company helped on the “marketing side.” 

Trump appointed Hines to lead his presidential council on digital assets in December, with Hines taking on a top role advancing blockchain policy below David Sacks, the venture capital heavyweight that Trump tapped as his crypto and AI czar. Though Sacks has the senior position, a spokesperson for the Office of Science and Technology Policy, where the roles are housed, said that Hines and Sacks “work side by side and very closely.” 

Hines has been instrumental in helping Trump carry out his sweeping effort to reform the government’s approach to the blockchain industry, moving away from the confrontational relationship that developed during the Biden administration. In his role, Hines serves as a liaison between the White House, the crypto industry, and lawmakers and regulatory agencies. At the White House crypto summit in March, Hines sat at the main table along with Trump, Sacks, and other administration bigwigs.

From congressional candidate to crypto liaison

Hines’ path to becoming the U.S. government’s crypto emissary is an interesting one. Four years after he graduated from Yale, Hines ran for the House in a North Carolina district in the Raleigh area with an endorsement from Trump, making it to the general election before he lost in 2022. Two years later, in 2024, he lost in the primary in a different district. Hines says he translated his experience running for office into his work at Charlotte-based Nxum. The firm, which Hines cofounded with his father and another partner, does data, tech, and marketing, including political consulting, for companies it backs. Hines says he oversaw all of its political work.

“I jumped into the political arena at a young age,” he said. “I think that we were just a little bit frustrated with some of the archaic ways in which people advertise in that space.”

One of the companies in the firm’s portfolio is Today is America, a self-described “anti-woke” media organization targeted at Gen Z, where Hines says he served as head of operations to “get that off the ground,” then in 2023, after Nxum took an ownership stake in the company, Hines became the organization’s CEO. Today is America ran the social media accounts and partnered on get-out-the-vote efforts for a conservative student advocacy group called Students for Trump.

In October, Students for Trump announced a partnership with a memecoin project called Restore the Republic. The proceeds of any sales were pledged to the Trump campaign (Donald Trump’s son, Eric Trump, had disavowed any Trump-family connection to the token in August, causing its price to plummet 95%, before Hines became involved.) “With this partnership, we aim to make a meaningful impact on voter turnout, especially among young Americans,” Hines said in a press release announcing a partnership where the student group would hold events and forums to rally support for Trump in swing states. A week prior to that announcement, Hines appeared with Donald Trump’s other son, Donald Trump Jr., on a livestream hosted by Restore the Republic. 

Hines told Fortune that he was not involved with the management or promotion of the memecoin. Today is America’s only work with Restore the Republic was to gin up attention for Trump on social media and get out the vote efforts ahead of the election, he says, saying he has never owned any of the token himself and therefore did not personally gain by promoting it. 

Since taking his White House role, Hines is a non-acting partner at Nxum, and he says that the firm’s political work is now handled by the firm’s other two general partners, one of whom is his father.

This story was originally featured on Fortune.com



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Cutting complexity might be the new leadership superpower

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Today’s most effective leaders aren’t just strategists or visionaries; they’re simplifiers. These executives can cut through bureaucracy, strip away bloat, and prioritize speed and agility over sprawling hierarchies and tangled workflows.

As companies scale, they inevitably accumulate more processes, meetings, metrics, policies, and platforms, writes Fortune’s Lily Mae Lazarus. Each addition may be well-intentioned, but over time, the layers calcify, slowing decision-making and suffocating innovation. The cost isn’t just cultural; it’s financial. Bain & Company estimates that excessive complexity erodes more than 15% of large companies’ profits each year.

Enter the simplifier-in-chief. These leaders are clear-eyed about the hidden toll of complexity and are unafraid to challenge entrenched ways of working. They focus on prioritizing what matters, eliminating friction, and empowering their teams to move faster and smarter. They also know that in today’s market, velocity is a competitive advantage—and that too much process often creates the illusion of control while actually stalling progress.

Several CEOs appear to agree.

—Amazon’s Andy Jassy has stressed the need to eliminate internal drag that slows innovation. 
—GM’s Mary Barra has long championed cutting red tape to accelerate product cycles.
—Bayer’s Bill Anderson is slashing 99% of corporate rules and flattening management through his “dynamic shared ownership” model. 
—JPMorgan Chase CEO Jamie Dimon put it bluntly: “Bureaucracy and BS kill companies.”

The shift toward simplification isn’t just about efficiency, though. It’s about resilience, writes Lazarus. When the environment shifts—as it inevitably does—simplified organizations can adapt faster and cultivate cultures that are more responsive, creative, and aligned around shared goals.

Ruth Umoh
ruth.umoh@fortune.com

Today’s newsletter was curated by Lily Mae Lazarus.

This story was originally featured on Fortune.com



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