MacKenzie Scott has built a reputation for her generosity, reportedly donating roughly $7.2 billion in 2025 alone — including well over $1 billion to Historically Black Colleges and Universities (HBCUs). Despite her significant contributions and ongoing philanthropic work, Scott’s name was notably absent from the Chronicle of Philanthropy’s latest ranking of top donors. According to the International Business Times (IBM), limited public disclosure around her philanthropy played a key role in her omission. Scott, her representatives, and Yield Giving — the organization that oversees her donations — declined to provide sufficient information about donor-advised funds to meet the publication’s inclusion criteria, the outlet notes. “MacKenzie Scott is among the notable absences on the Philanthropy 50 list,” The Chronicle said, per IBM. “While it is possible she made gifts to her donor-advised funds that would have earned her a spot on the Philanthropy 50, she and her representatives...
Amazon founder Jeff Bezos is disputing claims surrounding the controversial “buy, borrow, die” tax strategy often associated with ultrawealthy investors and founders seeking to minimize taxes. During an interview on CNBC on Wednesday, May 20, 2026, Bezos called the strategy a myth. “There’s no truth to this ‘buy, borrow, die’ thing,” Bezos said. “I don’t even know where this comes from.” What Is The ‘Buy, Borrow, Die’ Tax Strategy? A 2019 study by economists Emmanuel Saez and Gabriel Zucman found that, for the first time in modern history, the wealthiest Americans may be paying a lower effective tax rate than middle- and working-class households, AFROTECH™ previously reported. In 2018, the study noted the average effective tax rate paid by the top 400 richest U.S. families was reportedly 23%, compared with 24.2% paid by the bottom half of households. The strategy “Buy, borrow, die” refers to a wealth-preservation tactic that allows wealthy individuals to avoid triggering capital...
Mustafa Suleyman, CEO of Microsoft AI, has a stark prediction for the future of white-collar work: AI could begin replacing large numbers of professionals, from law school and MBA graduates to less-credentialed office workers. Suleyman told the Financial Times in February 2026 that AI systems would soon achieve “human-level performance on most, if not all, professional tasks.” “White-collar work, where you’re sitting down at a computer, either being a lawyer or an accountant or a project manager or a marketing person — most of those tasks will be fully automated by an AI within the next 12-18 months,” he said. Suleyman pointed to the rapid growth of computing power as a warning sign for the labor market. As AI models continue to scale, he argued, they could outperform many human coders and knowledge workers on complex tasks. CEOs Raise Concerns About AI’s Impact On The Job Market Suleyman’s predictions echo a growing chorus of executives warning about AI’s potential impact on...
Social Security insolvency has become a growing concern among Americans, many of whom worry their benefits could be unavailable by the time they reach retirement age, Yahoo! Finance reports . The 2025 Social Security Board of Trustees report noted that “the fund’s reserves will become depleted,” with the program able to pay 100% of scheduled benefits only through 2033 — three calendar quarters earlier than projected in last year’s projection. After that time, the program would still be able to pay about 77% of the scheduled benefits through the Old-Age and Survivors Insurance (OASI) Trust Fund, per the report. The Disability Insurance (DI) Trust Fund should be able to pay 100% of benefits through 2099. However, combined trust fund reserves are projected to become depleted in 2034 and will not be able to pay 100% after that. The programs two other funds, the Hospital Insurance (HI) Trust Fund and the Supplementary Medical Insurance (SMI) Trust Fund, could also be affected. Still,...
Data centers continue to use public water supplies without authorization, leaving residents in water-stressed communities to bear the consequences. During the first week of May, two separate data center developments were found using restricted public water sources in areas already struggling with limited water availability, Fortune reports. Residents were the first to notice the problem and alert regulators, reporting issues such as low water pressure in Fayette County, Georgia, and dust suppression efforts in Tucson, Arizona. Data Center Water Disputes Emerge in Georgia and Arizona In the Annelise Park subdivision in Fayette County, GA, residents began noticing declining water pressure last year, per Fortune. An investigation by county utilities uncovered two industrial-scale water connections serving Project Excalibur, a 615-acre data center campus owned by Blackstone and developed by Quality Technology Services (QTS). County officials notified QTS in May 2025 that one meter had...
Instructure Inc., the parent company behind academic portal Canvas, is facing scrutiny following a cyberattack claimed by prominent hacker group ShinyHunters that disrupted schools and universities across the United States during final exams, including several Historically Black Colleges and Universities . According to Instructure’s incident response webpage, the first breach occurred on April 29, 2026, followed by a second incident on May 7, when unauthorized activity reportedly resulted in changes to Canvas pages. In response, Instructure temporarily shut down affected services, locking students and instructors out. “The unauthorized actor made changes to the pages that appeared when some students and teachers were logged in through Canvas. Out of caution, we temporarily took Canvas offline into maintenance mode to contain the activity, investigate, and apply additional safeguards,” Instructure said. “Due to monitoring that we implemented after the first attack, we detected and...
Google is repositioning its software strategy from an operating system model to what it calls an “intelligence system,” rethinking laptops with the launch of the Googlebook. According to a blog post from Alex Kushcer, Google’s senior director of laptops and tablets, the Googlebook is the first laptop designed completely for Gemini Intelligence. The device builds on the foundation of the Chromebook lineup and expands its integration with Android apps and Google’s Gemini AI assistant , aiming to create a more unified experience across devices. Inside Googlebook One of the major features of the Googlebook starts with the cursor, which Google says hasn’t seen much meaningful change over the years, despite being one of the most frequently used tools on a laptop. The Googlebook will feature a Gemini-integrated Magic Pointer. To use it, users simply move the cursor over items on the screen, activating Gemini to provide quick, contextual suggestions. The Googlebook also includes “Create...
PayPal Inc. will forgo an estimated $30 million in processing fees for roughly $1 billion in transactions as part of a settlement resolving a U.S. Justice Department probe into the company’s diversity, equity, and inclusion (DEI) initiatives. The investigation stemmed from allegations that PayPal violated federal civil rights laws through its Economic Opportunity Fund, an initiative launched in 2020 and designed to support Black and minority-owned businesses, according to a news release. Inside The PayPal-DOJ Settlement Under the settlement, PayPal agreed to launch a new Small Business Initiative that excludes eligibility criteria based on race, national origin, or other protected characteristics. The program will waive processing fees for qualifying American small businesses that are veteran-owned or operate in farming, manufacturing , or technology industries. “This Department of Justice is delivering on President Trump ‘s vow to root out illegal DEI from every corner of corporate...
Byron Allen is expanding his media empire by acquiring a majority stake in BuzzFeed Inc. for $120 million. According to a May 11, 2026, news release, the transaction through Allen Family Digital — an affiliate of Allen’s family office — will also see Allen become chairman and CEO of BuzzFeed, succeeding current chief executive Jonah Peretti. Peretti will transition to the newly created role of president of BuzzFeed AI. “Jonah is a great visionary and has done a phenomenal job. BuzzFeed and HuffPost have become two iconic global digital media brands with powerful audience reach and strong cultural importance,” Allen said in the release. “Our vision is to build on the iconic foundation of BuzzFeed and HuffPost by expanding into free-streaming video, audio, and user-generated content. As of this moment, with the power of AI, BuzzFeed is officially chasing YouTube to become another premier free video streaming service.” Per the terms of the agreement, Allen Family Digital will acquire...
As debates surrounding AI continue across industries, researchers at Cedars-Sinai Medical Center are using the technology to help improve cancer treatment outcomes. According to Cedars-Sinai, investigators at the California-based health system co-developed an AI-powered platform to predict, on an individual basis, which of two chemotherapy options may be more effective for pancreatic cancer patients. Andrew Hendifar, MD, medical director of Pancreatic Cancer at Cedars-Sinai Cancer and first author of the study, noted that a major challenge in treating advanced pancreatic cancer is that there is currently no conclusive data showing which of the two approved chemotherapy regimens works best for each patient. As a result, physicians often begin treatment with one regimen, monitor the patient’s response, and switch therapies if necessary. Hendifar noted that the approach can be harmful because ineffective chemotherapy may further weaken a patient’s health instead of improving it. “If...
Cloudflare has joined the growing list of organizations implementing workforce reductions as companies restructure around the rapid adoption of AI tools. In a blog post on Thursday, May 7, 2026, the global cloud infrastructure and cybersecurity company announced plans to cut more than 1,100 jobs globally. Cloudflare Executives Detail Layoffs As AI Use Soars Across Organization In the blog post, Cloudflare CEO Matthew Prince and co-founder Michelle Zatlyn said the company is restructuring teams and workflows to align with what they called the “agentic AI era.” “Today is a hard day,” they wrote. “This decision unfortunately means saying goodbye to teammates who have contributed meaningfully to our mission and to building Cloudflare into one of the world’s most successful companies.” Cloudflare had 5,156 full-time employees at the end of 2025 and expects to incur charges of $140 million to $150 million related to the layoffs during the second quarter, Reuters reports . These layoffs...
The NAACP is continuing its advocacy efforts against xAI and its subsidiary, MZX Tech, following news of a partnership involving the Colossus 1 data center near Memphis, TN, and Southaven, MS. On Wednesday, May 6, 2026, xAI announced that Anthropic had signed an agreement to access Colossus 1, the massive AI supercomputer developed by Elon Musk’s company, which features over 220,000 NVIDIA GPUs. Anthropic said the added computer power will help improve capacity for Claude Pro and Claude Max subscribers. In a statement shared with AFROTECH™, Abre’ Conner, the NAACP’s director of Environmental and Climate Justice, said the deal sends a clear message about “who any company that disregards the obvious environmental and health concerns of Black communities to supposedly power a future that will help us all” is truly serving. “Black and other frontline communities have demanded not to be treated as sacrifice zones for a digital future that perpetuates the harms of the past,” Conner added....
Harvard University is supporting a new coalition of HBCUs with a $1.05 million grant to strengthen research capacity across 15 institutions. Formally launched April 29, 2026, at Howard University, the Association of Historically Black Colleges and Universities Research Institutions (AHRI) is a coalition that brings together schools working to expand their collective research, innovation, and impact, according to a news release. The funding, awarded through the Harvard & the Legacy of Slavery (H&LS) Initiative, will help build research infrastructure and provide technical support as member institutions work toward achieving R1 status, the highest level of research activity under the Carnegie Classification of Institutions of Higher Education, per the release. “Through this three-year grant to AHRI, the H&LS Initiative is deepening our commitment to developing enduring partnerships with HBCUs,” said Sara Naomi Bleich, Harvard’s vice provost for special projects, The Harvard Gazette...
As the streaming industry continues to grow, many Black artists still struggle to own their music and capture its full value — a gap Connect Music aims to close. Founded in 2020, Connect Music is a Memphis-based independent music distribution, publishing, and rights management company that helps independent artists and labels monetize their work, secure funding, and retain 100% ownership. It operates as a curated, closed platform, meaning artists can’t simply sign up through a public portal. The company’s catalog success includes Dee Mula’s viral hit “Blow My High,” alongside collaborations with Grammy-nominated producers Mike & Keys and artists including Sauce Walka, Don Trip, Boosie Badazz , and BIG30. Scaling Connect Music At its helm are President and CEO George Monger and Chief Technology Officer Ivan Walker. Together, they lead a tech-driven company operating at the intersection of finance, data, analytics, and culture — where strategy guides every move. “When you recognize...
A federal judge has approved a $425 million settlement with Capital One , resolving a lawsuit that accused the bank of deceptive marketing practices. The case stems from claims that Capital One failed to raise interest rates on its 360 Savings accounts in line with rates offered on its newer 360 Performance Savings accounts, according to the settlement website. Plaintiffs also alleged that the bank continued to market the original 360 Savings account as a high-yield option while failing to clearly disclose the existence of the higher-rate alternative. Who Is Eligible For The Capital One Settlement? Customers who held a Capital One 360 Savings account at any point between September 18, 2019, and June 16, 2025, are eligible for compensation. How Will Capital One Send Settlement Payments? As part of the settlement , eligible customers will automatically receive a cash distribution via mailed check, notes the settlement website. The deadline to choose electronic payment instead of a...