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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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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
MPWBroadsheet

Postpartum Depression Drug, Google Fine, Bumble VC: Broadsheet March 21

By
Claire Zillman
Claire Zillman
and
Emma Hinchliffe
Emma Hinchliffe
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By
Claire Zillman
Claire Zillman
and
Emma Hinchliffe
Emma Hinchliffe
Down Arrow Button Icon
March 21, 2019, 8:07 AM ET
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Good morning, Broadsheet readers! The FDA approves its first drug to treat postpartum depression, women CEOs lean less Republican than their male peers, and teens are learning from parents—and not in a good way. Enjoy your Thursday.

EVERYONE'S TALKING

• The next generation's gender gap. By now, Broadsheet readers are likely familiar with the time-use gender gap: That men have about 30 more minutes of free time a day due, in large part, to the time women dedicate to chores, child care, and their own personal upkeep. It’s a drum we beat quite often.

But recent research tells us something new: that the gap is not limited to adults—teens experience it too.

Boys, ages 15-17, have about six hours of leisure time per day, versus girls’ five hours or so, according to Pew. What accounts for the difference? Girls commit more time than boys to errands, homework, and—similar to their older counterparts—grooming and housework, 23 minutes and 14 minutes each day, respectively. (It should be noted that girls are also more likely to say they feel tense or nervous about their day every or almost every day—36% versus 23%.)

“When it comes to the amount of time spent on housework, the differences between boys and girls reflect gender dynamics that are also evident among adults,” the Pew study says. In short, teens are picking up on parents' cues.

“Kids’ activities are in part driven by their own parents’ gender division of labor,” Jill Yavorsky, a sociologist at the University of North Carolina at Charlotte, told The Atlantic in a recent piece. “These really mirror each other in a lot of ways."

But just as adolescents can mimic negative traits, they can take up positive ones too. Grown sons of working mothers are likely to spend more time on child care, while adult daughters of working moms have a tendency to work longer hours and earn more money than those whose moms didn’t work.

While much as been made of erasing the lines between boys and girls in a material sense (recall, for instance, that retailer Target eliminated its gender-based signage a few years back), what really needs our attention, as The Atlantic’s Joe Pinsker points out, are the gendered signals we're sending at home.

Claire Zillman
@clairezillman
claire.zillman@fortune.com

 

ALSO IN THE HEADLINES

• FDA-approved. The FDA has, for the first time ever (!), approved a drug to treat postpartum depression. In clinical trials, the drug brexanolone, labeled Zulresso, administered through an IV drip over 60 hours worked within hours to treat the condition. Huffington Post

• Vestager's verdict. Google was hit with a $1.7 billion fine, its third antitrust fine in Europe courtesy of Margrethe Vestager, the EU commissioner for competition. "They shouldn’t do that—it denied consumers choice, innovative products and fair prices," Vestager said of Google's AdSense for Search program restricting users from using other companies' ad tools. Vanity Fair

• Called out for the crisis. A new lawsuit singles out members of the billionaire Sackler family that owns Purdue Pharma, accusing them of causing the opioid crisis. Beverly Sackler, Ilene Sackler Lefcourt, Kathe Sackler, and Theresa Sackler are named among the group alleged to have pushed to increase sales of Oxycontin despite knowing about its addictive qualities. Bloomberg

• CEO on climate change. Vicki Hollub (No. 28 on our Most Powerful Women list) is the chief executive of Occidental Petroleum—and her goal is for the oil group to be carbon-neutral, capturing greenhouse gases that equal the emissions from its oil and gas operations. "I’m thinking about the long term for our shareholders," Hollub says. Financial Times

MOVERS AND SHAKERS: Kimberly Williams will be one of three interim co-heads of Warner Bros. Studio after the resignation of Kevin Tsujihara. Lynne Hopper has been named VP of engineering at Boeing amid the crisis over its 737 MAX aircraft. Emily Maitlis, Emma Barnett, and Kirsty Wark will make up the first all-female presenting team on BBC's Newsnight, alongside their editor Esme Wren. Véronique Laury, No. 18 on Fortune's Most Powerful Women International list, is stepping down as CEO of Kingfisher. Anne Morrissey joins SigFig as CFO.

IN CASE YOU MISSED IT

• Keeping up with Kazakhstan. A succession is underway in Kazakhstan after the unexpected resignation of longtime autocratic leader Nursultan Nazarbayev, who has been in power since 1989. His daughter, Dariga Nazarbayeva, is suspected to be in line to take over the government; she's already been named speaker of the senate, putting her second in line to the presidency.  Reuters

• Political leanings. Business leaders overwhelmingly support the GOP—unless those leaders are women. Overall, 58% of CEOs donated to Republicans, but the women within that category were split evenly between giving to Republicans, Democrats, or to both. New York Times

• Now presiding. As the Russia investigation continues, women judges are key players in many of the behind-the-scenes developments. That's because most of the federal judges in D.C. are women, including Judge Amy Berman Jackson, Chief Judge Beryl Howell, Judge Dabney Friedrich, and Judge Tanya Chutkan. They've been presiding over the grand jury process, arraignments, and guilty pleas. NPR

• The three Bs. The Washington Post's Margaret Sullivan writes about the self-fulfilling prophecy of the media devoting much of its 2020 attention to "the B boys": Bernie, Beto, and Biden. The fixation on those three drowns out the reality of a historically diverse Democratic field, including its five female candidates.  Washington Post

Today's Broadsheet was produced by Emma Hinchliffe. Share it with a friend. Looking for previous Broadsheets? Click here.

ON MY RADAR

Bumble is in talks for its first round of VC funding Axios

How I get it done: Suze Orman gives money advice from her private island The Cut

Mindy Kaling autobiographical teen series coming to Netflix Mashable

Jenny Lewis is still figuring it out The Cut

QUOTE

All I want behind me is a trail of open doors and shattered glass.
Baltimore Center Stage artistic director Stephanie Ybarra on blazing a trail for people of color
About the Authors
Claire Zillman
By Claire ZillmanEditor, Leadership
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Claire Zillman is a senior editor at Fortune, overseeing leadership stories. 

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Emma Hinchliffe
By Emma HinchliffeMost Powerful Women Editor
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Emma Hinchliffe is Fortune’s Most Powerful Women editor, overseeing editorial for the longstanding franchise. As a senior writer at Fortune, Emma has covered women in business and gender-lens news across business, politics, and culture. She is the lead author of the Most Powerful Women Daily newsletter (formerly the Broadsheet), Fortune’s daily missive for and about the women leading the business world.

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