Boeing CEO Dennis Muilenburg. Photo: Alex Wong/Getty Images

Boeing CEO Dennis Muilenburg said Wednesday that he plans to contribute a substantial amount of the "tens of millions of dollars" he's forgoing in pay to funds the company has set up for the families of the 346 victims of the two 737 MAX crashes.

Background: Speaking at the New York Times' DealBook conference, Muilenburg said the decision to forgo his bonuses came after he met last week with the families of the people killed in the crashes caused by faulty technology in Boeing's signature plane.

Details: In an interview with CNBC, Boeing's new chair Dave Calhoun said Muilenberg would not be awarded any bonuses or any equity grants for this year "until the [737 Max in its entirety is back in the air and flying safely."

Yes, but: Muilenburg didn't detail how of his pay much he'd donate.

  • A Boeing spokesperson tells Axios in an email that Muilenburg "has committed to donating the entire value of any previous equity grants that vest in 2020." He'll receive the equity, then donate the value.
  • Muilenburg elaborated at DealBook he also plans to donate part of his bonuses to charity, while another part will be allocated to the victims compensation fund. The Boeing spokesperson said how much would go to the charity vs. the compensation fund has not yet been determined.
  • As for which organization and which funds the money will go toward: "it will depend on where the greatest need is at the time of vesting (Feb/Mar 2020)," the spokesperson said.

The big picture: Last week, Muilenburg took heat from lawmakers about his 2018 compensation — which included a $13.1 million bonus, per CNBC — in light of the incidents. In total, the CEO received $23.4 million in compensation last year

  • Muilenburg, who has been pressed to resign, said he had "thought about resigning" in the wake of the 737 MAX crisis, but he didn't see "running away from a challenge" as the "right solution."

Go deeper: Everything you need to know about the Boeing 737 MAX crashes

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Natural gas pipeline project cancelled after Supreme Court victory

Photo: Rafael Henrique/SOPA Images/LightRocket via Getty Images

Dominion Energy announced Sunday it has agreed to sell its natural gas transmission and storage network to Warren Buffett's Berkshire Hathaway in a deal valued at $10 billion, including the assumption of debt.

Why it matters: The deal comes as Duke Energy Corp. and Dominion Energy announced they are canceling their plans for the $8 billion Atlantic Coast Pipeline following a Supreme Court ruling. The ruling removed major hurdles for the companies, but "recent developments have created an unacceptable layer of uncertainty and anticipated" for the project.

Trump campaign "strongly" encourages face masks at outdoor rally

Photo: Jabin Botsford/The Washington Post via Getty Images

The Trump campaign will be providing face masks and hand sanitizer for all attendees at an upcoming rally Saturday in Portsmouth, New Hampshire.

  • The campaign said in an email on Sunday that attendees are "strongly encouraged" to wear the masks.

Why it matters: The campaign's first coronavirus-era rally in Tulsa, Oklahoma, was notable for its lack of masks.

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 2 p.m. ET: 11,317,637 — Total deaths: 531,729 — Total recoveries — 6,111,910Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 2,852,807 — Total deaths: 129,718 — Total recoveries: 894,325 — Total tested: 34,858,427Map.
  3. States: Photos of America's pandemic July 4 ICU beds in Arizona hot spot near capacity — Houston mayor warns about hospitals
  4. Public health: U.S. coronavirus infections hit record highs for 3 straight days.
  5. Politics: Former Trump official Tom Bossert says face masks “are not enough”
  6. World: Mexican leaders call for tighter border control as infections rise in U.S.
  7. Sports: Sports return stalked by coronavirus
  8. 1 📽 thing: Drive-in movie theaters are making a comeback.