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Photo illustration: Aïda Amer. Photo: Horacio Villalobos/Corbis via Getty Images

Katherine Maher, the Wikimedia Foundation's CEO, will step down as of April 15, she tells Axios, leaving the nonprofit in a vastly stronger position than she found it when she joined in 2014.

Why it matters: Wikipedia is growing to become the most global and trusted source of knowledge in the world. Its base of active editors is rising, its number of women editors has increased by 30% just in the past year, and it has upgraded not only its website but also its app, which is now available for feature phones as well as smart phones.

Financially, the Wikimedia Foundation now has an endowment of more than $90 million, and has doubled its annual budget to an estimated $140 million in 2021.

  • It's hard to think of any other tech nonprofit that has been remotely as successful. OpenAI effectively became a for-profit in 2019, while Signal is still reliant on a single donor, Brian Acton.

Between the lines: One area that Wikimedia has been particularly successful is in garnering trust. That's also an area the news media could use some pointers.

  • Driving the trust: Maher is proud of her new Universal Code of Conduct, but also credits the diversity of Wikipedia's editors as a key ingredient creating trust in its content.
  • "Disagreement is the essential friction that produces our best content," she says.
  • A prime example: The magisterial 14,000-word article (plus 492 footnotes and a very detailed discussion) detailing the storming of the U.S. Capitol last month.

What's next: The Wikimedia Foundation board has created a committee to search for Maher's successor. Maher tells Axios that she hopes the next leader will "come from the future of knowledge" — by which she means Africa, the Indian subcontinent, or Latin America.

  • Maher herself says she intends to move back to the East Coast. She's up for a challenge — and there are some big jobs available.

Editor's note: This story has been updated to reflect that the Wikimedia Foundation has an endowment of more than $90 million.

Go deeper

U.S. economy grew at a 6.5% rate last quarter, missing expectations

Contractors work on a home under construction. (Photo: Micah Green/Bloomberg via Getty Images)

The U.S. economy grew at an annualized 6.5% rate last quarter, the government said Thursday.

Why it matters: It's a slower pace of growth than the 8.4% that forecasters expected, with the economy reopening, vaccines rolling out and government aid rolling in. But the economy has officially recovered from its pandemic-induced plunge.

Updated 2 hours ago - Sports

Olympics dashboard

Team USA's Simone Biles during the women's team final on day four of the Tokyo 2020 Olympic Games at Ariake Gymnastics Centre on Tuesday in Japan. Photo: Fred Lee/Getty Images

🤸🏾‍♀️: Simone Biles reacts to "love and support" after withdrawing from all-around gymnastics and team finals, citing her mental health

🏃: U.S. pole vaulter Sam Kendricks withdraws from Games after positive coronavirus test

🏊‍♂️: Caeleb Dressel wins gold in men's 100m freestyle —Bobby Finke wins gold in first men's Olympic 800m freestyle

📷: In photos: Tokyo Olympics day 6 highlights

🗓: The Olympic events to watch today

💵: Olympic athletes see more sponsorship opportunities

🏃‍: Female Olympians push back against double standard in uniforms

Go deeper: Full Axios coverage - Medal tracker

Felix Salmon, author of Capital
2 hours ago - Economy & Business

Giant earnings growth for the world's largest companies

Illustration: Aïda Amer/Axios

Never in the history of capitalism have the world's biggest companies grown as fast as the tech giants in recent years.

Why it matters: A series of stunning earnings reports this week — with another one likely to arrive Thursday afternoon, from Amazon — has underscored the astonishing growth among a group of companies that were already some of the most profitable of all time.