Billionaire MacKenzie Scott Surprises with $640m in Donations
NEW YORK — In a stunning display of generosity, billionaire philanthropist MacKenzie Scott has decided to donate $640m (£504m) to non-profit organizations, more than doubling her previously planned contributions for the year.
Scott made the announcement this week, revealing that the substantial sum will be distributed among 361 small groups, selected from over 6,000 organizations that applied for funding.
Originally, Scott had intended to make 250 awards of $1m each in 2021, but her decision to increase the donation amount showcases her commitment to supporting various causes.
Since her high-profile divorce from Amazon’s Jeff Bezos in 2019, Scott has already given away a remarkable $16.5bn to charitable organizations, reflecting her dedication to philanthropy.
With a net worth of $37.5bn, she is ranked as the fourth richest woman in the world by Forbes and has vowed to give away half of her wealth throughout her lifetime.
The majority of the funds stem from a 4% stake in Amazon that was part of her divorce settlement with Bezos, the renowned founder of the tech giant.
Notable recipients of Scott’s recent donations include the American Civil Liberties Union (ACLU) of Alabama, Justice for Migrant Women, the Sacramento LGBT Community Center, and Mental Health Advocacy Services.
Scott took to social media to express that the grants were awarded to organizations that have made significant strides in empowering individuals and families facing financial hardships, discrimination, and systemic barriers.
This year, Scott departed from her previous strategy of discreetly approaching organizations with substantial, unrestricted gifts. Instead, after a meticulous review process, she decided to grant $2m to 279 non-profits and $1m to 82 groups.
The remarkable efforts of many applicants impressed the team overseeing the donations, prompting them to increase both the number and amount of awards, as highlighted by Lever for Change, the group managing the applications. — BBC
