MacKenzie Scott announced Wednesday, Dec. 18, another $2 billion in donations to various nonprofits. Over the past five years, the philanthropist has given part of her wealth to “mission-aligned ventures” that create economic opportunity.
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Since 2019, Scott has donated $19.2 billion to close to 2,500 nonprofits with the support of her advisers. The author published a blog post detailing her giving on her website, Yield Giving.
“I’ve asked the investment team helping me manage the assets I’m working to give away to source funds and companies focused on for-profit solutions to these challenges,” Scott wrote.
Point phone camera here
She said her advisers help manage her assets and create a fund for companies to pull directly from. Her website says it was established with the idea of “adding value by giving up control.”
Scott has created a trust-based system with unrestricted grants. It allows recipients to spend the funding however necessary to further their organization’s mission.
While Scott has signaled her support for a wide array of groups –– from affordable housing to educational support for girls in Africa –– experts said the billionaire is starting to focus more on issues surrounding poverty.
Even with her significant giving, Forbes estimates Scott’s wealth to be more than $30 billion.
Scott’s wealth partially stems from her divorce from Amazon founder Jeff Bezos and the shares in the company that she received following the separation.
[Lauren Taylor]
MORE THAN NINETEEN BILLION DOLLARS IN DONATIONS—THAT’S ALL AT THE HANDS OF ONE PHILANTHROPIST TRADING IN PART OF HER WEALTH IN A MISSION TO CREATE ECONOMIC OPPORTUNITY.
MACKENZIE SCOTT’S GRANTS HAVE GONE TO CLOSE TO 25 HUNDRED NON-PROFITS WITH THE SUPPORT OF HER ADVISERS. IN A BLOG POST ON HER WEBSITE YIELD GIVING, THE AUTHOR SAYS THEY MANAGE HER ASSETS AND CREATE A FUND FOR COMPANIES TO DIRECTLY PULL FROM.
SCOTT CREATED A TRUST BASED SYSTEM WITH HER UNRESTRICTED GRANTS–
MEANING THE RECIPIENT CAN SPEND THE FUNDING HOWEVER THEY DEEM NECESSARY TO FURTHER THEIR MISSIONS.
TYPICALLY SCOTT GIFTS AN ORGANIZATION ONE TIME AND IN MANY CASES IT COMES AS A SHOCK. SHE EITHER DONATES ANONYMOUSLY OR GIVES NOTICE WITH A PHONE CALL OR EMAIL.
WEDNESDAY, SCOTT ANNOUNCED SHE’S PLEDGING ANOTHER TWO BILLION DOLLARS IN DONATIONS.
SCOTT SHOWS SUPPORT FOR A WIDE ARRAY OF GROUPS, FROM AFFORDABLE HOUSING TO EDUCATIONAL SUPPORT FOR GIRLS IN AFRICA. EXPERTS SAID SHE’S STARTING TO FOCUS MORE ON ISSUES SURROUNDING POVERTY.
EVEN WITH HER GENEROUS GIVING OVER THE COURSE OF FIVE YEARS–SHE’S STILL ESTIMATED TO BE WORTH MORE THAN 30 BILLION DOLLARS.
HER WEALTH MOSTLY STEMS FROM AMAZON SHARES SHE COLLECTED IN THE DIVORCE FROM JEFF BEZOS, THE FOUNDER OF THE DIGITAL SHOPPING GIANT.
FOR STRAIGHT ARROW NEWS, I’M LAUREN TAYLOR
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