MacKenzie Scott introduced Wednesday in a blog post that she has donated $2 billion this yr to 199 organizations. The 54-year-old billionaire philanthropist has now given away a complete of $19.2 billion since 2019, per AP.
About 75% of the organizations that Scott has donated to this yr are nonprofits centered on financial safety and alternative. They deal with causes like inexpensive housing, healthcare, jobs, and loans.
For instance, final month, Scott donated $65 million to Enterprise Group Companions, a nonprofit that tackles the inexpensive housing scarcity in america. It was the second present Scott gave the group; the primary was $50 million in 2020.
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The remaining organizations deal with different causes associated to human well-being, comparable to pure useful resource conservation and human rights.
MacKenzie Scott. Photograph by Jerod Harris/Getty Photos
Scott has taken a “trust-based” philanthropic method, giving massive sums of cash over the previous 5 years with no circumstances hooked up to greater than 2,500 organizations and detailed how her method to giving differs from the remaining.
What Does MacKenzie Scott Search for When Donating?
Scott has requested her funding crew to seek out corporations centered on for-profit options to the identical points that nonprofits deal with.
As a substitute of transferring funds from a private checking account or inventory portfolio, Scott want to supply her donations from a portfolio of investments she has made in ventures with the identical mission because the nonprofit that can obtain the present.
This manner the cash has a two-fold objective: first by “unlocking… innovation” within the personal sector and second by “creating worth” in nonprofits, Scott wrote in a blog post launched Wednesday.
“I am impressed by all of the methods folks spend money on one another,” she wrote.
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Most of Scott’s wealth comes from the shares in Amazon she acquired after divorcing Amazon founder Jeff Bezos in 2019.
She offered more than 45 million shares of Amazon inventory valued at almost $8.4 billion final month earlier than making a $65 million donation to Native Initiatives Help Corp, a group assist group.
Scott is value round $40.3 billion and is the thirty ninth richest individual on the planet, in keeping with the Bloomberg Billionaires Index.
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