Current:Home > reviewsMacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits -Financial Clarity Guides
MacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits
View
Date:2025-04-12 08:18:05
Billionaire philanthropist and Amazon co-founder MacKenzie Scott announced Tuesday that she has donated another $640 million of her fortune to hundreds of nonprofit organizations.
Scott has already given billions to charity, but she changed her approach slightly for this most recent round of donations. For the first time, she set up an open call for nonprofits to directly apply for a gift through her organization, Yield Giving. In the past, her organization had participated in "quiet research," which involved privately and anonymously finding deserving organizations and secretly contacting them.
The open call had over 6,000 applicants, from which 361 organizations from 38 states, Washington D.C. and Puerto Rico were selected "for their outstanding work advancing the voices and opportunities of individuals and families of meager or modest means, and groups who have met with discrimination and other systemic obstacles," Scott said in a statement.
Yield Giving had originally planned to grant $1 million in gifts to 250 organizations when the initiative was announced last year. But, because of the impressive applications they got, evaluators decided to expand the awardee pool and how much they would receive: 279 organizations were gifted $2 million each, while 82 others were given $1 million each, Yield Giving said.
"The Open Call awardees are all making positive change in their communities by reducing disparities in economic outcomes, education, health, and other critical issues," the organization said.
Scott is the fourth-richest woman in the world with a net worth of just under around $35 billion, according to Forbes. After her divorce from Jeff Bezos in 2019, Scott received a 4% stake in the company, boosting her wealth and personal net worth. She signed the Giving Pledge that year, committing the majority of her wealth to society.
Last year, the philanthropist donated over $2 billion to 360 organizations, saying in a brief post on Yield Giving's website that she was "inspired by all the ways people work together to offer each other goodwill and support."
Many of the causes Scott focuses her donations on are often related to education, the arts, public health and diversity. A few awardees of the open call include ACLU of Alabama, Black Girl Ventures, GLBTQ Legal Advocates and Defenders, and Ser Familia.
Simrin SinghSimrin Singh is a social media producer and trending content writer for CBS News.
veryGood! (82559)
Related
- The Louvre will be renovated and the 'Mona Lisa' will have her own room
- More States Crack Down on Pipeline Protesters, Including Supporters Who Aren’t Even on the Scene
- Ryan Gosling Reflects on Moment Eva Mendes Told Him She Was Pregnant With Their First Child
- Biden touts economic record in Chicago speech, hoping to convince skeptical public
- 'Vanderpump Rules' star DJ James Kennedy arrested on domestic violence charges
- With Biden’s Win, Climate Activists See New Potential But Say They’ll ‘Push Where We Need to Push’
- Ryan Mallett, former NFL quarterback, dies in apparent drowning at age 35
- Save $300 on This Stylish Coach Outlet Tote Bag With 1,400+ 5-Star Reviews
- Brianna LaPaglia Reveals The Meaning Behind Her "Chickenfry" Nickname
- Four men arrested in 2022 Texas smuggling deaths of 53 migrants
Ranking
- North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference
- UN Launches Climate Financing Group to Disburse Billions to World’s Poor
- Wild ’N Out Star Ms Jacky Oh! Dead at 33
- World People’s Summit Calls for a Climate Justice Tribunal
- Gen. Mark Milley's security detail and security clearance revoked, Pentagon says
- Judge Blocks Trump’s Arctic Offshore Drilling Expansion as Lawyers Ramp Up Legal Challenges
- New Orleans Finally Recovering from Post-Katrina Brain Drain
- How Deep Ocean Wind Turbines Could Power the World
Recommendation
Tom Holland's New Venture Revealed
Solar Panel Tariff Threat: 8 Questions Homeowners Are Asking
Tax Bill Impact: What Happens to Renewable Energy?
Microinsurance Protects Poor Farmers Facing Increasing Risks from Climate Change
Charges tied to China weigh on GM in Q4, but profit and revenue top expectations
That ’70s Show Alum Danny Masterson Found Guilty of Rape
More States Crack Down on Pipeline Protesters, Including Supporters Who Aren’t Even on the Scene
Airline passengers are using hacker fares to get cheap tickets