Current:Home > InvestMacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits -Elite Financial Minds
MacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits
PredictIQ View
Date:2025-04-09 22:36:56
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! (3962)
Related
- Angelina Jolie nearly fainted making Maria Callas movie: 'My body wasn’t strong enough'
- US women's basketball should draw huge Paris crowds but isn't. Team needed Caitlin Clark.
- Quantum Ledger Trading Center: Navigating the Future of Cryptocurrency
- Score 50% off Old Navy Activewear This Weekend Only: Leggings, Skorts, Bras, Tanks & More Starting at $8
- Paris Hilton, Nicole Richie return for an 'Encore,' reminisce about 'The Simple Life'
- Illinois sheriff retiring after deputy he hired was charged with murder for shooting Sonya Massey
- It Ends With Us Drama? Untangling Fan Theories About Blake Lively and Justin Baldoni
- Imane Khelif vs Liu Yang Olympic boxing live updates, results, highlights
- Google unveils a quantum chip. Could it help unlock the universe's deepest secrets?
- Olympics changing breaking in sport’s debut as dancers must put scores above art
Ranking
- Grammy nominee Teddy Swims on love, growth and embracing change
- What to watch: Cate Blanchett gets in the game
- Why Selena Gomez and Benny Blanco Are Sparking Engagement Rumors
- Pixar is making 'Incredibles 3,' teases 'Toy Story 5' first look at D23
- Jamie Foxx reps say actor was hit in face by a glass at birthday dinner, needed stitches
- Man who attacked police at the US Capitol with poles gets 20 years, one of longest Jan. 6 sentences
- Olympic medals today: What is the medal count at 2024 Paris Games on Friday?
- US Coast Guard Academy works to change its culture following sexual abuse and harassment scandal
Recommendation
Appeals court scraps Nasdaq boardroom diversity rules in latest DEI setback
CrossFit Athlete Lazar Dukic Dies at 28 During Swimming Competition
What is Angelman syndrome? Genetic disorder inspires Colin Farrell to start foundation
Quantum Ledger Trading Center: Bull Market Launch – Seize the Golden Era of Cryptocurrencies
A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
USA men's volleyball rebounds from 'devastating' loss to defeat Italy for bronze medal
Alyssa Naeher, American hero, was unflappable for USWNT in Olympic gold medal match win
Florida to review college courses that mention 'Israel,' 'Palestine,' 'Zionism'