One Of The Richest Women In The World Donates $2 Billion to Charity

Mackenzie Scott

This holiday season, billionaire philanthropist MacKenzie Scott has revealed that she has donated over $2 billion to 199 organizations.

Based on her prior public declarations of her charitable contributions, that brings Scott’s total donations since 2019 to $19.2 billion.

Scott, who became one of the richest women in the world after her 2019 divorce from Amazon founder Jeff Bezos, is still valued at $31.6 billion by Forbes. As part of the divorce settlement, Scott was given a 4% share in Amazon.

A large portion of this most recent round of donations was given to charities that is focused on alleviating poverty, Scott wrote in a blog post.

“Roughly 75% of them are non-profits that support the economic security and opportunity of people who are struggling,” she wrote.

She went on to say that the organizations provide services that range from post-secondary education and child development to healthcare, financial counseling, and access to affordable housing.

Scott has donated to other organizations that address issues such as “natural resources conservation and human rights.”

Scott pledged to donate the majority of her wealth during her lifetime when she signed “The Giving Pledge” in 2019, shortly after her divorce settlement. Since then, she has consistently appeared on Forbes’ list of the wealthiest billionaires, donating about one-third of her wealth, according to the magazine’s most recent list, which was released in February.

As she attempts to address these issues through her philanthropy, Scott has given her investment advisors the task of finding “funds and companies focused on for-profit solutions to these challenges.”

By doing this, Scott would be joining other well-known billionaire philanthropists who have adopted the practice of “impact investing.”

This includes Walmart heir Lukas Walton, whose Builders Vision investing and philanthropy platform moved 90% of its billion-dollar endowment into impact investments in 2022, and the Bill and Melinda Gates Foundation’s Strategic Investment Fund, which concentrates on the global health space.

Scott says before she takes her profits and gives them to nonprofits, she wants to make a difference by investing with funds and businesses that provide answers to societal problems.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *