Current:Home > ContactMacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits -WealthStream
MacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits
View
Date:2025-04-17 21:53:30
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! (9985)
Related
- This was the average Social Security benefit in 2004, and here's what it is now
- China calls for a cease-fire in Myanmar fighting but will continue its own border drills
- Artist Zeng Fanzhi depicts ‘zero-COVID’ after a lifetime of service to the Chinese state
- John Travolta Shares Sweet Tribute to Son Benjamin for His 13th Birthday
- Could your smelly farts help science?
- 13 crew members missing after a cargo ship sinks off a Greek island in stormy seas
- Honda recalls select Accords and HR-Vs over missing piece in seat belt pretensioners
- The best Super Mario Bros. games, including 'Wonder,' 'RPG,' definitively ranked
- San Francisco names street for Associated Press photographer who captured the iconic Iwo Jima photo
- Israel-Hamas war rages with cease-fire delayed, Israeli hostage and Palestinian prisoner families left to hope
Ranking
- DoorDash steps up driver ID checks after traffic safety complaints
- Four-star QB recruit Antwann Hill Jr. latest to decommit from Deion Sanders, Colorado
- Terry Venables, the former England, Tottenham and Barcelona coach, has died at 80
- Still looking for deals on holiday gifts? Retailers are offering discounts on Cyber Monday
- Costco membership growth 'robust,' even amid fee increase: What to know about earnings release
- Ex-Binance CEO Changpeng Zhao asks judge to let him leave U.S. before sentencing for money laundering
- Giving Tuesday: How to donate to a charity with purpose and intention
- Tens of thousands march in London calling for a permanent cease-fire in Gaza
Recommendation
Selena Gomez engaged to Benny Blanco after 1 year together: 'Forever begins now'
China says a surge in respiratory illnesses is caused by flu and other known pathogens
Why Deion Sanders isn't discouraged by Colorado's poor finish: 'We getting ready to start cookin'
Plaquemine mayor breaks ribs, collarbone in 4-wheeler crash
Moving abroad can be expensive: These 5 countries will 'pay' you to move there
Schools in Portland, Oregon, reach tentative deal with teachers union after nearly month-long strike
Israeli forces kill at least 8 Palestinians in surging West Bank violence, health officials say
Biden says 4-year-old Abigail Edan was released by Hamas. He hopes more U.S. hostages will be freed