Current:Home > InvestJohnathan Walker:MacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits -GrowthSphere Strategies
Johnathan Walker:MacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits
Benjamin Ashford View
Date:2025-04-10 08:26:46
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! (336)
Related
- Biden administration makes final diplomatic push for stability across a turbulent Mideast
- Suspected pirate attack in the Gulf of Aden raises concerns about growing Somali piracy
- Love Is Blind's Bliss Poureetezadi Gives Birth, Welcomes Baby With Zack Goytowski
- US appeals court says Pennsylvania town’s limits on political lawn signs are unconstitutional
- North Carolina justices rule for restaurants in COVID
- Pacers coach Rick Carlisle has a point about NBA officiating but not small-market bias
- As mental health issues plague Asian American communities, some fight silence around issue
- U.S. announces new rule to empower asylum officials to reject more migrants earlier in process
- What to know about Tuesday’s US House primaries to replace Matt Gaetz and Mike Waltz
- Argentina's chainsaw 'anarcho-capitalist' leader Javier Milei defies inflation doubters
Ranking
- Highlights from Trump’s interview with Time magazine
- Burger King is offering free Whoppers through a buy one, get one deal for Mother's Day
- Cicadas will soon become a massive, dead and stinky mess. There's a silver lining.
- Oklahoma death row inmate who killed a bank guard is incompetent for execution, judge says
- Paige Bueckers vs. Hannah Hidalgo highlights women's basketball games to watch
- KTLA Reporter Sam Rubin Dead at 64
- Luka Doncic bounces back, helps Mavericks hand Thunder first loss of NBA playoffs
- How to watch (and stream) the Eurovision Song Contest final
Recommendation
NHL in ASL returns, delivering American Sign Language analysis for Deaf community at Winter Classic
It’s not a matter of if a hurricane will hit Florida, but when, forecasters say
Argentina's chainsaw 'anarcho-capitalist' leader Javier Milei defies inflation doubters
Cushion or drain? Minimum-wage hike for food delivery drivers may get cut after debate in Seattle
What do we know about the mysterious drones reported flying over New Jersey?
Think spaving — or spending to save — can save you money? Think again.
Justin Bieber and Hailey Bieber are expecting a baby, renew their vows
Cushion or drain? Minimum-wage hike for food delivery drivers may get cut after debate in Seattle