Current:Home > FinanceMacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits -Wealth Empowerment Zone
MacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits
View
Date:2025-04-14 08:44:46
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! (86277)
Related
- Your Wedding Guests Will Thank You if You Get Married at These All-Inclusive Resorts
- The Daily Money: Relief for Kia, Hyundai theft victims
- Who killed Buttercup? After mini horse found shot 'between her eyes', investigation launched
- Alabama legislature approves bills to protect IVF after state Supreme Court ruling
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- D.C. officer attacked on Jan. 6 sounds alarm on political extremism ahead of 2024 election
- Florida girl still missing after mother's boyfriend arrested for disturbing images
- Former Bengals, Buccaneers RB Giovani Bernard announces death of newborn son
- Person accused of accosting Rep. Nancy Mace at Capitol pleads not guilty to assault charge
- Oprah Winfrey says she's stepping down from WeightWatchers. Its shares are cratering.
Ranking
- Audit: California risked millions in homelessness funds due to poor anti-fraud protections
- Storytelling as a tool for change: How Marielena Vega found her voice through farmworker advocacy
- Life of drummer Jim Gordon, who played on 'Layla' before he killed his mother, examined in new book
- Seven sports wagering operators are licensed in North Carolina to take bets starting March 11
- Big Lots store closures could exceed 300 nationwide, discount chain reveals in filing
- I Tried 63 Highlighters Looking for a Natural Glow— Here Are the 9 Best Glitter-Free Highlighters
- The Masked Singer Introduces This British Musician as New Panelist in First Look at Season 11
- Hatch watch is underway at a California bald eagle nest monitored by a popular online camera feed
Recommendation
'Meet me at the gate': Watch as widow scatters husband's ashes, BASE jumps into canyon
Dwayne Johnson now owns IP rights to 'The Rock' name and several taglines. See full list
Hatch watch is underway at a California bald eagle nest monitored by a popular online camera feed
Michigan cop’s mistake leads to $320,000 deal with Japanese man wrongly accused of drunken driving
USA men's volleyball mourns chance at gold after losing 5-set thriller, will go for bronze
Vanderpump Rules' Raquel Leviss Sues Tom Sandoval and Ariana Madix for Revenge Porn
Authorities capture car theft suspect who fled police outside Philadelphia hospital
Run To Lululemon and Shop Their Latest We Made Too Much Drop With $29 Tanks and More