Billionaire author and philanthropist MacKenzie Scott has donated another $2 billion, bringing her total to $19.2 billion since 2019. In a blog post, she revealed that most of these grants were made to bolster economic security and opportunities.
Scott’s wealth comes from Amazon shares she received after divorcing the company’s founder, Jeff Bezos. Despite giving away half her wealth in five years, Forbes estimates her current net worth at $31.7 billion.
Researcher Gabrielle Fitzgerald praises Scott for creating a role model for philanthropists who focus on poverty issues. Scott uses an “investing” approach that involves providing grants with no strings attached to over 2,450 nonprofits.
In 2024, Scott gave repeat gifts to several organizations, including CAMFED and Undue Medical Debt. The fact that her grants are unrestricted allows nonprofits to use them as they see fit, making a significant impact across sectors.
Grantees advise not expecting additional support from Scott’s team, even after receiving initial funding. Scott has also shaken up the nonprofit sector with her “trust-based philanthropy” approach, providing big grants without conditions.
Source: https://fortune.com/2024/12/18/mackenzie-scott-19-billion-last-5-years-philanthropy-2024