Current:Home > ContactMacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits -Streamline Finance
MacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits
View
Date:2025-04-25 18:31:02
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! (238)
Related
- USA women's basketball live updates at Olympics: Start time vs Nigeria, how to watch
- Australia’s Albanese calls for free and unimpeded trade with China on his visit to Beijing
- Trump clashes with judge, defends business record in testimony at New York fraud trial
- Youngkin and NAACP spar over felony voting rights ahead of decisive Virginia elections
- Olympic women's basketball bracket: Schedule, results, Team USA's path to gold
- 5 Things podcast: How can we cultivate happiness in our lives?
- A fire at the Canadian High Commission in Nigeria has killed 2 workers repairing generators
- Backstage with the Fugees: Pras on his hip-hop legacy as he awaits sentencing in conspiracy case
- Spooky or not? Some Choa Chu Kang residents say community garden resembles cemetery
- Mexico’s Zapatista rebel movement says it is dissolving its ‘autonomous municipalities’
Ranking
- Where will Elmo go? HBO moves away from 'Sesame Street'
- Chicago Cubs hire manager Craig Counsell away from Milwaukee in surprising move
- Backstage with the Fugees: Pras on his hip-hop legacy as he awaits sentencing in conspiracy case
- What to know about Issue 1 in Ohio, the abortion access ballot measure, ahead of Election Day 2023
- Civic engagement nonprofits say democracy needs support in between big elections. Do funders agree?
- WeWork files for bankruptcy in a stunning downfall from its $47 billion heyday
- Insurer to pay nearly $5M to 3 of the 4 Alaska men whose convictions in a 1997 killing were vacated
- ACLU sues South Dakota over its vanity plate restrictions
Recommendation
Everything Simone Biles did at the Paris Olympics was amplified. She thrived in the spotlight
Shohei Ohtani among seven to get qualifying offers, 169 free agents hit the market
Prince Harry and Meghan Markle Have Not Been Invited to King Charles III's 75th Birthday
A fire at the Canadian High Commission in Nigeria has killed 2 workers repairing generators
Behind on your annual reading goal? Books under 200 pages to read before 2024 ends
Iowa to pay $10 million to siblings of adopted teen girl who died of starvation in 2017
Teachers in Portland, Oregon, strike for a 4th day amid impasse with school district
EU envoy in surprise visit to Kosovo to push for further steps in normalization talks with Serbia