Current:Home > MarketsMacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits -MoneyStream
MacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits
View
Date:2025-04-15 12:45:36
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! (4649)
Related
- Illinois governor calls for resignation of sheriff whose deputy fatally shot Black woman in her home
- The Excerpt podcast: Rosalynn Carter dies at 96, sticking points in hostage negotiations
- Old video games are new again on Atari 2600+ retro-gaming console
- Slain New Hampshire security guard honored at candlelight vigil
- Connie Chiume, South African 'Black Panther' actress, dies at 72
- Fantasy football buy low, sell high Week 12: 10 players to trade this week
- Biden celebrates his 81st birthday with jokes as the White House stresses his experience and stamina
- US Navy plane overshoots runway and goes into a bay in Hawaii, military says
- Daughter of Utah death row inmate navigates complicated dance of grief and healing before execution
- Video shows elk charge at Colorado couple: 'Felt like we were in an Indiana Jones film'
Ranking
- Costco membership growth 'robust,' even amid fee increase: What to know about earnings release
- Biden pardons turkeys Liberty and Bell in annual Thanksgiving ceremony
- Man facing murder charges in disappearance of missing Washington state couple
- New York City’s ban on police chokeholds, diaphragm compression upheld by state’s high court
- Your Wedding Guests Will Thank You if You Get Married at These All-Inclusive Resorts
- Below Deck Mediterranean Shocker: Stew Natalya Scudder Exits Season 8 Early
- Cara Delevingne Says BFF Taylor Swift’s Relationship With Travis Kelce Is Very Different
- With patriotic reggaeton and videos, Venezuela’s government fans territorial dispute with Guyana
Recommendation
Small twin
49ers lose All-Pro safety Talanoa Hufanga for season due to torn ACL
With patriotic reggaeton and videos, Venezuela’s government fans territorial dispute with Guyana
'Napoleon' movie review: Joaquin Phoenix leads the charge in Ridley Scott's erratic epic
Paris Hilton, Nicole Richie return for an 'Encore,' reminisce about 'The Simple Life'
Julianna Margulies: My non-Jewish friends, your silence on antisemitism is loud
Appeals court to consider Trump's bid to pause gag order in special counsel's election interference case
Where is Thanksgiving most expensive? Residents in these US cities expect to pay more