Current:Home > NewsMacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits -TradeGrid
MacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits
NovaQuant Quantitative Think Tank Center View
Date:2025-04-10 08:18:52
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! (7)
Related
- Alex Murdaugh’s murder appeal cites biased clerk and prejudicial evidence
- Construction of a cable to connect the power grids of Greece and Cyprus is set to start next year
- Lithium at California's Salton Sea could power millions of electric vehicles: Report
- It was a great year for music. Here are our top songs including Olivia Rodrigo and the Beatles
- What do we know about the mysterious drones reported flying over New Jersey?
- Biden Administration announces first-ever Ocean Justice Strategy. What's that?
- NTSB holds forum on pilots' mental health, chair says the existing rules are arcane
- Who Is Benny Blanco? Everything to Know About Selena Gomez's Rumored Boyfriend
- Former longtime South Carolina congressman John Spratt dies at 82
- Crowds line Dublin streets for funeral procession of The Pogues singer Shane MacGowan
Ranking
- North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference
- Texas judge allows abortion for woman whose fetus has fatal disorder trisomy 18
- Copa América draw: USMNT shares group with Uruguay, Panama
- National Board of Review, AFI announce best movies of 2023 honorees including 'Killers of the Flower Moon'
- Federal appeals court upholds $14.25 million fine against Exxon for pollution in Texas
- Woman who threw food at Chipotle worker sentenced to work in fast food for 2 months
- McDonald's plans to open roughly 10,000 new locations, with 50,000 worldwide by 2027
- Deployed soldier sends messages of son's favorite stuffed dinosaur traveling world
Recommendation
'Vanderpump Rules' star DJ James Kennedy arrested on domestic violence charges
Adele delivers raunchy, inspiring speech at THR gala: 'The boss at home, the boss at work'
Amazon’s plans to advance its interests in California laid bare in leaked memo
NBA In-Season Tournament semifinals: matchups, how to watch, odds, predictions
Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
Why Prince Harry Says He and Meghan Markle Can't Keep Their Kids Safe in the U.K.
Illinois woman gets 55 years after pleading guilty but mentally ill in deaths of boyfriend’s parents
QVC’s Gift-a-Thon Sale Has the Season’s Lowest Prices on Peter Thomas Roth, Dyson, Tarte, Bose & More