Current:Home > MyMacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits -NextWave Wealth Hub
MacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits
View
Date:2025-04-11 22:56:57
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! (2)
Related
- 'Survivor' 47 finale, part one recap: 2 players were sent home. Who's left in the game?
- 'Capote vs The Swans' review: FX's new season of 'Feud' is deathly cold-blooded
- Chiefs vs. 49ers 2024: Vegas odds for spread, moneyline, over/under
- What's next for Greg Olsen with Tom Brady in line to take No. 1 spot on FOX?
- What to watch: O Jolie night
- Below Deck's Ben Willoughby Reveals the Real Reason for Camille Lamb Breakup
- Tennessee police fatally shoot man who pointed gun, fired at officers, authorities say
- Grammy Awards host Trevor Noah on why to tune in, being nominated and his post ‘Daily Show’ life
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- Adam Sandler to Receive the People's Icon Award at 2024 People's Choice Awards
Ranking
- Brianna LaPaglia Reveals The Meaning Behind Her "Chickenfry" Nickname
- Dua Lipa and Callum Turner's PDA-Filled Daytime Outing May Just Blow Your Mind
- Broadway Star Hinton Battle Dead at 67
- Below Deck's Ben Willoughby Reveals the Real Reason for Camille Lamb Breakup
- Appeals court scraps Nasdaq boardroom diversity rules in latest DEI setback
- Whether You're Rooting for the Chiefs or the 49ers, These Red Lipsticks Are Kiss-Proof
- AP Decision Notes: What to expect in South Carolina’s Democratic presidential primary
- Alaska governor pitches teacher bonuses as debate over education funding dominates session
Recommendation
Don't let hackers fool you with a 'scam
How to transform a war economy for peacetime
Dua Lipa and Callum Turner's PDA-Filled Daytime Outing May Just Blow Your Mind
After Alabama execution, Ohio Republicans push to allow nitrogen gas for death penalty
Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
Tennessee police fatally shoot man who pointed gun, fired at officers, authorities say
Accused killer of Run-DMC's Jam Master Jay can't have his lyrics used against him, judge rules
Tennessee police fatally shoot man who pointed gun, fired at officers, authorities say