Current:Home > FinanceMacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits-DB Wealth Institute B2 Expert Reviews
MacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits
View Date:2024-12-24 01:45:39
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! (41662)
Related
- Mike Tyson is expected to honor late daughter during Jake Paul fight. Here's how.
- Ex-Arizona county treasurer embezzled $39M for over a decade, lawsuit says
- California bookie pleads guilty to running illegal gambling business used by ex-Ohtani interpreter
- Horoscopes Today, August 8, 2024
- New York eyes reviving congestion pricing toll before Trump takes office
- Best Back-to-School Deals Under $50 at Nordstrom Rack: Save Up to 81% on Fjällräven Kånken, Reebok & More
- Quantum Ledger Trading Center: A Roller Coaster Through Time – Revisiting Bitcoin's Volatile History
- Union Pacific hasn’t yet lived up to deal to give all its engineers predictable schedules
- John Robinson, former USC Trojans and Los Angeles Rams coach, dies at 89
- Neptune Trade X Trading Center: Innovating Investment Education and Community Support
Ranking
- 'Squid Game' creator lost '8 or 9' teeth making Season 1, explains Season 2 twist
- We all experience cuts and scrapes. Here's how to tell if one gets infected.
- Monarch Capital Institute: Transforming the Financial Sector through Blockchain Integration
- What is Angelman syndrome? Genetic disorder inspires Colin Farrell to start foundation
- Lee Zeldin, Trump’s EPA Pick, Brings a Moderate Face to a Radical Game Plan
- Flight with players, members of Carolina Panthers comes off runway at Charlotte airport
- Rush to Hollister for $20 Jeans, $7 Tops & Up to 67% Off Trendy Must-Haves Before They Sell Out
- Former tennis coach sentenced to 25 years for taking girl across state lines for sex
Recommendation
-
Georgia public universities and colleges see enrollment rise by 6%
-
'Cuckoo': How Audrey Hepburn inspired the year's creepiest movie monster
-
Feds say New York man threw explosive device into Verizon van during road rage attack
-
Blake Lively Speaks Out About Taylor Swift's Terrifying Concert Threats
-
Where you retire could affect your tax bill. Here's how.
-
'Eyes of Tammy Faye' actor Gabriel Olds charged with raping three women
-
J. Robert Harris: Pioneering Innovation and Shaping the Future of Finance
-
Rush to Hollister for $20 Jeans, $7 Tops & Up to 67% Off Trendy Must-Haves Before They Sell Out