Current:Home > InvestMacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits -WealthRoots Academy
MacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits
View
Date:2025-04-13 08:20:10
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! (512)
Related
- Why Sean "Diddy" Combs Is Being Given a Laptop in Jail Amid Witness Intimidation Fears
- What did you Google in 2023? ‘Barbie,’ Israel-Hamas war are among the year’s top internet searches
- Live updates | Israel says it’s prepared to fight for months to defeat Hamas
- Despite deflating OT loss, Rams don't hear death knell for playoff hopes
- Jamie Foxx gets stitches after a glass is thrown at him during dinner in Beverly Hills
- Kate Cox can't get abortion for now, Texas Supreme Court court says, halting judge's OK
- At COP28, Indigenous women have a message for leaders: Look at what we’re doing. And listen
- Full transcript of Face the Nation, Dec. 10, 2023
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- 'The Zone of Interest' named best film of 2023 by Los Angeles Film Critics Association
Ranking
- 'Survivor' 47 finale, part one recap: 2 players were sent home. Who's left in the game?
- Horoscopes Today, December 10, 2023
- Kate Cox can't get abortion for now, Texas Supreme Court court says, halting judge's OK
- BTS members RM and V start compulsory military service in South Korea. Band seeks to reunite in 2025
- Toyota to invest $922 million to build a new paint facility at its Kentucky complex
- The Golden Globe nominees are out. Let the awards season of Barbenheimer begin – Analysis
- Full transcript of Face the Nation, Dec. 10, 2023
- Andrea Bocelli shares voice update after last-minute Boston, Philadelphia cancellations: It rarely happens
Recommendation
2025 'Doomsday Clock': This is how close we are to self
Fire breaks out in an encampment of landless workers in Brazil’s Amazon, killing 9
Former New Jersey Senate president launches 2025 gubernatorial bid
Recognizing the signs of postpartum depression
A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
'The Zone of Interest' named best film of 2023 by Los Angeles Film Critics Association
BTS members RM and V begin mandatory military duty in South Korea as band aims for 2025 reunion
Agreeing to agree: Everyone must come to consensus at COP28 climate talks, toughening the process