MacKenzie Scott introduced Wednesday in a blog post that she has donated $2 billion this 12 months to 199 organizations. The 54-year-old billionaire philanthropist has now given away a complete of $19.2 billion since 2019, per AP.
About 75% of the organizations that Scott has donated to this 12 months are nonprofits targeted on financial safety and alternative. They concentrate on causes like reasonably priced housing, healthcare, jobs, and loans.
For instance, final month, Scott donated $65 million to Enterprise Neighborhood Companions, a nonprofit that tackles the reasonably priced housing scarcity in america. It was the second reward Scott gave the group; the primary was $50 million in 2020.
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The remaining organizations concentrate on different causes associated to human well-being, corresponding to pure useful resource conservation and human rights.
MacKenzie Scott. Photograph by Jerod Harris/Getty Photographs
Scott has taken a “trust-based” philanthropic method, giving giant sums of cash over the previous 5 years with no circumstances hooked up to greater than 2,500 organizations and detailed how her method to giving differs from the remainder.
What Does MacKenzie Scott Search for When Donating?
Scott has requested her funding crew to search out corporations targeted on for-profit options to the identical points that nonprofits sort out.
As an alternative of transferring funds from a private checking account or inventory portfolio, Scott wish to supply her donations from a portfolio of investments she has made in ventures with the identical mission because the nonprofit that can obtain the reward.
This manner the cash has a two-fold function: first by “unlocking… innovation” within the personal sector and second by “creating worth” in nonprofits, Scott wrote in a blog post launched Wednesday.
“I am impressed by all of the methods folks put money into one another,” she wrote.
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Most of Scott’s wealth comes from the shares in Amazon she obtained after divorcing Amazon founder Jeff Bezos in 2019.
She bought more than 45 million shares of Amazon inventory valued at almost $8.4 billion final month earlier than making a $65 million donation to Native Initiatives Assist Corp, a neighborhood assist group.
Scott is price round $40.3 billion and is the thirty ninth richest individual on the planet, in keeping with the Bloomberg Billionaires Index.
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