Current:Home > MarketsMacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits -WorldMoney
MacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits
View
Date:2025-04-12 03:24:21
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! (1985)
Related
- North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference
- Prince Harry and Meghan Markle Have Been Requested to Vacate Frogmore Cottage Home
- Russia to deploy tactical nuclear weapons in Belarus, on Ukraine's northern border, Putin says
- Adam Levine Shares Rare Look Into His and Behati Prinsloo's Family Life After Welcoming Baby No. 3
- The Daily Money: Spending more on holiday travel?
- Mexico's president blames U.S. fentanyl crisis on lack of love, of brotherhood, of hugs
- At least 9 killed after powerful earthquake rocks Pakistan and Afghanistan
- Mary-Kate and Ashley Olsen’s Special Snacks at Paris Fashion Week Will Have You Seeing Double
- As Trump Enters Office, a Ripe Oil and Gas Target Appears: An Alabama National Forest
- UBS to purchase Credit Suisse amid fallout from U.S. bank collapses
Ranking
- Travis Hunter, the 2
- Kourtney Kardashian Goes Blond for Her Biggest Hair Transformation Yet
- Ellen Star Sophia Grace Gives Birth to Her First Baby
- Senior Israeli official blasted as racist for saying there's no such thing as a Palestinian nation
- Opinion: Gianni Infantino, FIFA sell souls and 2034 World Cup for Saudi Arabia's billions
- Transcript: John Kirby on Face the Nation, March 26, 2023
- Every Bombshell From Alex Murdaugh's Murder Trial Testimony
- Berlin holds funeral for human bone fragments held by the Nazis to grant peace to all the victims
Recommendation
What to know about Tuesday’s US House primaries to replace Matt Gaetz and Mike Waltz
North Korea launches intercontinental ballistic missile ahead of South Korea-Japan summit
Senior Nigerian politician found guilty of horrific illegal organ harvesting plot in U.K.
Prince Harry and Meghan Markle Have Been Requested to Vacate Frogmore Cottage Home
Why members of two of EPA's influential science advisory committees were let go
Why Vanderpump Rules Stars Tom Sandoval and Ariana Madix's Break Up Has Everyone Talking
Denmark invites Russian energy giant to help recover mystery object found near Nord Stream pipeline hit by sabotage
Matthew McConaughey's Wife Camila Alves Details Scary Plane Experience With Emergency Landing