Current:Home > FinanceMacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits -OceanicInvest
MacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits
View
Date:2025-04-17 01:12:20
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! (66)
Related
- Don't let hackers fool you with a 'scam
- Death penalty: Alabama couple murdered in 2004 were married 55 years before tragic end
- Maradona’s heirs lose court battle to block auction of World Cup Golden Ball trophy
- Dance Moms' Kelly Hyland Shares Signs That Led Her to Get Checked for Breast Cancer
- Current, future North Carolina governor’s challenge of power
- Nigeria’s new anthem, written by a Briton, sparks criticism after a contentious law is passed
- Families reclaim the remains of 15 recently identified Greek soldiers killed in Cyprus in 1974
- Hungary’s foreign minister visits Belarus despite EU sanctions, talks about expanding ties
- New Zealand official reverses visa refusal for US conservative influencer Candace Owens
- Iran says Saudi Arabia has expelled 6 state media journalists ahead of the Hajj after detaining them
Ranking
- What to know about Tuesday’s US House primaries to replace Matt Gaetz and Mike Waltz
- The love in Bill Walton's voice when speaking about his four sons was unforgettable
- China to impose controls on exports of aviation and aerospace equipment
- US Treasury official visits Ukraine to discuss sanctions on Moscow and seizing Russian assets
- Trump's 'stop
- A group of armed men burns a girls’ school in northwest Pakistan, in third such attack this month
- Sweden seeks to answer worried students’ questions about NATO and war after its neutrality ends
- Former TikToker Ali Abulaban Found Guilty in 2021 Murders of His Wife and Her Friend
Recommendation
US appeals court rejects Nasdaq’s diversity rules for company boards
‘Pure grit.’ Jordan Chiles is making a run at a second Olympics, this time on her terms
Truckers suing to block New York’s congestion fee for Manhattan drivers
Police dismantle pro-Palestinian camp at Wayne State University in Detroit
See you latte: Starbucks plans to cut 30% of its menu
Biden to make his first state visit to France after attending D-Day 80th commemorations next week
Porsche unveils latest hybrid, the 911 Carrera GTS: What sets it apart?
Plaza dedicated at the site where Sojourner Truth gave her 1851 ‘Ain’t I a Woman?’ speech