Current:Home > FinanceMacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits -Clarity Finance Guides
MacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits
View
Date:2025-04-12 06:19:20
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! (56)
Related
- How to watch new prequel series 'Dexter: Original Sin': Premiere date, cast, streaming
- Dax Shepard Is Drawing This Line for His Daughters' Sex Lives in the Future
- As Tropical Storm Hilary shrinks, desert and mountain towns dig themselves out of the mud
- Summer House Star Paige DeSorbo Shares Her Top 20 Beauty Products
- Trump's 'stop
- The 50 best superhero movies ever, ranked (from 'Blue Beetle' to 'Superman')
- Lightning starts new wildfires but moist air aids crews battling blazes in rural Northern California
- Virginia man wins largest online instant lottery game in US history
- Mets have visions of grandeur, and a dynasty, with Juan Soto as major catalyst
- You'll Buzz Over Blake Lively's Latest Photo of Sexy Ryan Reynolds
Ranking
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Only one new car in the U.S. now sells for under $20,000
- What are peptides? Understand why some people take them.
- Stock market today: Asian stocks follow Wall Street higher ahead of Federal Reserve conference
- Jamie Foxx reps say actor was hit in face by a glass at birthday dinner, needed stitches
- Southern California braces for more floods as tropical storm soaks region from coast to desert
- Summer House Star Paige DeSorbo Shares Her Top 20 Beauty Products
- USMNT star Christian Pulisic scores sensational goal in AC Milan debut
Recommendation
Working Well: When holidays present rude customers, taking breaks and the high road preserve peace
Shooting on Minneapolis street injures eight people
Virginia judge largely sides with ex-patients in hospital’s effort to pare down lawsuit abuse claims
Ecuadorians reject oil drilling in the Amazon in historic decision
Federal hiring is about to get the Trump treatment
Children's pony rides banned in Paris following animal rights campaign
Amazon Shoppers Swear This $8 Spray Is the Secret to Long, Damage-Free Hair
A list of the 5 new vehicles with the lowest average purchase prices in the US