Just months after announcing she had given away $1.7 billion in July; Mackenzie Scott says she’s donated another $4.2 billion.
Scott says she has given away $4.2 billion within four months. The billionaire mom, novelist, and philanthropist announced the latest contributions in a blog post Tuesday, saying she asked her team to figure out how to give away from her fortune faster.
Scott’s wealth has climbed $23.6 billion this year to $60.7 billion, according to the Bloomberg Billionaires Index, as Amazon.com Inc., the primary source of her fortune, has surged making her the 18th-richest person in the world.
“The result over the last four months has been $4,158,500,000 in gifts to 384 organizations across all 50 states, Puerto Rico, and Washington D.C.,” Scott wrote in Medium. “This pandemic has been a wrecking ball in the lives of Americans already struggling. Economic losses and health outcomes alike have been worse for women, for people of color, and people living in poverty.” ⠀
Scott divorced Amazon.com Inc.’s Jeff Bezos in a settlement that pushed her the Billionaire ladder following her divorce from the Amazon founder last year. She noted in the post that during this year the wealth of billionaires has increased substantially. ⠀
Scott’s $60.7 billion fortune derives from a 4% stake in Amazon, which she received as part of her divorce. Her wealth has risen $23.6 billion this year, according to the Bloomberg Billionaires Index.
She did not however reveal all the more than 100 charitable organizations that have been recipients of her gift but in the lengthy blog post expressed concern by the events of this year but had worked with a group of advisers to support non-profits linked to human rights, environmental and social causes. The move comes after she signed the Giving Pledge, a public promise among the world’s richest people to donate at least half of their wealth throughout their lifetimes.
She wrote: “There’s no question in my mind that anyone’s personal wealth is the product of a collective effort, and of social structures which present opportunities to some people and obstacles to countless others,
“Like many, I watched the first half of 2020 with a mixture of heartbreak and horror. Life will never stop finding fresh ways to expose inequities in our systems.”
Scott donations are more than $586 million to racial equity initiatives, $46 million to LGBTQ groups, $133 million to gender equity causes, and $125 million to climate change efforts. Her list of beneficiaries includes major non-profits including Lambda Legal, The Nature Conservancy, and the National Urban League, as well as Seattle-based charities and the United Way of King County.
“I recommend these organizations to anyone similarly excited by the idea of empowering leaders well-positioned to accelerate progress,”
“Every one of them is tackling complex challenges that will require sustained effort over many years, while simultaneously addressing consequences of the COVID-19 pandemic.” Scott wrote.
All of the donations were unrestricted unless groups asked otherwise, Scott noted, to provide organizations with “maximum flexibility.”
One of the beneficiaries of Scott’s giving revealed to The Seattle Times that Scott’s approach was surreal.
“The fact that it is unrestricted really speaks to [Scott’s] trust in us to really promote racial equity and justice. It empowers us to do what is right for our community.” Said Angelique Albert, executive director of the American Indian Graduate Center.