Current:Home > MyMacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits -TradeGrid
MacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits
View
Date:2025-04-17 11:26:16
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! (2933)
Related
- What to know about Tuesday’s US House primaries to replace Matt Gaetz and Mike Waltz
- Kim Dotcom loses 12-year fight to halt deportation from New Zealand to face US copyright case
- Jack Russell, former Great White frontman, dies at 63
- Ed Sheeran joins Taylor Swift onstage in Wembley for epic triple mashup
- Residents worried after ceiling cracks appear following reroofing works at Jalan Tenaga HDB blocks
- Watchdogs want US to address extreme plutonium contamination in Los Alamos’ Acid Canyon
- Shine Bright With Blue Nile’s 25th Anniversary Sale— Best Savings of the Year on the Most Popular Styles
- Katy Perry to receive Video Vanguard Award and perform live at 2024 MTV VMAs
- Sarah J. Maas books explained: How to read 'ACOTAR,' 'Throne of Glass' in order.
- Rail bridge collapses on US-Canada border
Ranking
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- Who Is Jana Duggar’s Husband Stephen Wissmann? Everything to Know About the Business Owner
- TikTok compares itself to foreign-owned American news outlets as it fights forced sale or ban
- Federal subpoenas issued in probe of New York Mayor Eric Adams’ 2021 campaign
- The FTC says 'gamified' online job scams by WhatsApp and text on the rise. What to know.
- 'Ketamine Queen,' doctors, director: A look at the 5 charged in Matthew Perry's death
- NBA schedule 2024-25: Christmas Day games include Lakers-Warriors and 76ers-Celtics
- TikTok compares itself to foreign-owned American news outlets as it fights forced sale or ban
Recommendation
Could Bill Belichick, Robert Kraft reunite? Maybe in Pro Football Hall of Fame's 2026 class
Eugene Levy, Dan Levy set to co-host Primetime Emmy Awards as first father-son duo
Want a collector cup from McDonald’s adult Happy Meal? Sets are selling online for $125.
How Lubbock artists pushed back after the city ended funding for its popular art walk
Dick Vitale announces he is cancer free: 'Santa Claus came early'
AP Week in Pictures: Global
Try these 3 trends to boost your odds of picking Mega Millions winning numbers
Texas couple charged with failing to seek medical care for injured 12-year-old who later died