Current:Home > InvestMacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits -ProsperityStream Academy
MacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits
View
Date:2025-04-14 03:11:33
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! (7)
Related
- NCAA hands former Michigan coach Jim Harbaugh a 4-year show cause order for recruiting violations
- Musk threatens to sue researchers who documented the rise in hateful tweets
- Appellate court rules that Missouri man with schizophrenia can be executed after all
- SUV hits 6 migrant workers in N.C. Walmart parking lot, apparently on purpose, then flees, police say
- IOC's decision to separate speed climbing from other disciplines paying off
- Extreme Rain From Atmospheric Rivers and Ice-Heating Micro-Cracks Are Ominous New Threats to the Greenland Ice Sheet
- US needs win to ensure Americans avoid elimination in group play for first time in Women’s World Cup
- Brazil denies U.S. extradition request for alleged Russian spy Sergey Cherkasov
- Paris Olympics live updates: Quincy Hall wins 400m thriller; USA women's hoops in action
- What are the healthiest beans? Check out these nutrient-dense options to boost your diet.
Ranking
- Blake Lively’s Inner Circle Shares Rare Insight on Her Life as a Mom to 4 Kids
- Author Iyanla Vanzant Mourns Death of Youngest Daughter
- 6-year-old girl dead after being struck by family's boat at lake
- Pro-Trump PAC spent over $40 million on legal bills for Trump and aides in 2023
- Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
- Mar-a-Lago property manager to be arraigned in classified documents probe
- Mar-a-Lago worker charged in Trump’s classified documents case to make first court appearance
- Fans pay tribute to Coco Lee, Hong Kong singer who had international success
Recommendation
Selena Gomez engaged to Benny Blanco after 1 year together: 'Forever begins now'
South Korean dog meat farmers push back against growing moves to outlaw their industry
Sweden leader says clear risk of retaliatory terror attacks as Iran issues threats over Quran desecration
What are the healthiest beans? Check out these nutrient-dense options to boost your diet.
Civic engagement nonprofits say democracy needs support in between big elections. Do funders agree?
Twitter, now called X, reinstates Kanye West's account
3 dead after small plane crashes into hangar at Southern California airport
Damar Hamlin puts aside fear and practices in pads for the first time since cardiac arrest