Current:Home > ContactRekubit-MacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits -Zenith Investment School
Rekubit-MacKenzie Scott, billionaire philanthropist and Amazon co-founder, donates $640 million to hundreds of nonprofits
Chainkeen View
Date:2025-04-09 18:41:27
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! (448)
Related
- Rylee Arnold Shares a Long
- John Galliano out at Maison Margiela, capping year of fashion designer musical chairs
- Costco membership growth 'robust,' even amid fee increase: What to know about earnings release
- US appeals court rejects Nasdaq’s diversity rules for company boards
- B.A. Parker is learning the banjo
- Scoot flight from Singapore to Wuhan turns back after 'technical issue' detected
- Man can't find second winning lottery ticket, sues over $394 million jackpot, lawsuit says
- The 401(k) millionaires club keeps growing. We'll tell you how to join.
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- Tom Holland's New Venture Revealed
Ranking
- Retirement planning: 3 crucial moves everyone should make before 2025
- A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
- Rolling Loud 2024: Lineup, how to stream the world's largest hip hop music festival
- Opinion: Gianni Infantino, FIFA sell souls and 2034 World Cup for Saudi Arabia's billions
- Moving abroad can be expensive: These 5 countries will 'pay' you to move there
- Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
- Will the 'Yellowstone' finale be the last episode? What we know about Season 6, spinoffs
- Person accused of accosting Rep. Nancy Mace at Capitol pleads not guilty to assault charge
Recommendation
McConnell absent from Senate on Thursday as he recovers from fall in Capitol
A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
Brianna LaPaglia Reveals The Meaning Behind Her "Chickenfry" Nickname
House passes bill to add 66 new federal judgeships, but prospects murky after Biden veto threat
Will the 'Yellowstone' finale be the last episode? What we know about Season 6, spinoffs
Selena Gomez engaged to Benny Blanco after 1 year together: 'Forever begins now'
Selena Gomez engaged to Benny Blanco after 1 year together: 'Forever begins now'
Selena Gomez's "Weird Uncles" Steve Martin and Martin Short React to Her Engagement