KEY INSIGHTS:
- Over the past seven months, the philanthropist gave $1.9 billion to 343 organizations.
- Since 2020, Scott has donated $14.4 billion to more than a thousand groups around the world.
- Also on Monday, Scott’s ex-husband Jeff Bezos announced he planned to give away the majority of his $124 billion net worth during his lifetime.
MacKenzie Scott is at it again. The philanthropist announced Monday that she gave away another $2 billion of her fortune over the past seven months.
The latest recipients of her philanthropy include 343 school districts, youth-focused organizations, and groups that serve Black and brown communities and people with disabilities. Of the publicly announced gifts, Big Brothers Big Sisters of America, the National Urban League, Junior Achievement, Girl Scouts of the USA and Friends of the Children received eight and nine-figure donations.
For the National Urban League, the more than $100 million given to 25 of its affiliates will allow them to expand their work to increase economic and educational empowerment for historically underserved communities, the historic civil rights organization said in a release. The group runs programs ranging from homeownership classes to small business training to STEM education.
“On behalf of the entire Urban League network, we are honored and grateful by Ms. Scott’s extraordinary generosity and faith in our movement,” Marc Morial, the group’s president and CEO, said in a statement. “As the nation’s economic first responders, Urban League affiliates are the most effective and impactful engines of empowerment for eliminating racial gaps in our economic and justice systems.”
In the past seven months, Scott also gave an undisclosed amount to Complete College America, a non-profit that aims to increase higher education completion rates and has worked with Historically Black Community Colleges. In March, the group announced a $1.5 million initiative to support a network of 22 Black community colleges aimed at improving their programs in order to grow career and economic outcomes for students.
This is not the first time Scott’s gifts have gone to institutions supporting Black student outcomes. Since 2020, Scott has donated $14.4 billion to more than a thousand organizations around the world, according to a tally by The Plug, as part of her 2019 pledge to give away the majority of her wealth. In 2020 she gave $560 million to 23 HBCUs, which for many of the schools was their largest donation ever.
“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,” Scott wrote in July 2020 when announcing the first tranche of donations she made.
Scott’s philanthropy is transformative not only because of the large amounts she gives away, but also the fact that all the gifts come with no strings attached; organizations are free to use the money however they think is best. Her gifts also bring a rash of attention and name recognition to groups that can help them raise more money.
But despite this massive giving, Scott’s wealth is still staggering. As of November 14, her net worth was $29.2 billion, Forbes estimates. The source of her wealth comes from Amazon, which she was pivotal in helping her ex-husband Jeff Bezos start early in their marriage. On Monday, Bezos told CNN he planned to give away the majority of his $124 billion net worth during his lifetime, though he did not give specifics of how or when he would donate the money.
