She said she hoped to de-emphasize privileged voices and cede focus to others.. They divorced in mid-2019 and she received 25% of his Amazon stake. An infusion of $15 million from Scottthe largest single donation in Accions 27 year historywas immediately put to work in a Covid relief fund. Jewett joined Scott in signing the Giving Pledge, a commitment by wealthy individuals to give away a majority of their money. Dia DipasupilGetty Images MacKenzie Scott, the reclusive billionaire who has in three. We know that LGBTQ young people are powerful and resilient, and Bezos' gift will allow us to help more LGBTQ young people pursue higher education and achieve their full potential as leaders in our society.". His network of nonprofits in November 2021 received a surprise phone call from a member of Scotts team, promising grants thateventually totalled$133.5million, for the national organization and 40 of its 110 affiliates; but for the 70 other affiliates, Saldaa acknowledged, the conversation was a difficult one. They were farmers of Ealing who wanted to leave . Weve looked at the impact of these grants with the ambition to share lessons with other windfall gift recipients and to inspire other funders on how to localize, decentralize, and shift power from elite corridors of development aid to the community level. Me, Dan, a constellation of researchers and administrators and advisors we are all attempting to give away a fortune that was enabled by systems in need of change, she wrote. BEGIN THE APPLICATION PROCESS. Some things Jeff Bezos can do with his $193 billion, Meta backs new tool for removing sexual images of minors posted online, Mark Zuckerberg says Meta now has a team building AI tools and personas, Whoops! Editor's note: Updated on Feb. 22, 2022 to include a donation to National 4-H Council. As part of their split, she received 4 percent of the outstanding shares of Amazon. Ms. Scott and Mr. Bezos met when they both worked at the hedge fund D.E. Scott, who divorced from Amazon founder Jeff Bezos in 2019, made the announcement in a blog post on the website Medium. Scott also announced that she has made a recent decision to invite recipients to share details of the gift, if they desire, before she shares recipients names and that her team is in the process of designing a website that will detail the recipients. Hes stepping down as Amazon CEO later this year and says he plans to focus on other passions, including the Bezos Earth Fund, the Day 1 Fund, and The Washington Post. She noted that she had made unsolicited and unexpected gifts given with full trust and no strings attached. Such strings are a mainstay of modern philanthropy: onerous grant proposals and nerve-racking site visits, followed by reports on the variety of performance benchmarks that charities are required to meet to keep the money flowing. | Chattanooga Web Design by Strafire. Forbes takes the position that people with billions of dollars at their disposal warrant more scrutiny than average Americans because of the power that money wields. Collaborative Learning from Impact Philanthropy, $15M MacKenzie Scott grant helps vision sector out of a blind spot, As MacKenzie Scott donates $3.9B, one grantee expresses ambivalence, Global nonprofits among grantees in MacKenzie Scott's $2.7B donation, General Call for CVs Agriculture Specialist, Team Lead & Agriculture Development Specialist, Opinion: Rethinking global health funding for the good of all, Opinion: Why we all play a role in vaccine confidence, Q&A: Beyond borders and money how banks should support Ukraine, How data science can unlock development in least developed countries, Watch: Partnering to close the health equity gap, MacKenzie Scott's giving 'profoundly positive' for nonprofits: report, Devex Newswire: MacKenzie Scott and Jeff Bezos have new giving plans, Melinda French Gates-backed Co-Impact gives $161M in new grants. PAST COVERAGE: San Jacinto College anonymous donor gives free tuition to 2021 high school grads. Terms & Conditions. Long Beach City College, in California, thanked Scott for $30 million also the single largest donation in its history. And although Ms. Scott offered a list of nearly 400 organizations, she could well have given gifts to other groups. (In practical terms, shes even more impressive: Last years second-biggest donor to charity, Elon Musk, directed his $5.7 billion donation in Tesla shares to his personal foundation, reaping a tax benefit without distributing much of the money to charity, tax records show.). / Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. It also distinguished her from her former husband, the richest man in the world. MacKenzie Scott (formerly Bezos) has announced the recipients of $1.67 billion in grants awarded since she signed the Giving Pledge fourteen months ago. This can include advocacy to push a cause forward, convening peers for knowledge exchange, introducing new funders to locally based peers, and organizing to regrant to more grassroots organizations. But Scotts gifts in 2020 were unrestricted, indicating she trusted the people on the ground doing the work, and it gives lie to the idea that its hard to make billion-dollar donations. MacKenzie Scott, the former wife of Amazon founder Jeff Bezos, is shown here in 2018. To date, Scott has committed $586.7 million in support of efforts to advance racial equity; $46 million to advance LGBTQ+ equity; $133 million to advance gender equity; $399.5 million to improve economic mobility in the United States; $55 million to help build empathy and bridge divides; $72 million in support of efforts to create a "functional democracy"; $128.3 million for public health initiatives; $130 million in support of global development; and $125 million to address climate change. MacKenzie Scott has unveiled a website to provide more transparency around her philanthropic efforts. Ms. Scott made a new round of grants, to 286 organizations. Ms. Scott also gave to higher-education institutions including schools in the University of California and the University of Texas systems; organizations focused on racial justice, such as Race Forward and Borealis Philanthropy; groups focused on gender equity and combating domestic violence; and an assortment of other nonprofits including the Authors League Fund, which helps writers in financial need, and Afrika Tikkun, which works to end child poverty in South Africa. MacKenzie Scott has revolutionized philanthropy and the civil society and development sector by rapidly awarding more large grants faster than any other philanthropist: almost 1,600 grants . Many donors of large amounts have specific instructions for how they want charities to use their funds. ", MacKenzie Scott Has Donated More Than $4 Billion In Last 4 Months. On a Monday evening in November, Dorri McWhorter, the chief executive of the Y.W.C.A. MacKenzie Scott(formerly Bezos) has announced the recipients of $1.67 billion in grants awarded since she signed theGiving Pledgefourteen months ago. And, unlike much philanthropic giving to institutions of higher education, the Scott money came with no strings attached. On July 28, 2020, MacKenzie Scott shocked the philanthropic community by donating USD 1.7 billion to 116 nonprofits around the world. Though this kind of giving isnt new, Scott (and possibly Melinda French Gates) is putting a spotlight on trust-based philanthropy, which seeks to address the power imbalances between wealthy funders and nonprofits. While Scott's participation in funder collaboratives and initiatives such asBlue Meridian Partnersand theEquality Can't Wait Challengehas been noted previously, she had not announced details of her giving. But during a deep recession and an era of epic inequality, the traditional approach has fueled criticisms that foundations are more interested in preserving themselves than in helping those in desperate need. She has so far given away more than $8 billion in three rounds of funding revealed in the same manner. (Rudolphs series-finale declaration that we are the problem; billionaires shouldnt exist lands like a TV-pithy version of Scotts first essay about her donations: Theres no question in my mind that anyones personal wealth is the product of a collective effort, and of social structures which present opportunities to some people, and obstacles to countless others.). The scholarship is need based and will fund up to $2,000 per student. General operating support for organizations. All ten nonprofit leaders Forbes spoke with say the unrestricted and ultimately more trusting nature of Scotts philanthropy is the exception, not the norm in their world. Ms. Scott has moved away from the heavy hand of the philanthropy in steering the direction of social change, said Benjamin Soskis, a senior research associate in the Center on Nonprofits and Philanthropy at the Urban Institute. To subscribe, select any of the newsletters listed below. Its really critical for any philanthropist to address the inequities of how their wealth was created, she said. Ms. Scott appears attuned to the fact that her vast and growing fortune is made possible through Amazon, a company that has long faced scrutiny for its harsh working conditions and the myriad ways it has reshaped the economy, often centralizing wealth and power along the way. Money was tight. She thought she had found her lifes calling, but says there were a lack of opportunities. Her main expression of that critique is giving away so much money so quickly, and supporting so many bottom-up organizations, Mr. Callahan said. Though her net worth now exceeds the value of the endowment of the Bill and Melinda Gates Foundation, the largest charity in the world, Ms. Scott has shown no interest in developing that kind of formal structure around her giving. Less than two months into 2022, Scott isn't showing any signs of . If you are looking for a way to serve humanitys common cause, every one of them is a great candidate. As you probably know, DAFs are not public entities so there's no application process, unless the donor decides to make the process public, which Ms. Scott has not chosen to do. However long it takes to become reality, the promised application process marks an intriguing strategy shift for Scottand an apparent response to some of the criticisms she has faced. She doesnt appear to have an office or even a mailing address for her philanthropy, instead working through nonprofit firm Bridgespan. 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