MacKenzie Scott donates $640m to US non-profits

MacKenzie Scott donates $640m to US non-profits
MacKenzie Scott donates $640m to US non-profits

We show you our most important and recent visitors news details MacKenzie Scott donates $640m to US non-profits in the following article

Hind Al Soulia - Riyadh - NEW YORK — Billionaire philanthropist MacKenzie Scott is giving $640m (£504m) to non-profit organizations, more than double her previously planned donations for the year.

Scott announced this week she would give the money to 361 small groups, out of the more than 6,000 organizations that applied for funding.

She had initially planned to make 250 awards of $1m each this year.

She has given away $16.5bn since her 2019 divorce from Amazon's Jeff Bezos.

Scott has a net worth of $37.5bn, according to Forbes, which rates her as the fourth richest woman in the world, and has pledged to give away half of her wealth over the course of her life.

Most of the money comes from a 4% stake in Amazon that was included in her divorce settlement from Bezos, the company founder.

Some of the recipients include the American Civil Liberties Union (ACLU) of Alabama, Justice for Migrant Women, the Sacramento LGBT Community Center and Mental Health Advocacy Services.

Scott posted on social media that the money had been given to groups "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".

This year, Scott broke with her past approach of finding organizations and then contacting them secretly to offer massive, unrestricted gifts.

After a panel reviewed all of the applications, she gave 279 non-profits $2m a piece, while 82 groups were given $1m each.

The "incredible work" of many applicants led the team overseeing the donations to increase the number and amount of awards, according to Lever for Change, the group managing the applications. — BBC


These were the details of the news MacKenzie Scott donates $640m to US non-profits for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Saudi Gazette and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Barrage of Russian attacks aims to cut Ukraine's lights

Author Information

I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community. Address: 2077 Sharon Lane Mishawaka, IN 46544, USA Phone: (+1) 574-255-1083 Email: [email protected]