MacKenzie Scott donates $2.7 billion, criticizes wealth gap

MacKenzie Scott, the billionaire philanthropist previously married to Amazon founder Jeff Bezos, is donating one other $2.74 billion to charities, she mentioned in a blog post Tuesday.

The beneficiaries span 286 organizations, together with universities, dance theaters, refugee resettlement teams, and a various assortment of funds devoted to racial fairness in arts, journalism, and philanthropy.

Scott, whose marriage to Bezos lasted 25 years, obtained 4% of Amazon’s inventory as a part of their divorce settlement in 2019, with the holdings valued at round $36 billion again then. Within the years since, she has turn out to be some of the necessary philanthropists on the earth, kicking off a blistering tempo of giving with a primary spherical of donations in July 2020. That yr, she distributed practically $6 billion to 500 completely different organizations, most of them targeted on points like racial and gender fairness, financial mobility, and public well being.

This newest spherical brings Scott’s complete donations to almost $9 billion. But regardless of the huge quantities of giving, Scott’s wealth has truly multiplied over the previous years, particularly as Amazon’s inventory worth skyrocketed throughout the COVID-19 pandemic. Based on Forbes, her web price is at the moment estimated at $60 billion.

In her weblog publish, Scott reiterated her dedication to donating the lion’s share of her fortune—pledging in 2019 to offer “till the secure was empty”—and took intention on the wealth gap in the US, a disparity that has been illuminated throughout the pandemic.

“On this effort, we’re ruled by a humbling perception that it could be higher if disproportionate wealth weren’t concentrated in a small variety of fingers,” she writes. “The options are greatest designed and applied by others.”

Along with the hefty sums she has given, Scott is also noteworthy for choosing smaller, extra area of interest organizations typically neglected by main donors and providing items freed from strings.

In a world dominated by a handful of ultra-rich male cash moguls, Scott stands out, notably as her philanthropic counterparts Invoice Gates and Warren Buffett have spoken of lofty objectives in charity, however failed to offer at speeds that sustain with their dizzying accrual of wealth.