MacKenzie Scott announced Wednesday, Dec. 18, another $2 billion in donations to various nonprofits. Over the past five years, the philanthropist has given part of her wealth to “mission-aligned ventures” that create economic opportunity.
Since 2019, Scott has donated $19.2 billion to close to 2,500 nonprofits with the support of her advisers. The author published a blog post detailing her giving on her website, Yield Giving.
“I’ve asked the investment team helping me manage the assets I’m working to give away to source funds and companies focused on for-profit solutions to these challenges,” Scott wrote.
She said her advisers help manage her assets and create a fund for companies to pull directly from. Her website says it was established with the idea of “adding value by giving up control.”
Scott has created a trust-based system with unrestricted grants. It allows recipients to spend the funding however necessary to further their organization’s mission.
While Scott has signaled her support for a wide array of groups –– from affordable housing to educational support for girls in Africa –– experts said the billionaire is starting to focus more on issues surrounding poverty.
Even with her significant giving, Forbes estimates Scott’s wealth to be more than $30 billion.
Scott’s wealth partially stems from her divorce from Amazon founder Jeff Bezos and the shares in the company that she received following the separation.
