Mackenzie Scott, aptly called a megadonor, is the generous ex-wife of centibillionaire Jeff Bezos. In the last year, she sold 65 million Amazon shares worth over $10 billion. This wasn’t to buy mansions and superyachts but rather for her unprecedented philanthropy. After her divorce, Scott ended up with roughly 4% of the tech giant Amazon, making her stake worth around $37 billion. Interestingly, since her high-profile split, Scott has donated more than $16.5 billion to a wide range of charities. She now owns about 1.9% of Amazon and still boasts a net worth of $42.6 billion on Forbes, despite having sold nearly half of her shares.
In 2019, Scott signed the Giving Pledge, a commitment made by hundreds of the world’s richest individuals to donate the majority of their wealth. The way she has upheld that promise is legendary and one for the books. She is giving generously to hundreds of organizations and managing to maintain complete transparency through her Yield Giving website. In the past year alone, more than 360 organizations received a total of $2.15 billion.
“In addition to whatever assets life has nurtured in me, I have a disproportionate amount of money to share,” she wrote in a letter on the Giving Pledge website. “My approach to philanthropy will continue to be thoughtful. It will take time, effort, and care. But I won’t wait. And I will keep at it until the safe is empty.” She certainly doesn’t seem like someone who will wait. It’s only a matter of time before the world discovers who benefits from the newly added $10 billion in her kitty.
Mackenzie Scott’s donation bandwagon continues in 2024 –
The organization works with underserved minority businesses and communities. With this significant influx of wealth, Hire360 will first construct its Training and Business Development Center. “We are extremely grateful to Ms. Scott for her vision and commitment to building a future that uplifts us all,” said Jay Rowell, executive director of HIRE360. “We are coupling Mackenzie Scott’s generous support with donations from dozens of contractors and apprenticeship programs to complete this state-of-the-art training center that will provide community residents with a solid path to good-paying, middle-class, union jobs.”
Slated to open in spring 2024, this 40,000-square-foot facility will include conference and meeting spaces, construction training rooms, a solar training center, office space for diverse contractors and suppliers, and a dedicated playroom to help remove childcare as a barrier to careers. HIRE360 is a community-focused nonprofit ensuring that Chicago’s communities come together to pave a prosperous future. They work in areas like workforce development, workforce recruitment, and training programs.
