Megadonor MacKenzie Scott has once again solidified her status as an unwavering beacon of benevolence, ending the year $2 billion poorer yet seemingly happier than ever. The American philanthropist continued her remarkable streak of generosity in 2023, donating $2 billion to 199 organizations. This follows her 2022 contributions of nearly $2.2 billion to 360 organizations. Scott’s primary asset is her Amazon stock, in which she still holds a 4% stake. Despite giving away over $19 billion in the last five years, her net worth remains a staggering $31.1 billion.
Acknowledging this year’s monumental $2 billion in donations, she shared her thoughts in a heartfelt blog post, “This morning, with the help of my team, I uploaded information about $2,004,400,000 in gifts to the 199 organizations below. Roughly 75% of them are nonprofits that support the economic security and opportunity of people who are struggling by improving access to affordable housing, jobs that provide stability for themselves and their families, child development and post-secondary education, healthcare, and financial counseling, business coaching, and low-interest-rate loans focused on increasing economic potential and building wealth.”
She added, “The gratitude I feel to these nonprofits, to these funds and companies, and to the people helping me give these assets away is similar. I’m inspired by all the ways people invest in each other.” Scott’s “no strings attached” giving style, which grants nonprofits full control over how to allocate the funds, has profoundly impacted sectors like affordable housing. Some organizations have even received repeat donations. For example, Enterprise Community Partners, an affordable housing nonprofit, received $50 million from Scott in 2020 and an additional $65 million this year.
However, her generosity comes with clear guidance. Shaun Donovan, CEO of Enterprise Community Partners, remarked, “We were not expecting their second gift. Every time they award this funding, they’re very clear that organizations should not expect it.” He advised, “Really treat it that way. Don’t use it for regular operating expenses. Don’t use it for things that will create a cliff or a hole in your budget.”
This year also marked a shift in Scott’s approach, as she began awarding grants through an application process. In March, she announced recipients of an “open call” for nonprofits, distributing $640 million to more than 360 organizations selected from over 6,000 applicants. Earlier in 2023, Scott sold 65 million shares of Amazon, valued at approximately $8.4 billion. She continues to own 139 million shares of the company, ensuring that her philanthropy remains as robust as her fortune.
