While yacht-faring Jeff Bezos donated $37 million to save the Pacific Ocean, his ex-wife Mackenzie Scott quietly handed over double the amount to empower historically Black colleges and universities for generations to come

While Jeff Bezos is doing his bit to save the planet, particularly the Pacific waters, with a recent $37.5 million donation, his ex-wife and megadonor MacKenzie Scott is improving the lives of its inhabitants. The 55-year-old force of philanthropy has donated $70 million to the UNCF, the nation’s largest private provider of scholarships, to accelerate its $1 billion campaign aimed at financially strengthening all 37 UNCF member HBCUs.

The billionaire, worth $33 billion, has been quiet for most of the year, but this move marks a major step in the right direction. “It provides a once-in-a-generation opportunity for our member institutions to build permanent assets that will support students and campuses for decades to come,” UNCF President and CEO Dr. Michael L. Lomax told The Associated Press.

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Scott, who employs a “no strings attached” style of giving, earmarked her gift for UNCF’s pooled endowment. The structure is designed to pay out about 4% annually, meaning her $70 million infusion could generate roughly $2.8 million every year in perpetual support for HBCUs while preserving the principal.

Spread evenly across all 37 campuses, that payout would average around $75,000 per school annually. However, UNCF’s strategy is to help each institution reach a $10 million-per-school target. Once fully funded, each $10 million “stake” can yield about $400,000 per year in support for scholarships, faculty, and campus programs.

Scott’s donations matter significantly. In 2019, 99 HBCUs received a combined $45 million in grants, while just eight Ivy League schools attracted a staggering $5.5 billion from the 1,000 largest U.S. foundations. Against that backdrop, her $70 million gift represents a transformational shift. This isn’t Scott’s largest act of generosity, her previous gifts include $436 million to Habitat for Humanity International and 84 U.S. affiliates, $281 million to Boys & Girls Clubs of America and local chapters, and $275 million to Planned Parenthood Federation of America and affiliates.

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But this donation stands out for its potential to strengthen all 37 UNCF member HBCUs for generations to come. Scott has also revealed that she has given $19.3 billion to more than 2,500 nonprofits.