MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, has emerged as one of the most influential philanthropists in the world. Since 2020, she has given away more than $14.1 billion to hundreds of organizations, mostly focused on social justice, racial equity, gender equality, education and public health.
Scott’s approach to philanthropy is unconventional and disruptive. She does not have a foundation or a staff. She does not solicit proposals or impose reporting requirements. She does not announce her donations in advance or seek publicity for them. She simply writes checks to nonprofits that she trusts and admires, and lets them decide how to use the money.
In the first half of 2023, Scott donated $97 million to 17 nonprofits, mostly in the field of early-childhood education and development. Among the recipients were the Ounce of Prevention Fund, which supports high-quality early learning programs for low-income families; the Harlem Children’s Zone, which provides comprehensive services to children and families in Harlem; and the Children’s Defense Fund, which advocates for children’s rights and well-being.
Scott’s donations are unrestricted, meaning that the nonprofits can use them for any purpose they see fit. This is a rare and welcome gift in the nonprofit sector, where most funders impose strict conditions and expectations on their grants. Scott believes that the nonprofits know best how to address the challenges they face, and she trusts them to make wise decisions.
Scott’s generosity has been praised by many in the philanthropic community, who see her as a role model and a catalyst for change. “She is rewriting the playbook on philanthropy,” said Darren Walker, president of the Ford Foundation. “She is challenging and disrupting conventional norms about how giving is done.”
Scott’s donations have also inspired other wealthy individuals to follow her example and give more. In June 2023, Warren Buffett announced that he would donate $4.1 billion worth of Berkshire Hathaway shares to five foundations, including the Bill & Melinda Gates Foundation. He also said that he would resign as a trustee of the Gates Foundation, and that he would give away nearly all of his fortune during his lifetime or shortly after his death.
Scott’s philanthropy is driven by her personal values and vision. She is a signatory of the Giving Pledge, a campaign that encourages billionaires to give away most of their wealth. She is also a novelist and a feminist, who has written about women’s empowerment and resilience. She has said that she wants to use her wealth to support “people suffering from the collateral damage of inequality”.
Scott’s philanthropy is also influenced by her divorce from Bezos, which was finalized in 2019. As part of the settlement, she received a 4% stake in Amazon, worth about $38 billion at the time. Since then, her net worth has increased to about $60 billion, making her the third-richest woman in the world. She has vowed to give away most of her fortune in her lifetime.
Scott’s philanthropy is not without criticism or controversy. Some have questioned her motives and methods, wondering whether she is truly altruistic or merely seeking attention or redemption. Others have challenged her choices and impact, arguing that she should focus on more systemic or global issues, or that she should collaborate with other funders or experts to achieve greater results.
Scott has acknowledged that her philanthropy is imperfect and incomplete. She has admitted that she has “a lot to learn” and that she is “far from finishing”. She has also invited feedback and suggestions from anyone who wants to share their ideas with her. She has said that she hopes that her philanthropy will spark “positive change” and “empower voices” that have been silenced or ignored.
Relevant articles:
– MacKenzie Scott donates $2.7 billion to 286 organizations, CNN Business, June 15, 2023
– MacKenzie Scott gives $40 million to FIU, largest gift in school histor], Miami Herald, July 20, 2023
– MacKenzie Scott’s latest donations include $15 million for the United Way of Central Indiana, Indianapolis Star, August 10, 2023