On Tuesday MacKenzie Scott announced the second installment of her charitable donations to 384 organizations who will receive a total of approximately $4.2 billion. Four months ago she gave away $1.7 billion to 116 organizations. She has earlier said that her plan is to donate a major part of her fortune.
According to Bloomberg Billionaires Index Scott is the 18th richest person in the world. The pandemic caused Amazon shares surge to great heights increasing the value of the 25% stock she received, following her divorce with Bezos. Her net worth is $60.7 billion.
“The pandemic has been a wrecking ball in the lives of Americans already struggling,” Scott said in a medium post. She added, “Economic losses and health outcomes alike have been worse for women, for people of color, and for people living in poverty. Meanwhile it has substantially increased the wealth of billionaires.”
Scott also added a list of hundreds of organizations, with a wide diverse portfolio from education, civil rights, advocacy, food banks, women, entrepreneurs etc. who had received donations. The author and philanthropist said that they release funds after doing research as well as accepting suggestions from experts.
She also said, “Because our research is data-driven and rigorous, our giving process can be human and soft.”
In 2019, she had committed to “The Giving Pledge” initiative. Warren Buffet and Bill and Melinda Gates have launched this program, which encourages the richest people in the world to contribute a major part of their fortunes to charitable causes.
This content is being provided to you for informational purposes only. The content has been prepared by third parties not affiliated with CWEB Inc, a business. This content and any information contained therein, does not constitute a recommendation by CWEB to buy, sell or hold any security, financial product or instrument referenced in the content. This information neither is, nor should be construed as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. CWEB Inc. does not offer or provide any opinion regarding the nature, potential, value, suitability or profitability of any particular investment or investment strategy, and you shall be fully responsible for any investment decisions you make, and such decisions will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, and liquidity needs.
Unless stated otherwise, the web content provided by the CWEB family of companies is for educational purposes only. The information and tools provided neither are, nor should be construed, as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. or its affiliates. Unless stated otherwise, no information presented constitutes a recommendation by CWEB Inc. or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy.