The wife of the richest person in the world, MacKenzie Scott is giving away her future. She has donated more than $4 billion in four months after declaring $1.7 billion gifts in July.
Scott signed her Giving Pledge in 2019
She told about her latest contributions in a blog post, where she asked her team to understand how to give away her fortune. The world’s 18th richest person’s wealth has climbed from $23.6 billion to $60.7 billion.
“This pandemic has been a wrecking ball in the lives of Americans already struggling,” she published on Medium. “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.”
Her gifts this year have reached $6 billion, which “has to be one of the biggest annual distributions by a living individual” to working charities.
Berman analyzed that Scott’s donations tell that it is feasible to give a big amount easily without having non profits to “jump through a lot of hoops to get the money.” The huge amount of Scotts donation may create a disapproval of common theory which is that it is difficult to put heavy amounts of money without running into extreme troubles or proving wasteful.
Sharing Results
Her advisors zeroed in with 284 groups to have gifts, she explained in a post, from a list of 6500 organizations. Donations focused on organizations “operating in communities facing high projected food insecurity, high measures of racial inequity, high local poverty rates, and low access to philanthropic capital.”
The Recipients for this donation include more than thirty numerous organizations of senior education, several of them are Tribal and Black Colleges. Alongside this, the donation catered to around 40 food banks.
The Executive Director for Meals on Wheels of Tampa, Scott King said that he did not even apply for the donations and was given the gifts. But the Macenzie team contacted King and gave them 2600 meals each day and 850 homes.
“This comes at a great time for us,” he said. “There are areas in and around Tampa that aren’t being served and need to be.”
Just like this, CEO of Maine based Coastal Enterprise Inc. Betsy Biemann, tools that they received a donation of $10 million which equals to around their annual operating budget. It clearly gives an idea of Mackenzie wealths and fortune.
“It’s an amazing day at the end of what’s been a very challenging year,” said Biemann, whose nonprofit aims to finance small entrepreneurs which are specifically located in rural and not advantaged areas.
Giving Pledge
Macenzie, who was currently 50, was previously married to Amazon CEO Jeff Bezos, signed the official Giving Pledge during the year 2019, and committed to provide her fortune for the Community.
“I have a disproportionate amount of money to share,” she said in her pledge. “My approach to philanthropy will continue to be thoughtful. It will take time and effort and care. But I won’t wait. And I will keep at it until the safe is empty.”
