MacKenzie Scott donates $2.7 billion, blasts wealth gap

MacKenzie Scott donates $2.7 billion, blasts wealth gap

6/16/2021 1:48:00 AM

MacKenzie Scott donates $2.7 billion, blasts wealth gap

MacKenzie Scott, the billionaire philanthropist and Jeff Bezos’ ex-wife, gives $2.7 billion to a variety of charities — $8.5 billion since July 2020.

AdvertisementThe world’s 500 richest people added $1.8 trillion to their combined net worth last year, according to the Bloomberg Billionaires Index. The gains were particularly pronounced in the U.S. and especially among tech titans, including Bezos, the richest person in the world.

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Scott, who ended up with a 4% stake in Amazon.com Inc. following her divorce, is worth almost $60 billion. That’s even after her rapid giving that’s already made her one of the most consequential philanthropists in the world.Last year she likely set a record for the largest annual distribution by a living person. Scott has been lauded by experts and philanthropy critics alike not only for the speed and scope of her gifts, but also for what organizations she’s giving to — smaller ones typically overlooked by big donors — and for the no-strings-attached that come with her gifts.

“It’s important to note that she has also just written checks to these organizations, leaving her own interests to the side and giving up power to the organizations she’s funding,” said Erik Stegman, executive director of Native Americans in Philanthropy, one of the handful of Native American organizations Scott gave to in this round. headtopics.com

Eduardo Vilaro, chief executive officer of Ballet Hispanico, another group that received money from Scott in this latest batch, also said the unrestricted nature was important for his organization. Vilaro said the donation is slightly larger than their annual operating budget and the biggest it’s received in its more than 50-year history. He was made aware of the gift about a month ago when he received a call out of the blue from one of Scott’s representatives.

“’Mr. Vilaro, we love what you and the organization are doing,” he remembers the person saying. ‘We would like to bestow this gift to you.’” Vilaro was referring to the Bridgespan Group, a philanthropic consultant Scott is working with to do her giving, to follow up.

Still, Scott has her critics.The seeming randomness of how she chooses organizations isn’t good, said Maribel Morey, a historian of philanthropy and executive director at the Miami Institute for the Social Sciences. Morey said she wishes Scott would be more transparent about how she picks recipients, especially given the significance of the donations.

Advertisement“The public deserves to know how and why certain organizations are getting funding,” Morey said. Read more: Los Angeles Times »

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Thank you! Amazon is my design thinking. Should pay me. If paying to repeaters thru some tricky ways, that is corruption Good for her, especially the seeming randomness of her choices. Ignore those who are trying to put rails around her giving. Hear me out, what if she, and other billionaies, were taxed heavily instead of donations write-offs?

MacKenzie Scott donates $2.7B, cites fortune 'enabled by systems in need of change'MacKenzie Scott, billionaire philanthropist and ex-wife of Jeff Bezos, donates $2.7 billion to charity, citing fortune ‘enabled by systems in need of change’ Lady if got 50 G you wanna donate that alone would help too reach my American dream are half that I'm not greedy For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to him GeorgeLinf32 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success⚖️ Kind. So giving. Thank you

MacKenzie Scott is giving away another $2.74 billionMacKenzie Scott and her husband Dan Jewett donated $2.74 billion to organizations that focus on the arts and combating racial discrimination. The settlement from Scott's 2019 divorce from Amazon CEO Jeff Bezos made her one of the world's richest people. Kindly hit the follow button 🔘🔘🔘 247_pills I promise to follow back You can unfollow me if you don't get a follow back within 60 seconds Try me and see ✅✅✅✅✅✅✅✅✅ No Cap 🧢🧢🧢 Why does she look like Jeff Bezos? Giving a large amount of money to the arts like that is not necessary. They'll get plenty of money from other rich people. A large chunk of that money could went to more social programs to help folks

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