Billionaire philanthropist MacKenzie Scott continues her remarkable streak of charitable giving, announcing that she has donated over $2 billion in 2024 to 199 organizations. This latest round of donations brings her total contributions to $19.2 billion since 2019, cementing her position as one of the most generous philanthropists in the world.
Focus on Poverty and Economic Security
In a blog post shared on Wednesday, Scott revealed that much of her 2024 donations were aimed at alleviating poverty. She noted that roughly 75% of the organizations she supported this year focus on improving the economic security and opportunities of those struggling financially. These organizations provide critical services such as:
- Affordable housing
- Healthcare access
- Financial counseling
- Child development programs
- Post-secondary education
Other recipients include nonprofits that work on human rights advocacy and natural resource conservation.
This approach aligns with Scott’s broader philanthropic philosophy of supporting grassroots organizations that uplift marginalized communities. By funding these efforts, Scott aims to drive meaningful societal change.
A Commitment to Giving
MacKenzie Scott’s philanthropic journey began in earnest following her 2019 divorce from Amazon founder Jeff Bezos. As part of the divorce settlement, Scott received a 4% stake in Amazon, which was valued at approximately $38 billion at the time. Since then, she has committed to giving away the majority of her wealth over her lifetime, a pledge she made by signing The Giving Pledge in 2019.
Despite her substantial donations, Forbes estimates that Scott still has a net worth of $31.6 billion, largely due to the growth of Amazon’s stock.
Scott has also been vocal about her mission to shift the focus away from privileged voices like her own and highlight the work of the organizations and communities she supports. In a 2021 blog post, she wrote: “People struggling against inequities deserve center stage in stories about change they are creating. This is equally — perhaps especially — true when their work is funded by wealth.”
Embracing Impact Investing
In addition to her direct donations, Scott has explored the concept of impact investing—channeling funds into for-profit ventures that align with her philanthropic goals. In her latest post, she described her desire to invest in mission-driven companies and funds led by women, people of color, and undercapitalized groups. By doing so, Scott aims to address systemic societal challenges while generating returns that can be reinvested into her philanthropy.
This strategy resembles the efforts of other prominent philanthropists, such as the Bill and Melinda Gates Foundation’s Strategic Investment Fund, which focuses on global health initiatives, and Walmart heir Lukas Walton’s Builders Vision, which transitioned 90% of its billion-dollar endowment into impact investments.
Scott explained her approach in the blog post: “When I make gifts, rather than withdrawing funds from a bank account, or from a stock portfolio that increases the wealth and influence of leaders who already have it, I’d like to withdraw them from a portfolio of investments in mission-aligned ventures, with leaders from the populations they are serving.”
A Legacy of Generosity
Since 2019, Scott has consistently ranked on Forbes’ list of the most generous billionaires, having given away roughly one-third of her net worth. Her philanthropic efforts have redefined how the ultra-wealthy approach giving, emphasizing transparency, equity, and trust in the organizations she supports.
Scott’s actions stand as a testament to her belief in empowering underserved communities and addressing systemic inequities. As she continues to give at an unprecedented scale, her generosity serves as both an inspiration and a challenge to other billionaires to follow suit.
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