What good is all the money in the world if you won’t be using it to make an impact or contribute to change in the lives of those in need?
MacKenzie Scott, the world’s third richest woman, has been using her wealth to contribute towards the greater good.
After 25 years of marriage, Amazon founder Jeff Bezos and MacKenzie Scott settled their divorce in 2019, where she received 4% of his Amazon stake. In addition to owning a portion of Amazon, she is the author of two novels, “The Testing of Luther Albright: A Novel” published in 2005, and “Traps”, published in 2013.
Today, Scott is known for her colossal contributions to various charities and groups. In 2019, shortly after her divorce, she willingly signed the “Giving Pledge”, a pledge signed by some of the world’s wealthiest individuals to contribute the majority of their wealth to charitable causes. Upon signing the pledge, MacKenzie Scott said:
“I have a disproportionate amount of money to share. 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...”
MacKenzie Scott has generously contributed to various activist groups, educational, religious and environmental organizations.
Since her promise to the “Giving Pledge”, she’s shown remarkable dedication:
- A total of $2.74 billion was contributed to 286 arts and racial justice groups.
- A total of $5.8 billion in gifts was given to 500 non-profits.
- A total of $4.2 billion was given to 384 basic needs organizations.
- $40 million was contributed to Morgan State University.
- She’s contributed to groups supporting women’s rights, LGBTQ equality and the fight against climate change.
- $40 million was contributed to Howard University.
- $40 million to the University of Central Florida and Florida International University.
- $30 million to Long Beach City College in California.
That’s a whole lot of millions! MacKenzie Scott follows a “no strings attached” approach to her contributions, stating that there are no restrictions to how her beneficiaries use the funds. The funds contributed should be used where and how they see fit for the benefit of their organization.