Novelist and philanthropist MacKenzie Scott is well-known for charity work. Her recent donations amount to $2,004,400,000 to 199 organizations in 2024, which she revealed in her Yield Giving blog post on December 18, 2024. With this, the total amount she has donated since 2019 reportedly comes to $19.2 billion.
Around 75% of her recent donations have gone to non-profit organizations. These organizations work toward assisting people to access affordable housing, stable jobs, education, healthcare, and other needs. The remaining organizations that received her donations work towards natural resource conservation and human rights. As per her statement,
“I’ve asked the investment team helping me manage the assets I’m working to give away to source funds and companies focused on for-profit solutions to these challenges.”
In the blog post, MacKenzie Scott expressed her preference for making gifts by drawing from investments in mission-driven ventures led by individuals from underserved populations, such as women and people of color. She does not prefer traditional financial accounts as those often benefit already privileged leaders.
According to Forbes, her net worth currently stands at $31.1 billion. Reportedly, her wealth accounts from her Amazon shares which she received after her divorce from Jeff Bezos. After her divorce was finalized in 2019, she got a 4% stake in Amazon. Since then, she had promised to give away at least 50% of her wealth over her life course.
In terms of how she managed her wealth, MacKenzie Scott revealed her directors have been advised to invest in ‘mission-aligned ventures.’ Most of her grants this year went to strengthen economic security.
MacKenzie Scott mentioned her donations could help advance economic mobility and create value
Although not much is known about her fortune and wealth besides her philanthropic work, MacKenzie Scott donated her Beverly Hills home in 2022 which was worth $55 million. According to Goodreturns, the donation went to the California Community Foundation.
Her charitable efforts have also spread across various countries due to her donations to organizations in Brazil, India, Kenya, Latin America, etc.
In her blog post, Scott explained that the approach she follows allows funds to promote economic mobility and foster innovation through diverse perspectives, and by empowering experienced nonprofit teams to create meaningful impact through transformative care and change models.
This year marked a milestone in Scott's philanthropy with her first application-based grant process. In March 2024, she announced recipients of an open call for nonprofits, by awarding $640 million to over 360 organizations, which was more than initially planned.
MacKenzie Scott has given no-strings-attached grants to more than 2,450 organizations. Enterprises like CAMFED and Undue Medical Debt have their third donation from Scott in 2024.
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For Shaun Donovan, CEO of Enterprise Community Partners, it was a surprise when he learned that his company would get a second major donation from MacKenzie Scott. In 2020, Enterprise Community Partners received $50 million from the philanthropist.
Donovan emphasized the importance of treating unexpected funding, like Scott's gifts, as a rare opportunity and avoiding its use for regular expenses or creating budget gaps.
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