MacKenzie Scott’s wealth is growing faster than she can give it away

Philanthropist MacKenzie Scott has donated $3.9 billion to 465 different non-profits since last June, she said in a blog post today (March 23). But even as she gives away billions, Scott’s net worth has continued to grow: Today she’s worth $50 billion, according to the Bloomberg Billionaire’s index.

Scott first pledged to give away half of her wealth in 2019 following her divorce from Amazon founder Jeff Bezos. As part of the divorce settlement Scott received a 4% stake in Amazon, worth about $36 billion at the time.

The recent donations, she said, aim to “support the needs of underrepresented people from groups of all kinds.”

Which organizations are receiving Scott’s donations?

Scott donated $275 million to Planned Parenthood’s national office and 21 state affiliates, representing the largest-ever gift from a single donor to the reproductive health organization. She also gave money to a number of other organizations focusing on reproductive rights, including SisterSong and the National Latina Institute for Reproductive Justice.

The non-profit housing organization Habitat for Humanity International and its US affiliates also received $436 million from Scott. The organization’s CEO said they would use the funds to increase the supply of affordable housing, particularly for communities of color.

The philanthropist’s list also includes a $281 million gift for Boys & Girls Clubs of America, as well donations to the Innocence Project, which advocates for people who were wrongfully convicted, and humanitarian organizations working on relief efforts in Ukraine.

Scott’s wealth continues to grow

When Scott first pledged to give away her wealth three years ago, she said she would keep at it “until the safe is empty.” But the pandemic proved lucrative for Amazon, and as the company has grown, so has Scott’s net worth. In the past two weeks alone it grew by more than $10 billion, according to Bloomberg, thanks to the climbing value of Amazon stock.

Though Scott has given away about $12 billion over the past two years, she’s still $19 billion richer than she was when she first committed to donating her wealth.

Leave a Reply

Your email address will not be published. Required fields are marked *