Mackenzie Scott, ex-wife of Amazon CEO Jeff Bezos, just revealed that she gave away $4.2 billion to charity in four months. According to CBS News, Bezos claims she increased her charitable donations due to the “wrecking ball” trickle effect of the coronavirus. Scott noted that the pandemic “substantially increased the wealth of billionaires.”
Scott is among the few who have benefited financially from the coronavirus and what it’s done to so many people. Her wealth is now valued at $60 billion, which is a $24 billion increase than at the start of the year. Scott recently signed the Giving Pledge, which was started by Warren Buffett in 2019. She is giving so much back because the organization was designed to encourage those with such financial status to donate most of their wealth to worthy causes.
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According to the outlet, Scott took to Medium to announce her news and noted that she filtered through thousands of organizations, 6,490 to be exact, and whittled it down to 384 that she feels have a “high potential for impact.” Scott also said that she was inspired by grassroots efforts to help people in need, even with “impromptu person-to-person Venmo gifts.” While the charitable causes she gave to include food banks, others focus on “long-term systemic inequities that have been deepened by the crisis.”
“We shared each of our gift decisions with program leaders for the first time over the phone, and welcomed them to spend the funding on whatever they believe best serves their efforts,” she wrote. “The responses from people who took the calls often included personal stories and tears.” Among those given financial relief are more than 40 Feeding America food banks; more than 40 Goodwill affiliates; 30 member programs of Meals on Wheels, as well as, educational institutions like City University of New York’s Lehman College and Morgan State University in Baltimore.
Chuck Collins, the director of the charity reform initiative at the Institute for Policy Studies, complemented Scott’s charitable efforts, noting who she’s surrounding herself with may be having a positive impact on her financial decisions. “Scott, a newcomer on the billionaire wealth scene, has surrounded herself with advisors that come from under-resourced communities, not the folks that typically sit on foundation boards.” He added, “As a result, the bulk of these gifts are the works of mercy during this pandemic — food banks, direct social service organizations, emergency funds, and support services for the most vulnerable.”
