Billionaire philanthropist MacKenzie Scott has continued her rapid pace of charitable giving by selling off another 11% of her Amazon shares, worth over $8 billion as of September 30. Since her divorce from Amazon founder Jeff Bezos in 2019, Scott has sold or gifted a total of 255 million shares, amounting to approximately $37 billion. Her generous donations have totaled at least $17.3 billion to various nonprofit organizations, making her one of the top five most generous donors in the U.S. according to Forbes.
Despite her significant giving, Forbes now estimates Scott’s net worth at $30 billion, down from $38 billion last week and from her peak of $59 billion in 2021. This decrease is attributed to the assumption that Scott has put the majority of her disposed Amazon shares into charitable entities. If she had not given away any shares, she would be worth an estimated $82 billion, placing her among the world’s 20 richest individuals and the second richest woman.
Scott, who typically remains silent about her philanthropy, has been sharing information about her grants through her Yield Giving website. Recent beneficiaries of her donations include organizations like the Mni Sota Fund, Access to Capital for Entrepreneurs, and Coastal Enterprises, totaling millions of dollars in contributions. She prioritizes giving small nonprofits unrestricted cash grants that often surpass their annual budgets, with the option for organizations to choose whether to publicly announce the donations or keep them anonymous.
Scott has reiterated her commitment to shining a spotlight on the nonprofits she supports, rather than herself. She gives each organization the choice to decide if they want to publicize the gift or keep it confidential, depending on whether they believe the publicity will be beneficial. Recognizing the potential impact of her endorsements, recipients have reported Scott’s gifts leading to increased funding and a stronger reputation, attracting more support from other donors.
The billionaire philanthropist typically announces new charitable grants towards the end of each year on her Yield Giving website. It is likely that a portion of the shares sold in the latest filing have been allocated to nonprofit groups throughout the year. Scott has already donated over $17.3 billion from the approximately $37 billion in Amazon shares she has disposed of, and the remaining $20 billion may be held in charitable accounts or other investments. Most charities have policies of immediate sale of donated assets, ensuring prompt funding for their programs and initiatives.
Known for her unique approach to giving, Scott rarely solicits grants from organizations and offers substantial unrestricted funding that often exceeds their annual budgets. Her donations, which are often unexpected and delivered by phone call, can serve as a stamp of approval for lesser-known charities and potentially attract additional funding. Recipient organizations have expressed gratitude for Scott’s donations, noting the positive impact on their reputation and ability to secure other substantial grants. Her philanthropic efforts continue to make a significant difference in the lives of many individuals and communities across the country.
