MacKenzie Scott makes her largest known donation with $US436m gift
MacKenzie Scott has donated $US436 million to Habitat for Humanity, the largest publicly disclosed donation from the billionaire philanthropist since she pledged in 2019 to give away the majority of her wealth.
The gift was disclosed Tuesday in a statement from the Greater San Francisco chapter of the home-building nonprofit, which is among the 84 Habitat affiliates that will share the contribution.
Jeff Bezos and MacKenzie Scott divorced in 2019 after 25 years of marriage.Credit:AP
“This incredible act of generosity and investment in our work will make an impact throughout our region for decades to come,” said Maureen Sedonaen, head of Habitat for Humanity Greater San Francisco.
Scott, 51, the philanthropist and former wife of Amazon.com Inc. founder Jeff Bezos, has a fortune of $US54.4 billion, according to the Bloomberg Billionaires Index. As part of the divorce settlement, Scott received 4 per cent of Amazon’s shares. She is single-handedly reshaping nonprofits with her giving, donating to organisations tackling social welfare, education, arts, health and more.
With a team of consultants and donor-advised fund sponsors, she has proven nimble in her philanthropy, seemingly switching the target of her gifts as needs arise around the country. The vast majority are to domestic causes, though some have gone to internationally focused organisations. Since promising to donate the majority of her wealth via the Giving Pledge in 2019, she has made more than $US9 billion in grants.
‘Never wavered’
Scott initially told organisations to keep her gifts secret until she made her own announcement in the form of Medium blog posts, where she shared the cumulative amount of all her gifts. Late last year she pivoted, saying it was up to the organisations to share their grants. In her most recent blog post, Scott said her team was working on a website that would launch sometime this year and would include more information about her giving, including a searchable database of her grants.
“My commitment to sharing information about my own giving has never wavered,” Scott wrote. “I will continue to post updates twice every twelve months or so.”
A spokesperson for Scott didn’t immediately respond to an email seeking comment.
Last year, a Bloomberg analysis of her giving — which totalled closer to $US8.6 billion at the time — found more than $US1.6 billion had gone to education nonprofits, including historically Black universities. She’s also contributed to social assistance organisations like Goodwill and YMCA. For almost 90 per cent of groups that responded to the Bloomberg survey, Scott’s gift was the largest they’ve ever received, with donations ranging from $US750,000 to $US60 million.
Affordable housing has been a critical issue in Northern California, where wealthy Silicon Valley workers have contributed to skyrocketing home values, pushing out working-class residents.Credit:AP
Her gift to Habitat for Humanity will help address historic inequities in homeownership rates in the area around San Francisco, Sedonaen said in the statement. Affordable housing has been a critical issue in Northern California, where wealthy Silicon Valley workers have contributed to skyrocketing home values, pushing out working-class residents, particularly those of colour.
The donation will help build homes for more than 250 working families in San Francisco, San Mateo and Marin, according to the statement.
“Investing in affordable homeownership is a tangible and effective response to California’s housing crisis,” Sedonaen said. “I see every day the impact this has on families enduring overcrowded living conditions or undertaking horrifically long commutes.”
Bloomberg, AP
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