It’s no secret MacKenzie Scott has dedicated some stunning acts of philanthropy of late. She gave shock items totaling $410 million to traditionally Black faculties and universities in December 2020 alone, including to the practically $6 billion she gave away final 12 months.
However a new Bloomberg report makes wonderful use of a visible timeline to supply some perspective on simply how way more beneficiant Scott has been together with her cash in comparison with her ex-husband Jeff Bezos:
Since their divorce in 2019, she’s turn out to be one of the vital consequential philanthropists of her technology. Scott, who now controls one-quarter of the previous couple’s mixed wealth of greater than $250 billion, gave away nearly $6 billion final 12 months to working charities—organizations that do good each day, quite than simply steward philanthropic cash.
The Bloomberg timeline exhibits how the tempo of giving shifted after the couple divorced; previous to 2019, they made a number of million- and multimillion-dollar donations right here and there. (I’m nonetheless chuckling on the picture for the 12 months 2014 when the Bezoses donated a complete of $2.25 million to fund medical meals allergy analysis at Stanford College: a photograph of peanuts. It really works on two ranges!)
The article additionally notes that Bezos and Scott are likely to differ in how they donate their cash. Bezos said in 2017 he needed to incorporate “proper now” donations amongst his principally long-term philanthropic efforts because the bulk of his donations went to foundations. However Scott gave on to charitable organizations:
Chuck Collins, director of the Program on Inequality and the Widespread Good on the Institute for Coverage Research, notes that money went on to charities, quite than sitting in a basis. “The cash hit the road,” he says.
Scott additionally received reward from philanthropy specialists for the way in which she donated her cash: with out strings connected. Many donors of huge quantities have particular directions for a way they need charities to make use of their funds. However Scott’s items in 2020 had been unrestricted, indicating she trusted the folks on the bottom doing the work, and it provides misinform the concept it’s “arduous” to make billion-dollar donations.
Bezos is following within the footsteps of different well-known billionaires who turned their focus towards philanthropy after retiring from the day-to-day of operating a enterprise. He’s stepping down as Amazon CEO later this 12 months and says he plans to give attention to “different passions,” together with the Bezos Earth Fund, the Day 1 Fund, and The Washington Publish.
If he wants some tips on easy methods to have a significant influence together with his gigantic fortune, he may do rather a lot worse than to take a couple of ideas from his ex. She appears to have a deal with on easy methods to do essentially the most good as immediately as doable. Go read this Bloomberg article for an in depth take a look at how she’s achieved it.