Alimony Going in Charity?

MacKenzie Scott, the ex-wife of the world’s richest man, has continued on her donation spree from last year by giving away 2.74 Billion US Dollars more to 286 organizations in charities and racial equity causes.

MacKenzie Scott and Jeff Bezos parted ways in 2019, and Jeff was still the wealthiest person at the time. Their communal property divorce in 2019 left Scott with US$35.6 billion in Amazon stock while her ex-husband retained 75% of the couple’s Amazon stock. Even though she has been a regular in giving away her wealth, the philanthropist billionaire’s net worth is currently around 60 Billion USD thanks to the ever-increasing share prices of Amazon.

MacKenzie and her husband Dan Jewett announced to give away nearly $2.74 billion to organizations that are “in categories and communities that have been historically underfunded and overlooked,” according to her post on her blog on 15th June.

She further added, “Sitting down to write this post, I felt stuck. I want to de-emphasize privileged voices and cede focus to others, yet I know some media stories will focus on wealth,” saying she would prefer it be headlined “286 Teams Empowering Voices the World Needs to Hear.” However, she made sure to mention the amount of wealth to bring it to notice.

Her good deeds have kept her in headlines since 2019 from her divorce when she promised to give away all of her wealth in charities and donations until she is left with nothing. The growing stock prices of Amazon have allowed her to donate at a better speed and have also kept her pockets full.

Scott started with her donations in July 2020, giving away a donation worth $1.7 billion to historically Black colleges and universities, including other groups. Later in December same year she announced giving away another $4.2 billion to hundreds of organizations.

Scott is a member of the Giving Pledge after signing for it in 2019, pledging to donate away no less than half of her wealth to charity. In 2010, Millionaire Warren Buffet and Bill and Melinda Gates started to encourage wealthy people around to donate to charity. Interestingly, Bill and Melinda have also recently filed for a divorce. How they will manage and distribute their wealth is a subject that is intriguing for a lot many.

Recipient of the latest donation by MacKenzie Scott include art funds and other education programs, including programs for impoverished children and gang rehabilitation. The blog post also read donating to numerous colleges and at least nine universities.

The blog also mentioned that she and her current husband “looked for 2- and 4-year institutions successfully educating students who come from communities that have been chronically underserved.”

The recent donation on Thursday made it her third big donation in less than 11 months, amounting to above 8 Billion US Dollars. This amount is larger than most of the charities done by the largest companies and foundations. The donations have been primarily through direct gifts to nonprofit organizations, and she is also in talks with her team on how she can donate more in less time—good time to run a nonprofit organization if you ask us.

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