Last year, immigrant rights groups, food banks, and struggling colleges across the United States discovered a surprise benefactor as billions of dollars was donated by the ex-wife of Amazon founder MacKenzie Scott into organizations feeling the harsh impacts of the pandemic.
Last year, Scott donated almost $6 billion in charitable gifts and did not attach any naming rights requirements or restrictions.
Giving USA Foundation’s board chair, Laura MacDonald revealed that this approach by Scott is part of the “trust-based philanthropy” movement.
Trust-based philanthropy has catapulted to the top of the list of taking points in the philanthropic world as a result of Scott’s initiative, this may embolden other donors to try something and take more risks.MacDonald
The latest funding round by Scott took place in December, which includes 384 organizations. In a blog post, she wrote:
This pandemic has been a wrecking ball in the lives of Americans already struggling. Economic losses and health outcomes alike have been worse for women, for people of color, and for people living in poverty. Meanwhile, it has substantially increased the wealth of billionaires.MacKenzie Scott
Philanthropy activists revealed that the actions of Scott will likely make other billionaires take notice. Center for Effective Philanthropy president, Phil Buchanan revealed that:
There is a ton to celebrate about her philanthropy. I would hope that the sheer amount of money she is getting out the door and her intention to continue to do so is a kick in the pants to all those sitting on tremendous wealth at time of unbelievable challenge and need.Phil Buchanan
The Amazon stake of Scott acquired during her divorce was estimated at $58 billion. However, she pledged to donate almost everything to help fight social inequity.