Jeff Bezos’ ex MacKenzie Scott donates $40M in – Business News
Jeff Bezos’ ex-wife MacKenzie Scott donated $40 million to a nonprofit devoted to the preservation of black historical past, doubling down on her DEI contributions.
Wednesday’s contribution marked the most important donation in the African American Cultural Heritage Action Fund’s historical past — and was twice the dimensions of a reward Scott gave the identical group in 2021.
Just days earlier, the 55-year-old philanthropist – who’s price $32.5 billion, based on Forbes – made a $42 million reward to 10,000 Degrees, which awards scholarships to low-income, principally non-white college students.
MacKenzie Scott donated $40 million to a nonprofit devoted to the preservation of African American historical past. Evan Agostini/Invision/AP
Scott’s latest contributions come because the Trump administration has sought to crack down on DEI packages all through the nation.
Since President Trump took workplace, a number of main firms – from Wall Street giants like JPMorgan Chase to retailers corresponding to Walmart and Bezos’ Amazon – have backtracked on such initiatives.
Scott, who has vowed to present away most of her fortune, has donated about $110 million particularly to DEI causes in the previous yr alone, based on Fortune magazine.
“The scale and impact of MacKenzie Scott’s continued investment in historic preservation is leaving an enduring mark on our nation’s history, and we are grateful for her philanthropic leadership,” Brent Leggs, government director of the the African American Cultural Heritage Action Fund, stated in a Wednesday assertion.
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The group, which is a component of the National Trust for Historic Preservation, launched in 2017. It’s the most important nonprofit devoted to the preservation of websites related to black historical past in the US.
To date, it has raised practically $200 million and supported more than 378 preservation initiatives, together with church buildings, museums and houses.
In latest years, the fund has invested hundreds of thousands in historic black church buildings just like the New Bethel Baptist Church in Detroit, Mich., which was commissioned in 1961 by Aretha Franklin’s father, Rev. CL Franklin.
Scott has donated more than $19 billion since her 2019 divorce from Amazon founder Jeff Bezos. REUTERS
The fund additionally supported the restoration of the primary black cemetery in Houston, which dates back to 1875.
Scott has donated more than $19 billion since her 2019 divorce from the Amazon founder, which left her with about 4% of the company.
She has gained a fame for giving billions to small nonprofits with no circumstances and minimal reporting necessities, a huge distinction to her mega-rich friends who usually make high-profile donations to bigger charities.
Last yr, Scott donated $2 billion to 199 organizations, her Yield Giving web site said.
In the previous yr, she has reportedly slashed her stake in Amazon by about 42%, or $12.6 billion, based on a regulatory submitting considered by Bloomberg.
Despite trimming her stake over time, Scott has grown richer for the reason that divorce because the stock has soared about 150%.
