Menu

TIME100 Philanthropy: MacKenzie Scott
📰
0

TIME100 Philanthropy: MacKenzie Scott

TIME·TIME·18 days ago
#ovsnD5FX
Reading 0:00
15s threshold

Receiving money from MacKenzie Scott is like winning the lottery, except hardly any recipients bought a ticket. Scott, whose wealth comes from the Amazon stock she received as part of her divorce from Jeff Bezos, has developed a novel method for giving away her billions. She and her team finds organizations that are unsexy but have competent leadership—community colleges, HBCUs and other minority-serving institutions have been favorites of late—and Scott gives them a no-strings-attached sum of money often large enough to be transformative but not so large as to overwhelm them.  So far she has given away $26 billion, and has $40 billion or so to go. Scott requires no follow up from recipients. There are zero buildings, plazas or endowed chairs named after her. She has declined to talk to the media, beyond the essay she writes each time she gives a new round of grants.…

Continue reading — create a free account

Join HashtagPLUS to read full articles, follow hashtags, vote, and join the conversation.

Read More