MacKenzie Scott, billionaire author and philanthropist, has reached a staggering milestone in her philanthropic journey. In a blog post this week, she revealed that she had donated another $2 billion in 2024, bringing her total giving since 2019 to $19.2 billion.
Scott also shared new details about how she is managing her wealth, explaining that she has directed her advisors to invest her resources into mission-aligned ventures. Instead of withdrawing funds from traditional stock portfolios or bank accounts, Scott’s approach focuses on for-profit solutions addressing challenges such as economic security and opportunity.
Most of Scott’s wealth originates from her shares in Amazon, which she received during her divorce from founder Jeff Bezos. Even after years of significant donations, her current net worth is estimated at $31.7 billion, underscoring the immense scale of her giving and the resources still available to her.
A Focus on Poverty and Economic Security
MacKenzie Scott’s giving has increasingly centered on poverty alleviation and economic security. Experts in the nonprofit sector have noted her growing impact in these areas. Her method of providing unrestricted, trust-based grants has reshaped philanthropy, with over 2,450 nonprofits benefiting from her generosity. These large, flexible donations allow organizations to address their unique needs without restrictions or conditions.
In 2024, Scott introduced a new dimension to her giving by awarding repeat donations to several organizations. Notable beneficiaries include CAMFED, which supports girls’ education in Africa, and Undue Medical Debt, previously known as RIP Medical Debt. Both organizations received their third grants from Scott this year.
Shaun Donovan, CEO of Enterprise Community Partners, an affordable housing organization, was surprised to receive a second major donation. Donovan recalled receiving a call informing him that his organization would be awarded $65 million. This came after an earlier $50 million donation in 2020. He emphasized that Scott’s team advises grantees not to expect additional funding, making repeat donations an unexpected but impactful development.
Donovan advised organizations receiving grants to avoid using the funds for operating expenses that might create future budget shortfalls. Instead, he recommended treating the donations as opportunities to make strategic, long-term investments in their missions.
Transforming Sectors Through Large-Scale Giving
MacKenzie Scott’s contributions have been transformative not just for individual organizations but for entire sectors. Experts say her giving has fundamentally changed fields like affordable housing, creating ripple effects that extend far beyond the immediate beneficiaries. Her unrestricted grants give nonprofits the flexibility to address pressing issues, innovate, and expand their reach.
This year marked another first for Scott’s philanthropy, as she conducted an open call for grant applications. In March, she announced the recipients of this process, awarding a total of $640 million to over 360 nonprofits. The application process, managed by Lever for Change, attracted an overwhelming response, with 6,353 nonprofits applying for unrestricted grants.
Ultimately, 279 organizations received $2 million each, while 82 organizations were awarded $1 million each. This shift toward an application-based model allowed more nonprofits to participate and benefit from her generosity.
Redefining Philanthropy
Scott’s approach to philanthropy, often referred to as trust-based giving, has set a new standard for how megadonors can operate. Unlike traditional philanthropic models that often come with strict conditions and oversight, her strategy prioritizes empowering organizations to use the funds as they see fit.
Her impact has been felt across diverse sectors, from economic security to affordable housing and girls’ education. Experts highlight her role in demonstrating how large-scale giving can be both effective and efficient. However, while Scott’s giving has created a model for other philanthropists, few have matched her pace or scale.
Five years into her philanthropic efforts, MacKenzie Scott has not only reshaped the nonprofit landscape but also inspired new possibilities for addressing social challenges. As she continues to give at an unprecedented rate, the long-term effects of her generosity are already transforming lives, organizations, and entire fields.
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