MacKenzie Scott has outdone her ex-husband’s lifetime giving in just two years since their divorce, making her one of the world’s most generous philanthropists. Scott has donated a sizable percentage of her income to philanthropic organisations with an emphasis on problems like gender equality, racial justice, and public health. This article analyses Scott’s philanthropic activities in detail, contrasts them to Jeff Bezos’ donations, and considers Scott’s giving philosophy’s prospective effects.
Credits:
Cover Image Source: (L)Jeff Bezos on September 20, 2021, in New York City. (Photo by Michael M. Santiago/Getty Images) (R)MacKenzie Bezos on March 4, 2018, in Beverly Hills, California. (Photo by Dia Dipasupil/Getty Images)
MacKenzie Scott’s Philanthropy:
An Instantaneous and Important Contribution MacKenzie Scott has vowed to donate an extraordinary amount of her riches. She has given more than $8.6 billion in donations in less than two years, which makes up more than 14% of her $53.5 billion current net worth. Around 780 charitable organisations, from those working for racial and gender justice to public health programmes, have benefited from her contributions.
Jeff Bezos’ Lifetime Giving:
A Different Strategy Jeff Bezos has donated to charity in a more deliberate manner than Scott, who has done so quickly. Over the course of his life, he has given away about $2.1 billion, or slightly over 1% of his $184.8 billion in wealth. Bezos has mostly concentrated on long-term commitments and made large financial pledges to causes like combating climate change. Even though he has stated that he will provide over $13 billion, these money are frequently dispersed gradually over time.
The Bezos Earth Fund:
A Notable Commitment Bezos’ $10 billion vow to fight climate change through the Bezos Earth Fund is one significant example of his generosity. Bezos has only publicly contributed $1234 million to the fund as of yet. Despite his significant devotion, his charitable actions may not have as much of an instant impact due to the gradual distribution of donations.
MacKenzie Scott’s Selection of Grassroots and Hyperlocal Organizations
Unlike Bezos who frequently gave to well-known organisations, Scott has chosen a different strategy. She places a high priority on grassroots and hyperlocal community organisations with the intention of empowering individuals who work to bring about change in their local areas. Scott wants to help people and organisations that empower others because she thinks it is bad for a small number of people to hold an excessive amount of wealth.
Impact and Implications of Scott’s Philanthropy
The neighbourhood could experience tremendous change as a result of Scott’s contributions. She supports programmes that address urgent issues and directly affect people’s lives by concentrating on grassroots organisations. Her strategy puts the conventional charity paradigm to the test and emphasises how crucial local community involvement is to bringing about long-lasting change.
Jeff Bezos’ Donations in 2021: A Shift in Giving Strategy
The highest donation Bezos has made since Amazon went public in 1997 totaled $1 billion and was revealed in 2021. These donations go to nonprofits that assist homeless families as well as environmental organisations and the foundation of the late President Barack Obama. While this shows a change towards more significant and quick giving, it is unknown whether this tendency will remain in the future.
Conclusion:
In just two years, MacKenzie Scott has outdone the lifetime donations of her ex-husband Jeff Bezos. Scott’s method departs dramatically from Bezos’ charitable approach, which favours well-established institutions and tends to favour grassroots organisations. The emphasis Scott places on local communities and quick effects has the ability to result in good and noticeable change. Their various strategies demonstrate the various ways that wealth may be used to address societal concerns and make a difference, even while both philanthropists continue to make significant contributions to worthwhile causes.