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MacKenzie Scott just showed what billionaires can really do with their money

MacKenzie Scott just showed what billionaires can really do with their money
[Photo: Jörg Carstensen/picture alliance via Getty Images]

MacKenzie Scott is reminding us how the 1% should be spending their money.

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Scott, the ex-wife of Amazon CEO Jeff Bezos, announced that she donated about $1.7 billion to multiple organizations related to racial inequality, LGBTQ+ rights, and climate change, among other issues. She posted the announcement on Medium after signing The Giving Pledge, a campaign to encourage billionaires to publicly give away a majority of their wealth to help society’s most pressing issues.

“I began work to complete my pledge with the belief that my life had yielded two assets that could be of particular value to others: the money these systems helped deliver to me, and a conviction that people who have experience with inequities are the ones best equipped to design solutions,” Scott said in her post.

Here’s her donation breakdown:

  • Racial Equity: $586,700,000
  • LGBTQ+ Equity: $46,000,000
  • Gender Equity: $ 33,000,000
  • Economic Mobility: $399,500,000
  • Empathy & Bridging Divides: $55,000,000
  • Functional Democracy: $72,000,000
  • Public Health: $128,300,000
  • Global Development: $130,000,000
  • Climate Change: $125,000,000

The groups she has donated to include the National Urban League, the Point Foundation, and multiple historically Black colleges and universities. Point Foundation recently released a statement thanking Scott for her contributions.

“Bezos’ support comes at a critical moment as we broaden and deepen our efforts to support LGBTQ students who are Black, Indigenous and people of color and LGBTQ students who are grappling with the COVID-19 pandemic, ” said Jorge Valencia, Executive Director and CEO of Point Foundation. The non-profit organization provides the nation’s largest scholarship fund for LGBTQ+ college students.

“Since colleges and universities began shuttering their campuses, our students have faced incredible challenges, from losing safe housing after campus closures to losing jobs and income. We know that LGBTQ young people are powerful and resilient and Bezos’ gift will allow us to help more LGBTQ young people pursue higher education and achieve their full potential as leaders in our society.”

Scott says she doesn’t plan on stopping here and will continue to donate to more organizations in the future.

So that only leaves one question: Will Jeff Bezos, the richest person in the world, follow her lead?

This post has been updated.

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