MacKenzie Scott, one of America's wealthiest philanthropists, announced $2 billion in new charitable donations for 2024, while revealing a strategic shift toward mission-aligned investments for her remaining fortune. The latest round of giving brings her total donations since 2019 to $19.2 billion, according to her Wednesday blog post on Yield Giving.
What Happened: Scott, who received approximately 400 million Amazon.com Inc. shares in her 2019 divorce settlement from founder Jeff Bezos, has recently sold 11% of her Amazon holdings, valued at over $8 billion. Despite her aggressive giving strategy, Forbes estimates her current wealth at $31.7 billion.
In a notable departure from traditional portfolio management, Scott disclosed that she has directed her investment advisors to focus on "mission-aligned ventures" rather than conventional stock portfolios that "increase the wealth and influence of leaders who already have it."
Why It Matters: Scott's 2024 grants have primarily targeted economic security and opportunity initiatives. Notable recipients include repeat grantees like CAMFED, supporting girls' education in Africa, and Undue Medical Debt (formerly RIP Medical Debt), marking a new pattern in her giving strategy.
Scott's continued liquidation of Amazon shares and her shift toward mission-aligned investments could signal broader trends in wealth management among ultra-high-net-worth individuals. Had she retained all her original shares, Scott's Amazon holdings alone would have made her an estimated worth of $88 billion.
Melinda French Gates, who maintains significant holdings in Microsoft Corp., has publicly supported Scott's rapid-giving approach while criticizing other tech billionaires for not doing enough to give back to society.
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