Collette Garris

Written by Collette Garris

Published: 26 Dec 2024

40-facts-about-mackenzie-scott
Source: Finance.yahoo.com

Who is MacKenzie Scott? MacKenzie Scott, born MacKenzie Tuttle on April 7, 1970, in San Francisco, California, is a renowned philanthropist, author, and businesswoman. Known for her substantial contributions to various charitable causes, Scott has donated over $17 billion to non-profit organizations since 2020. She played a crucial role in the early days of Amazon, which she co-founded with her then-husband Jeff Bezos. After their divorce in 2019, Scott received a 4% stake in Amazon, significantly boosting her net worth. Beyond her financial success, she has made a lasting impact through her generous and strategic philanthropic efforts.

Key Takeaways:

  • MacKenzie Scott, co-founder of Amazon, is a prolific philanthropist who has donated over $17 billion to various causes, focusing on racial equality, LGBTQ+ equality, democracy, and climate change.
  • MacKenzie Scott's novels and philanthropy have made her a powerful force in the literary world and a trailblazer in philanthropy, setting a new standard for mega-donors with her unrestricted, impactful gifts.
Table of Contents

Early Life and Education

MacKenzie Scott's journey began in San Francisco, California, where she was born on April 7, 1970. Her early years were marked by a blend of privilege and challenges that shaped her future endeavors.

  1. Early Life and Education: MacKenzie Scott grew up in a privileged family in the San Francisco area. Her father was a successful financial planner, and her mother stayed home to raise their three children.

  2. Family Background: The family had homes in the expensive Pacific Heights neighborhood of San Francisco and in the exclusive enclave of Ross, north of the city.

  3. Love of Writing: Scott developed a love for writing at an early age. She recalled writing a 142-page novel at age six titled The Bookworm, which she described as “a chapter book about the adventures of a worm who loved to read.”

  4. Education: Scott attended the Hotchkiss boarding school in Lakeville, Connecticut. Her classmates remembered her as humble and disciplined. Despite her family's financial struggles after her father declared bankruptcy, she was able to complete her studies in three years instead of four and graduated in 1987.

Career and Role in Amazon

Before becoming a renowned philanthropist, MacKenzie Scott played a significant role in the early days of Amazon, a company she co-founded with her then-husband Jeff Bezos.

  1. Career Before Amazon: Before co-founding Amazon, Scott worked at D.E. Shaw, a financial services firm. She left her job in July 1994 to move to Seattle with her then-husband Jeff Bezos.

  2. Founding of Amazon: In July 1994, Scott and Jeff Bezos moved to Seattle and founded an online bookselling company called Cadabra. They later changed the name to Relentless before settling on Amazon.

  3. Role in Early Amazon: In the early days of Amazon, Scott played an integral role in the business. She handled bookkeeping, wrote checks, and oversaw freight contracts. Her contributions were crucial in the company's early years.

Philanthropy and Donations

MacKenzie Scott is widely recognized for her generous philanthropic efforts, donating billions to various causes and organizations.

  1. Name Change: After her divorce from Jeff Bezos in 2019, Scott began using her middle name, Scott, as her surname.

  2. Net Worth: As of December 2024, MacKenzie Scott has a net worth of $42.1 billion, according to Bloomberg Billionaires Index. She owns a 4% stake in Amazon.

  3. Philanthropy: Scott is a prolific philanthropist who has donated over $17 billion to non-profit organizations since 2020.

  4. Philanthropic Focus: Her donations focus on racial equality, LGBTQ+ equality, democracy, and climate change. She has also supported historically black colleges and universities (HBCUs), Hispanic-serving institutions, tribal colleges and universities, and other colleges.

  5. Donations in 2020: In July 2020, Scott announced that she had donated $1.7 billion to 116 non-profit organizations. This was followed by another $4.15 billion in donations to 384 organizations in the following four months.

  6. COVID-19 Response: Scott's donations in 2020 were significantly influenced by the COVID-19 pandemic. She wanted her advisory team to give away her wealth faster as the United States struggled with the pandemic's economic impact.

  7. Donation to California Community Foundation: In 2020, Scott donated $55 million to the California Community Foundation. The organization intended to use the funds for affordable housing initiatives and an immigrant integration program.

  8. Donation to Girl Scouts of the USA: In October 2022, Scott donated $84.5 million to the Girl Scouts of the USA and its 29 local councils. This was the largest donation from an individual in the organization’s history.

  9. Total Donations as of November 2022: As of November 2022, Scott had donated almost $14 billion to 1,500 organizations.

  10. Open Call for Grants: In March 2023, Scott announced an "open call" for community-focused nonprofits with annual budgets between $1 and $5 million. She planned to make unrestricted $1 million donations to 250 nonprofits selected in the process.

  11. Grant Selection Process: The open call for grants prompted 6,000 applicants. The result was announced on March 19, 2024, with Scott donating $640 million to 361 small nonprofits. This included 279 non-profits receiving $2 million each and 82 groups receiving $1 million each.

  12. Donations in 2023: In 2023, Scott donated nearly $2.2 billion to 360 organizations supporting early learning, access to affordable housing, race and gender equity, health equity, and civic and social engagement.

  13. Hawaii Community Foundation Donation: Scott donated $5 million to the Hawaii Community Foundation. The foundation intended to use 75% of the donation to fund the Maui Strong Fund, a fund created to support the long-term recovery from Maui wildfires.

  14. Total Donations as of December 2023: As of December 2023, Scott had donated more than $16 billion to non-profit organizations.

  15. Total Donations as of March 2024: By March 2024, Scott's donations had reached $17.2 billion.

  16. Largest Contribution to LISC: In November 2024, Scott donated $65 million to the Local Initiatives Support Corporation (LISC), the largest contribution in LISC’s 45-year history. This was her second grant to LISC, building on a $40 million gift in 2020.

  17. Impact on Philanthropy: Scott’s large, unrestricted gifts have had a profound effect on the aspirations and financial viability of the organizations that received them. Her approach differs significantly from other mega-donors, emphasizing the daily service of people who are less fortunate.

Literary Achievements

Beyond her philanthropic efforts, MacKenzie Scott has also made her mark in the literary world with her novels and awards.

  1. Equality Can’t Wait Challenge: In June 2020, Scott launched the Equality Can’t Wait Challenge, a philanthropy dedicated to promoting gender equality, along with Melinda Gates and others.

  2. Diverse Charitable Giving: Scott’s charitable giving in 2022 was highly diverse, aiding organizations such as Habitat for Humanity, Planned Parenthood, Big Brothers Big Sisters, and various organizations in Kenya, India, Brazil, and Micronesia.

  3. American Book Award: In 2006, Scott won an American Book Award for her debut novel The Testing of Luther Albright, which traces the travails of a dam engineer and his family.

  4. Second Novel: In 2013, Scott published her second novel Traps, a suspenseful tale about how the lives of four women intersect over four days.

  5. Traditional Publishing: Despite Amazon’s own publishing imprints, Scott’s books were published with traditional publishing houses. According to BookScan, her novels have sold only a few thousand print copies.

Personal Life and Recognition

MacKenzie Scott's personal life and recognition in various fields highlight her multifaceted personality and contributions.

  1. Divorce from Jeff Bezos: The Bezoses’ marriage was struggling by 2018 due to “diverging appetites for public attention,” especially after Amazon opened a Hollywood studio and began film production. The couple announced their decision to divorce with a joint post on Twitter on January 9, 2019.

  2. Recognition: Scott was named in the list of world's 100 most powerful women by Forbes in 2023 and 2021. She was also included in Time's 100 most influential people in 2020.

  3. Net Worth in July 2024: As of July 2024, Scott had a net worth of $37 billion, making her the 43rd richest person in the world and the fourth richest woman in the United States.

  4. Amazon’s Valuation: As part of their 2019 divorce settlement, Scott received a 4% stake in Amazon. The company’s valuation topped $2 trillion in 2024.

  5. Philanthropic Team: Scott’s advisory team focuses on giving away her wealth quickly to address systemic inequities and support those affected by the COVID-19 pandemic.

  6. Donation to Habitat for Humanity: Scott has supported Habitat for Humanity, an organization that provides affordable housing to low-income families.

  7. Donation to Planned Parenthood: She has also supported Planned Parenthood, an organization that provides reproductive health services.

  8. Donation to Big Brothers Big Sisters: Scott has donated to Big Brothers Big Sisters, an organization that provides mentorship to children.

  9. International Donations: Her charitable giving extends internationally, supporting organizations in Kenya, India, Brazil, and Micronesia.

  10. Philanthropic Approach: Scott’s philanthropic approach emphasizes unrestricted gifts to organizations that provide direct services to people in need. She values the daily service of people who are less fortunate and supports organizations dedicated to helping others.

  11. Legacy in Philanthropy: MacKenzie Scott’s philanthropic efforts have set a new standard for mega-donors, demonstrating the impact of large, unrestricted gifts on the financial viability and aspirations of non-profit organizations. Her legacy in philanthropy continues to inspire and influence future generations of donors.

MacKenzie Scott's Impact

MacKenzie Scott's journey from a young writer to a major philanthropist is nothing short of inspiring. Her early contributions to Amazon laid the groundwork for one of the world's largest companies. Yet, it's her philanthropic efforts that truly set her apart. With over $17 billion donated to various causes, Scott has made a significant impact on racial equality, education, and climate change. Her approach of giving large, unrestricted gifts has revolutionized how we think about charity. Scott's legacy isn't just in her wealth but in how she uses it to make the world a better place. Her story reminds us that with great resources comes great responsibility. As she continues to support countless organizations, Scott's influence will undoubtedly be felt for generations to come. Her dedication to helping others is a beacon of hope in today's world.

Frequently Asked Questions

Who is Mackenzie Scott?
Mackenzie Scott, formerly known as Mackenzie Bezos, is a novelist, philanthropist, and ex-wife of Amazon founder Jeff Bezos. She's made headlines not just for her divorce but also for her commitment to giving away a significant portion of her wealth to various charitable causes.
How did Mackenzie Scott acquire her wealth?
Her fortune primarily comes from her divorce settlement with Jeff Bezos. In 2019, they finalized their divorce, where she received a 4% stake in Amazon, making her one of the wealthiest women in the world.
What kind of philanthropic work has Mackenzie Scott done?
Since her divorce, Scott has been on a giving spree, donating billions of dollars to various organizations and causes. Her focus areas include racial equality, LGBTQ+ rights, public health, and climate change. She's known for her no-strings-attached donations, allowing organizations to use the funds as they see fit.
How does Mackenzie Scott choose the organizations she donates to?
Scott and her team conduct thorough research to identify organizations that are effective, underfunded, and poised for impact. She prefers entities that can demonstrate significant positive change and are often overlooked by traditional philanthropy.
Has Mackenzie Scott remarried?
Yes, in March 2021, news broke out that Mackenzie Scott married Dan Jewett, a science teacher from Seattle. This marriage marked a new chapter in her life, with Jewett also expressing a commitment to help with her philanthropic efforts.
What is Mackenzie Scott's approach to philanthropy?
Unlike many philanthropists, Scott opts for a low-profile, unrestricted funding approach. She believes in the power of organizations to know best how to allocate resources, thus providing them with full autonomy over the donated funds.
Can organizations apply for donations from Mackenzie Scott?
Scott's donations are typically unsolicited, meaning organizations cannot apply for them. Instead, her team reaches out directly to the chosen organizations after conducting their own research and due diligence.
What impact have Mackenzie Scott's donations had?
Her contributions have had a profound impact, allowing recipient organizations to expand their services, fund long-term projects, and in some cases, secure their future. Scott's philanthropy has been praised for its transformative potential, especially for smaller, less-visible organizations.

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