MacKenzie Scott, the philanthropist and ex-spouse of Amazon CEO and founder Jeff Bezos, announced a new round of donations Tuesday, totaling some $2.7 billion to 286 organizations around the U.S. She detailed her thought process and the list of recipients in a&nbsp;<a href="https://mackenzie-scott.medium.com/seeding-by-ceding-ea6de642bf" target="_blank" rel="noreferrer noopener">Medium blog post</a>.&nbsp;&nbsp;



“Sitting down to write this post, I felt stuck,” Scott writes. “I want to de-emphasize privileged voices and cede focus to others, yet I know some media stories will focus on wealth.” (Duly noted by us here at&nbsp;Forbes.) By&nbsp;<a href="https://www.forbes.com/profile/mackenzie-scott/?sh=b4d7725243d0">our estimate</a>, Scott’s fortune—after distributing the latest gifts—stands at $57 billion as of 10:30 am ET, which makes her the 22nd richest person in the world.&nbsp;



Scott says she wished she could have titled her post “286 Teams Empowering Voices the World Needs to Hear,” because she and her team are “attempting to give away a fortune that was enabled by systems in need of change.” With that, Scott jumps into the&nbsp;<a href="https://www.nytimes.com/2021/06/13/opinion/warren-buffett-billionaire-taxes.html" target="_blank" rel="noreferrer noopener">billionaire debate</a>&nbsp;that’s long simmered amid recent explosive reporting by&nbsp;<a href="https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax" target="_blank" rel="noreferrer noopener">ProPublica</a>&nbsp;revealing that the world’s richest—including her ex-husband—pay very little in taxes relative to their wealth.



“We are governed by a humbling belief that it would be better if disproportionate wealth were not concentrated in a small number of hands, and that the solutions are best designed and implemented by others,” Scott writes. She says she focused her latest donations on higher education, groups bridging divides through interfaith support, arts and culture, anti-poverty organizations led by people of color and grassroots groups supporting local communities.



Scott didn&#8217;t disclose the specific dollar amount of each grant she made. But she did say that in total, she dispersed $2.739 billion. If the grants are equal in size, that means each of the 268 organizations received about $10 million. One recipient, the Children’s Defense Fund,&nbsp;<a href="https://www.childrensdefense.org/2021/childrens-defense-fund-receives-20-million-from-mackenzie-scott-and-dan-jewett/" target="_blank" rel="noreferrer noopener">says</a>&nbsp;they received $20 million, “the largest single contribution” in its history. Global health organization&nbsp;<a href="https://www.forbes.com/sites/kerryadolan/2018/03/12/backed-by-a-band-of-philanthropists-nonprofit-makes-dramatic-progress-in-reducing-childhood-deaths/?sh=36a9069a237e">Muso</a>&nbsp;received $15 million, likewise its largest donation to date, according to a press release. The BOMA Project, which aims to end poverty in rural Africa, received&nbsp;<a href="https://bomaproject.org/2021/06/15/philanthropist-mackenzie-scott-donates-10m-to-the-boma-project/" target="_blank" rel="noreferrer noopener">$10 million</a>.



Fascinating, though, are Scott’s donations to groups that enable philanthropic giving or aid. Like Kiva, which makes microloans. Or Give Directly, which gives cash to the very poor in African countries. Another recipient, the National Council of Nonprofits, told&nbsp;Forbes&nbsp;their unrestricted grant will help their work supporting tens of thousands of nonprofits across the country. “Grateful for the tremendous trust that MacKenzie and Dan [Jewett, her husband] have in our work does not even begin to describe how we are feeling today,” CEO and president Tim Delaney says.



In keeping with Scott’s stated belief of ceding control of money for the best results in disseminating wealth, she gave to the Decolonizing Wealth Project, which redistributes wealth to Black, Indigenous and other philanthropic initiatives led by people of color. A gift was also made to Homeboy Industries, a Los Angeles-based nonprofit that rehabilitates former gang members and helps them become contributing members of society.



Among Scott’s education recipients is DonorsChoose, a nonprofit that lets teachers crowdfund for their classrooms. Founder Charles Best told&nbsp;Forbes&nbsp;that Scott’s gift was “overwhelming,” and said her Tuesday blog post “will surely be cited as one of the most powerful philanthropic manifestos ever written.” Scott also donated to numerous colleges and universities.



Another recipient, Faith in Action, told&nbsp;Forbes&nbsp;they look forward to using their multi-million donation “toward continued investments in Black and Brown communities” as part of their mission to help people of religious faith work towards more just and equitable societies. “This gift is transformative for Faith in Action,” executive director, the Reverend Alvin Herring, says. “As we center the leadership of everyday folks who aren’t looking for the limelight, we are grateful to Ms. Scott for investing in organizations led by people directly impacted by the issues we care so deeply about.”



Arts organizations receiving funds include the legendary Apollo Theater in Harlem, the Alvin Ailey American Dance Theater, Jazz at Lincoln Center and the L.A. Arts Endowment Fund, among others.



Tuesday marks Scott’s third major round of donations. By&nbsp;Forbes’ estimate, she gave away&nbsp;<a href="https://www.forbes.com/sites/denizcam/2021/04/06/how-mackenzie-scott-gave-away-nearly-6-billion-last-year-and-ended-up-richer/?sh=4a551b4068cc">nearly $6 billion</a>&nbsp;in 2020 to 500 organizations. Scott is also a&nbsp;<a href="https://givingpledge.org/Pledger.aspx?id=393" target="_blank" rel="noreferrer noopener">signee</a>&nbsp;of the Giving Pledge, promising to give away half of her fortune to charitable causes during her lifetime, or after her death.

Axel Springer award ceremony

MacKenzie Scott Just Gave Away Another $2.7 Billion

TOPLINE Apple reported a profit of $23.6 billion in its second quarter, up twofold from a year ago, on record sales of $89.6 billion, blowing past analysts’ expectations as iPhone sales remained strong after a record end to 2020.



<h3 id="h-key-facts">KEY FACTS</h3>



<ul><li>Apple’s sales were up 53.7% jump from the same quarter last year, exceeding the $77.4 billion <a href="https://finance.yahoo.com/quote/AAPL/analysis?p=AAPL" target="_blank" rel="noreferrer noopener">expected by analysts</a>.</li></ul>



<ul><li>Net earnings were $1.40 per share, also well ahead of the consensus analyst expectation of 99 cents per share.</li></ul>



<ul><li>iPhone sales totaled $47.9 billion, accounting for 53% of Apple’s total revenue, far surpassing the $29 billion reported in the first quarter of 2020 and the $41.7 billion predicted by Wall Street analysts.</li></ul>



<ul><li>Revenue from services like iTunes and the App Store grew 27% to $16.9 billion, and sales of Mac computers, iPads and accessories like AirPods and watches also increased from last year.</li></ul>



<h3 id="h-crucial-quote">CRUCIAL QUOTE</h3>



“Success was broadly distributed across our product categories,” Apple CEO Tim Cook said in a Wednesday evening conference call.



<h3 id="h-key-background">KEY BACKGROUND</h3>



In the final three months of last year, Apple logged the&nbsp;<a href="https://www.forbes.com/sites/johnkoetsier/2021/01/27/apples-biggest-quarter-ever-all-the-insane-numbers/">best quarter</a>&nbsp;in its 45-year history, topping $100 billion in total sales and growing revenue for&nbsp;<a href="https://www.cnbc.com/2021/01/27/apple-aapl-earnings-q1-2021.html" target="_blank" rel="noreferrer noopener">virtually every product line</a>. Over&nbsp;<a href="https://www.apple.com/newsroom/pdfs/q4fy15datasum.pdf" target="_blank" rel="noreferrer noopener">the last</a>&nbsp;<a href="https://www.apple.com/newsroom/pdfs/Q1FY17DataSummary.pdf" target="_blank" rel="noreferrer noopener">decade</a>, iPhones have served as the Cupertino, Calif.-based company’s largest driver of revenue. Some&nbsp;<a href="https://www.forbes.com/sites/timbajarin/2020/11/01/will-5g-kick-off-a-smartphone-upgrade-supercycle/?sh=9fcbe876fd2b">observers</a>&nbsp;expected iPhone sales to remain fairly strong at the start of this year, as consumers continue&nbsp;<a href="https://www.wsj.com/articles/apple-aapl-2q-earnings-report-2021-11619572929" target="_blank" rel="noreferrer noopener">upgrading to pricier</a>&nbsp;5G-enabled smartphones. But the company has also&nbsp;<a href="https://www.apple.com/newsroom/pdfs/Q1FY17DataSummary.pdf" target="_blank" rel="noreferrer noopener">rapidly</a>&nbsp;<a href="https://www.apple.com/newsroom/pdfs/FY21%20Q1%20Consolidated%20Financial%20Statements.pdf" target="_blank" rel="noreferrer noopener">increased</a>&nbsp;the share of its revenue from online services, and sales have grown for accessories like watches and AirPods.



<h3 id="h-tangent">TANGENT</h3>



It’s&nbsp;<a href="https://www.forbes.com/sites/chuckjones/2021/04/28/the-two-most-important-numbers-in-apples-earnings-announcement/?sh=6df247e93b49">not unusual</a>&nbsp;for Apple’s revenue to drop significantly from the end of one year to the beginning of the next, as holiday shopping brings&nbsp;<a href="https://www.apple.com/newsroom/2021/01/apple-reports-first-quarter-results/" target="_blank" rel="noreferrer noopener">consumers into stores</a>&nbsp;and drives&nbsp;<a href="https://www.cnbc.com/2021/01/06/apple-app-store-customers-spent-record-540-million-on-new-years-day.html#:~:text=On%20top%20of%20that%2C%20Apple,for%20its%20Apple%20Books%20app." target="_blank" rel="noreferrer noopener">digital sales</a>.



<h3 id="h-further-reading">FURTHER READING</h3>



<a href="https://www.forbes.com/sites/chuckjones/2021/04/28/the-two-most-important-numbers-in-apples-earnings-announcement/?sh=6df247e93b49">The Two Most Important Numbers In Apple’s Earnings Announcement (Forbes)</a>



By Joe Walsh, Forbes Staff

Apple_announce-iphone12pro_10132020

Apple Profit Doubles On Record Revenue In Second Quarter As iPhone Sales Beat Expectations

The wealthiest women in the US have gotten even richer over the past year. Buoyed by a strong stock market and rising real estate prices, the combined net worth of the ten richest women on The Forbes 400 is $156.6 billion, up from $124.2 billion last year.
Altogether there are 48 women on this year’s Forbes 400 list of richest Americans, up from 45 last year. Newcomers include Elaine Marshall, who inherited a stake in private conglomerate Koch Industries from her late husband, and Anne Gittinger, granddaughter of the co-founder of Nordstrom  department stores.
Another new woman is a longtime Forbes 400 member: James Pritzker, a former lieutenant colonel in the army and an heir to the extended Chicago Pritzker family fortune, announced in August that she will now be known as Jennifer Pritzker. That makes her the first transgender billionaire. Pritzker runs the Pritzker Military Library in Chicago.
<div id="attachment_5799" style="width: 310px" class="wp-caption alignleft"><img aria-describedby="caption-attachment-5799" decoding="async" loading="lazy" class="size-medium wp-image-5799" src="/wp-content/uploads/2017/05/006-Lauren-Powell-Jobs-300x200.jpg" alt="" width="300" height="200" />Lauren Powell Jobs</div>
The wealthiest woman in America, Christy Walton, is also the world’s richest woman, with a net worth Forbes pegs at $35.4 billion. Walton inherited a stake in retailer Wal-Mart and a chunk of stock in solar firm First Solar FSLR -1.23% when her husband, John Walton, died in a plane crash in 2005.
Walton ranks 6th on The Forbes 400 list. She leads a very private life in Jackson, Wyoming but in August had a rare bit of publicity when was given an award by the Imagen Foundation for producing the film Bless Me, Ultima, based on the book by Rudolfo Anaya, who is considered the father of Chicano literature. Walton, aged 59, has faced a number of difficulties in her life in addition to her husband’s death. Her son – her only child – battled cancer when he was just three years old and she fought a case of pneumonia that nearly killed her, according to the Imagen Foundation.
America’s second-richest woman is Alice Walton, sister-in-law of Christy Walton and daughter of Wal-Mart founder Sam Walton. Forbes puts her net worth at $33.5 billion, a fortune mostly comprised of stock she inherited in Wal-Mart and her art collection. She ranks 8th on The Forbes 400. Alice Walton opened the Crystal Springs Museum of American Art in Bentonville, Arkansas in 2011, and it has proved to be a popular attraction, already clocking 1 million visitors.
<div id="attachment_5801" style="width: 310px" class="wp-caption alignleft"><img aria-describedby="caption-attachment-5801" decoding="async" loading="lazy" class="size-medium wp-image-5801" src="/wp-content/uploads/2017/05/004-Abigain-Johnson-300x229.jpg" alt="" width="300" height="229" />Abigain Johnson</div>
Laurene Powell Jobs, the widow of Apple founder Steve Jobs, ranks 35th on The Forbes 400. She is the richest woman in Silicon Valley and is the 6th richest woman on the list, with a net worth of $11.7 billion.
Women still make up a minority of The Forbes 400 richest – just 12% of this elite group. Most of the women inherited their fortunes; only seven of the 45 started their own businesses or co-founded them with their husbands.
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MacKenzie Scott Just Gave Away Another $2.7 Billion

Apple Profit Doubles On Record Revenue In Second Quarter As iPhone Sales Beat Expectations

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