Three years ago, MacKenzie Scott was an author, wife, and mother of four who&#8217;d started an anti-bullying group and, in the 90s, helped her husband launch Amazon. She kept a low profile—but then she divorced Jeff Bezos, got a quarter of his Amazon stake and almost immediately started planning how to give it all away. “I have a disproportionate amount of money to share,” she<a href="https://givingpledge.org/Pledger.aspx?id=393" target="_blank" rel="noreferrer noopener">&nbsp;wrote</a>&nbsp;in May 2019 when she signed the Giving Pledge, promising to give away at least half her wealth to charitable causes. “I will keep at it until the safe is empty.”&nbsp;&nbsp;



Scott has not only begun to make good on her word, but she’s doing so at a record pace and with total control over where her money goes: In a little more than two years, Scott, who is worth $57 billion, has given $8.6 billion to 780 organizations promoting issues including gender equity, racial justice, public health and beyond.&nbsp; She has done so without an office or even a mailing address, and with scant evidence of a full-time staff. Instead she works with her husband Dan, researchers and advisers from nonprofit consulting firm Bridgespan. She answers to no one, has no board of directors (that we know of) and, because she’s not making gifts through a charitable foundation, no reporting requirements, either. (In comparison, the Gates Foundation, which has nearly 1,800 employees, made $5.8 billion in grants in 2020. Scott distributed slightly more than $5.8 billion that year.)&nbsp;



And, crucially, she employs a “no-strings attached” giving philosophy, meaning each organization can use the funds however they see fit. “It empowers receivers by making them feel valued and by unlocking their best solutions,”&nbsp;<a href="https://mackenzie-scott.medium.com/seeding-by-ceding-ea6de642bf" target="_blank" rel="noreferrer noopener">Scott wrote on Medium in June</a>.



“A gift like this for a nonprofit is equivalent to a billion dollars,”<a href="https://www.forbes.com/sites/lisettevoytko/2021/07/07/inside-mackenzie-scotts-no-strings-attached-philanthropy-i-was-in-tears/?sh=78acb27d5bb6">&nbsp;Accion Opportunity Fund chief executive Luz Urrutia told&nbsp;Forbes</a>&nbsp;in July. (Accion is a&nbsp;<a href="https://www.forbes.com/advisor/business-loans/best-small-business-loans/">small business loan</a>&nbsp;provider in California focusing on women and Black-owned businesses; it&nbsp; received $15 million from Scott this year.)



Whether or not a $15 million gift is truly equivalent to $1 billion is up for debate, but there is no doubt that Scott is single handedly upending the model of how billionaires give away fortunes while supporting causes that look to disrupt the status quo and promote social justice. She is also questioning the system that put her into this position of power. “We are all attempting to give away a fortune that was enabled by systems in need of change,” she said this summer.



<blockquote class="wp-block-quote is-style-large is-layout-flow wp-block-quote-is-layout-flow">I have a disproportionate amount of money to share. I will keep at it until the safe is empty.<cite>MacKenzie Scott</cite></blockquote>



At a time when billionaires like her ex-husband are blasting off to space, Scott is using her massive fortune to not only support nonprofits doing good work, but also to challenge the way wealth and power is accumulated in this country.



“Putting large donors at the center of stories on social progress is a distortion of their role,” Scott wrote in the June post.&nbsp; “In this effort, 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.”



Many of the world’s most powerful women still have to answer to someone else. In the case of U.S. Vice President Kamala Harris, it’s her boss, President Joe Biden. The president of the European Central Bank, Christine Lagarde, who is elected by leaders of the European Union, has an executive board (and governing council) tempering her decision-making process. Even Melinda French Gates, now a billionaire in her own right following her divorce from Microsoft cofounder Bill Gates, leads the Gates Foundation alongside her ex—but has stated that if they can’t get along over the next two years, she will be the one who steps down from the foundation. Meanwhile, Scott has no such restraints.&nbsp;



For these reasons, Forbes has named Scott the world’s most powerful woman for the first time ever. She takes the place of Germany’s longtime chancellor Angela Merkel, who is retiring from public office. Merkel held the top spot for 15 of the last 17 years Forbes has been publishing this ranking; the only years she wasn’t number one were 2004, a year before she became chancellor and when then-Secretary of State Condoleezza Rice was on top, and 2010, when then-First Lady Michelle Obama was recognized.



“My hope is that MacKenzie’s style of giving inspires the philanthropic sector, and inspires other donors to give in a way that supports bold, big visions,”&nbsp;<a href="https://www.forbes.com/sites/lisettevoytko/2021/07/07/inside-mackenzie-scotts-no-strings-attached-philanthropy-i-was-in-tears/?sh=78acb27d5bb6">says</a>&nbsp;Favianna Rodriguez, who works to aid communities of color in Oakland, California. “We don&#8217;t have a lot of time. We&#8217;re looking at the crisis of the epidemic, the economic crisis, the climate crisis, and this moment of racial reckoning.”



With $57 billion still to give away, Scott has big plans to continue to affect real change and have a lasting impact on the historically underfunded and overlooked. As she puts it: “Generosity is generative. Sharing makes more.”



By Maggie McGrath, Forbes Staff



<a href="http://www.forbes.com/pictures/61a8ee4f94660f9f053925cb/the-worlds-most-powerful/"></a>

Axel Springer award ceremony

Why MacKenzie Scott Is The World’s Most Powerful Woman

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.

MacKenzie Scott Just Gave Away Another $2.7 Billion

<a href="https://www.forbes.com/profile/mackenzie-scott/?sh=3f994da8243d">MacKenzie Scott</a>&nbsp;— the ex-wife of Jeff Bezos — announced Tuesday that she’s donated more than $4.1 billion over the past four months to nearly 400 organizations helping fulfill basic needs for many Americans struggling in the pandemic.



“This pandemic has been a wrecking ball in the lives of Americans already struggling,” Scott writes. “Economic losses and health outcomes alike have been worse for women, for people of color, and for people living in poverty. Meanwhile, it has substantially increased the wealth of billionaires.”



Scott, who received one-quarter of her ex-husband’s Amazon stock in their divorce settlement in 2019, is the third richest woman in the world, behind L’Oreal heir&nbsp;<a href="https://www.forbes.com/profile/francoise-bettencourt-meyers/?list=rtb/&amp;sh=438656d52b06">Francoise Bettencourt Meyers</a>&nbsp;and Walmart heir&nbsp;<a href="https://www.forbes.com/profile/alice-walton/?list=rtb/&amp;sh=1d36b6614eb2">Alice Walton</a>. Scott is worth an estimated $55.1 billion, according to&nbsp;Forbes’&nbsp;calculations, after taking into account her newest charitable giving.



In a&nbsp;<a href="https://medium.com/@mackenzie_scott/384-ways-to-help-45d0b9ac6ad8" target="_blank" rel="noreferrer noopener">post on Medium</a>, Scott, a novelist, said she and her team had vetted hundreds of organizations in recent months and ultimately donated $4.158 billion to 384 groups, which she named and linked to in her post. Recipients include community colleges and universities like Blackfeet Community College in Montana; food banks and meal providers like Feeding America, America’s Second Harvest and Meals on Wheels; and many individual YMCAs and YWCAs.



Scott also says that her gifts to these organizations are unrestricted, meaning that were not earmarked for certain initiatives. That allows the recipients to use the money however they best see fit.



“Not only are non-profits chronically underfunded, they are also chronically diverted from their work by fundraising, and by burdensome reporting requirements that donors often place on them,” she writes. By freeing nonprofit groups of that burden, she hopes the organizations can focus on their primary work —meeting the needs of those they serve.&nbsp;



That sits particularly well with YMCA of the USA, which received a $20 million donation from Scott. Local YMCAs received additional donations. Many YMCAs have been providing childcare to families of first responders and essential workers during the pandemic. But the YMCA says it’s faced a revenue drop of $1 billion across the organization since the pandemic started. So the gift is much needed.



“We are incredibly grateful to MacKenzie Scott for her generous gifts made to 43 YMCA associations and YMCA of the USA,” said Kevin Washington, president and CEO, YMCA of the USA. “Ms. Scott’s gifts are a testament to the trust Ys have earned by meeting pressing social needs in the communities the Y serves across the country. These unrestricted funds are especially important to the work of Ys to support communities during the COVID-19 pandemic.”



In May 2019, Scott&nbsp;<a href="https://www.forbes.com/sites/daviddawkins/2019/05/28/mackenzie-bezos-will-donate-half-her-fortune-to-giving-pledge/?sh=c23098931d89">signed the Giving Pledge</a>&nbsp;— a promise to give away at least half of her fortune to charitable organizations&nbsp;either during her lifetime or after she dies. In July this year, Scott&nbsp;<a href="https://www.forbes.com/sites/angelauyeung/2020/07/28/mackenzie-bezos-announces-nearly-17-billion-in-charitable-giftsand-shes-changed-her-last-name/?sh=3ab8650b6dfb">announced</a>, also through a&nbsp;<a href="https://medium.com/@mackenzie_scott/116-organizations-driving-change-67354c6d733d" target="_blank" rel="noreferrer noopener">Medium post</a>, that she had donated nearly $1.7 billion to 116 charitable groups. It was her first large round of philanthropic giving. She also used the post to declare that she had changed her last name from Bezos to Scott (which was her middle name). Altogether, Scott’s announced gifts to charitable and nonprofit groups this year total $5.8 billion.&nbsp;



Jeff Bezos, still&nbsp;<a href="https://www.forbes.com/profile/jeff-bezos/?sh=16b6d9061b23">the world’s richest person</a>, has not signed the Giving Pledge, though he has stepped up his charitable giving this year. In April, he announced<a href="https://www.forbes.com/sites/angelauyeung/2020/04/02/jeff-bezos-announces-100-million-gift-to-nonprofit-feeding-america/?sh=ea02bb61818f">&nbsp;a $100 million gif</a>t to Feeding America, which works with food banks across the country. In February, Bezos&nbsp;<a href="https://www.forbes.com/sites/sergeiklebnikov/2020/02/17/jeff-bezos-pledges-to-fight-climate-change-with-10-billion-earth-fund/?sh=1220fb1523bc">pledged $10 billion</a>&nbsp;over an unspecified period of time toward solving climate change. As part of that pledge, in mid November he announced nearly<a href="https://www.forbes.com/sites/angelauyeung/2020/11/16/jeff-bezos-announces-nearly-800million-in-donations-to-climate-change-organizations/?sh=3b945e7d2b7b">&nbsp;$800 million in grants</a>&nbsp;to 16 groups working to fight climate change.



Editor’s note, 7:30 pm ET December 15, 2020: This post was updated to clarify that the $20 million donation from Scott went to YMCA of the USA, while local YMCAs received additional donations. The article previously incorrectly implied that the $20 million donation was split among all the YMCAs.



by Kerry A. Dolan, Forbes Staff

Tag: MacKenzie Scott

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