MacKenzie Scott estimated to have given away $14 billion, half her wealth, in three years 

 

Shafi Musaddique

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US philanthropist Mackenzie Scott is estimated to have given away more than $14 billion over the last three years, approximately half her wealth. 

According to a Chronicle of Philanthropy calculation, 17 nonprofits have announced donations from Scott’s Yield Giving Fund this year, with gifts ranging from $1 million to $15 million.  

An estimated $97 million has been given away this year so far. 

At least 1,621 charities have received funding from Scott since 2020, though this number is believed to be higher considering Scott has stopped announcing gifts and now leaves it up to recipients as to whether they would like the source of their contributions announced publicly.  

“It was in our best interest to announce this donation and to share the victory with our peers in the movement,” says Sean McCarthy, a manager of donor relations at the National Housing Trust in the US, a recipient of a $10 million gift from Scott, its largest donation to date. “We view this gift as a vote of confidence.” 

Almost half of Scott’s gifts have gone to early childhood education and development causes 

Deciding whether to publicise can weigh on the minds of recipients.  

Patricia Lozano, executive director of Early Edge California, an early-childhood education advocacy group, wanted to publicise a $3 million gift the organisation received this year. 

“It was a recognition of our work and all our successes. Our work is very specifically around advocacy, so we thought it would be a good thing for us to show our funders and possible partners that we’re trusted and recognised,” Lozano told Fortune Magazine.  

The Casa Fund expanded its resources across Brazil to protect the Atlantic Forest with donations from Scott in July. 

Cristina Orpheo, Executive Director of Casa Fund described Scott’s way of donating as “inspiring, as it is based on informed trust.” 

Scott also announced a $250 million open call to community-focused charities in March to apply to Yield Giving for grants and plans to give $1 million apiece to 250 charities. 

Shafi Musaddique is a news editor at Alliance magazine.

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