Billionaire philanthropist MacKenzie Scott made headlines this week with her generous donation of $640 million to 361 small nonprofits that responded to an open call for applications. Here’s what you need to know about this remarkable act of philanthropy:

Who is MacKenzie Scott?

MacKenzie Scott is a prominent philanthropist, author, and the former wife of Amazon founder Jeff Bezos. Following their divorce in 2019, Scott received a 4% stake in the online retail giant, making her one of the wealthiest individuals globally. In 2019, she signed the Giving Pledge, committing to donate the majority of her wealth to charitable causes.

A History of Giving

Since 2019, Scott has been actively giving away her fortune, with a total donation amounting to $16.5 billion to date. Her approach to philanthropy emphasizes providing large, unrestricted gifts to organizations selected through careful research and evaluation.

Yield Giving Initiative

Last year, Scott launched the Yield Giving initiative, which aims to support community-led nonprofits focusing on advancing opportunities for individuals and families with limited means. The initiative issued an open call for applications from nonprofits with annual budgets between $1 and $5 million.

Selection Process

A multilayered selection process was employed to choose the recipients of Scott’s generosity. Over 6,000 nonprofits applied for the $1 million grants, with 279 organizations receiving top scores from an external review panel and being awarded $2 million each. An additional 82 organizations received $1 million each in the second tier.

Impact and Future Directions

Scott’s open call for applications provides a rare opportunity for lesser-known organizations to receive substantial funding and recognition. By removing restrictions and reporting requirements, Scott empowers nonprofits to allocate funds according to their needs, fostering a new approach to philanthropy.

Redefining Philanthropy

MacKenzie Scott’s substantial donations and innovative approach to philanthropy are resh

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