“The pandemic has been a devastating ball in the lives of Americans who were already in trouble,” Scott wrote in a Medium post. “Economic losses and health outcomes have been worse for women, for people of color, and for people living in poverty. Meanwhile, the wealth of billionaires has increased substantially.”
Scott’s message included a list of the hundreds of organizations that received funding, including financial service providers for low-income communities, education for historically marginalized and underserved people, civil rights groups, and advocacy funds. who assume institutional discrimination.
Scott, philanthropist and author, in addition to the ex-wife of Amazon (AMZN)founder Jeff Bezos, noted that his team examined more than 6,490 organizations to determine which groups would receive donations after their decision to accelerate the pace of their donations this year.
The process combined the data with the “suggestions and perspectives of field experts, funders and nonprofit leaders and volunteers with decades of experience.”
In the last round of donations, Scott donated $ 40 million to Morgan State University, a Baltimore-based HBCU, along with gifts to other HBCUs, including Claflin, Virginia State and Dillard University.
The Morgan State gift is the largest private donation in college history and the second largest donation to any public university in Maryland, according to the school. The gift doubles the school’s endowment, which in 2017 totaled about $ 33 million. Endowments for HBCU tend to be smaller compared to other institutions due to an uneven funding history.
Other organizations on the list included the local chapters of Goodwill, Meals on Wheels, YMCA, and United Way; the NAACP; World Fund for Women; and ACE (Access to Capital for Entrepreneurs), which provides affordable loans to small, underserved businesses.
“We are doing this research and deeper diligence not only to identify organizations with great impact potential, but also to pave the way for unsolicited and unexpected gifts given with full confidence and without any ropes,” Scott said in the message. “Because our research is data-driven and rigorous, our donation process can be humane and smooth.”
Scott is the richest person in the world with a net worth of $ 60.7 billion, according to the Bloomberg Billionaires Index. His is a fortune that has increased D’Amazon (AMZN) stocks have risen in the pandemic. Scott received a quarter of Amazon shares of Bezos after the 2019 divorce.
Last year, Scott committed to the Giving Pledge initiative. Launched by Warren Buffett and Bill and Melinda Gates, the program encourages the richest people in the world to donate a large portion of their fortunes to charitable causes.
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