In the face of criticism from Elon Musk, MacKenzie Scott, Jeff Bezos’s former spouse, has declared her intention to donate $640 million to 361 organizations.
What Happened: The philanthropic organization Lever for Change is facilitating Scott’s donation, which is more than double the $250 million she committed last year, as reported by Business Insider. The organization disclosed that 279 nonprofits will receive $2 million each, while the remaining 82 will get $1 million each.
Scott’s announcement follows Musk’s now-deleted critique of her philanthropic activities. Musk had written on X, “Super rich ex-wives who hate their former spouse' should filed be listed among ‘Reasons that Western Civilization died.”
An email sent by Benzinga on the matter to Musk via X’s press team is yet to elicit any response on the comment.
Scott’s beneficiaries this year include organizations that advocate for women’s health and minority groups, such as the ACLU of Alabama, the Center for Empowering Refugees and Immigrants, and the Institute of Women & Ethnic Studies. Scott’s unrestricted approach to giving distinguishes her from other philanthropists.
In 2022, Scott’s philanthropy included donations of $275 million to Planned Parenthood and $15 million to the Lutheran Immigration and Refugee Service. Neither Scott’s representatives at Lever for Change nor Musk responded to Business Insider’s request for comment.
Why It Matters: Scott’s philanthropic efforts have been significant since her high-profile divorce from Bezos in 2019. She offloaded about 65.3 million shares of Amazon.com in 2023, valued at approximately $10 billion. This divestiture was part of Scott’s systematic reduction of her stake in Amazon, which she began after her divorce settlement made her one of the wealthiest women in the world.
Bezos’s financial trajectory has been a subject of speculation, particularly in the context of his divorce from Scott. If he hadn’t divorced Scott without a prenuptial agreement, Bezos could have been one of the richest men in history.
Photo generated using Midjourney
Engineered by Benzinga Neuro, Edited by Pooja Rajkumari
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.