World’s wealthiest woman makes $4.2b donation

Mackenzie Scott's net worth remains on upward trend

MacKenzie Scott, believed to be the world’s wealthiest woman, announced that she has donated more than $4 billion to food banks and emergency relief funds in 4 months.

In a blog post, Scott, whose wealth largely derives from stock in Amazon – founded by her ex-husband Jeff Bezos – said that she wanted to help Americans who were struggling because of the pandemic.

She had also donated some $1.7 billion to 116 charities last July, stating that she wanted to call attention to organisations and leaders driving change, and this time round, she donated €4.158 billion to 384 organisations from across the US, selected by a team of advisors.

In spite of the largesse, Scott’s net worth is believed to have gone up considerably this year. The 2019 divorce settlement had earned her $38 billion in Amazon stock, but her net worth is now estimated to be $68 billion.

A report by Swiss Bank UBS had found that in spite of the economic impact of the Covid-19 pandemic, the world’s billionaires have done extremely well, increasing their net worth by 27.5% from April to July.

Bezos has himself committed some $10 billion to issues related to climate change this year.

Other huge donors this year include Twitter co-founder Jack Dorsey, who announced that $1 billion of his assets – around a quarter of his net worth – were being moved into a fund to support pandemic relief efforts and other causes.

Through their foundation, Bill Gates and his wife Melinda have committed some $305 million for vaccines and other causes, support that saw the Microsoft founder become the subject of various pandemic-related conspiracy theories.