Mon. Mar 20th, 2023

    Jeff Bezos’ ex-wife MacKenzie Scott donates $55 million Beverly Hills estate to California charity

    MacKenzie Scott, the ex-wife of Jeff Bezos, has donated two Beverly Hills properties worth a total of $55 million to a California charity that will use a large portion of the proceeds to provide housing for the homeless and towards an immigrant integration program. to go.

    Scott, 52, who was married to billionaire Bezos for 25 years, left their marriage in 2019 with 25 percent of his stake in Amazon and pledged to donate at least half of her fortune during her lifetime.

    Her most recent donation to the nonprofit philanthropic organization California Community Foundation was announced in August, but reports that recent ownership records just certified the transaction.

    It represents the latest in Scott’s ongoing philanthropy outburst, in which she gave away more than $12 billion of her estimated $42.5 billion fortune received in her divorce settlement, according to Fortuneincluding $436 million in Habitat for Humanity and $275 million in Planned Parenthood.

    MacKenzie Scott, the ex-wife of Jeff Bezos, has donated two Beverly Hills properties worth a total of $55 million to a California charity that will use 90% of the proceeds to house the homeless

    The 2.5-acre property in Beverly Hills with a pool and tennis court includes a 12,000-square-foot main house – described as a Spanish hacienda-style mansion, along with a guest house

    The 2.5-acre Beverly Hills estate includes a 12,000-square-foot main residence — described as a hacienda-style Spanish mansion built in the 1990s. There is also a 4,500 square foot guest house. There are 13 bedrooms and 14 bathrooms.

    On the property there is also a lap pool, a large tennis court, patios for outdoor activities and parking for dozens of cars.

    Scott gained ownership of the property during her divorce from Bezos, which was $37 million at the time, but has since increased to $55 million.

    It has been reported that about 90 percent of the property’s sales proceeds will go toward affordable housing and to aid the Los Angeles immigrant integration program, according to a report. press release CCF.

    With gifts totaling $12 billion in the past two years, Scott has given about 6 times as much as her ex, Jeff Bezos (left) in his entire life, despite his pledge to donate $13 billion


    Mackenzie Scott has donated approximately $12 billion over the past two years.

    Her recent donations include:

    California Community Foundation: $55 Million Properties
    Spelman College, the historically black school for women only: $20 million
    Boys & Girls Club of America: $281 million
    Communities in Schools: $133.5 million
    National 4-H Youth Council: $50 million
    Working together for gender + reproductive equality: $25 million
    Meharry Medical College: $20 million
    Guttmacher Institute: $15 million
    Jed Foundation: $15 million
    Leading Educators: $10 Million
    The National Council on Aging: $8 million
    Unbreakable: $5 million
    Young people in recovery: $3 million

    Since 2000, CCF has awarded more than $30 million to ensure that Los Angeles residents have safe and stable homes, the press release said.

    Scott’s donation supports the expansion of grant funding efforts for an initiative to add 10,000 new units in the city of Los Angeles by 2026.

    “We applaud and are grateful for MacKenzie Scott’s extraordinary philanthropic investment in Los Angeles,” said Antonia Hernández, President & CEO of CCF.

    Her unique commitment — here and across the country — to transformative philanthropy has already secured the long-term future of dozens of nonprofits. Through the California Community Foundation, her generosity will support organizations struggling to solve some of the most intractable problems facing our community. We are grateful for her collaboration.’

    This donation follows an earlier $20 million donation to CCF in 2021 to establish the LA Arts Endowment Fund that will support diverse, small-to-medium-sized arts organizations that play a vital role in Los Angeles’ creative economy, CCF reports. .

    Earlier this year, Scott also donated $281 million to the Boys & Girls Club of America, the largest one-time donation in the nonprofit’s 160-year history of after-school care.

    Scott led $256 million to 62 divisions of the Boys & Girls Club nationwide in March, with the remaining $25 million going to the organization’s national headquarters in Atlanta, Georgia.

    “Gifts like these are rare and have an incredible impact,” said Jim Clark, president and CEO of Boys & Girls Clubs of America, which serves more than 4.3 million children at more than 4,700 locations across the country.

    She also donated $20 million to Meharry Medical College in Nashville, Tennessee.

    In February, Scott gave away approximately $250 million, of which $50 million went to the National 4-H Youth Council, the agriculture-focused youth organization that serves six million children in the U.S.

    She also donated $133.5 million to Communities in Schools, a nonprofit that helps at-risk children in schools.

    Leading Educators, another education nonprofit, has been awarded $10 million to provide professional development to teachers in the U.S.

    Scott also donated to two organizations that fight addiction: $5 million to Shatterproof and $3 million to Young People in Recovery.

    She then gave to two groups focused on reproductive rights, the Guttmacher Institute and the Collaborative for Gender + Reproductive Equity, which received $15 million and $25 million, respectively.

    The National Council on Aging, a nonprofit advocating for seniors, received $8 million, while the Jed Foundation, a mental health nonprofit, received $15 million.

    In December alone, Scott donated approximately $4.1 billion to 384 organizations.

    In less than two years, Scott has given away about $12 billion, more than six times what Jeff Bezos, whose net worth is estimated at $188 billion, has donated in his entire life to date.

    Although the Amazon founder has pledged to donate $13 billion to charities, Forbes estimated that Bezos has given out just $1.5 billion, with the rest intended to be given away in the coming years.

    Forbes estimates that Bezos has only given out about $1.5 billion in charitable donations

    Earlier this year, Scott donated $281 million to the Boys & Girls Club of America, the largest one-time donation in the nonprofit’s 160-year history of after-school care.

    The recipients of the Boys & Girls Club of America gift were vocal about what they described as a “generous” and “humble” gift.

    Boys & Girls Club of Greater Milwaukee CEO Kathy Thornton-Bias, whose organization received $17 million, said in a statement, “At a time when the children of Milwaukee face so many challenges, Mackenzie Scott’s donation allows us to continue our work.” accelerate and meaningfully implement the strategies we have developed to meet the needs of the teens and children we serve.”

    Paul Martinez, President and CEO of Boys & Girls Clubs of Northeast Florida, which received $6.8 million, said, “This generous, unlimited gift is a testament to the profound impact we’ve made on our youth over the past 60 years.” years in Northeast Florida. ‘

    Martinez added that the gift would help the Florida branch grow from 38 clubs to 55 clubs by 2025, helping the group help hundreds more than the 3,500 it serves today.

    Scott has said she said the team used a data-driven approach, identifying organizations with strong leadership and outcomes, particularly in communities with high food insecurity, racial inequality and poverty rates, and “and low access to philanthropic capital.”


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