Changing the World

"The ones who see things differently - they're not fond of rules - You can quote them, disagree with them, glorify or vilify them, but the only thing you can't do is ignore them because they change things...They push the human race forward, and while some may see them as the crazy ones, we see genius, because the ones who are crazy enough to think that they can change the world are the ones who do." ~ Steve Jobs

MacKenzie Scott

Since 2019, MacKenzie Scott, who is estimated by Forbes to be worth more than $42 billion, has given away $19 billion in no-strings-attached gifts to more than 2,000 nonprofits. The size and the "no strings attached" (meaning the recipients of the donations were permitted to spend the funds however they saw fit) nature of her gifts have changed traditional philanthropy and the nonprofit world. Her median gift size was roughly $5 million. She identified organizations she deemed worthy of support through "quiet research," or a discreet vetting process, and didn't accept solicitations for donations. Exceeding $19.2 billion to more than 2,450 nonprofits, her donations alone represent 77% of the recipients’ prior year operating budget, a life-changing amount for most groups, according to “Breaking the Mold: The Transformative Effect of MacKenzie Scott’s Big Gifts,” released on Tuesday.

Changing the Nonprofit World

• New research from the Center for Effective Philanthropy (CEP) found that the uncommon size and lack of restrictions of Scott's charitable gifts not only helped those nonprofits become more financially stable but has enabled them to increase the scope of their impact. "There is much to learn from the experiences of nonprofits who received grants using Scott's approach," CEP vice president of research Elisha Smith Arrillaga said in a statement. "These organizations have managed large gifts in strategic ways that have impacted thousands of lives — whether doubling or tripling the number of individuals receiving food from food banks or increasing the number of houses being built in towns across the country, or countless other examples."
• Stephanie Gillis, director of the impact-driven philanthropy initiative at the Raikes Foundation in Seattle, told Barron’s that Scott offers a valuable new, if different, way of providing strategic philanthropy that doesn’t negate the work of institutional philanthropy, such as field-building.
• For her part, Scott is quoted in the report as saying that the motive behind not issuing restrictions around how groups could allocate the funds was rooted in her belief that those who are closest to the work are best positioned to identify the organization's needs. "I needn't ask those I care about what to say to them, or what to do for them. I can share what I have with them to stand behind them as they speak and act for themselves," she said.

Impact on Recipients

• "We received Ms. Scott's grant in December 2022 when we were serving migrants from 29 countries. We were able to expand that to 71 countries in 2023," the grantee said in a statement. "In 2023, our staff provided legal orientation to over 12,000 refugees, helped reunify over 200 unaccompanied children with their family members in the United States, and coordinated life-saving shelter and medical treatment to over 1,600 migrants."
• The $5 million surprise, no-strings attached gift granted to Goodwill Industries of East Texas by billionaire philanthropist MacKenzie Scott in December 2020 allowed the nonprofit to expand its Commercial Services division—an investment that has helped generate $4 million in additional revenue, according to Kimberly Lewis, the organization’s president and CEO.
• One group that received funding from Scott said the grant allowed their charity to grow from serving meals to approximately 2.5 million people a day, to 10 million.

Who is this Wonder Woman?

MacKenzie Scott, the 54-year-old philanthropist is the ex-wife of Amazon founder Jeff Bezos. She is a graduate of Princeton University and was married to Bezos for 25 years, playing a key role in the development and expansion of Amazon. As of December 2024, she has a net worth of US $42.1 billion and, as such, is the third-wealthiest woman in the United States and the 38th wealthiest woman in the world.

In 2022 alone, she donated over $14 billion to over 1600 charitable organizations, pioneering a new kind of giving that has transformed the nonprofit world. She is the most recent shining example of "the ones who are crazy enough to think that they can change the world are the ones who do."

Thank you for being you, Ms. Scott.