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MacKenzie Scott Donates Another ~+ $4B

By John F. Heerdink, Jr.

MacKenzie Scott, 50, formerly married to Jeff Bezos, Amazon CEO is containing to give away her fortune at a miraculous pace, with donations of more than $4 billion in four months after announcing $1.7 billion in gifts in July.

Scott, the world’s 18th-richest person with her wealth climbing $23.6 billion this year to $60.7 billion revealed her latest contributions in a blog post-announcing that she has asked her team to find out how to give away her fortune faster.

“This pandemic has been a wrecking ball in the lives of Americans already struggling,” she wrote in the post on Medium. “Economic losses and health outcomes alike have been worse for women, for people of color, and for people living in poverty. Meanwhile, it has substantially increased the wealth of billionaires.”

Scott had signed the Giving Pledge in 2019, promising to give away the majority of her fortune.

“I have a disproportionate amount of money to share,” she wrote in her pledge. “My approach to philanthropy will continue to be thoughtful. It will take time and effort and care. But I won’t wait. And I will keep at it until the safe is empty.”

As informed in her post, her advisers have zeroed-in on 384 groups to receive gifts after considering almost 6,500 organizations.

The donations have been specific to those “operating in communities facing high projected food insecurity, high measures of racial inequity, high local poverty rates, and low access to philanthropic capital.”

The recipients include more than 30 institutions of higher education, including Black colleges, universities, and several tribal colleges. More than 40 food banks received the money.

Scott’s gifts this year is approaching $6 billion.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: MacKenzie Scott Gives Away $4.2 Billion in Four Months in Bloomberg)


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