“The pandemic has been a wrecking ball within the lives of Individuals already struggling,” Scott wrote in a Medium post. “Financial losses and well being outcomes alike have been worse for ladies, for individuals of shade, and for individuals dwelling in poverty. In the meantime, it has considerably elevated the wealth of billionaires.”

Scott’s publish included an inventory of the a whole bunch of organizations that acquired funds, together with monetary service suppliers for under-resourced communities, training for traditionally marginalized and underserved people, civil rights advocacy teams and authorized protection funds that tackle institutional discrimination.

Scott, who’s a philanthropist and creator in addition to the ex-wife of Amazon (AMZN)founder Jeff Bezos, famous that her group examined greater than 6,490 organizations to find out which teams would obtain the donations following her choice to speed up the tempo of her giving this 12 months.

The method mixed knowledge with the “solutions and views of area specialists, funders and non-profit chief and volunteers with many years of expertise.”

Within the newest spherical of giving, Scott donated $40 million to Morgan State College, an HBCU in Baltimore. The present is the biggest single non-public donation within the college’s historical past, and roughly doubles the varsity’s endowment.

Scott gave $50 million to Prairie View A&M College in Texas — the varsity’s largest donation ever, and almost doubling its endowment, in line with the college.

Different HBCUs together with Claflin, Virginia State and Dillard College additionally acquired donations.

Endowments for HBCUs tend to be smaller compared to different establishments as a result of a historical past of inequitable funding.

Different organizations on the checklist included the native chapters of Goodwill, Meals on Wheels, YMCA and United Method; the NAACP; World Fund for Girls; and ACE (Entry to Capital for Entrepreneurs), which supplies reasonably priced loans to underserved small companies.

“We do that analysis and deeper diligence not solely to establish organizations with excessive potential for impression, but additionally to pave the way in which for unsolicited and surprising presents given with full belief and no strings hooked up,” Scott mentioned within the publish. “As a result of our analysis is data-driven and rigorous, our giving course of will be human and comfortable.”

Scott is the world’s 18th-richest individual with a internet value of $60.7 billion, according to the Bloomberg Billionaires Index. Her’s is a fortune that has soared as Amazon’s (AMZN) inventory has surged within the pandemic. Scott acquired a quarter of Bezos’ Amazon shares following their 2019 divorce.
Final 12 months, Scott dedicated to the Giving Pledge initiative. Launched by Warren Buffett and Invoice and Melinda Gates, this system encourages the world’s richest individuals to donate a big portion of their fortunes to charitable causes.


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