Scott is one of those billionaires whose fortunes have soared since the crippled the United States for the first time in March. His wealth is now valued at over $ 60 billion, which is an increase of nearly $ 24 billion since the start of the year, according to the Bloomberg Billionaires Index.
His wealth is largely tied to the fortunes of Amazon.com, whose shares have jumped 67% this year as more consumers shopped online due to the pandemic. Scott’s charitable contributions succeed him, a philanthropic campaign founded by famed investor Warren Buffett, in May 2019, promising to donate most of his wealth to philanthropic causes over his lifetime.
On December 15, Scott announced his recent wave of charitable giving in a message to Medium, writing that she was inspired by grassroots efforts to help those in need, such as community refrigerators and ‘Venmo gifts. person-to-person impromptu ”. Scott said she first looked at 6,490 organizations, then narrowed her list down to 384 organizations that have “high impact potential.”
Many of these organizations, like food banks, serve basic needs, while others focus on what Scott called “long-term systemic inequalities that have been made worse by the crisis.”
“We shared each of our giveaway decisions with program officials for the first time over the phone, and urged them to spend the funding on whatever they felt best served their efforts,” a- she writes. “Responses from people who answered calls often included personal stories and tears. ”
“Works of mercy”
Scott’s approach to charitable giving is remarkable – and not just for the size of the donations, said Chuck Collins, director of the Charities Reform Initiative at the Institute for Policy Studies. Collins, the heir to the Oscar Mayer food empire, has donated much of his wealth himself.
“Scott, a newcomer to the billionaire wealth scene, has surrounded herself with advisers who come from underfunded communities, not the people who typically sit on foundation boards,” Collins said in an emailed statement. .
He added, “As a result, the bulk of these donations go to works of mercy during this pandemic – food banks, direct social service agencies, emergency funds and support services for the most vulnerable. ”
This is not the first time that Scott has given up some of his wealth. In July she said she hadfrom his personal fortune to charity. These gifts were intended for organizations committed to racial and gender equity, economic mobility, public health, climate change, etc.