No Names, Please
By KIM BELLARD
Feeling good about your holiday spending? You’ve made it through most of this mostly horrible 2020, maybe lost a job or even a loved one, but still probably found a way to buy presents for your loved ones and maybe even to give some money to charity. Indeed, charitable giving was up 7.5% for the first half of 2020, despite the economic headwinds.
Then there’s MacKenzie Scott.
Ms. Scott, as you may recall, is the former wife of Amazon founder/CEO Jeff Bezos. She got Amazon stock worth some $38b in their 2019 divorce, which is now estimated to be worth around $62b. She just gave away $4.2b – and that’s on top of $1.7b she gave away in July.
In case your math skills are impaired, that’s $6b in six months, which Melissa Berman, chief executive officer of Rockefeller Philanthropy Advisors told Bloomberg: “has to be one of the biggest annual distributions by a living individual.” Ms. Scott has vowed: “I will keep at it until the safe is empty.”
Kenzie Bryant, writing in Vanity Fair, marveled: “It gives a whole new meaning to “f.-you money.”
Private foundations are required to distribute at least 5% of their endowments each year; Ms. Scott not only has given away 10% of her net worth this year alone, but she hasn’t even used a foundation to do so. As The New York Times reported: “Ms. Scott’s operation has no known address — or even website. She refers to a “te...
Source: The Health Care Blog - Category: Consumer Health News Authors: Christina Liu Tags: Health Policy Charity Kim Bellard Source Type: blogs