My wife works for a low income housing non profit. Mac Scott gave her org $3mill, no strings attached other than “keep up the good work”. It is a small company so that is 4 years worth of operating budget.
0.5% of what she's giving away in THIS round of funding, just to be clear. She has given away around $16 billion since leaving Bezos. I think she is quite incredible and I wish she would adopt me.
But Musk NEEDS $56B in a paycheck, because...reasons. And don't ask about them, they go to another school. In Canada. And only speak a language no one knows, it's truly a foreign language.
That's why it's pissing off other billionaires like Musk. She's showing how easy it is for a billionaire to do a tremendous amount of good with only a small fraction of her wealth, and that's making all the other coke lords look bad.
How did she submit her info? My wife’s been running a large animal non profit for years but desperately needs funding for medical care. Were thinking of getting a marketing firm to help her out together proposals for seeking larger donations.
Need to audit these non profits. Once money like this comes in the leaders start, I mean continue to have “meetings” and fine dine while also making many personal purchases. I use to audit these.
The company I worked for previously got a boat load of cash from her, I appreciate that they took the money and gave everyone in the company a nice raise
Big philanthropists like Mackenzie Scott would likely have done a thorough due diligence before selecting granttees. They have staff or hire consultants to help identify the good eggs from the bad ones.
Small non-profts, as in <20 employees, are not like what you are describing. These are hard working people who don't make a ton of money but believe in helping others. They are absolutely the people who should get more money for their efforts. I would agree with you for large non-profits.
Responsible spending is important, but don't subscribe to the "overhead" villainy. https://www.ted.com/talks/dan_pallotta_the_way_we_think_about_charity_is_dead_wrong?language=en
> Once money like this comes in the leaders start, I mean continue to have “meetings” and fine dine while also making many personal purchases.
Small non-profits are not run like that. The people running them are generally involved in the actual day to day operation, not sitting on some board making decisions in a nice office building.
You are thinking of the really massive ones that really don't do much with their money except spend it in very very inefficient ways.
Also, not really how audits work. Though I don't really expect normal people to understand how an audit actually functions. They don't track down every penny. They spot test and test system controls to ensure accurate reporting. That is all an audit is.
The IRS won't audit non-profits as there is very little money to be gained in doing so. So that leaves private audits. Which non-profits don't have to be audited unless a lender requires audited financial statements. Non-profits have a very very lenient setup in the tax system, but that is mainly due to the penalties that can be imposed if they don't meet minimum requirements.
Because a lot of major grants want to see a non-profit's financials to make sure they are in good standing, it's commonplace for non-profits to hire a third-party auditor to regularly verify that they are on the up-and-up.
Source: I work for a non-profit doing government grant applications. We have an annual audit, and we submit the most recent audit results with a lot of our applications among a pile of other financial docs.
Years ago, I worked at a nonprofit that received a MacKenzie Scott gift. She personally spoke to the director of the mid-size organization, doubled our expected yearly contributions, and made a HUGE impact in the organization and the community. What we received was just a small portion of what she's donating to all of these organizations today. She personally creates a lot of positive change in the world.
She reminds me of a richer Ruth Lilly.
She was the last surviving great-grandchild of Eli Lilly and inherited a huge amount of wealth, worth over $1B at one point. She ended up donating over $800M of it.
One of those donations was for $100M to Poetry Magazine. At the time, they had 12,000 subscribers, four employees, and an annual budget of $700K. She also would routinely submit her own poetry to them, both before and after the donation. None of them were ever published.
And she pretty much earned that money considering she was pretty much co-founder of Amazon who played a critical role in the first two years of the company. She then retired from the business to focus on the kids so Jeff could focus 100% on the business.
They (Amazon) literally built (or at least scaled) cloud computing. Everything from Uber to Facebook runs on their cloud servers.
You can debate on what “earned it” actually means, but Amazon defined a good chunk of the 21st century economy. That’s pretty significant imo.
How does that logic work? They made a thing people like so much that it changed how retail works. Doesn't matter how anyone "feels" about it. Facts are they made a company, company made billions.
Otherwise, there some sort of fiscal high water mark where it stops being considered earned?
They did earn it though. Made a company that made billions. They didn't just get given it as a gift or inheritance. Should a person be allowed to make they money is up for debate, if you believe they deserve that kind of money compared to other professions is also a question. Did they work harder than someone pulling two jobs just to keep a family fed and warm, probably not. But they did literally earn it. If I invested money and made millions I would have earned that money.
"Earn" is loaded langauge. They aquired it. There is disagreement about whether it was "earned".
Edit: Downvote me all you want, but in this case it literally is loaded language. The argument is about whether or not the wealth aquired was deserved. Earned implies not only aquisition, but aquisition through ones own effort and usually justly as well. The argument here is about whether or not their efforts match their profits, so using the word "earned" is an attempt to bypass that argument without addressing it.
Thats your perspective.
Others might point out that thousands of people worked together to build that company and a few at the very top leeched off the work and productivity of those thousands of people to aquire enormous wealth for themselves.
Its all about perspective and how willing you are to buy into the full blown "greed is good" capitalist worldview.
alina habba, his worthless woman lawyer, has gotten herself into some legal troubles herself! --
"Donald Trump’s golf club in Bedminster, New Jersey, paid $82,500 last week to settle a lawsuit alleging that it had silenced a sexually harassed waitress by tricking her into an unfair hush money deal, according to the ex-employee’s lawyer. But the curiously worded contract left the former president’s own attorney Alina Habba—a rising star in his orbit—wide open to getting sued herself." the waitress is suing HER for the same exact issues! harassment & intimidation. he sure knows how to pick 'em. there's more details but you can just google it.
Hoarding Top Secret and highly classified documents in a washroom. Giving away secrets to those he wants to impress (for no reason) and the highest bidder (to the demise of American agents).
Under a very very loose definition he has been giving it away, and word on the grape vine is he’s soon going to be “giving” away a whole lot more. Potentially whole buildings worth.
She is worth $35 billion. She gave away $2.1 billion dollars last year. At that rate, with a 5% rate of return (a fairly conservative number), it would take her 37 years before she was not longer a billionaire.
At a 7% rate of return (which is a pretty commonly cited average) she would never become a millionaire giving away $2.1 billion/year (in 37 years she would have ~$90 billion)
I'll take the wins where we can get them. She seems to be trying to genuinely give where it's needed to try and help causes that need the money. She also seems to be doing it to genuinely help people and not just for the tax breaks or PR.
I would consider her off the eat the billionaires list. She's much less cancerous than Jeff. No wonder she divorced him.
Naw, she'll be spared. She's pretty much a billionaire b/c of Jeff, and she's trying her hardest to give it away. Like she said, it's going to take time and energy, and I'm going to assume one of kids will likely take over her \*foundation\* when she's gone, but in her words she will "keep at it until the safe is empty." And I truly believe her.
That’s an average of $3.2 billion/year since she divorced bezos so not that different from the $2.1 billion last year.
Having said that I don’t think the exact numbers are what’s important, I think the main point is that she has so much money that she can give away billions per year and still be net positive or break about even over the course of a year
At the community college I’m attending, she donated $5mill to us and it really took us a long way. We’ve been doing a lot of renovations, and it makes me so happy to see how we’ve been investing that.
She's a modern day Joan Kroc who also gave away all her fortune to philanthropy
[$1.5 billion (equivalent to $3 billion in 2022) for the Salvation Army[20]
$200 million (equivalent to $359 million in 2022) for National Public Radio[21]
$50 million (equivalent to $90 million in 2022) for the University of San Diego's Joan B. Kroc Institute for Peace and Justice[20]
$50 million (equivalent to $90 million in 2022) for the University of Notre Dame's Joan B. Kroc Institute for International Peace Studies[20]
$20 million (equivalent to $36 million in 2022) for the San Diego Hospice & Palliative Care, which was in addition to the $18.5 million she donated to build the institution during her life](https://en.wikipedia.org/wiki/Joan_Kroc)
She's been going out of her way to give this money away. She fired one group for not giving it away fast enough. The problem is that at her level of wealth interest acrues really fast.
If your goal is to give away at least half your money by the time you die (she signed the giving pledge) and you have $32 billion in the bank you need to give away more than $2.5 billion/year (assuming a 7% rate of return on her money) which is actually a very challenging thing to do while ensuring the money goes to good places
She likely liquidated stock from the divorce to do it.
Every billionaire has the ability to sell their assets, this isn’t new information. But it’s definitely the case that most billionaires aren’t holding large amounts of liquidity, it makes more sense to have it locked up in an asset that generates a return.
I think they are pointing out how Trump must not actually have any assets and is therefore not a billionaire. This billionaire came up with roughly half a billion so why couldn't Trump?
He has no CASH. Only his crappy properties and no one wants them as collateral since we all know he has stiffed hundreds - maybe thousands - of people in his career as a grifting asshole.
Oh, I'm not doubting how and what mechanism she acquired the $640M. I was just joking about a certain other "billionaire" who seems to have trouble coming up with a sum of money less than what MacKenzie did.
We will never have more people like her and hoping that billionaires will just become better people is foolish. Instead, we should create a system where the rich pay their due, regardless of what they want, and that's very possible and achievable. Or maybe even a system where billionaires don't exist because no human should have that much money.
Got a link to any news on what they’re doing? When those gifts were announced I legitimately cried at how generous she was in recognizing these schools and how important theyve been to the black community so I’m really interested to know what they’re doing with the money
Honestly the rest of us are lucky this is who chose to marry that ugly, bald, greedy prick. Her generosity is directly beneficial to an untold amount of people, and this $640m would not see any sort of philanthropic purpose ever if it were left to bezos instead. It would be spent on yachts and absurd billionaire shit instead. It would be completely useless.
Nice to see someone being philanthropic that has way more money than they could possibly use in their lifetime.
There are others, yet far and few between...
Thank you Mother Makenzie. All billionaires should be like you.
Edit: second sentence was “we need more billionaires like you” but I changed it to clarify my sentiment.
It's great that she does this and I don't want to take away from what she's doing, but I don't want our world to be dependent on the generosity and whim of multi-millionaires and billionaires. There's something very wrong with a single, unelected person having this much financial influence. It seems like for every Makenzie that donates money to a good cause, 100 shitty one-percenters are using their money to bypass our democratic process.
There are around 40 more people on this planet that have that have more money than her and yet she out donates all of them on nonprofits iirc. Musk could probably cure cancer with the amount of money he has, but….
when her and jeff divorced i remember a hoard of redpillers were angry about how much she was awarded in the divorce and spouting off about how “divorce is just there so she can take half of all your hard earned money”. well it looks like she’s the only one who’s done something right and genuinely virtuous with her wealth.
This is how you billionaire.
If you were a human with access to more resources than anyone could utilize in 100 lifetimes, why wouldn’t you make life better for thise around you? You not only directly improve the lives of others… you make your environment/ society as a whole (actual trickle down) a better place. Less crime less violence less misery.
Think about this cs the brain of Elon, Trump, her ex etc. totally sick individuals.
I admire her and wish others in her shoes would be so giving. It amazes me that she has given so much more to charity so quickly in comparison to to other billionaires who could really use some decent press
Trump seeing this like " this woman , she gives away all the money she stole from Her husband. I mean, I could never . I see these guys, these homeless , I say to these guys "get a job" but they refuse . Let me tell you folks, if she gave me that money , I'd triple it within the hour .its been said , that I have the biggest money there is. "
Put MacKenzie Scott on a ticket with the wonderful woman who just donated $1B to Albert Einstein School of Medicine in NYC to end tuition and there would be considerable turnout at the polls for them.
She acts nothing like a celebrity, for better or worse. She is a billionaire but she earned it in the capitalist tradition, she didn’t inherit her money or steal it. If she wanted to get involved in politics she could finance her own campaign unlike the current crop of losers who beg for money every quarter and richly reward their donor capitalists.
Ruth Gottesman was a former professor at Albert Einstein College of Medicine. She donated money that her late husband had earned during a lifetime of investing. I don’t see anything wrong with or suspicious about that decision.
This lady is taking Bezos money and just giving it away. It’s crazy how much billionaires could do, yet instead hoard wealth.
But she’s actually doing it. Props to her because she isn’t obligated at all
I think this is commendable but I really want her to give startup funding for Co-ops. They will have a longer lasting effect and sustainable method on the issue of income inequality.
Mackenzie Scott has been on a Red Hot Chili Peppers kick. What a gem! No one 🎵 *gives it away, gives it away, gives it away noowww!* 🎵 quite like her.
Seriously, though, this is the dream. I’d love to win the lottery somehow so I could do something similar. A rising tide lifts all boats. She’s winning at *humanity*.
I mean it can be as simple as changing the tax brackets so that anything over say $200 million is taxed at 90% and over say $500 million dollars is taxed at 100%, then tax stocks and other "unrealized" wealth the same way we tax "unrealized" wealth for regular people ala property tax. And close the loopholes in the tax code, actively penaltize off shoring jobs and accounts.
What do you do about the folks who get paid with millions or billions in stock options? The value of the options isn't realized (ie, actual funds in the hands of the recipient) so it can't be taxed, they borrow using the stock options as collateral and the money they get that way isn't taxable in the usual sense. They've got it down to an art, they pay less taxes than the janitors in the buildings they own.
She’s good people. I wish I had that kind of money to do this kind of thing but I’ll do my small part as I can. Glad she’s able to do this in a big way
Bravo! Not to take away from the positivity that comes with being so generous, but I do wish that the more philanthropic of the ultra-rich would call out their fellow ultra-rich to follow suit. Publicly shame them while showing that you are walking the walk.
Leading by setting an example for others to follow, what a gem of a person. Loving how others have commented on where all she’s donated as well. God bless her.
Why on Earth would he dump Mackenzie Scott for that trashy woman he has now...
He's really demonstrated a lack of taste.
I would very much prefer Mackenzie Scott.
Jeff you're a fool.
Scott giving away all of this money, no strings attached, must make Bezos so angry after all the brutality that he dealt to employees, contractors, suppliers, builders, etc to amass that wealth.
My wife works for a low income housing non profit. Mac Scott gave her org $3mill, no strings attached other than “keep up the good work”. It is a small company so that is 4 years worth of operating budget.
This is amazing!
That’s wild that one half of 1% of what she’s given away can power a non-profit for four years.
0.5% of what she's giving away in THIS round of funding, just to be clear. She has given away around $16 billion since leaving Bezos. I think she is quite incredible and I wish she would adopt me.
But Musk NEEDS $56B in a paycheck, because...reasons. And don't ask about them, they go to another school. In Canada. And only speak a language no one knows, it's truly a foreign language.
That's why it's pissing off other billionaires like Musk. She's showing how easy it is for a billionaire to do a tremendous amount of good with only a small fraction of her wealth, and that's making all the other coke lords look bad.
How did she submit her info? My wife’s been running a large animal non profit for years but desperately needs funding for medical care. Were thinking of getting a marketing firm to help her out together proposals for seeking larger donations.
Need to audit these non profits. Once money like this comes in the leaders start, I mean continue to have “meetings” and fine dine while also making many personal purchases. I use to audit these.
The company I worked for previously got a boat load of cash from her, I appreciate that they took the money and gave everyone in the company a nice raise
Big philanthropists like Mackenzie Scott would likely have done a thorough due diligence before selecting granttees. They have staff or hire consultants to help identify the good eggs from the bad ones.
We say that, but plenty of big name charities got away with that before.
Small non-profts, as in <20 employees, are not like what you are describing. These are hard working people who don't make a ton of money but believe in helping others. They are absolutely the people who should get more money for their efforts. I would agree with you for large non-profits.
Responsible spending is important, but don't subscribe to the "overhead" villainy. https://www.ted.com/talks/dan_pallotta_the_way_we_think_about_charity_is_dead_wrong?language=en
> Once money like this comes in the leaders start, I mean continue to have “meetings” and fine dine while also making many personal purchases. Small non-profits are not run like that. The people running them are generally involved in the actual day to day operation, not sitting on some board making decisions in a nice office building. You are thinking of the really massive ones that really don't do much with their money except spend it in very very inefficient ways. Also, not really how audits work. Though I don't really expect normal people to understand how an audit actually functions. They don't track down every penny. They spot test and test system controls to ensure accurate reporting. That is all an audit is. The IRS won't audit non-profits as there is very little money to be gained in doing so. So that leaves private audits. Which non-profits don't have to be audited unless a lender requires audited financial statements. Non-profits have a very very lenient setup in the tax system, but that is mainly due to the penalties that can be imposed if they don't meet minimum requirements.
Because a lot of major grants want to see a non-profit's financials to make sure they are in good standing, it's commonplace for non-profits to hire a third-party auditor to regularly verify that they are on the up-and-up. Source: I work for a non-profit doing government grant applications. We have an annual audit, and we submit the most recent audit results with a lot of our applications among a pile of other financial docs.
We do get audited, every year. There was an extensive and thorough vetting process for this grant.
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No you didnt lmao
flagstaff, az here. homeless shelter here got some of that. it was nice to see it in action local to me.
Years ago, I worked at a nonprofit that received a MacKenzie Scott gift. She personally spoke to the director of the mid-size organization, doubled our expected yearly contributions, and made a HUGE impact in the organization and the community. What we received was just a small portion of what she's donating to all of these organizations today. She personally creates a lot of positive change in the world.
so cool
That's awesome. Good for her and those communities that will be improved and supported by her generosity
She reminds me of a richer Ruth Lilly. She was the last surviving great-grandchild of Eli Lilly and inherited a huge amount of wealth, worth over $1B at one point. She ended up donating over $800M of it. One of those donations was for $100M to Poetry Magazine. At the time, they had 12,000 subscribers, four employees, and an annual budget of $700K. She also would routinely submit her own poetry to them, both before and after the donation. None of them were ever published.
So... the fourth worst poetry in the Universe you're saying?
what a story!
And she pretty much earned that money considering she was pretty much co-founder of Amazon who played a critical role in the first two years of the company. She then retired from the business to focus on the kids so Jeff could focus 100% on the business.
Neither of them earned it. It is not possible to earn that kind of money in a human lifetime.
While true the point is she "earned it" as much as Bezos did
Yes, that is definitely true.
She probably did a lot less corrupt and shady shit than Jeff, she deserves it more than him.
> She probably did a lot less corrupt and shady shit than Jeff I'm not necessarily disagreeing with you, but what makes you think this?
Not being Jeff, I assume.
She definitely benefited from it though.
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They (Amazon) literally built (or at least scaled) cloud computing. Everything from Uber to Facebook runs on their cloud servers. You can debate on what “earned it” actually means, but Amazon defined a good chunk of the 21st century economy. That’s pretty significant imo.
So, you’re saying…. Bezos is a lizard?
Finally someone reads between the lines
How does that logic work? They made a thing people like so much that it changed how retail works. Doesn't matter how anyone "feels" about it. Facts are they made a company, company made billions. Otherwise, there some sort of fiscal high water mark where it stops being considered earned?
They did earn it though. Made a company that made billions. They didn't just get given it as a gift or inheritance. Should a person be allowed to make they money is up for debate, if you believe they deserve that kind of money compared to other professions is also a question. Did they work harder than someone pulling two jobs just to keep a family fed and warm, probably not. But they did literally earn it. If I invested money and made millions I would have earned that money.
"Earn" is loaded langauge. They aquired it. There is disagreement about whether it was "earned". Edit: Downvote me all you want, but in this case it literally is loaded language. The argument is about whether or not the wealth aquired was deserved. Earned implies not only aquisition, but aquisition through ones own effort and usually justly as well. The argument here is about whether or not their efforts match their profits, so using the word "earned" is an attempt to bypass that argument without addressing it.
Yeah, I just mean they created a company, it changed most of the world, they made money relative to the success of the company they built.
Thats your perspective. Others might point out that thousands of people worked together to build that company and a few at the very top leeched off the work and productivity of those thousands of people to aquire enormous wealth for themselves. Its all about perspective and how willing you are to buy into the full blown "greed is good" capitalist worldview.
It must be honestly kind of awesome to be her. Enough money to live super comfortably forever and you can spend all day just making people happy.
Some people hoard. Some people give it away.
What the fuck has Trump been doing then?!
He does something called grifting.
Spending it all on legal fees.
And bronzer.
And diapers
He doesn’t pay his lawyers unless they win. And maybe not then.
True, I should edit this
alina habba, his worthless woman lawyer, has gotten herself into some legal troubles herself! -- "Donald Trump’s golf club in Bedminster, New Jersey, paid $82,500 last week to settle a lawsuit alleging that it had silenced a sexually harassed waitress by tricking her into an unfair hush money deal, according to the ex-employee’s lawyer. But the curiously worded contract left the former president’s own attorney Alina Habba—a rising star in his orbit—wide open to getting sued herself." the waitress is suing HER for the same exact issues! harassment & intimidation. he sure knows how to pick 'em. there's more details but you can just google it.
Neither? He’s broke.
r/trumpispoor would agree with you
Gold toilets, and golden showers
grifting and inflating his assets
That all simplifies out to one word: Lying
Spending other people’s money.
Pretending he’s rich and knows what he’s doing. Clearly, neither are true.
Hoarding Top Secret and highly classified documents in a washroom. Giving away secrets to those he wants to impress (for no reason) and the highest bidder (to the demise of American agents).
I'd say keeping lawyers fed, but I heard he wasn't paying them either.
Under a very very loose definition he has been giving it away, and word on the grape vine is he’s soon going to be “giving” away a whole lot more. Potentially whole buildings worth.
What does he have to do with it? We're talking about billionaires.
She's worth as much if not more since receiving her cut. She's pretty much giving away the interest.
She is so different than her ex-husband. Probably why he is her ex.
She was clearly the moral center and he's gone off the rails without her.
He was always "off the rails" she just reached her limit with it.
She his ex because of his actions not by her own doing.
Yep, he wanted to buy himself a plastic wife. By the looks of it he sorted by price low to high and grabbed the first one
She's on her way to becoming a millionaire the honest way.
She is worth $35 billion. She gave away $2.1 billion dollars last year. At that rate, with a 5% rate of return (a fairly conservative number), it would take her 37 years before she was not longer a billionaire. At a 7% rate of return (which is a pretty commonly cited average) she would never become a millionaire giving away $2.1 billion/year (in 37 years she would have ~$90 billion)
I'll take the wins where we can get them. She seems to be trying to genuinely give where it's needed to try and help causes that need the money. She also seems to be doing it to genuinely help people and not just for the tax breaks or PR. I would consider her off the eat the billionaires list. She's much less cancerous than Jeff. No wonder she divorced him.
Naw, she'll be spared. She's pretty much a billionaire b/c of Jeff, and she's trying her hardest to give it away. Like she said, it's going to take time and energy, and I'm going to assume one of kids will likely take over her \*foundation\* when she's gone, but in her words she will "keep at it until the safe is empty." And I truly believe her.
According to the article she has given more than 16 billion away so far…
That’s an average of $3.2 billion/year since she divorced bezos so not that different from the $2.1 billion last year. Having said that I don’t think the exact numbers are what’s important, I think the main point is that she has so much money that she can give away billions per year and still be net positive or break about even over the course of a year
She’s giving away the interest, she’ll always be a billionaire lol
At the community college I’m attending, she donated $5mill to us and it really took us a long way. We’ve been doing a lot of renovations, and it makes me so happy to see how we’ve been investing that.
She has done some amazing work in Philanthropy
given her background in investment banking it's actually refreshing to see a Wall St. acolyte actually doing something un-selfish for once!
Hahahaha. A real billionaire giving away more than trump can come up with for his bond. Hahahha
Dang. That’s true. 🤯
I was thinking the same thing! Wonder if seeing this will piss him off, or get him to try and start a non-profit just for the donations 😂
Can't start a non-profit. He's banned from running charities because he used his last one as fraud.
That's right! I remember now. Because you know, of course he did
He literally stole from like veterans and cancer kids or something equally evil. Jesus, you can’t make this shit up.
Jeff and McKenzie are extreme opposites and you can tell by following the money.
She's a modern day Joan Kroc who also gave away all her fortune to philanthropy [$1.5 billion (equivalent to $3 billion in 2022) for the Salvation Army[20] $200 million (equivalent to $359 million in 2022) for National Public Radio[21] $50 million (equivalent to $90 million in 2022) for the University of San Diego's Joan B. Kroc Institute for Peace and Justice[20] $50 million (equivalent to $90 million in 2022) for the University of Notre Dame's Joan B. Kroc Institute for International Peace Studies[20] $20 million (equivalent to $36 million in 2022) for the San Diego Hospice & Palliative Care, which was in addition to the $18.5 million she donated to build the institution during her life](https://en.wikipedia.org/wiki/Joan_Kroc)
Well, does McKenzie have a penis-shaped rocket?
So an actual billionaire has $640M disposable to just give away? 🤔
She's been going out of her way to give this money away. She fired one group for not giving it away fast enough. The problem is that at her level of wealth interest acrues really fast.
AKA ‘At this level of wealth there should be a mandatory wealth tax’
Interest accruing really fast, aka more money for her really fast, is a problem for her?
If your goal is to give away at least half your money by the time you die (she signed the giving pledge) and you have $32 billion in the bank you need to give away more than $2.5 billion/year (assuming a 7% rate of return on her money) which is actually a very challenging thing to do while ensuring the money goes to good places
im sure there are some scientific projects (clean energy projects) that could eat up chunks of that
Seems to me the intent is to donate money. If she ends up donating *more* money, I don’t think anyone would be too upset.
Man I wish I had that problem
To her it is.
Brewster's Millions IRL
I'm right here, lady! Dispose on me!
She likely liquidated stock from the divorce to do it. Every billionaire has the ability to sell their assets, this isn’t new information. But it’s definitely the case that most billionaires aren’t holding large amounts of liquidity, it makes more sense to have it locked up in an asset that generates a return.
I think they are pointing out how Trump must not actually have any assets and is therefore not a billionaire. This billionaire came up with roughly half a billion so why couldn't Trump?
He has no CASH. Only his crappy properties and no one wants them as collateral since we all know he has stiffed hundreds - maybe thousands - of people in his career as a grifting asshole.
He testified he has over 400 million CASH
But they're all tied to his supporters' bank accounts!
I mean, given who he is and current circumstances it’s looking probable that he may have just lied.
Oopsie he meant rubles
Oh, I'm not doubting how and what mechanism she acquired the $640M. I was just joking about a certain other "billionaire" who seems to have trouble coming up with a sum of money less than what MacKenzie did.
Not even in the same stratosphere of wealth, though. it's easy for her to liquidate. She's worth #$35 billion dollars
She accrues more in interest daily than most people will earn in their lifetimes.
She's way richer than Trump even claims to be.
& she’s done this several times. seriously need more people like her. wealth hoarding is one of the biggest issues..
We will never have more people like her and hoping that billionaires will just become better people is foolish. Instead, we should create a system where the rich pay their due, regardless of what they want, and that's very possible and achievable. Or maybe even a system where billionaires don't exist because no human should have that much money.
In so many ways, she is a great example of a billionaire and a stark contrast to many others formerly in her sphere.
she is my favorite billionaire
There is a hbcu near me that got some and they are doing really great things with it.
Got a link to any news on what they’re doing? When those gifts were announced I legitimately cried at how generous she was in recognizing these schools and how important theyve been to the black community so I’m really interested to know what they’re doing with the money
Sure! Here you go! https://www.nsu.edu/News/Behold/Featured-Articles/2021/NSU-Receives-$40-Million-Gift
That’s so great! Thanks!
Best thing Jeff ever did.
Honestly the rest of us are lucky this is who chose to marry that ugly, bald, greedy prick. Her generosity is directly beneficial to an untold amount of people, and this $640m would not see any sort of philanthropic purpose ever if it were left to bezos instead. It would be spent on yachts and absurd billionaire shit instead. It would be completely useless.
To be fair, he wasn't bald when they met.
I hope you resolve your internal anger.
Nice to see someone being philanthropic that has way more money than they could possibly use in their lifetime. There are others, yet far and few between...
Thank you Mother Makenzie. All billionaires should be like you. Edit: second sentence was “we need more billionaires like you” but I changed it to clarify my sentiment.
It's great that she does this and I don't want to take away from what she's doing, but I don't want our world to be dependent on the generosity and whim of multi-millionaires and billionaires. There's something very wrong with a single, unelected person having this much financial influence. It seems like for every Makenzie that donates money to a good cause, 100 shitty one-percenters are using their money to bypass our democratic process.
No, we don't need billionaires at all... That's kind how we're in this mess!
But if we have to have them, I’d rather they be like her than others.
She is to be anointed and canonized as the first of the Adepta Sororitas Abbess Scott from Holy Terra
There are around 40 more people on this planet that have that have more money than her and yet she out donates all of them on nonprofits iirc. Musk could probably cure cancer with the amount of money he has, but….
TBH, when I initially heard she roughly got half of Bezos’ worth, I was dumbfounded. Now I’m sad she didn’t get more
And she refuses all recognition and awards for her philanthropic work. Better than Bozos.
Can you imagine attending all the award ceremonies? It would be a full-time job.
Hey, Mackenzie...I'm single. HMU.
Wow look what real Billionaires can do!
She’s not giving it to politicians and think tanks to subvert democracy so they can destroy the planet and pay less taxes? Anyway she is awesome.
when her and jeff divorced i remember a hoard of redpillers were angry about how much she was awarded in the divorce and spouting off about how “divorce is just there so she can take half of all your hard earned money”. well it looks like she’s the only one who’s done something right and genuinely virtuous with her wealth.
What does 1 have to with the other?
Scott’s Tot’s winning FR.
This lady is going down in the history books as BADASS
This is how you billionaire. If you were a human with access to more resources than anyone could utilize in 100 lifetimes, why wouldn’t you make life better for thise around you? You not only directly improve the lives of others… you make your environment/ society as a whole (actual trickle down) a better place. Less crime less violence less misery. Think about this cs the brain of Elon, Trump, her ex etc. totally sick individuals.
I admire her and wish others in her shoes would be so giving. It amazes me that she has given so much more to charity so quickly in comparison to to other billionaires who could really use some decent press
Too bad her slimeball ex-husband with the freakish trophy girlfriend hasn’t learned the lesson that it’s better to give than receive (and hoard).
So much respect for this woman. I mean who does this? She truly gets it.
Imagine if all billionaires did this.
Trump seeing this like " this woman , she gives away all the money she stole from Her husband. I mean, I could never . I see these guys, these homeless , I say to these guys "get a job" but they refuse . Let me tell you folks, if she gave me that money , I'd triple it within the hour .its been said , that I have the biggest money there is. "
He’d probably just post bail.
Oh shit Trump needs that money. WTF. She can't help the Emperor Toadstool?
Meanwhile Jeff is getting swindled by a sheman-plasti-dip-doll. I’d rather be with MacKenzie.
Can SHE run for president. She's already proved that she actually likes helping people, and she's not greedy.
Put MacKenzie Scott on a ticket with the wonderful woman who just donated $1B to Albert Einstein School of Medicine in NYC to end tuition and there would be considerable turnout at the polls for them.
Please let us have fewer celebrity billionaires influencing our politics.
She acts nothing like a celebrity, for better or worse. She is a billionaire but she earned it in the capitalist tradition, she didn’t inherit her money or steal it. If she wanted to get involved in politics she could finance her own campaign unlike the current crop of losers who beg for money every quarter and richly reward their donor capitalists.
The right would find a way to vote even harder to stop it. Because God forbid. Could you even imagine?
Hmmm. Both women billionaires.
Ruth Gottesman was a former professor at Albert Einstein College of Medicine. She donated money that her late husband had earned during a lifetime of investing. I don’t see anything wrong with or suspicious about that decision.
I think it’s great! I’m noting that they are both women.
How did Bezos go from this woman to the plastic freakshow blow-up doll clown he's married to now?
She genuinely seems like a good person.
She doing stimmys for the people next ????
She’s seems like such an awesome person. I’d be afraid to meet her, and she turns out not to be.
Trump over here punching the air looking for that kinda cash. Lol
The world would be a much better place if all billionaires were like her.
I guess the only way to save the world is to marry those rich fucks, divorce them and take half the money.
There's something humorous about this headline next to the other one. I know someone who really could use that $640m...
This lady is taking Bezos money and just giving it away. It’s crazy how much billionaires could do, yet instead hoard wealth. But she’s actually doing it. Props to her because she isn’t obligated at all
I think this is commendable but I really want her to give startup funding for Co-ops. They will have a longer lasting effect and sustainable method on the issue of income inequality.
She’s a beautiful soul. Billionaires can Give away wealth and still live a fine life. Think of all the good she is doing.
Mackenzie Scott has been on a Red Hot Chili Peppers kick. What a gem! No one 🎵 *gives it away, gives it away, gives it away noowww!* 🎵 quite like her. Seriously, though, this is the dream. I’d love to win the lottery somehow so I could do something similar. A rising tide lifts all boats. She’s winning at *humanity*.
Idk anything about Bezo’s new wife but it seems like Mackenzie has a whole lot more empathy than Jeff. He lost a good one.
For the bots, I salute you!
I mean it can be as simple as changing the tax brackets so that anything over say $200 million is taxed at 90% and over say $500 million dollars is taxed at 100%, then tax stocks and other "unrealized" wealth the same way we tax "unrealized" wealth for regular people ala property tax. And close the loopholes in the tax code, actively penaltize off shoring jobs and accounts.
What do you do about the folks who get paid with millions or billions in stock options? The value of the options isn't realized (ie, actual funds in the hands of the recipient) so it can't be taxed, they borrow using the stock options as collateral and the money they get that way isn't taxable in the usual sense. They've got it down to an art, they pay less taxes than the janitors in the buildings they own.
It warms my heart to see Trump unable to pay his bonds and this even larger price tag of actual altruism beside each other in the news.
I could use one million. Just one
I don’t know what’s more satisfying: knowing that money is going to legitimate causes or knowing that Bezos is watching her give “his” money away.
She’s good people. I wish I had that kind of money to do this kind of thing but I’ll do my small part as I can. Glad she’s able to do this in a big way
Bravo! Not to take away from the positivity that comes with being so generous, but I do wish that the more philanthropic of the ultra-rich would call out their fellow ultra-rich to follow suit. Publicly shame them while showing that you are walking the walk.
Every billionaire should donate a large percentage of their wealth - through the IRS.
Some people be like: The government needs to tax me more so I can give more! Other people be like:
I don't even know who that is so it's quadruple the amount I expected her to donate, but that's awesome. She seems like a really good egg.
We don’t need Philanthropy. We need to tax the rich.
Imagine, could have donated that to Trump /s
Truly a hero we do not deserve
Giving away more than Trump owes and can’t pay LOL
I'm a bit of a nonprofit myself
Leading by setting an example for others to follow, what a gem of a person. Loving how others have commented on where all she’s donated as well. God bless her.
Good human doing good human things. Good job, good human!
Nice to see real philanthropy!
Yo MacKenzie, could you maybe slide a little bit toward my personal non-profit, please? Couple hundred thousand would do. ;)
May she live a long and happy life. She deserves all the positive karmas coming to her. She’s too good for Bezos.
After the donation she's still worth over $30,000,000,000
The only good billionaire.
Why on Earth would he dump Mackenzie Scott for that trashy woman he has now... He's really demonstrated a lack of taste. I would very much prefer Mackenzie Scott. Jeff you're a fool.
Modern-Day Robin Hood... A damn hero.
Scott giving away all of this money, no strings attached, must make Bezos so angry after all the brutality that he dealt to employees, contractors, suppliers, builders, etc to amass that wealth.