Tag: Scotts

  • MacKenzie Scott’s recent college gifts top $700M. See who got funding.

    MacKenzie Scott’s recent college gifts top $700M. See who got funding.

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    Billionaire philanthropist MacKenzie Scott is on another donation spree, giving more than $740 million total to over a dozen historically Black colleges and universities, as well as at least one tribal college since mid-October.

    In 2019 — the same year Scott and her ex-husband, Amazon founder Jeff Bezos, divorced — she pledged to give away most of her wealth. Scott’s fortune is estimated to be worth $38.7 billion, according to Bloomberg.

    On Thursday, Little Priest Tribal College, in Nebraska, said it received a $5 million donation from the billionaire philanthropist. The institution — the first tribal college to publicly announce a gift from Scott during her latest donation blitz — said it would use the gift to accelerate plans to develop a new 10-acre campus.  

    Only two days earlier, Xavier University of Louisiana, a HBCU, announced it had received a $38 million unrestricted donation from Scott. 

    So far, Howard University, in Washington, D.C., has garnered the largest among Scott’s recent gifts to colleges. Earlier this month, the philanthropist donated the research university $80 million, earmarking $17 million of that amount for its medical college. 

    Most of the colleges have received gifts from Scott before. 

    Scott has made mass donations to higher education institutions in previous years — by 2021, she had given at least $1.5 billion total to roughly six dozen institutions. Her other rounds of donations have likewise focused on minority-serving institutions, such as Hispanic-serving institutions and HBCUs. 

    Below, we’re rounding up colleges that have received gifts from Scott in her latest donation spree. Let us know if we’ve missed any announcements.

    Scott has given over $700M to colleges in latest donation spree

    The gifts higher education institutions have received from Scott in recent months

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  • HBCUs Gifted Nearly $300M in Scott’s Latest Donation Flurry

    HBCUs Gifted Nearly $300M in Scott’s Latest Donation Flurry

    Five historically Black colleges and universities have recently announced gifts of $50 million or more in unrestricted funds from billionaire philanthropist MacKenzie Sott. 

    Prairie View A&M University, North Carolina Agricultural and Technical State University, Bowie State University, Norfolk State University and Winston-Salem State University are the latest HBCUs to benefit from Scott’s philanthropy—she has already donated to at least eight other institutions this year.

    On Friday, Prairie View and North Carolina A&T said they received $63 million each, the largest single gifts ever received in their histories, which follow previous gifts from Scott in 2020—$50 million to Prairie View and $45 million to N.C. A&T. Her support for each institution totals $113 million and $108 million, respectively.

    Also last week, Bowie State, Winston-Salem State and Norfolk State each announced record-breaking gifts of $50 million following donations from Scott in 2020—$25 million, $30 million and $40 million, respectively.

    “This gift is more than generous—it is defining and affirming,” said Prairie View A&M president Tomikia LeGrande in a statement. “MacKenzie Scott’s investment amplifies the power and promise of a Prairie View A&M University education as we advance our vision of becoming a premier public, research-intensive HBCU that serves as a national model for student success.”

    Voorhees University also received a $19 million donation from Scott earlier this month, following a $4 million gift in 2020.

    The five universities said they would use the donations to progress their strategic plans through funding scholarships, growing endowments, improving teaching and research, and supporting student success.

    In 2019, Scott pledged to give away half her wealth in her lifetime. By 2023, her donations to educational institutions exceeded $1 billion. This year, Scott has donated $80 million to Howard University in Washington, D.C.; $38 million to the University of Maryland Eastern Shore; and $38 million each to Spelman College and Clark Atlanta University in Georgia.

    “No investor in higher education history has had such a broad and transformational impact across so many universities,” said N.C. A&T chancellor James R. Martin II in a statement.

    “North Carolina A&T is deeply grateful for Ms. Scott’s reaffirmed belief in our mission and for the example she sets in placing trust in institutions like ours to drive generational change through education, discovery and innovation.”

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