MacKenzie Scott Donates 2 Homes Worth $55 Million
American novelist and philanthropist MacKenzie Scott has donated two Beverly Hills homes to charity for a total of $55 million. The California Community Foundation (CCF), a nonprofit philanthropic organization based in Los Angeles announced that Scott, 52, donated “two single-family residences valued at $55 million” to the foundation in July. The gated 2.5 acre compound includes a 12,000 square foot main residence built in the 1990s, a 4,500 square foot guesthouse, a swimming pool, a full size tennis court and 6 car garage.
The first home was purchased by Scott and her ex-husband Jeff Bezos in 2007 for $24.45 million. The second home was purchased by the couple in 2017 for $12.9 million. The CCF hopes to quickly sell the high-maintenance spread, with the proceeds going towards affordable housing projects and an immigrant integration program. “The cost of housing stands out as one of the most critical issues affecting the lives of millions of Los Angeles residents. A priority for Ms. Scott, the primary focus of the $55 million will be to permanently endow grantmaking efforts to benefit Angelenos in need of affordable housing,” CCF said in a statement.
CCF has been an advocacy leader for increased affordable housing production, helping lead the passage of Proposition HHH, an initiative to add 10,000 new units in the City of Los Angeles by 2026. Los Angeles is poised to exceed its target by funding 10,510 units in 178 projects. Scott’s gift will permanently support the expansion of these grantmaking efforts. This is the second time Scott has donated to the organization, giving the nonprofit $20 million last year to create the LA Arts Endowment Fund.
Scott, whose estimated net worth is $37 billion makes her the 29th richest person in the world. Scott still owns 4% of Amazon after selling $8.5 billion in company stocks. After her divorce from Jeff Bezos, Scott signed the Giving Pledge, promising to donate at least half of her wealth over her lifetime, and has since gifted billions of her dollars to large and small organizations dedicated to social equity. She has so far donated more than $12 billion to charitable causes and groups as part of the Giving Pledge. Earlier this year, Scott donated $436 million to Habitat for Humanity. Last year she announced donations of $2.7 billion to nearly 300 organizations.
