L: MacKenzie Scott © Fortune/ Dia Dipasupil—Getty Images; R: Melinda French Gates © Reuters/Xose Bouzas/Hans Lucas
Wealthy women like MacKenzie Scott and Melinda French Gates are reshaping philanthropy at an unprecedented scale, redefining how wealth is distributed and who holds the power to make change.
It’s not unusual for the ultra-rich to be devoted philanthropists, and many American billionaires, including each woman’s famous ex-husband, have pledged to give away most of their wealth. But the speed, scale, and strategy of Scott and French Gates’s giving is setting them apart, and their approach to wielding so much influence and giving away so much money in so short a time, their efforts are changing how others give as well.
Scott’s donations are unusual for a number of reasons, but perhaps most significantly, they are unrestricted—organizations can use them how they see fit, which is atypical for wealthy donors who tend to attach plenty of strings. Rather than operating through a foundation or a rigid grant-making process, she works with a team of advisors to identify organizations—both large and small—focused on economic security, child development, and healthcare access.
Then, she steps back, trusting the recipients to decide how best to use the funds. In 2024 alone, she donated over $2 billion, bringing her total giving to more than $19 billion since she began in earnest in 2019.
Despite this massive generosity, Scott remains one of America’s wealthiest individuals, with an estimated net worth of $31 billion, largely due to the rising stock price of Amazon, the company founded by her ex-husband, Jeff Bezos. Had she retained her full stake, she would be worth $87 billion today—placing her among the world’s 20 richest people.
French Gates has a long philanthropic history, but 2024 marked a significant shift in her strategy. In May, she resigned from the Bill & Melinda Gates Foundation, the global charity she co-founded and helped grow into one of the world’s largest philanthropic organizations. With a renewed focus on supporting women and girls, she launched an “open call” for nonprofit grant applications through her new organization, Pivotal, pledging $1 billion over the next two years. Like Scott, she is leaving it to the individuals and organizations to make their own decisions on how to best use the funds.
French Gates was spurred by the overturn of Roe v. Wade to double down on her efforts to promote women’s health, getting political in the process. By “using my own personal resources to put substantial investments behind women or minorities,” French Gates said in an interview with NPR, “I am pointing in a direction, I hope, for other philanthropists or even other governments.”
Together, Scott and French Gates are effectively redefining the culture of giving. Their hands-off approach challenges traditional philanthropy, where billionaires often dictate how their money is used. They are betting on the expertise of the organizations they support rather than exerting control from the top. As they continue to reshape the sector, one thing is clear: these two women, among the most powerful in the country, are leading a philanthropic revolution—unfazed by critics and undeterred by the status quo.
—Reuters
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MacKenzie Scott donated $2 billion to nearly 200 organizations this year—and many of her gifts were a total surprise
MacKenzie Scott © Fortune via Reuters Connect Billionaire philanthropist MacKenzie Scott gave away $2 billion to nearly 200 organizations in 2024, largely focused on economic
