Amazon founder and former CEO Jeff Bezos made headlines this summer with his lavish wedding to former journalist Lauren Sanchez. The two married in Venice in late June, and several famous guests and attendees showed up to celebrate.
Bezos’ marriage to Sanchez is his second, and his former wife is making news of her own after an incredibly inspirational charity decision. Bezos’ ex-wife MacKenzie Scott is donating $70 million to the UNCF – the country’s largest private provider of scholarships to minority students.
Scott’s $70 million is part of a larger $1 billion commitment by the UNCF to get students at the country’s 37 historically Black colleges and universities.
Scott’s Commitment to the UNCF
“This extraordinary gift is a powerful vote of confidence in HBCUs and in the work of UNCF,” said the organization’s president and CEO Dr. Michael L. Lomax in a statement to the Associated Press.
“It provides a once-in-a-generation opportunity for our member institutions to build permanent assets that will support students and campuses for decades to come.”
Scott is typically private when it comes to her philanthropic work. She only discusses her donations through her personal website, and only confirms them after her recipients do. This is Scott’s first publicized donation for 2025, and one of her largest since becoming one of the world’s foremost philanthropists.
Dr. Lomax noted that Scott’s donation to the group will be used as part of its pooled endowment, and that the funds are expected to be used in a $370 million investment for HBCUs. Each school would receive $10 million in the initial investment, money that would be used to help the institutions stabilize their budgets.
In total, the UNCF’s goal is to raise $1 billion in funding for the betterment of HBCUs around the country. The organization says that HBCU endowments trail those at non-historically Black institutions by around 70%.
Scott’s History and Previous Donations
This isn’t the first time Scott has worked with the UNCF, as she donated $10 million to the organization back in 2020. That year, she said that her decisions were “driven by a deep belief in the value different backgrounds bring to problem-solving on any issue.”
The philanthropist gave around $2 billion of her fortune last year, bringing her to a total of just over $19 billion. Forbes estimates Scott’s net worth at $34 billion, meaning that her promise to donate more than half her wealth is still on track.
Scott, along with several other billionaires, signed the Giving Pledge in 2019. The agreement among some of the world’s richest individuals was established in an effort to pool resources for the betterment of humanity.
Scott’s donations have helped thousands of Americans, and this most recent effort of philanthropy is likely to have a similar effect.
“We are deeply grateful for MacKenzie Scott’s continued support,” Dr. Lomax said.
“By entrusting UNCF to decide how best to use these funds, she affirms that HBCUs merit investment at this scale and her generosity will strengthen our member institutions and provide pathways to success for tomorrow’s changemakers.”
