BUSINESSFORTUNE
Most billionaires are stuck in ‘slow philanthropy.’ MacKenzie Scott gave away $26 billion and won’t stop until ‘the safe is empty’
MacKenzie Scott has donated over $26 billion in philanthropy within a few years, contrasting with the 'slow philanthropy' pattern of most billionaires who give only 1.2% annually. Research by Bridgespan Group and criticism from entities like the Institute for Policy Studies highlight the gap between wealthy individuals' charitable pledges and actual giving. Melinda French Gates praised Scott's rapid and impactful approach.
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- The MacKenzie Scott paradox: How a bull market lets billionaires give away tens of billions without getting poorer
- MacKenzie Scott alone accounted for one-third of America’s $19.2 billion in megagifts last year
- Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
- Warren Buffett is handing $140 billion to his family’s foundations. The way he’s doing it reveals how billionaire philanthropy really works