MacKenzie Scott's $80 Million Donation to Howard University

MacKenzie Scott has made headlines again with her generous $80 million donation to Howard University, marking one of the largest gifts in the institution's 158-year history. This donation, announced by Howard University, comes at a critical time as the school faces challenges due to a federal government shutdown that has delayed annual appropriations essential for student success and operations.

Of the $80 million, $63 million will support the university's general operations, while $17 million is earmarked for the College of Medicine. Wayne A.I. Frederick, Howard's interim president, emphasized that this investment will help maintain momentum and support crucial student aid, infrastructure improvements, and operational continuity.

Scott's donation is unrestricted, allowing the university to allocate the funds as they see fit. This act fits into a broader trend of philanthropy focused on diversity, equity, and inclusion, which Scott has been championing with multiple recent multimillion-dollar contributions.

Just recently, she donated $42 million to 10,000 Degrees, a nonprofit dedicated to expanding college access for low-income and predominantly non-white students. Additionally, her philanthropy isn't limited to Howard; she has made substantial commitments to support Native student scholars and HBCU endowments through the United Negro College Fund.

It's worth noting this donation follows a significant reduction in her Amazon stake, as she cut her holdings by nearly $12.6 billion, bringing her current stake down to $12.6 billion. Following her divorce from Jeff Bezos, Scott gained approximately 4% of Amazon's shares and has since pledged to donate the majority of her wealth, which has amounted to around $19 billion across more than 2,000 nonprofits in the last five years.

This latest act of generosity underscores the growing trend among billionaires to invest in educational institutions, particularly those that promote diversity and equity. As Howard University navigates the current financial challenges, Scott's donation arrives as a timely boost, reflecting her commitment to philanthropy and the critical importance of educational support during uncertain times.