Richest Americans Can’t Give Money Away Fast Enough


MacKenzie ScottTaylor Hill/FilmMagic

America’s wealthiest have been getting a lot of unsolicited advice lately about their philanthropy, especially since the pandemic inflated the fortunes of the top 0.1% while devastating the broader economy.

Their critics’ loudest complaint: You should be giving your money away much faster.

Since splitting from the world’s richest man in 2019, MacKenzie Scott has shown how it might be done. The ex-wife of Amazon.com Inc. founder Jeff Bezos has donated $8.5 billion in about 12 months, distributing the cash among hundreds of small organizations typically overlooked by big donors.

“It’s really kind of stunning what’s she’s done and how different an approach she’s taken,” said John Arnold, a billionaire hedge fund manager who retired in 2012 to devote himself full-time to philanthropy. “I’m hopeful that more people will follow that model.”

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