Amazon founder Jeff Bezos has long been donated by the press for a very short period of time, which he gives to the charity, despite his massive $ 194 billion net worth. In 2020, he set things to be a little different and topped the list of most philanthropists of the year. Bezos donated $ 10 billion to launch the Bezos Earth Fund and $ 100 million to feed America. Bezos recently announced that he was stepping down as CEO of Amazon to focus more time on philanthropy and other projects.
Now, that said, there is some controversy over Bezos’ donation. It is true that he donated $ 10 billion to the Bezos Earth Fund. However, compared to his ex-wife, who was transparent about where her nearly $ 6 billion in donations are going, Bezos is fed up with how $ 10 billion will be spent … or when will it be. We do not know how the donation is structured, if the money is set aside for the Bezos Earth Fund, or indeed there is nothing about it in February, other than that Bezos publicly announced that $ 10 billion. I promised. There is a definite lack of transparency in philanthropy that does not just apply to Jeff Bezos, but he is the biggest example of it this year. If Bezos’s $ 10 billion was not on the list, the 50 largest donors of 2020 would not have broken any records.
The list of largest donors does not focus exclusively on nonprofits. Sometimes it prioritizes donations to charitable vehicles – including foundations – which then turn around and donate to nonprofits. Bezos’ pledge of $ 10 billion in the Bezos Earth Fund is considered a donation to a charitable vehicle. But then, where is that $ 10 billion? Did Bezos really put it in his foundation or a donor-advised fund or an LLC? Or is it more of an open-ended promise to donate? Mark Zuckerberg and Priscilla Chan vowed to donate 99% of their money to philanthropy in 2015 and it was not counted as part of that year’s list, so why is Bezos this year? Is it only because this is a good story about a very rich man who up to this point had not donated nearly enough to philanthropy?
If we snatch the totality of $ 10 billion and see what Bezos actually donated, he will receive a $ 790 million donation to the Bezos Earth Fund to climate groups and a $ 100 million donation he has made to Feeding America. K has done more than 200 chapters. He would therefore receive $ 890 million in donations, which would place him in sixth place for 2020 with his ex-wife McKenzie Scott, ranked # 1 on the most charitable list. And in a way, it is fitting, as Scott has proved his deep commitment to philanthropy that when he signed The Giving Pledge, the ink on his divorce decree had dried up.
Bezos’ ex-wife, McKenzie Scott, finished second. Scott donated $ 5.7 billion in 2020. As part of her divorce settlement, she was given 20 million shares of Amazon, which is approximately billion of the joint holdings of Jeff and McKenzie when they married. As of this writing, it is valued at $ 60 billion. Upon receiving the agreement, he pledged: “…Give the majority of my money back to the society that helped generate it, to do it thoughtfully, to start soon, and to keep it until the vault is empty.“McKenzie gave seven and eight-figure gifts to 512 organizations including food organizations, racial justice charities, human service organizations and HBCUs.
Former New York City Mayor Michael Bloomberg came in third. He donated $ 1.6 billion to arts, education, public health and other causes. Naik founder Phil Knight and his wife Penelope came in fourth place with a $ 1.4 billion donation. His Knight Foundation received $ 900.7 million. Square and Twitter CEO Jack Dorsey donated the top five with $ 1.1 billion to a fund that has disbursed at least $ 330 million to more than 100 nonprofits.
Sixteen of the top 50 donors made their fortune in the technology industry. Twenty of them live in California.
Other notable donations include $ 65 million given by Charles and Helen Schwab to address the homeless in San Francisco, $ 120 million donated by Reed Hastings and his wife Patty Quillin to provide financial assistance to students at HBCUs , $ 50 million donated by basketball to racial and social justice groups. Legend Michael Jordan, and $ 25 million were donated by Airbnb’s Joe Gabia to two San Francisco charities trying to solve the homeless problem in the city and help those facing economic challenges due to the epidemic.
Elon Musk, currently the world’s richest person, did not crack the top 50. In fact, their lifetime donations equal approximately 0.05% of their total assets.
Other philanthropic billionaires, such as Warren Buffett, do not appear on the list because, in Buffett’s case, their donations were part of an earlier pledge. For Buffett, his donations were reported to the Bill and Melinda Gates Foundation in 2006, when he pledged.
The top 50 donors contributed $ 24.7 billion in 2020, significantly higher than the $ 15.8 billion in 2019.
# 10 Denny Sanford
Amount: $ 224.2 million for various donations
# 9 Frederick and June Coomer
Amount: $ 300 million to Kummer Institute Foundation
Industry: Frederick is a construction magnate, June is an architect
# 8 Pierre and Pam Omidyar
Amount: $ 440 million to various charities
Industry: Founder of eBay
# 7 Eric and Wendy Schmidt
Amount: $ 469.6 million
Largest donation: $ 353.3 million to Eric and Wendy Schmidt Fund for Strategic Innovation
Industry: Former CEO Google
# 6 John and Laura Arnold
Amount: $ 569 million
Largest donation: $ 482 million to the Laura and John Arnold Foundation
Industry: Retired hedge fund manager
# 5 Jack Dorsey
Amount: $ 1.1 billion to donor-advised funds
Industry: Founder / CEO Square and Twitter
# 4 Phil and Penelope Knight
Amount: 1.4 billion dollars
Largest donation: $ 900.7 million to Knight Foundation
Industry: Nike co-founder
# 3 Michael Bloomberg
Amount: $ 1.6 billion for various donations
Industry: Founder of Bloomberg Financial News Company
# 2. Mackenzie scott
Amount: $ 5.7 billion for various donations
Industry: author, Amazon shareholder
# 1 Jeff Bezos
Amount: $ 10.2 billion
Largest donation: $ 10 billion to Bezos Earth Fund
Industry: Founder of Amazon