BEVERLY HILLS—Billionaire and philanthropist, Mackenzie Scott donated two of her Beverly Hills mansions to The California Community Foundation in Los Angeles, with the transfer of property on July 29.
The value of the homes is estimated to be approximately $55 million. Jarrett Barrios, Senior Vice President of Charity, and Programs for the California Community Foundation indicated that they are not the sole benefactors of Scott’s generosity.
“We are one of many, many organizations who have benefitted from the generosity of Ms. Scott. The bulk of it is going to support our housing portfolio. That is programs that invest in creating more affordable housing but also support tenants’ efforts to stay in their housing,” Barrios stated.
The foundation plans to sell the property and use the money to fund projects. The California Community Project is an organization that works as a non-profit. They operate on grants and rely on the generosity of others to go toward education, immigration, health, and housing.
This is Scott’s second large donation to the foundation. She donated $20 million in 2021 to fund the LA Arts Endowment Fund to support diverse, small to mid-sized art organizations in Los Angeles and the surrounding area.
Mackenzie Scott is the ex-wife of the founder of Amazon, Jeff Bezos. She holds a four percent stake in the company. Reports indicate that as of September, Scott’s net worth of $33.4 billion making her the third-wealthiest woman in the United States.