MacKenzie Scott, the former spouse of Jeff Bezos, made a bold first announcement about how she plans to fulfill her Giving Pledge to give away most of her wealth, currently valued at $52 billion.

In her statement on Medium, MacKenzie Scott announced $1.67 billion in direct grants to 116 charities, mostly addressing racial injustice and other aspects of inequality.

“Donations from small donors have been on a twenty-year downward trend, as low- and middle-income donors feel the squeeze from stagnant wages, declining savings and homeownership, the Great Recession of 2008, and now the pandemic.”

We should approach billionaire giving announcements with a healthy skepticism, especially when it involves only 3 percent of their wealth. But her actions show a positive path forward at a time when philanthropy has become increasingly “top heavy” with billionaire power.

Read the full article at Common Dreams.

Chuck Collins directs the Program on Inequality and the Common Good at the Institute for Policy Studies. Follow him on Twitter @Chuck99to1.

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