Jeff Bezos’ Ex-Wife, Billionaire Philanthropist MacKenzie Scott, Donates $70 Million To HBCUS
Good news!
Philanthropist MacKenzie Scott, ex-wife of Amazon founder #JeffBezos, has gifted $70 million to the United Negro College Fund to support its 37-member historically Black colleges and universities.
The funds will go into a pooled endowment designed to give each institution around $10 million, generating about a 4% annual return to help stabilize their budgets.
“This extraordinary gift is a powerful vote of confidence in #HBCUs and in the work of UNCF,” said #UNCF President Dr. Michael L. Lomax. He added that the donation “provides a once-in-a-generation opportunity for our member institutions to build permanent assets that will support students and campuses for decades to come.”