2020 was certainly not the year that most of us expected it to be, and more than ever before, the spotlight was put on the world's wealthiest individuals to spread their fortunes to those in need. There are many groups and organizations that thrive on the generous donations bestowed upon them by those that are far more fortunate, and it was the world's richest man and his ex-wife who rose to the occasion in 2020. Jeff Bezos and MacKenzie Scott have been declared as being the most generous when it came to donations made to charity in 2020, and the amount that they gave to others will absolutely make an immense difference in so many people's lives.
According to Fortune, the value of the donation Jeff Bezos made was $10 billion, which was directed towards the fight against climate change.
Philanthropy 50 produces an annual ranking of the top American philanthropists , tracking the money they invest in good causes across the spectrum. It is these donors whose generosity serves as a massive vessel to push forward the waves of societal change.
When evaluating the most sizable contributions made by America's elite, it became apparent that the financial crisis caused by the pandemic affected all spectrums. Even among the rich and famous, the purse strings were tightened, and contributions overall shrank when compared to the year before. However, there were some notable, generous contributions that filtered through, with the focus being put on Jeff Bezos and his ex-wife's once again.
They used their incredibly generous $10 billion gift to launch the Bezos Earth Fund, which is dedicated to supporting non profitable groups that are involved in battling the climate crisis. According to the Chicago Tribune, this fund has already paid out $790 million to 16 groups, to date.
Comparing this sizable donation to that of the donations that were presented last year, it becomes apparent that Bezos had a genuine interest in providing funding through the enormous wealth that is at their disposal. He was also in the top spot for his hefty contribution in 2019, but he shared the top spot with Mark Zuckerberg as well. At that time, Bezos opted to contribute $100 million to Feeding America's replenishment of food banks across the United States, which was coincidentally the same dollar value as Zuckerberg's contribution.
The sizable donation made by Bezos is sure to make an immense difference and yet, the fact remains that donations were on a decline compared to what was expected. CBS News reports: "The sum total of the top 10 charitable donations last year — $2.6 billion — was the lowest since 2011, even as many billionaires vastly increased their wealth in the stock market rally that catapulted technology shares in particular last year."
Sources: Fortune, Chicago Tribune, Philanthropy 50