
Billionaire philanthropist MacKenzie Scott has donated $80 million to Howard University, making it one of the largest gifts to a college that has an African-American history.
The private, historically Black institution in Washington, DC, in a statement on Monday said that the unrestricted donation will support student aid, infrastructure, research initiatives and hospital operations among other things.
“Howard University has received a transformative $80 million unrestricted gift from philanthropist MacKenzie Scott ... one of the single largest contributions in the University’s history,” the institute said.
“This historic investment will strengthen student aid, support infrastructure improvements, advance research and health sciences, and sustain our mission of truth and service for generations to come,” it added.
This is not the first time that MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, has donated to the university.
She had donated money to the university in 2020 and 2023, with amounts of $40 million and $12 million respectively. When combined, Scott's donation to Howard stands at $132 million.
This also comes days after the billionaire philanthropist donated a record $38 million to Alabama State University (ASU), marking the largest single donation in the university's 158-year history.
Howard University said it will use the donation in various areas.
“The gift will be used to accelerate Howard’s momentum and impact at the forefront of higher education research and student development,” the university said.
Of the $80 million, $63 million will be allocated for general use at Howard University. The remaining $17 million will go to the College of Medicine of the university.
“Other aspects of the gift will be used to support the academic progress of the world-class student body, 70% of which has a large financial need,” Howard said.
The university further said, without naming the Donald Trump administration, that the recent changes to federal funding for college students has made the donation even more significant.
MacKenzie Scott, a novelist and philanthropist, is known for her benevolent donations.
She was an early contributor to Amazon, a company that her ex-husband started. She was married to Jeff Bezos from 1993 to 2019.
Following her divorce with Bezos, MacKenzie Scott retained approximately 4% of the e-commerce and tech giant.
According to the Bloomberg Billionaires' Index, MacKenzie Scott ranks 54th with a net worth of $40.1 billion. Since her divorce from Bezos, Scott has donated approximately $19 billion to charity, as per the index.
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.