Billionaire MacKenzie Scott Is Donating Two of Her Homes to Fund Affordable Housing Initiatives
MacKenzie Scott is donating two mansions worth a combined $55 million to fund affordable housing initiatives in LA
March 24, 2023
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MacKenzie Scott, formerly married to Jeff Bezos, recently donated two of her Beverly Hills homes to the California Community Foundation (CCF), which provides grants to mission-based nonprofits in Los Angeles.
The organization plans to sell both homes and use 90% of the earnings to fund affordable housing initiatives. The homes are worth a combined $55 million, CNBC reports.
It’ll take a while before the mansions turn into usable money: CCF needs to market and sell the homes before deciding which organizations will receive annual grants from the proceeds, [Jarrett] Barrios says. The organization’s eventual goal is to build and maintain affordable housing units for low-income people in Los Angeles, and fund housing justice programs that help tenants access information and apply for rental assistance programs, he adds.
