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MacKenzie Scott, ex-wife of Amazon founder Jeff Bezos, has reportedly given nearly $1.7 billion to various charities, including several HBCUs.
Scott has gifted $150 million to several historically Black colleges and universities (HBCUs), including Xavier University, Tuskegee University, HamptonUniversity, Spelman College, Morehouse College, and Howard University.
“I would like to thank Ms. Mackenzie Scott for her investment into Howard University and our 153-year mission of serving a diverse community of dynamic scholars who come here for an education and leave here with purpose to serve the world,” Howard University President Wayne A. I. Frederick previously said in a statement. “We plan to immediately put this eight-figure gift to good use to support components of our 5-year strategic plan to help students graduate on time, retain our talented faculty, enhance our campus infrastructure and support academic innovation and entrepreneurship.”
So what are the HBCUs doing with the millions?
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ATLANTA – JULY 18: Spelman College (founded 1881) on July 18, 2015 in Atlanta, Georgia. (Photo By Raymond Boyd/Getty Images)
As Moguldom reports, Xavier University in New Orleans used the funds to address the vital needs of its students.
“These students were one of the biggest priorities for the donation, so three-fourths — $15 million — was put into an endowment for need-based scholarships that Verret hopes will yield around $600,000 to $700,000 a year. These funds are already being allocated to returning students and first-year students in the incoming class,” reported The Plug.
Below is an edited list from Moguldom of the universities that received Bezos’ millions and how the funds are being utilized. Per the report:
Tuskegee University: $20 million went to Tuskegee, the largest single donation in the school’s history. No update on how the funds have ultimately been used.
Morgan State: It received a $40 million gift— the largest single private donationin its history. No update on how the funds have ultimately been used.
Hampton University: Scott donated $30 million to Hampton. No update on how the funds have ultimately been used.
Spelman College: $20 million went to Spelman. No update on how the funds have ultimately been used.
Morehouse College: $20 million went to the men’s college. No update on how the funds have ultimately been used.
Howard University: A donation of $40 million went to Howard and was the largest gift from a single donor to the school. No update on how the funds have ultimately been used.
Read the full breakdown of the list of HBUC recipients here.
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