Melinda French Gates follows in MacKenzie Scott's philanthropic footsteps

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In the 1996 comedy First Wives Club, Ivana Trump makes a memorable appearance and shares a clever piece of advice post-divorce: “Don’t get mad, get everything.” Fast forward to 2024, and a new version of this sentiment is emerging among a group of billionaire women. It now includes a twist: Get everything, and then give it all away as quickly as possible.

MacKenzie Scott, a prominent American philanthropist, has decided to distribute her wealth from her divorce with Jeff Bezos in 2019 in a unique way. Following her example, Melinda French Gates seems to be adopting a similar approach in her own philanthropic efforts after separating from her ex-husband, Bill Gates.

French Gates recently shared in an essay in the New York Times that her initial focus for her independent philanthropic work will be on promoting women's rights globally.

French Gates mentioned that she is trying out new approaches by giving $20 million grants to 12 individuals and allowing them to use the funds as they deem fit. She expressed excitement about gaining insight into different funding opportunities through their perspectives.

This type of unrestricted giving is not commonly seen in the traditional bureaucratic world of philanthropy. However, it is not unprecedented, largely due to the unique and trust-based approach that women, including Scott, have adopted towards giving.

Amir Pasic, the dean of the Indiana University Lilly Family School of Philanthropy, believes that many nonprofits struggle with the burden of complying with government grants and demonstrating their impact through a lot of red tape. He also notes that professional foundations prioritize measuring impact, but often overlook whether these measures are actually relevant to nonprofits.

Fortunately, there is a shift happening as more women are taking the lead in directing the distribution of billions of dollars in philanthropy.

According to research from the Women’s Philanthropy Institute, women are often more social and collaborative in their approach to giving, says Pasic.

Scott's giving style, which is generous, unrestricted, and consistently done without any public attention, stands out from the more methodical and top-down approach of large charitable foundations, such as the one French Gates helped start.

French Gates can now support organizations and communities of any size or impact, without being tied to a specific organization.

On the other hand, Scott and French Gates' ex-husbands may not receive as much recognition for their charitable efforts.

Bezos is known for making grand announcements about his future plans, a stark contrast to Scott's philanthropic efforts. In a 2022 interview with CNN, Bezos stated his intention to donate the majority of his wealth, which is currently estimated to be over $200 billion.

Despite his public statements, Bezos has not committed to the Giving Pledge, a common practice among the super-rich to publicly announce their charitable commitments. Furthermore, some of Bezos's significant pledges have faced criticism. For instance, he pledged $100 million to assist in the reconstruction of Maui following last year's wildfires. However, a report by Bloomberg in January revealed that local authorities and nonprofit organizations on the island had not received any funds from Bezos.

Gates, who has a net worth of $154 billion, has also received criticism for the methods of the Gates Foundation.

Journalist Tim Schwab recently pointed out in The Nation that Gates's immense wealth could have a significant impact if distributed directly to the poor rather than through the Gates Foundation's bureaucratic philanthropy approach.

Editor's P/S:

The article unveils a significant shift in the philanthropic landscape, particularly among affluent women like MacKenzie Scott and Melinda French Gates. These women are pioneering a new approach to giving, prioritizing unrestricted funding and empowering individuals and organizations with the freedom to allocate resources as they see fit.

This approach contrasts with the traditional bureaucratic model of philanthropy, which often burdens nonprofits with excessive reporting and impact measurement requirements. However, as more women assume leadership roles in distributing billions of dollars, there is a growing recognition of the value of trust-based and collaborative giving. Scott's generous and anonymous donations, as well as French Gates' focus on promoting women's rights globally, exemplify this transformative approach to philanthropy.