Elon Musk Calls Jeff Bezos' Ex-Wife MacKenzie Scott's $19 Billion Charitable Donations 'Concerning'

Tesla Inc. CEO Elon Musk has raised fresh concerns about MacKenzie Scott‘s charitable donations, highlighting growing tensions over billionaire philanthropy and its societal impact.

What Happened: Responding to a social media post about Scott’s donations to liberal nonprofits, Musk offered a one-word critique: “Concerning.” The comment came after author John LeFevre highlighted Scott’s contributions to organizations focused on racial equity, social justice, and LGBTQ+ rights.

Don’t Miss:

• Are you rich? Here’s what Americans think you need to be considered wealthy.

• Can you guess how many retire with a $5,000,000 nest egg? The percentage may shock you.

Scott, who received Amazon.com Inc. shares worth billions in her 2019 divorce from Jeff Bezos, has emerged as one of America’s most prolific philanthropists. Through her Yield Giving organization, she has donated over $19 billion to more than 2,450 nonprofits since 2019, while maintaining a net worth above $30 billion due to Amazon’s stock performance.

This marks Musk’s latest criticism of Scott’s giving. In March, he suggested in a now-deleted post that “super rich ex-wives who hate their former spouse” could contribute to the decline of Western civilization. Shortly after his comment, Scott announced an additional $640 million in donations to 361 organizations.

See Also: ‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.26/share with a $1000 minimum.

What Happened: Scott recently sold 11% of her Amazon holdings, valued at over $8 billion, signaling a shift toward mission-aligned investments rather than traditional portfolio management.

The debate over billionaire philanthropy has drawn in other prominent voices, including Melinda French Gates, who has publicly supported Scott’s rapid-giving approach while criticizing other tech billionaires, including Musk, for prioritizing public influence over charitable giving.

In a recent New York Times interview, French Gates questioned whether certain tech leaders should even be called philanthropists, suggesting they use their platforms primarily to shape public opinion rather than contribute meaningfully to charitable causes.

Her giving strategy contrasts sharply with other tech billionaires, including Musk, who has focused his recent attention on political causes, including substantial support for President-elect Donald Trump‘s campaign.

Scott’s donations for 2024 include significant support for economic security initiatives and repeat grants to organizations like CAMFED, which supports girls’ education in Africa, demonstrating her continued commitment to addressing systemic inequalities despite criticism from fellow billionaires.

Read Next:

• The global games market is projected to generate $272B by the end of the year — for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.

• It’s no wonder Jeff Bezos holds over $70 million in art — this alternative asset has outpaced the S&P 500 since 1995, delivering an average annual return of 11.4%. Here’s how everyday investors are getting started.

Image via Flickr

"ACTIVE INVESTORS' SECRET WEAPON" Supercharge Your Stock Market Game with the #1 "news & everything else" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now!

Get the latest stock analysis from Benzinga?

This article Elon Musk Calls Jeff Bezos' Ex-Wife MacKenzie Scott's $19 Billion Charitable Donations 'Concerning' originally appeared on Benzinga.com

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.