Beverly Hills Courier

News

Beverly Hills Courier
Beverly Hills Courier
Espelette Hero Square

Community News | News

Scott Donates Two Beverly Hills Homes to Foundation

The California Community Foundation has received a gift in the form of two single-family homes in Beverly Hills, jointly valued at about $55 million, from author and philanthropist MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos.

BY Beverly Hills Courier August 15, 2022
Scott Donates Two Beverly Hills Homes to Foundation
logoscott
Reading Time: 2 minutes

The California Community Foundation has received a gift in the form of two single-family homes in Beverly Hills, jointly valued at about $55 million, from author and philanthropist MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos. It is the second gift to CCF from Scott, who in 2021 gave $20 million to establish the L.A. Arts Endowment Fund, which supports diverse, small to mid-sized arts organizations in Los Angeles. The discretionary gift of the two homes allocates 90 percent of sale proceeds to the Foundation’s affordable housing grant-making efforts. The remaining funds will be allocated by CCF to support its immigrant integration program to advance opportunities for the millions of immigrants from throughout the world who call Los Angeles County home, according to the CCF.

The cost of housing stands out as one of the most critical issues affecting the lives of Los Angeles residents. A priority for Scott, the primary focus of the $55 million will be to permanently endow grant-making efforts to benefit Angelenos in need of affordable housing, the organization said.

The group said that since 2000, it has granted over $30 million to ensure Los Angeles residents have safe and stable homes, together with the economic opportunities they need to thrive. The foundation says it has also been an advocacy leader for increased affordable housing production, helping lead the passage of Proposition HHH, an initiative to add 10,000 new units in the city by 2026. Los Angeles is poised to exceed its target by funding 10,510 units in 178 projects, and Scott’s gift will permanently support the expansion of these grant-making efforts, the CCF said.

“We applaud and are grateful to MacKenzie Scott’s extraordinary philanthropic investment in Los Angeles,’’ CCF President and CEO Antonia Hernandez said. “Her singular commitment—here and across the country — to transformative philanthropy has already secured the long-term future of dozens of non-profits. With the California Community Foundation, her generosity will support organizations struggling to solve some of the most intractable issues facing our community. City News Service 

Sign in

Please sign into your account to access previous
e-editions of The Beverly Hills Courier.

  • {{ error }}
  • {{ error }}
Create Account

Please complete your details below to create an
account with The Beverly Hills Courier.

{{ errorMessages.email }}
{{ errorMessages.firstname }}
{{ errorMessages.lastname }}
{{ errorMessages.password }}
{{ errorMessages.confirmpassword }}

By creating an account, you agree to our Terms of Use.
We never share your data and you may unsubscribe at any time.

Password Reset

Please enter your email below to
start the password reset process.

  • {{ error }}
Account Profile

Please edit your account details below and tap
‘Update Account’ when complete.

{{ errorMessages.email }}
{{ errorMessages.firstname }}
{{ errorMessages.lastname }}
{{ errorMessages.password }}
{{ errorMessages.confirmpassword }}

No longer interested? Close Your Account.

Close Account

Enter your account email below and tap
‘Close Account’ to remove account.

  • {{ error }}