My Blog
Real Estate

Billionaire MacKenzie Scott Donates Two Beverly Hills Mansions With A Combined Value of $55 Million

Billionaire, advocate and philanthropist MacKenzie Scott recently donated two Beverly Hills mansions jointly valued at $55 million to the California Community Foundation, a nonprofit that has served Los Angeles since 1915.

“We are grateful to MacKenzie Scott for investing in our community. Her partnership will enable CCF to grow our reach in the community by providing additional grants to nonprofits in L.A. County that are building affordable housing or advocating on behalf of tenants. We are honored that her team felt confident in our ability and expertise to handle a gift of two multimillion-dollar homes,” said California Community Foundation Marketing Director Paula Valle.

The two single-family homes are located on North Alpine Drive in Beverly Hills. One four-bedroom mansion, built in 1956, spans 4,568 square feet with six bathrooms. The second residence features seven bedrooms and seven bathrooms in 11,891 square feet of living space and was built in 1994.

Valle said the foundation would allocate 90% of sale proceeds to the group’s affordable housing grantmaking. Valle added that the remaining funds would advance opportunities for immigrants living in Los Angeles County.

California Community Foundation President & CEO Antonia Hernández said the group has granted more than $30 million to affordable housing in Los Angeles since 2000.

“Ms. Scott’s gift will permanently support the expansion of these grantmaking efforts,” Hernández added.

Scott is an author and the ex-wife of Jeff Bezos, one of the world’s wealthiest people, according to Forbes. Scott was married to the Amazon founder for 25 years and received a 25% stake in Bezos’ holdings in the online retailer as part of their 2019 divorce. Scott is ranked No. 30 on the Forbes list of the Richest People in the World and has a fortune estimated at $43 billion.

This is not the first housing donation the foundation has received from Scott.

Scott gifted $20 million to the group in 2021 to establish an L.A. arts endowment.

Since 2012, Valle said the foundation has received about 25 property donations — 35 percent commercial and 65 percent residential.

Hernandez appreciates Scott’s gift.

“Her singular commitment . . . to transformative philanthropy has already secured the long-term future of dozens of nonprofits. With the California Community Foundation, her generosity will support organizations struggling to solve some of the most intractable issues facing our community. We are grateful for her partnership,” Hernández said.

Related posts

14 Easiest Puts to Spend money on California in 2022


A pot of federal cash remains to be to be had to suffering house owners


Zillow Zestimate: Is It Correct for Buyers?


Leave a Comment