MacKenzie Scott gifts $281 million to the Boys & Girls Clubs of America.
While her ex-husband Jeff Bezos continues to accumulate vast wealth, MacKenzie Scott is making good on her Giving Pledge promise with a donation of $281 million to the Boys & Girls Clubs of America non-profit organisation.
Having undertaken to give away most of her estimated $62.2 billion personal wealth, the American philanthropist, novelist and 4% Amazon stakeholder has followed up on previous large donations (to causes focusing on LGBTQ+ and racial equality, democracy, climate change and people affected by the economic impact of the COVID-19 pandemic) with gifts that will benefit 62 local Boys & Girls Clubs around the United States.
In Scott’s largest public gift so far, $25 million will go to the 160-year-old organisation’s head office in Atlanta, while the remaining $256 million will be distributed among local clubs providing after-school programmes for young people focused on homework, arts, STEM, leadership, mentoring, recreation and sports.
“Gifts like this are rare and have incredible impact,” said Jim Clark, president and chief executive officer of the Boys & Girls Clubs of America. “It’s a historic moment for our organisation and the clubs that received MacKenzie Scott’s significant support. We know now more than ever, that, with the right support system, positive mentorship and opportunities, kids can thrive.”
“She’s not going to the usual suspects,” said Tyrone Freeman, assistant professor of philanthropic studies at the Indiana University Lilly Family School of Philanthropy. “She’s really challenging people to think more broadly about groups which are really doing something for their communities.”
Stipple founder Ray Flemings launches UHNW luxury services marketplace
Ray Flemings, the billionaire founder of now-defunct image-tagging software Stipple, has launched Myria, a new private marketplace selling luxury services to family offices and the world's wealthiest people.
With many of the most sought-after services, experiences and philanthropic opportunities not always easily available, Myria aims to offer unique opportunities to ultra-high net-worth families and individuals.
Built exclusively for the 300,000 most successful people in the world, Myria will connect pre-vetted clients with off-market sellers focussing on experiences; travel and events; security and risk; impact and philanthropy; medical, health and wellness; major purchases and sales (such as estate, marine and aviation); hiring and staffing; and dating and matchmaking.
"Money can buy many things, but not everything,” said Fleming. “Myria is a circle of trust enabling our sellers to offer things to our members which cannot be offered elsewhere. Our product is designed to encourage members to have more fun and lead more impactful lives.
“The vacation homes the wealthiest want to rent are unlisted. The doctors they want don't practice at the local hospital. The concert and sport experiences they desire aren't sold by ticket brokers. The restaurants they want to eat at have eight-month waitlists. The charitable opportunities that would inspire them aren't easy enough to find.”
Before launching Myria, Flemings founded concierge services firm The Blue, which served 48 families with a combined net worth in excess of $400 billion. “For nearly 15 years, I've provided a small number of clients with access to off-market capabilities,” said Fleming. “But this was always done on a one-off basis. Creating an online platform enables us to provide access to off-market opportunities at scale.”
Christian Beck’s family office brings former Goldman Sachs boss on board
The family office of Australian tech entrepreneur Christian Beck has engaged senior Goldman Sachs Australia investment banker Chris Champion to help elevate their business globally.
Beck, who owns software services company ATI Global, which oversees legal tech firm Leap Legal and property search business InfoTrack, had previously worked closely with Goldman Sachs and Champion over the past decade, including a recent $1 billion refinancing deal.
Beck is listed on The Australian Financial Review’s (AFR) Rich List with an estimated net worth of $905 million. Meanwhile, Champion is, according to the AFR, regarded as one of the top leveraged finance bankers in the country, structuring debt deals and raising finance for corporate and financial investor clients. He had been at Goldman Sachs for more than 15 years.