MacKenzie Scott donates $50 million to Prairie View A&M

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MacKenzie Scott announced on Tuesday her second major charitable contribution of the year, giving away nearly $4.2 billion to 384 organizations as part of a plan to donate a majority of her fortune.

"The pandemic has been a wrecking ball in the lives of Americans already struggling," Scott wrote in a Medium post. "Economic losses and health outcomes alike have been worse for women, for people of color, and for people living in poverty. Meanwhile, it has substantially increased the wealth of billionaires."

Scott gave $50 million to Prairie View A&M University in Texas — the school's largest donation ever, and nearly doubling its endowment, according to the university.

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The historically Black university can use the money for whatever it likes. School leaders have chosen to allocate $10 million to juniors and seniors who had dealt with financial challenges due to the COVID-19 pandemic. The rest of the money will go toward other university initiatives, including faculty development and recruiting, academic improvements and scholarships.

“This is a historic gift for Prairie View, coming at a time when the University had already decided and begun to invest heavily in key areas to strengthen its academic programs and improve student success,” President Ruth Simmons said in a statement. “The timing of this gift could therefore not be better.”

The donation increases Prairie View’s endowment nearly 40% to almost $130 million, making it one of the largest endowments at any historically Black college or university.

Last month, Prairie View received a $10 million donation from an anonymous donor to help students impacted by the pandemic.

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