MacKenzie Scott is giving away two Beverly Hills mansions worth a combined $55 million, CNBC reports.
Scott, whose net worth is $38.2 billion, donated both homes to the California Community Foundation, which provides grants to nonprofits in Los Angeles.
The foundation plans to sell both homes and use 90% of the proceeds to fund affordable housing initiatives.
The other 10% will go toward an immigrant integration program.
"We have in Los Angeles' critical need for affordable housing that is linked to the homelessness crisis we are experiencing, and the cure for homelessness is homes," says senior vice president Jarrett Barrios.
Scott and ex-husband Jeff Bezos bought one home for $24.4 million in 2007 and the second for $12.9 million a decade later. Read the Entire Article
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