MacKenzie Scott Donates $70 Million to historically Black colleges and universities, 'no strings attached'

MacKenzie Scott, one of the world’s most prominent philanthropists, has just donated $70 million to UNCF, the nation’s largest private provider of scholarships to Black students.

The donation by Scott, whose net worth is currently valued to be around $34 billion, is set to reshape the financial future of 37 historically HBCUs (historically Black colleges and universities), as part of a $1 billion campaign.

The program, launched in 2o21, aims to help HBCUs close a funding gap compared to white or elite institutions, aiming to provide long-term financial stability and a permanent revenue stream for minority schools. [MORE]