Mackenzie Scott's $50 million grant is the largest in Cal State East Bay’s history and a major boost to its 250 million dollar operating budget.
University President Cathy Sandeen said she got the call a few weeks ago. She announced the unrestricted gift on Friday, calling the moment “transformational” in a LinkedIn post.
The university has not yet said how the money will be used, but Sandeen said much of it will likely go into the school’s permanent endowment. She’s also interested in expanding student employment options and investing in the career center.
Cal State East Bay has been recognized for its diversity — 62% of its students are the first in their family to go to college. But the school has also faced challenges in recent years, most notably a significant drop in enrollment, which led to a $13 million deficit this year.
Mackenzie Scott is the ex-wife of Amazon-founder Jeff Bezos. She announced in 2019 that she would give away the majority of her money, writing in a letter, “I will keep at it until the safe is empty.”
The following year, Scott began giving large sums to nonprofits. She has sent over a billion dollars to universities, colleges, and other higher education organizations just this year.
UC Merced announced yesterday that it had also received a gift of $38 million.
