M
acKenzie Scott, billionaire philanthropist and ex-wife of Amazon founder Jeff Bezos, has donated $30 million to support affordable housing in the Bay Area. The funds will be allocated by Housing Trust Silicon Valley, a San Jose-based nonprofit that develops affordable housing across the region. This donation is part of Scott's Yield Giving initiative, established after her divorce from Bezos in 2019.

    Since launching the initiative, Scott has donated $17.3 billion to over 2,300 nonprofits, covering various causes including education and health. The Housing Trust plans to use the funds to accelerate its work on addressing the Bay Area's growing affordable housing crisis. Early ideas for the donation include seeding a new capital campaign and expanding programs to foster greater equity and affordability in housing.

    Housing Trust Silicon Valley has been working towards creating more affordable homes since 2000, investing $615 million to develop over 50,900 units across the region. The nonprofit focuses on public-private partnerships and first-time homebuyer assistance. Cities and counties in the Bay Area are required by the state to plan for 441,176 new homes by 2031 to meet rising demand.