Most billionaires practice 'slow philanthropy.' MacKenzie Scott is a major exception

Key Points:

• MacKenzie Scott has given away over $26 billion in just a few years, a significantly faster pace than typical billionaire philanthropy, which usually involves giving a small, steady percentage of wealth annually.
• Research from the Bridgespan Group shows that ultra-wealthy families typically give around 1.2% of their assets yearly, a figure that has remained stable despite increasing fortunes, a pattern termed "slow philanthropy."
• Critics, including the Institute for Policy Studies, argue that many billionaires do not fulfill their Giving Pledge commitments, with most pledgers retaining or growing their wealth rather than donating it.
• Scott's philanthropic approach is distinguished by "trust-based philanthropy," providing unrestricted funding and minimal oversight, empowering organizations to use funds flexibly and quickly, contrasting with the more cautious and controlled giving styles of other billionaires.
• Experts like Bridgespan cofounder Jeffrey Bradach suggest that speeding up philanthropy requires a mindset shift towards generosity and moral obligation, exemplified by Scott, who views her wealth as something to be given rather than managed.