Jeff Bezos announced he is donating $100 million to singer and philanthropist Dolly Parton for her to give away to the charitable groups she chooses. Bezos shared the news and a short video on Twitter on Saturday of an event at which he and his partner, Lauren Sanchez, gave the 2022 Bezos Courage and Civility Award to Parton.
Sanchez, in her remarks, explained that the award “recognizes leaders who aim high, find solutions, and always do it with civility. Each awardee receives $100 million to direct to the charities that they see fit.”
Upon receiving the award, Parton first said, “What? Did you say a hundred million dollars?” She went on to say, “When people are in a position to help, you should help,” per the video. “I know that I’ve always said I try to put my money where my heart is,” she continued. “I will do my best to do good things with this money. Thank you, Jeff.”
Parton is known for donating books to children through her foundation’s Imagination Library. She also donated $1 million toward the research behind Moderna’s Covid-19 vaccine. In July 2022, she was named an awardee of the Carnegie Medal of Philanthropy.
Her Dollywood Foundation is a public charity, which means that it brings in funding from anyone who wishes to donate to it. In 2020, the most recent year for which finances are available, the Dollywood Foundation made $3.6 million of contributions and grants.
In July 2021, Bezos named the first two recipients of this award: World Central Kitchen founder Jose Andres and TV personality and Dream Corp founder Van Jones.
On Monday November 7, filings showed that Bezos made the biggest donation of Amazon stock so far this year—a gift of $174 million of shares to unspecified charitable organizations. It’s possible that part of the recent gift of stock was to a charitable vehicle controlled by Parton.
A spokesperson for Bezos has not yet replied to a request for comment.
Bezos is the currently the world’s fourth-richest person, worth an estimated $124 billion, according to Forbes. His lifetime giving is estimated by Forbes at $2.4 billion, not including this new gift.
presented the award to Parton for her philanthropic work on Saturday, according to a tweet from Bezos. “She gives with her heart,” Bezos said during the award presentation.“What she's done for kids, literacy and so many other things is just incredible.”
Bezos chose Parton this year because “she gives with her heart,” he explained in a video posted to his Twitter account. “What she's done for kids, and literacy, and so many other things, is just incredible,” he added.
The latest gifts bring Bezos' total giving to nonprofit groups to $3 billion, Forbes calculates, which is just under 2% of his current $166 billion net worth.
Due to the fact that Dolly Parton has a net worth of $650 million, she is not a billionaire. However, it has been speculated that the singer could have achieved billionaire status if she were not so generous with her money, constantly investing in many philanthropic endeavors.
Dolly Parton had an estimated net worth of $375 million in 2022, according to Forbes. Her music catalog is worth about $150 million, but her Dollywood theme parks are her biggest asset. She's given over 100 million books to children and donated $1 million towards the Moderna vaccine.
Dolly Parton and her love story with husband Carl Thomas Dean began in 1964 outside a local laundrette, a modest setting that birthed a decades-long romance. From their first meeting at 18 to exchanging vows within two years, Dolly and Carl's love has always been in the spotlight.
To tally their wealth, Forbes used stock prices and exchange rates from March 8, 2024. Bernard Arnault and his family are at number one, with a net worth of $233 billion. Arnault is head of LVMH, a luxury fashion and cosmetics conglomerate in France.
Bezos' worth is largely tied to the shares he owns in Amazon. A filing with the Securities and Exchange Commission showed that as of November 2023, he owned 988 million shares. Those shares were valued at about $143 billion in early December. Investments in other companies and property also contribute to his wealth.
Jeff Bezos gives Dolly Parton $100 million to spend on charities of her choice The singer and entrepreneur famously has used her success to help others, especially in areas of education. The gift matches two by Bezos last year to chef Jose Andrés and activist Van Jones.
The $100m donation to Parton is the third Bezos has made as part of his Courage and Civility award, after similar grants to the chef José Andrés and the climate advocate Van Jones. “All she wants to do is bring light into other people's worlds,” said Sánchez.
Parton's estimated annual income, mostly coming from her song royalties is said to be over $85 million. Owning her life's work has been a strategic move for Parton since launching her music publishing company in 1966. Dolly Parton's net worth is a reflection of her diverse ventures.
Introduction: My name is Pres. Carey Rath, I am a faithful, funny, vast, joyous, lively, brave, glamorous person who loves writing and wants to share my knowledge and understanding with you.
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