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Jeff Bezos’s ex-wife has made it her mission to offload as much of the fortune she gained from their divorce as possible.

The billionaire philanthropist has continually donated large funds to nonprofit organisations that build “homes, communities and most of all, hope,” and is now turning her bank card towards the housing crisis in California.

Scott gave an “unexpected gift” of $15 million (R277 million) to California-brd Century Housing, which finances, builds, and operates multi-family rental housing throughout the state, reported Fortune.

She had also made an $8 million gift to San Francisco-brd BRIDGE Housing in September, and a $20 million (R371 million) donation to the San Francisco Community Land Trust.

Rent has basically been eating the earnings of many Southern California residents. If you think getting an affordable spot in Cape Town is bad, think again, because the average monthly rent for a Los Angeles apartment is more than $2,700 (R50,000) – according to RentCafe, an internet listing service for rental properties.

“Our work is more urgent than ever as rents continue to rise, putting more Californians at risk of housing instability, including groups like the working poor and seniors,” a Century Housing spokesperson tells Fortune.

“We will use this remarkable gift to increase the supply of affordable housing in SoCal through our investments and developments, working with our many partners to provide housing security for more residents—and to ultimately build more equitable, thriving communities.”

As for owning a home in San Francisco? Most people can forget about it. The average home price there is more than $1,2 million (R22,3 million) according to Zillow, although it’s down by 9% year-over-year.

Anyway, Scott’s unrestricted donation will help the organisation invest in more affordable housing projects, including a permanent supportive housing site in San Francisco and a supportive housing project in Los Angeles.

According to the Yield Giving page, Scott has given away more than $14 billion (R260 billion) to more than 1,600 non-profit organisations focused on solving a variety of problems since making her Giving Pledge in 2019.

Scott’s net worth is still at $38,1 billion (R707 billion), according to Forbes, so she is well positioned to be the gift that keeps on giving.

[source:fortune]