From a $20 million endowment fund benefiting a New Orleans-based museum to $2.1 billion in yearly donations from MacKenzie Scott, these are some of the most notable developments in the philanthropic world.
Marc Benioff donates land and cash to combat Hawaii’s housing crisis
Tech billionaire Marc Benioff is giving 282 acres to a nonprofit based in Hilo, Hawaii, in an attempt to combat the state’s housing crisis. Located in Waimea on Hawaii Island, the land will be used by the Hawaii Island Community Development Corporation (HICD) to develop affordable housing units.
The nonprofit’s development plans will kick off with a 43-unit affordable housing project. The donation from Benioff, CEO of software company Salesforce, and his wife Lynne will also lead to the creation of community facilities like parks and open space.
In Waimea, 30 percent of the community are renters, with 10 percent paying more than half of their income in rent, according to Keith Kato, HICDC executive director. “That’s scary and simply not sustainable,” said Kato in a statement. “This is a tremendous opportunity to create affordable housing for the community.”
HICD, which has already developed almost 900 affordable housing units on Hawaii Island, isn’t just receiving land from the Benioffs. The gift also includes $7 million to help with site planning and infrastructure development, following a previous $1 million gift to HICD.
Benioff, who has an estimated net worth of $9.5 billion, has long been a prominent philanthropist. In 2010, he put $100 million towards the creation of a new hospital at the University of California, San Francisco. A decade later, the Benioffs pledged $200 million to aid tree planting and environmentally-focused entrepreneurs, a gift matched by a $100 million pledge from Salesforce.