UTRGV received a $40 million donation from two philanthropists who pledged to donate most of their wealth during their lifetime.
UTRGV announced the donation in a press release that thanked philanthropists MacKenzie Scott and Dan Jewett for the donation. UTRGV President Guy Bailey stated in the statement that the donation will provide the money for a much-needed scholarship for students during their educational journey.
“This is really a significant day for UTRGV that should be celebrated by all of us. We are extremely grateful to Ms. Scott and Mr. Jewett for their incredible generosity,” said Bailey in the press release. “This gift and the support we continue to receive from many others will help UTRGV continue to transform the Rio Grande Valley and much more.”
Scott is the ex-wife of Amazon founder Jeff Bezos and one of the richest people in the world, according to CNN. She is participating in the Giving Pledge movement, where philanthropists pledge to donate most of their wealth to charitable causes over their lifetimes.
Scott and Jewett recognized UTRGV for its success as the second largest Hispanic institution, according to the press release.