Kendra Scott donates millions to University of Texas for women leadership

Austin-based jeweler Kendra Scott is donating big bucks to expand a women's entrepreneurship institute that already carries her name.

Driving the news: Announced Monday night, Scott's $13.25 million donation to the University of Texas will bankroll an endowment to underwrite the Kendra Scott Women's Entrepreneurial Leadership Institute, to train women and others who are traditionally underrepresented in top business roles.

• Scott's fortune was pegged by Forbes in 2021 at $800 million.
• She famously started making jewelry in a spare room in her Austin home in 2002 after failing to find affordable, colored gemstone jewelry.
• The brand now has more than 115 stores across the U.S.

Details: $10 million of the donation is a personal contribution, and $3.25 million comes from her corporate company.

• Since launching in 2019, the institute has supported more than three dozen women-led startups.

What they're saying: "This gift is about supporting the next generation of women entrepreneurs," said Scott, who is also a professor of practice at UT's College of Fine Arts. "Through this new gift, women will continue to dismantle barriers and forge ahead to redefine entrepreneurship for many years to come."

• "Kendra's investment will transform the lives of thousands of future leaders, and all of society will reap the benefits," Jay Hartzell, president of UT Austin, said.