MacKenzie Scott Sells Over $10 Billion in Amazon Shares, Continues Philanthropic Efforts
Philanthropist MacKenzie Scott is making headlines again with her substantial Amazon stock sales, amassing over $10 billion as per recent filings. This move in 2023 involved the sale of nearly 65.3 million Amazon shares, marking a significant financial shift since her 2019 divorce from Amazon founder Jeff Bezos, which positioned her as the world’s wealthiest woman.
In the divorce settlement, Scott received approximately 19.7 million Amazon shares, roughly 4% of the company’s total outstanding shares. Her strategy since then has been to progressively liquidate portions of this Amazon stake, channeling billions into charitable donations.
Despite Bezos retaining voting rights over Scott’s shares, which necessitated his disclosure of them while reporting his 11.5% stake in Amazon to the SEC, Scott’s philanthropic journey has been distinct and impactful. In 2019, she notably joined the Giving Pledge, aligning with influential figures like Warren Buffett, Bill Gates, and Mark Zuckerberg in committing to donate the majority of her wealth.
While Bezos, not a signatory himself, has expressed intentions to allocate most of his fortune towards combating climate change and fostering global unity, Scott’s philanthropic actions have been concrete and immediate. In a recent announcement, her foundation, Yield Giving, reported donations totaling $2.15 billion over the past year, benefiting 360 organizations.
Despite the massive scale of her Amazon share sell-off, Scott’s net worth remains substantial, exceeding $37 billion according to Bloomberg’s Billionaire Index. Her ongoing financial maneuvers and generous philanthropy continue to shape her legacy and impact on society.