MacKenzie Scott Reduces Amazon Holdings by $10 Billion, Prioritizes Philanthropy: Impact on Tech Giant and Global Charities

Last year, MacKenzie Scott, the renowned philanthropist and former spouse of Amazon founder Jeff Bezos, divested 65.3 million shares in Amazon.com Inc., marking a significant reduction in her stake within the company, as per regulatory disclosures.

The sale of these shares amounted to approximately $10.4 billion based on Friday’s closing price.

Following her divorce from Jeff Bezos in 2019, Scott retained roughly 4% ownership in the tech giant, valued at approximately $37 billion at the time. Despite her recent sell-off, Amazon remains the primary contributor to her current estimated net worth of $37.6 billion, according to data from the Bloomberg Billionaires Index.

Scott’s remarkable philanthropic endeavors have notably impacted her wealth trajectory. Since her separation from Bezos, she has committed over $16.5 billion to various charitable causes, underscoring her dedication to making a substantial societal difference. The list of beneficiaries, published on her official website, encompasses more than 360 organizations, receiving a cumulative sum of $2.15 billion over the past year alone.

Also read: MacKenzie Scott Continues Generous Donations, Giving Away $2 Billion This Year

In 2019, Scott pledged her support to the Giving Pledge initiative, a voluntary commitment where billionaires vow to allocate a significant portion of their wealth towards philanthropy.

Reflecting on her philanthropic mission, Scott conveyed, “In addition to whatever assets life has nurtured in me, I have a disproportionate amount of money to share. My approach to philanthropy will continue to be thoughtful. It will take time and effort and care. But I won’t wait. And I will keep at it until the safe is empty.”

Despite her notable actions, Scott has not provided further comment on her recent divestments.

In contrast, Jeff Bezos, with an estimated net worth of $184.1 billion, has not formally joined the Giving Pledge initiative. However, in a 2022 interview with CNN, he articulated his intentions to allocate a significant portion of his wealth towards philanthropic causes in the future.

Scott’s decision to reduce her Amazon holdings echoes her steadfast commitment to philanthropy, leaving a substantial impact on both the tech giant’s ownership landscape and the global philanthropic community.