MacKenzie Scott Sells Billions in Amazon Stock for Philanthropy
Billionaire philanthropist MacKenzie Scott has significantly reduced her holdings in Amazon.com, divesting approximately 42% of her stake since last year, according to a recent report by Bloomberg News, which cited a regulatory filing. This move underscores her ongoing commitment to large-scale charitable giving.
The latest disclosure, dated September 30, reveals that Scott now holds 81.1 million shares in the e-commerce giant. This figure represents a decrease of 58 million shares compared to her holdings a year prior. Based on Amazon's closing price on Tuesday, the reduction in her stake is valued at an estimated $12.55 billion. While Bloomberg's report is based on a regulatory filing, Reuters noted it was unable to independently confirm the details of the filing.
MacKenzie Scott, the former wife of Amazon founder Jeff Bezos, initially received a substantial 4% stake in Amazon as part of their 2019 divorce settlement. At the time, this portion of the company was valued at $36 billion. Since then, Scott has become one of the world's most prolific philanthropists, consistently donating vast sums of her wealth to a diverse array of non-profit organizations.
In a related filing with the U.S. Securities and Exchange Commission, made in Jeff Bezos' name, it was stated that he beneficially owned over 964 million Amazon shares as of September 30. This total includes 81.1 million shares over which Bezos exercises sole voting authority. Amazon did not provide an immediate response to Reuters' request for comment regarding these filings.
Scott's philanthropic efforts have been extensive and impactful. According to her Yield Giving website, she has already donated more than $19.25 billion to over 2,450 non-profit teams across various sectors. This recent reduction in her Amazon stake is consistent with her publicly stated intention to give away the majority of her fortune, channeling significant resources towards organizations working to address pressing global challenges.
