MacKenzie Scott, the ex-wife of Amazon’s founder, Jeff Bezos, divested approximately $10 billion worth of Amazon shares last year, marking a significant financial move.
Following the finalization of her divorce, Scott initially held a substantial 4% stake in the company. However, a recent regulatory filing, initially reported by Bloomberg, reveals that she offloaded 65.3 million shares in Amazon.com Inc. in the past year, equivalent to approximately a quarter of her stake in the company.
Had she retained these shares, their value would now amount to an impressive $10.4 billion, based on Friday’s closing price. Presently, Scott’s ownership in the tech giant stands at approximately 1.9%, showcasing a strategic adjustment in her investment portfolio.
Post her divorce from Jeff Bezos in 2019, Scott acquired around 4% of the tech giant, constituting a stake valued at approximately $37 billion at that time.
Despite parting ways with roughly half of her shares over the last five years, Amazon continues to dominate her financial portfolio, contributing significantly to her current net worth of $37.6 billion, as reported by the Bloomberg Billionaires Index. This underscores the enduring impact of her association with Amazon on her overall wealth, even as she strategically manages her investment holdings.
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What you should know
At 53, MacKenzie Scott stands among the top 5 oldest female billionaires, commanding a staggering net worth exceeding $35 billion. Nairametrics previously reported her substantial financial growth, noting a $10.5 billion increasewithin a mere two months.
- Earlier assessments in April 2023 pegged her net worth at $24.4 billion, but the latest figures reveal an impressive surge to $34.9 billion, marking a notable 43.03% uptick in her wealth over a relatively short period.
- Scott’s financial success, however, is intertwined with her remarkable philanthropy.
- Despite her fortunes potentially being more substantial, she has generously donated over $16.5 billion to diverse charitable causes since her split from Bezos. This remarkable generosity extends to more than 360 organizations, which collectively received $2.15 billion in the past year.
In a notable act of philanthropy, Scott made an unrestricted $12 million donation to Howard University College of Medicine. This contribution, according to Dean Andrea A. Hayes Dixon, M.D., will be utilized to establish an innovative center in collaboration with the College of Engineering and Architecture. Notably, this marks Scott’s second significant contribution to Howard University, following a groundbreaking $40 million donation in 2020—the largest single donation in the institution’s history.
Scott, a Princeton University graduate and former student of Howard alumna Toni Morrison, signed the Giving Pledge in 2019. This non-binding commitment is a promise made by billionaires to donate the majority of their wealth. In a letter on the Giving Pledge website, she expressed her intention to approach philanthropy thoughtfully, emphasizing a continuous dedication to charitable giving until her resources are exhausted. (Nairametrics)
