MacKenzie Scott, the former wife of Jeff Bezos, is one of the most generous philanthropists in the world. She made a big donation of $19.25 billion to more than 2,450 nonprofit organisations via her initiative called Yield Giving. She recently (since last year) sold about 58 million Amazon shares for similar purposes. And this is the reason she holds 42% fewer shares in Amazon. What’s her current stake in the company? What is MacKenzie Scott planning to do with the money? Is it entirely going into charity? For all that, learn more.
Who Is Mackenzie Scott?
MacKenzie Scott is famously known as the former wife of Jeff Bezos, founder of Amazon. She made headlines everywhere after her divorce in 2019. As a divorce settlement, she received 4% of Amazon’s shares, which at the time were a whopping $36 billion.
What Happened to MacKenzie Scott’s Shares?
According to a recent report by Bloomberg News, MacKenzie Scott sold her 58 million shares. And this has caused a dip in her total Amazon holdings to 81.1 million shares. It’s about 42% low.
Mackenzie Scott Sold How Many Shares?
According to Amazon’s stock price as of Tuesday, these shares could be worth around $12.55 billion. Bloomberg reviewed a regulatory filing submitted to the U.S. Securities and Exchange Commission (SEC). On the other hand, Reuters (one of the top major news agencies) clarified that it can’t independently confirm this as of now.
What About Jeff Bezos?
A similar SEC filing showed that Jeff Bezos still owns more than 964 million shares in Amazon. About 81.1 million shares are under his sole voting authority. It means that Jeff Bezos can make any decisions directly.
To Fund Her Massive Charitable Giving…
Many reports say that the most likely reason is her charity work. And with this money, she will donate a portion of it via her Yield Giving.
She also launched her own website (yieldgiving.com) to make all the donation work transparent. Her primary goal is to donate most of her wealth during her lifetime.
She identifies organisations that are doing well in society, especially groups that focus more on equality, education, health care, racial justice, poverty relief, women’s rights, and community development. And she puts no conditions or restrictions on the money she donates.
Sanvi Barjatya
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