PM [1]
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Status : Super Owner
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MacKenzie Scott, billionaire philanthropist and ex-wife of Amazon founder Jeff Bezos, has further cut down her Amazon stake. A November 8 filing revealed that Scott sold 11 per cent of her Amazon shares valued at over $8 billion on September 30.
The latest transaction brings her total Amazon share sales and gifts to 255 million shares, amounting to around $37 billion at the time of the disposals. With this, Scott, who received around 400 million Amazon shares as part of her divorce settlement with Bezos in 2019, has sold or donated two-thirds of those holdings in less than six years.
This makes her one of the five most generous living donors in the US, with at least $17.3 billion donated to non-profit organisations, according to Forbes.
Currently, Forbes estimates Scott's net worth at $30 billion, a drop from $38 billion just a week ago, and significantly down from her peak of $59 billion in 2021. Had she not given away her Amazon shares, her wealth would have been closer to $82 billion, placing her among the top 20 richest people globally and making her the second richest woman.
While Scott has never publicly discussed her philanthropic efforts in great detail, she regularly updates her Yield Giving website and lists grants made to various causes. In one of her essays in December 2022, Scott wrote, “Information from other people – other givers, my team, the non-profit teams I've been giving to – has been enormously helpful to me.” She also reflected on the challenges of creating a platform that properly conveys her philanthropic intentions.
Scott has recently given $1.5 million to the Mni Sota Fund, a non-profit organisation that builds wealth for urban Native people in Minnesota. Then Access to Capital for Entrepreneurs in Georgia received $10 million in August from her. Additionally, Coastal Enterprises, an organisation focused on rural economic development in Maine, was given $15 million in October 2024, marking a rare second donation to the same organisation from Scott, according to Forbes.
Scott often opts not to publicise her donations unless requested by the recipients. Each year, Scott unveils new grants through her Yield Giving platform, usually at the end of the calendar year. It's likely that some of the Amazon shares sold in this recent filing were directed to non-profit groups as part of her ongoing charitable commitments.
Of the $37 billion in Amazon shares Scott has offloaded so far, she has announced donations of $17.3 billion to more than 2,300 organisations. The remaining value from the sales is likely held in donor-advised funds or other charitable accounts, with some funds possibly already being sold.
Scott's unique approach to philanthropy has garnered attention for its simplicity and effectiveness. She does not actively solicit requests for grants, except for her Open Call initiative, which awarded $640 million to 361 organisations earlier this year. Her unrestricted cash grants, which are often larger than an organisation's annual budget, have made a significant impact on many smaller charities. For instance, Dianne Calvi, CEO of Village Enterprises, a non-profit tackling poverty in rural Africa, noted that Scott's $7 million donation last year significantly boosted the organisation's reputation, leading to additional funding.