MacKenzie Scott cashed out 65 million Amazon shares valued at over $10 billion in the past year | CNN Business

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MacKenzie Scott, billionaire philanthropist, attending the Vanity Fair Oscar Party on March 4, 2018, in Beverly Hills, Calif.

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MacKenzie Scott continues to sell off billions of dollars’ worth of Amazon stock.

In 2023, she sold nearly 65.3 million shares of Amazon, currently valued at over $10 billion, according to a filing.

Following her divorce from Amazon founder Jeff Bezos, which was finalized in 2019, Scott became the richest woman in the world, acquiring approximately 19.7 million shares, equivalent to 4% of Amazon’s total outstanding shares, as part of the settlement. Since then, she has been gradually offloading portions of her Amazon stake and donating billions of dollars to charitable causes.

As part of the agreement, Bezos retained the voting rights to Scott’s shares, and this is why he reported them to the SEC when disclosing his 11.5% stake in the company.

In 2019, Scott committed to the Giving Pledge, a commitment made by numerous wealthy individuals to give away the majority of their wealth. The pledge has been endorsed by prominent figures such as Warren Buffett, Bill Gates, and Mark Zuckerberg.

Bezos, however, is not a signatory to the pledge, although he revealed to CNN in 2022 his intention to allocate the majority of his wealth to combating climate change and supporting efforts that can bring humanity together.

In December, Scott announced that she had donated $2.15 billion over the previous year through her foundation, Yield Giving. The nonprofit had contributed to 360 organizations, as per the announcement.

Despite selling billions of dollars’ worth of Amazon shares in recent years, Scott’s net worth still exceeds $37 billion, according to Bloomberg’s Billionaire Index.

Author: OpenAI