MacKenzie Scott Reduces Amazon Stake by 42%, Donates $110M to DEI Causes

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MacKenzie Scott Reduces Amazon Stake by 42%, Donates $110M to DEI Causes

Billionaire philanthropist MacKenzie Scott has recently reduced her stake in Amazon by 42%, equating to approximately $12.6 billion. This decision follows her acquisition of 400 million shares after her divorce from Amazon founder Jeff Bezos in 2019.

Significant Share Reduction

According to a regulatory filing with the SEC, Scott now owns 81.1 million Amazon shares, down from 139.1 million. This reduction, effective as of September 30, emphasizes her evolving philanthropic strategy.

Wealth Overview and Philanthropic Commitment

MacKenzie Scott’s net worth is estimated at $32 billion. Most of her wealth was obtained after her divorce, and she has pledged to give away a majority of it. Since her split from Bezos, she has donated approximately $19 billion to over 2,000 nonprofits.

Philanthropic Focus on DEI

Scott has made major contributions to diversity, equity, and inclusion (DEI) causes. Her median gift size stands at around $5 million. Recent donations include:

$42 million to 10,000 Degrees, benefiting low-income and largely non-white students.
$70 million to historically Black colleges and universities (HBCUs) through the UNCF.
$84 million to Girl Scouts.
$20 million to Vermont’s Champlain Housing Trust.
$436 million to Habitat for Humanity.
$275 million to Planned Parenthood.
$10 million to UNCF in 2020.

Impact of Amazon Share Price

Since her divorce, Amazon’s shares have more than doubled in value. Despite selling a significant portion of her stake, Scott remains wealthier than her original worth at the time of separation from Bezos.

Legacy of Philanthropy

In 2020, Scott signed the Giving Pledge, an initiative encouraging billionaires to commit to philanthropic efforts. Her donations have notably outpaced many peers in both frequency and magnitude.

Scott continues to exemplify a commitment to philanthropic giving, significantly impacting various communities through her charitable actions. As her financial landscape evolves, her dedication to DEI and charitable contributions remains steadfast.