MacKenzie Scott Cashes Out $12.6B in Amazon Stake
According to a regulatory filing that was made public on Tuesday, the billionaire philanthropist MacKenzie Scott has stated that she has decreased her investment in Amazon.com Inc. by 42 percent during the course of the previous year. This information was disclosed in the filing. The most recent report, which was submitted on September 30th, indicates that she is in possession of 81.1 million shares. This quantity represents a decrease of 58 million shares when compared to the number of shares she possessed in the previous year. If this reduction were to be applied to the price at which the market closed on Tuesday, it would equal to one and a half billion dollars.
The fact that Scott donates significant amounts of money to a variety of small charitable groups is common knowledge. In order to do this, she offers help without imposing any constraints and with little reporting responsibilities. This is in contrast to the majority of her rivals who are billionaires, who place a greater emphasis on gifts that are more widely recognized. According to the information that can be seen on her Yield Giving website, she distributed $2 billion to 199 different charity groups in the previous year. As a result, her cumulative contributions have reached around $19.25 billion over the course of roughly five years.
In 2019, after the end of her divorce from Jeff Bezos, the founder of Amazon, Scott made a purchase of around four percent of the most successful technological firm. Bezos is not only compelled to register her assets on a yearly basis, but she also retains the ability to exercise voting authority over her holdings. Although she has given presents, Scott is still more rich than she was when she initially split ways with Bezos. This is despite the fact that the value of Amazon shares has grown since the time of the initial separation. She has given everyone the assurance that she will donate the majority of her wealth to charitable causes.
The reason for the decline in share count was not immediately evident, and it was not clear if the decrease was the result of sales or received presents due to the fact that it was not immediately visible. Regarding the request for comment that was addressed to Scott and Yield Giving, there has not been a response received that has been received as of yet. According to the reports that was compiled prior to the most recent transaction, Scott’s net worth was assessed to be $41.2 billion at the time of the transaction.
