MacKenzie Scott, known for her philanthropy and formerly married to Jeff Bezos, the billionaire behind Amazon.com, made a notable move in the financial world. Last year, she decided to part ways with a considerable portion of her Amazon shares, selling off 65.3 million. Bloomberg News highlighted this significant transaction in their recent report.

This sale wasn’t a small affair; it represented about a quarter of Scott’s shares in the e-commerce behemoth. With Amazon’s share price at the time of closing on Friday, the total value of the shares she sold amounted to a staggering $10.4 billion. This information was drawn from a regulatory filing, though Reuters did not immediately verify its details, and Scott didn’t respond promptly to a comment request.

The Divorce Settlement and Its Aftermath

The journey of these Amazon shares traces back to 2019, stemming from Scott’s divorce from Amazon’s creator, Jeff Bezos. The divorce proceedings concluded with Scott acquiring a 4% stake in Amazon. At the time, this stake was valued at an impressive $36 billion, catapulting her into the ranks of the world’s wealthiest women.

Philanthropy and Wealth

Since then, Scott’s wealth has been a topic of much discussion and admiration, not just for its sheer size but for her commitment to philanthropy. She made a bold pledge in 2019, promising to donate half of her fortune to charitable causes. True to her word, Scott has been actively distributing millions of dollars to various organizations and causes, making a substantial impact across multiple sectors.

As of the last report, her net worth stood firm at $42.6 billion, according to the estimations by Forbes. This figure, even after her significant share sale and her generous donations, highlights the vast scale of her wealth and influence.

In conclusion, MacKenzie Scott’s recent reduction in her Amazon holdings by $10 billion, as reported by Bloomberg News, marks a notable financial move. It reflects not just on her financial strategies but also her continued commitment to philanthropy, balancing her role in the business world with her dedication to societal contributions.

Source: https://ca.finance.yahoo.com/news/mackenzie-scott-trims-amazon-stake-041437338.html