MacKenzie Scott’s philanthropic endeavors have continued to make headlines as she sells billions of dollars in Amazon stock and donates substantial amounts to various charitable causes. Here’s a breakdown of recent developments:
Stock Sales and Donations:
- In 2023, Scott sold nearly 65.3 million shares of Amazon, amounting to over $10 billion.
- Since her divorce from Amazon founder Jeff Bezos in 2019, Scott has gradually sold off portions of her Amazon stake and donated the proceeds to charity.
- In December, Scott announced donations totaling $2.15 billion over the past year through her foundation, Yield Giving. These donations have supported 360 organizations.
Wealth and Giving Pledge:
- Despite her significant charitable contributions, Scott’s net worth remains substantial, exceeding $37 billion according to Bloomberg’s Billionaire Index.
- Scott signed the Giving Pledge in 2019, committing to donate the majority of her wealth to philanthropic causes. The Giving Pledge is endorsed by numerous wealthy individuals, including Warren Buffett, Bill Gates, and Mark Zuckerberg.
Jeff Bezos and Philanthropy:
- Jeff Bezos, Scott’s ex-husband, is not a signatory of the Giving Pledge. However, he has expressed intentions to allocate a significant portion of his wealth towards combating climate change and supporting initiatives aimed at fostering global unity.
Yield Giving Foundation:
- Scott’s foundation, Yield Giving, has emerged as a major player in philanthropy, disbursing substantial funds to a diverse range of organizations working on various social and environmental issues.
Ongoing Impact:
- Scott’s continued philanthropic efforts underscore her commitment to using her wealth for the betterment of society. Despite selling billions in Amazon stock, her net worth remains considerable, allowing her to continue making significant contributions to charitable causes.
Overall, MacKenzie Scott’s philanthropy serves as a testament to the power of wealth redistribution and the potential for individuals to effect positive change on a global scale through strategic giving.
