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MacKenzie Scottthe ex-wife of Amazon.com, Inc. (NASDAQ:AMZN) founder Jeff Bezosrecently sold 11% of its Amazon shares, worth more than $8 billion.
The details: Scott received approximately 400 million Amazon shares in 2019 as part of her divorce settlement with Bezos and signed The give promise, a commitment to donate most of her wealth during her lifetime. The latest sale brings her total Amazon stock sales and donations to 255 million shares worth about $37 billion.
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Scott sold off two-thirds of her Amazon shares in less than six years after the divorce. According to Forbes, she is one of the five most generous living donors in the US and has donated at least $17.3 billion to more than 2,300 individual nonprofits.
Forbes speculates that the remaining $20 billion could be in her various charitable accounts, with the shares likely to be sold regardless of whether Scott has moved them to one of her many reported donor-advised funds.
‘Most charities have an immediate sales policy’ Holly Welch StubbingCEO of National Philanthropic Trust, a donor-advised fund sponsor where Scott reportedly has an account, according to Forbes.
One organization that Scott supported with proceeds from the sale of Amazon stock is the West Philadelphia Skills Initiativehelping job seekers find careers and employers find top talent. Scott donated $4 million in unrestricted funds to the organization.
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“They don’t ask us to do anything different. They say you are doing very well. Keep going, we trust you,” he said Cait Garozzoexecutive director of the West Philadelphia Skills Initiative. “And that means a lot. It allows us to experiment and innovate so that we can grow the investment funds we already have in a way that feels authentic.”
