While Amazon founder Jeff Bezos' mother made a stunning fortune after she invested $245,573 into her son's fledgling business back in 1995, his ex-wife's recent financial moves tell a different story.
After receiving 400 million Amazon shares in her 2019 divorce from Jeff Bezos, billionaire philanthropist MacKenzie Scott has now reduced her stake in the $2 trillion tech giant by nearly half.
A regulatory filing with the SEC from 30 September shows that Scott now holds 81.1 million shares, a decrease of 58 million from a year earlier, according to Bloomberg.
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That 42% reduction represents approximately $12.6 billion worth of stock at Tuesday's closing share price. However, it's unclear whether the dramatic reduction in Amazon holdings resulted from stock sales, charitable donations or some combination of both.
Under the terms of their divorce agreement, Bezos still exercises voting authority over Scott's holdings and is required to disclose them annually. With an estimated net worth of $32 billion, Scott obtained the vast majority of her wealth through her 2019 divorce from Bezos. Now, she has pledged to give away the bulk of her fortune.
With her 4% stake in the company, she’s given away $19 billion in gifts to more than 2,000 non-profits over the past five years. Meanwhile, Amazon's share price has more than doubled, meaning even as Scott has given away billions, her remaining stake has continued to grow in value.
Like other billionaires, Scott has become known for her philanthropic approach and even founded her own charity Yield Giving, shortly after splitting with Bezos.
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Across the thousands of donations she's made since 2019, the typical gift amounts to roughly $5 million, with many of the causes being donated to DEI causes.
Interestingly, one of her most recent donations was a $42 million gift to 10,000 Degrees, a Bay Area non-profit that extends college access for low-income and predominantly non-white students. This followed a $70 million donation to Historically Black Colleges and Universities (HBCUs) through the non-profit UNCF.
Launched in 2021, the program aims to help HBCUs close the funding gap compared to predominantly white or elite institutions.
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As a result, long-term financial stability and permanent revenue streams are enabled for minority-serving schools.
In contrast, with a net worth of $228.7 billion, making him the world's fourth-richest person, Bezos married Lauren Sánchez earlier this year. In June, the couple hosted a lavish, celebrity-filled wedding in Venice, reportedly costing around $50 million.