What's happened
MacKenzie Scott has sold 58 million Amazon shares worth $12.6 billion, reducing her stake to 81.1 million shares. Meanwhile, Jeff Bezos has sold over 100 million shares over the past year, now holding 9% of the company. Both continue their philanthropic efforts amid ongoing wealth adjustments.
What's behind the headline?
The recent stock sales by Scott and Bezos reflect strategic moves aligned with their philanthropic goals and personal wealth management. Scott's 42% reduction in her Amazon holdings, worth approximately $12.6 billion, underscores her commitment to quiet, impactful giving, as she donates primarily to small nonprofits with minimal reporting requirements. Her wealth has increased since her divorce, thanks to Amazon's stock surge, making her one of the wealthiest women globally. Conversely, Bezos's sale of over 100 million shares, reducing his stake from over 10% to 9%, is part of a broader trend of billionaire stock divestments post-CEO tenure. Despite these sales, both remain among the world's richest, with Bezos worth around $230 billion and Scott approximately $32.5 billion. Their actions highlight a shift from direct corporate control to philanthropy and personal ventures, with Scott emphasizing low-profile giving and Bezos focusing on space and media projects. This pattern suggests a long-term strategy to balance wealth, influence, and social impact, with both figures maintaining significant influence over their holdings and philanthropic directions.
What the papers say
The Independent reports Scott sold 58 million shares worth an estimated $12.6 billion, maintaining her philanthropic focus through Yield Giving, which has donated over $19 billion to small nonprofits. Bloomberg highlights Bezos's sale of over 100 million shares, reducing his stake to 9%, and notes his ongoing investments in Blue Origin and The Washington Post. The NY Post emphasizes Bezos's continued wealth and recent stock sales, while Business Insider details the specifics of his holdings and the implications of his divestments. All sources confirm both are committed to giving away most of their wealth, with Scott's approach notably low-profile and focused on small nonprofits, contrasting with Bezos's broader investment portfolio and space ambitions.
How we got here
Following their 2019 divorce, Scott retained a 4% stake in Amazon, which has grown significantly due to stock appreciation. Bezos, the company's founder, has been gradually divesting his holdings since stepping down as CEO in 2021, partly to fund his space ventures and philanthropy. Both have committed to giving away most of their wealth, with Scott donating over $19 billion through her Yield Giving foundation, which supports small nonprofits with unrestricted grants. Bezos has also established the Bezos Earth Fund and continues to focus on space exploration and media investments.
Go deeper
- What are the implications of their stock sales for Amazon?
- How do their philanthropic strategies differ?
- What might their future plans be for wealth and influence?
More on these topics
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MacKenzie Scott is an American novelist, billionaire, and venture philanthropist. She has served as the executive director of Bystander Revolution, an anti-bullying organization she founded, since 2014.
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Amazon.com, Inc., is an American multinational technology company based in Seattle, Washington. Amazon focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence.
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Jeffrey Preston Bezos is an American internet entrepreneur, industrialist, media proprietor, and investor. He is best known as the founder, CEO, and president of the multi-national technology company Amazon.