Billionaire MacKenzie Scott Sells $8 Billion in Amazon Shares for Charity

MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, is changing how billionaires give back to society. Recently, she sold $8 billion worth of Amazon shares to fund charities across the United States. Her donations aim to address critical issues like education, healthcare, housing, and economic challenges.  

Since her divorce in 2019, Scott has become one of the most active philanthropists in the world. She has donated about 255 million Amazon shares, worth $37 billion, to support over 2,300 nonprofits.  

A New Way to Give

Scott’s giving style is different from the traditional approach. Instead of setting strict rules on how the money can be used, she gives organizations the freedom to spend it where it’s most needed. For example:  

– The Housing Trust Silicon Valley received $30 million to create affordable housing.  

– The Jewish Vocational Service in Boston used $7 million to help families achieve financial stability.  

This trust-based approach also boosts the credibility of these organizations, encouraging other donors to contribute.  

A Lifelong Commitment

Last year,  MacKenzie Scott gave away $10 billion worth of Amazon shares as part of her promise to donate most of her wealth during her lifetime. Even with her significant donations, she remains one of the richest people in the world. Her net worth, however, has dropped from $59 billion in 2021 to about $30 billion in 2024.  

Redefining Charity 

MacKenzie Scott’s focus is on quick and meaningful impact, unlike traditional philanthropy, which often relies on long-term investments. Her actions challenge other wealthy individuals to rethink how their money can address urgent social problems.