The ex-spouse of Amazon (AMZN, Financial) founder Jeff Bezos, MacKenzie Scott, sold 11% of her total Amazon shares, which decreased her wealth from $38 billion to almost $30 billion. As of 2019, Scott, who took possession of a 4% stake in Amazon after the divorce, has remained a top philanthropist in the U.S. and is one of the five biggest living donors. Forbes Media says she donated about $17.3 billion to nonprofit and humanitarian organizations.
Scott is famous for her generous and significant donations through the “Yield Giving” that outlines her charitable work. Recent initiatives are Minnesota's Mni Sota Fund to generate economic capital for urban Indians for $1.5 million and $10 million to Georgia's Access to Capital for Entrepreneurs in August this year. Also, in October, she gave $15m to Coastal Enterprises, a Maine-based organization that supports rural development.
Scott made her pledge in 2019, promising to contribute at least 50 percent of her fortune within her generation. She has also been credited for her philanthropy and continues with this consistent method of making big, targeted donations. This most recent divestment of Amazon stocks is also consistent with Bezos' charitable giving philosophy of using her wealth to give back to society without fanfare.
