Billionaire philanthropist MacKenzie Scott, known for her generous charitable giving, recently unloaded 11% of her Amazon shares, worth over $8 billion. This brings the total number of Amazon shares she has sold or gifted to 255 million shares, valued at $37 billion. Scott, who received about 400 million shares of Amazon as part of her divorce from Jeff Bezos, has given at least $17.3 billion to nonprofit groups, making her one of the top five most generous living donors in the U.S. Forbes estimates her current net worth at $30 billion, down from her peak of $59 billion in 2021.
Despite her tremendous wealth, Scott has never publicly commented on her giving, choosing instead to share information on her grants through essays on her Yield Giving website. Recent recipients of her donations include organizations such as the Mni Sota Fund, Access to Capital for Entrepreneurs, and Coastal Enterprises. Scott’s giving style focuses on spotlighting the nonprofits she supports, allowing them to decide whether to publicly announce the gifts or keep them anonymous.
Scott typically announces new charitable grants towards the end of each calendar year. It is likely that some of the shares she recently offloaded have already been distributed to nonprofit groups throughout the year. Of the $37 billion in Amazon shares she has gotten rid of, she has announced $17.3 billion in donations to over 2,300 separate charities. The remaining $20 billion may be sitting in various charitable accounts or other investments. According to reports, most charities have a policy of immediately selling donated shares.
Scott’s giving style stands out among the ultra-wealthy, as she rarely solicits grants and offers small nonprofits unrestricted cash grants that frequently exceed their annual budget. Her gifts can provide a stamp of approval for lesser-known organizations and lead to increased funding from other sources. CEO of Village Enterprises, Dianne Calvi, noted that Scott’s $7 million grant to her organization led to additional large grants from other funders. Scott’s philanthropic efforts aim to support a range of causes and make a lasting impact on communities in need.
As Scott continues to donate her Amazon shares to various charitable organizations, her net worth has decreased but her impact on the nonprofit sector has been significant. By choosing to highlight the work of the organizations she supports and allowing them to decide the level of publicity, Scott is able to direct attention towards important causes and make a difference in the lives of many. Her unique approach to giving, combined with her substantial financial resources, has made her one of the most influential philanthropists of her time, setting a new standard for charitable giving among the wealthy.
