Whereas Jeff Bezos is having fun with the current rise within the inventory market, his ex-wife, MacKenzie Scott, is making information for her generosity. She just lately bought one other $8 billion price of Amazon shares and is utilizing the cash to assist charities nationwide.
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Scott, who was beforehand married to Jeff Bezos, the founding father of Amazon, has determined to make use of her cash to attempt to change the world. Since their 2019 divorce, she has obtained a big quantity of Amazon shares, making her one of many wealthiest folks on the planet. However not like many different billionaires, she is not preserving all that cash for herself. As a substitute, she’s giving it away shortly, just lately promoting 11% of her Amazon shares to help nonprofits, per filings.
For the reason that divorce, Scott has bought or donated 255 million Amazon shares, price about $37 billion. That is big, particularly since she has performed it in lower than six years. As a substitute of holding onto her wealth, Scott focuses on giving again by offering grants to organizations engaged on schooling, well being, poverty and financial alternatives.
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After graduating from Princeton College, she moved to New York Metropolis to comply with her dream of changing into a author. She needed to take totally different jobs, like waitressing, simply to pay her payments and these laborious instances taught her what it feels wish to wrestle with cash, which made her wish to assist others in want.
Some teams which have obtained her donations embody the Housing Belief Silicon Valley, which obtained $30 million to assist make inexpensive housing and the Jewish Vocational Service in Boston, which obtained $7 million to assist households turn into extra financially secure. These donations are only a small a part of her giving. Scott has already given greater than $17 billion to over 2,300 nonprofits, making her probably the most beneficiant folks within the U.S.
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Whereas Jeff Bezos’ internet price retains rising with Amazon’s success, Scott’s internet price is shrinking – however that is her objective. Forbes estimates that her wealth decreased from $59 billion in 2021 to about $30 billion in late September. She pledged to donate as a lot as she might over her lifetime when she joined The Giving Pledge in 2019.