While Jeff Bezos Rides The Stock Market Boom, MacKenzie Scott Has Just Sold $8 Billion In Amazon Shares To Fund Charities Nationwide

While Jeff Bezos is enjoying the recent rise in the stock market, his ex-wife, MacKenzie Scott, is making news for her generosity. She recently sold another $8 billion worth of Amazon shares and is using the money to help charities nationwide.

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Scott, who was previously married to Jeff Bezos, the founder of Amazon, has decided to use her money to try to change the world. Since their 2019 divorce, she has received a large amount of Amazon shares, making her one of the wealthiest people on the planet. But unlike many other billionaires, she isn't keeping all that money for herself. Instead, she's giving it away quickly, recently selling 11% of her Amazon shares to support nonprofits, per filings.

Since the divorce, Scott has sold or donated 255 million Amazon shares, worth about $37 billion. That's huge, especially since she has done it in less than six years. Instead of holding onto her wealth, Scott focuses on giving back by providing grants to organizations working on education, health, poverty and economic opportunities.

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After graduating from Princeton University, she moved to New York City to follow her dream of becoming a writer. She had to take different jobs, like waitressing, just to pay her bills and these hard times taught her what it feels like to struggle with money, which made her want to help others in need. 

Some groups that have received her donations include the Housing Trust Silicon Valley, which got $30 million to help make affordable housing and the Jewish Vocational Service in Boston, which received $7 million to help families become more financially stable. These donations are just a small part of her giving. Scott has already given more than $17 billion to over 2,300 nonprofits, making her one of the most generous people in the U.S.

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While Jeff Bezos' net worth keeps growing with Amazon's success, Scott's net worth is shrinking – but that's her goal. Forbes estimates that her wealth decreased from $59 billion in 2021 to about $30 billion in late September. She pledged to donate as much as she could over her lifetime when she joined The Giving Pledge in 2019. 

Scott's way of giving is different from that of most billionaires. She focuses on smaller, community-based organizations, often giving them unrestricted funds – money they can use however they need without any conditions. For many of these groups, getting a donation from Scott is more than just the money. It is also a sign of trust, which can help them get more donations from others.

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