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Mackenzie Scott Net Worth: Philanthropy, Schooling, Career!

MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, is giving away her riches quicker than any billionaire in the modern era has ever given away her wealth. As a result, she is still the fourth richest woman in the world according to Forbes’ 36th annual list of World’s Billionaires–followed by the heirs of L’Oreal, Walmart, and Koch Industries.

Mackenzie Scott Net Worth

No matter how much money she donates, it’s not going unnoticed. According to the Forbes Rich List, Scott’s net worth is $43.6 billion, down $9.4 billion (or 18 per cent) from 2013.

About

As part of their divorce deal, Bezos donated 19.7 million shares of Amazon stock to Scott, who became a billionaire in 2019. After ranking 22nd in 2020 ($36 billion), she rose to 22nd ($53 billion) in 2021 ($58.3 billion). She’s now the 30th richest person in the world.

The reduction in Scott’s fortune can partially be explained by a 3 per cent dip in Amazon’s stock price. About 15% of her net worth has been lost as a result of this. Significantly, she has donated $12.5 billion to over 1,250 charities in less than two years, a record-breaking amount. On Forbes’ 2022 list of the world’s most generous people, she came in at No. 5–behind benefactors like Bill and Melinda Gates and Michael Bloomberg.

According to Forbes, Scott, who promised to give up the majority of her income, has transferred 4.75 million Amazon shares—nearly a quarter of what she was given in the divorce—to charity.

Adolescence and Schooling

A financial planner father and a stay-at-home mother raised MacKenzie Scott Tuttle in San Francisco, California, where he was born on April 7, 1970.

The Book Worm, a 142-page book, was destroyed in a flood at the age of six when she began writing seriously. She graduated from Lakeville, Connecticut’s Hotchkiss School in 1988.

Toni Morrison, the Nobel Laureate in Literature, characterised Tuttle as “one of the best students I’ve ever had in my creative writing classes” when she graduated from Princeton University in 1992. For Morrison’s 1992 novel, Jazz, she was a research assistant.

Career

Career as a Writer

Scott’s first novel, The Testing of Luther Albright, was published in 2005 and was nominated for an American Book Award the following year. She said that she couldn’t write for ten years since she was so busy helping Jeff Bezos develop Amazon and raising her three children. “A rarity: A smart novel that tears and fills the heart,” wrote her former teacher Toni Morrison in her review of the book.  Traps, her second novel, came out in 2013.

Amazon

Bezos married Scott in 1993, and they both left D. E. Shaw in 1994 to create Amazon in Seattle. As one of Amazon’s initial workers, Scott worked extensively on the company’s name, business model, and account information, as well as handling early orders.

Mackenzie Scott Net Worth

In addition, she secured the first freight contract for the business. As Amazon’s success grew[when? ], Scott’s involvement in the company waned as she opted to devote more time to her family and writing career.

As It Pertains to My Own Life

When Jeff Bezos founded Amazon and Blue Origin, Scott was married to him from 1993 until 2019. When she was working as his assistant at D. E. Shaw in 1992, she met him. After three months of courtship in New York, they married and relocated to Seattle, Washington, the following year. [3] They have a total of three sons and a girl between the two of them. From China, they adopted a daughter.

When Scott and her ex-husband divorced on community property grounds in 2019, she walked away with $35.6 billion in Amazon stock, while her ex-husband kept 75% of the stock.

In April of this year, she surpassed Warren Buffett as the world’s third-richest woman and one of the world’s wealthiest individuals. Forbes estimated Scott’s net worth at $36 billion in July 2020, making him the world’s 22nd richest person. As of December 2020, Scott’s net worth was reported to be $62 billion, making her the world’s richest woman.

She renamed herself, Mackenzie Scott, after her divorce from Jeff Bezos, with the surname being formed from her middle name.

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Dan Jewett, a high school chemistry instructor, is now her husband. On March 6, 2021, Jewett’s Giving Pledge letter disclosed the marriage.

Philanthropy

When Scott signed the Giving Promise in May 2019, she agreed to give away most of her wealth to charity over her life or in her will, even though the pledge is not legally obligatory.

According to Scott’s announcement, she has given $1.7 billion to 116 non-profit organisations, with an emphasis on social justice, LGBTQ+ equality, democratic participation in the United States and the environment.

Donations made to HBCUs, Hispanic-serving schools and institutions of higher education, in general, have surpassed $800 million.

When Scott announced her next $4.15 billion donations in December 2020, less than six months after the COVID-19 pandemic’s economic impact and long-term systemic injustices had been addressed, she was referring to the 384 organisations she had supported in the preceding four months. Her advisors were supposed to begin distributing her money as soon as July, but she urged them to do it sooner as COVID-19 had a devastating influence on the United States and billionaires’ wealth continued to rise.

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Her group’s primary goal was to “search for groups whose leaders and results can be counted on, with a concentration on those serving neighbourhoods with high levels of food insecurity, racial injustice, poverty and limited access to charitable funds Scott’s charitable contributions to functioning charities in 2020 will exceed $5.8 billion, making it one of the largest annual contributions made by a private individual.

Conclusion

Scott will donate an additional $2.7 billion to 286 charities on June 15th, 2021. According to Forbes, Scott made a single-year donation of $8.5 billion to 780 different charities (July 2020 to July 2021). For the Equality Can’t-Wait for Challenge, Scott and Melinda French Gates sponsored a contest in June 2021 that aims to promote gender equality and increase the power and influence of women by 2030.

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An additional $8 million was awarded to two finalists in addition to the four winners’ $10 million prize money. Nine charities will receive a total of $264.5 million in Scott’s bequests in February 2022. On March 23, 2022, additional gifts of $436 million and $275 million to Habitat for Humanity and Planned Parenthood, respectively, were made public.

Mackenzie Scott Net Worth

According to Forbes, Scott’s charity is “the anomaly, not the standard” because of its “unrestricted and ultimately more trusting nature.” “Ms Scott has flipped traditional philanthropy on its head… by disbursing her money promptly and without much pomp, Ms Scott has diverted the spotlight away from the giver and onto the NGOs, she is attempting to support,” according to the New York Times. Is what Scott has stated “The money will be best used by groups that have worked on the front lines of issues in the past.

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