MacKenzie Scott donates record $38 million to Alabama State University after cutting Amazon stake–here’s her net worth
Philanthropist MacKenzie Scott announced she donated $38 million to Alabama State University (ASU), marking the largest single donation in the university’s 158-year history.
The latest gift from Jeff Bezos’ ex-wife is one of many donations, and it follows a report that he had reduced his stake in Amazon by 42% last year. According to Bloomberg, according to the statement dated September 30, Scott owns 81.1 million shares, down 58 million from the previous year.
Citing Yield Giving data, the report states that Scott donated $2 billion to 199 organizations last year, and his total donations reached $19.25 billion in five years.
Alabama State University President Dr. Quinton T Ross, Jr. expressed his gratitude for the donation, saying, “We are deeply grateful to MacKenzie Scott for her unprecedented generosity in supporting the vision of Alabama State University. The message here is clear: the work done at this University is greatly respected.”
Ross also said: “This investment enables us to continue to make a significant impact as an institution of higher education, now and for generations to come. This is a history-making moment where history is made.”
How does the university plan to use the funds?
Alabama State University aims to invest these funds in strategically important areas, strengthen the university’s endowment, improve student success initiatives, expand research and technology facilities, and increase ASU’s involvement in the Montgomery community and beyond, the university said.
The $38 million donation aligns with Alabama State University’s plans to raise its national profile through initiatives in technology, global education and community development, all key elements of ASU’s Focus 2030 Strategic Plan.
MacKenzie Scott’s stake in Amazon
Scott retained about 4% of Amazon following her divorce from Amazon’s founder in 2019. Bezos continues to have voting rights on his shares and must declare them annually.
On April 4, 2019, he tweeted about the terms of the divorce, writing: “I am happy to give him all my shares in the Washington Post and Blue Origin, 75% of our Amazon shares, and voting control of my shares.”
Despite his charitable contributions, Scott’s wealth increased after his divorce due to the increase in the value of Amazon’s shares. He has committed to donating most of his wealth, the report said.
MacKenzie Scott net worth
According to the Bloomberg Billionaires Index, MacKenzie Scott ranks 54th with a net worth of $40.1 billion. Since announcing the terms of the divorce, Scott has announced charitable gifts of more than $19 billion, according to the index.
