Billionaire MacKenzie Scott has significantly reduced her stake in Amazon.com (AMZN.O) by 42% since last year, divesting 58 million shares valued at $12.55 billion. As of September 30, Scott, who received a 4% stake in Amazon during her 2019 divorce from Jeff Bezos, now holds 81.1 million shares, with a substantial portion of the proceeds likely supporting her ongoing philanthropic efforts, which have exceeded $19.25 billion to date.
MacKenzie Scott has significantly reduced her holdings in Amazon (AMZN), divesting 58 million shares, which constitutes a 42% reduction in her stake since last year. This transaction, valued at approximately $12.55 billion based on recent closing prices, leaves her with 81.1 million shares as of September 30. The market's reaction to this insider transaction has been assessed as neutral, with a low market impact score of 0.25. The divestment aligns with Scott's substantial philanthropic endeavors, having donated over $19.25 billion to various non-profit organizations since receiving a 4% Amazon stake worth $36 billion in her 2019 divorce settlement. This suggests the sales are primarily driven by funding for her charitable initiatives rather than a change in fundamental outlook for Amazon. A key detail from regulatory filings indicates that while Scott holds the remaining 81.1 million shares, Jeff Bezos beneficially owns over 964 million Amazon shares, including the 81.1 million shares over which he exercises sole voting authority. This arrangement implies that despite the reduction in Scott's economic interest, voting control over her remaining shares may still reside with Bezos, a relevant factor for corporate governance analysis.
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