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What is MacKenzie Scott’s net worth?
Novelist, philanthropist, activist, and former Amazon CEO MacKenzie Bezos is now known as MacKenzie Scott, better known as MacKenzie Bezos. MacKenzie Scott has a net worth of $57 billion as of this writing. She could have a much larger fortune if she didn’t donate $6 billion to charity in 2020 alone. While she is still alive, she intends to give away the vast majority of her fortune. This article will go into greater detail about her charitable endeavors.
The day after Amazon’s stock price surpassed $3,300 a share on July 13th, 2020, MacKenzie became the world’s richest woman for the first time. During the day, she was unable to hold on to the title. Amazon had lost several percentage points by the end of the trading day, handing the crown back to Francoise Bettencourt-Meyers. When MacKenzie started donating billions of dollars to charity, it became increasingly difficult for her to maintain her position as the richest woman on the planet.
He was married to her for more than 20 years, from 1993 until he died in 2019. Together, Jeff and MacKenzie are parents to four children. After more than two decades as a billionaire, Jeff has been the world’s wealthiest person since 2018.
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KEY FACTS
- Married Jeff Bezos the year before he founded Amazon
- Drove the car across the country as Jeff wrote Amazon’s business plan
- Jeff and MacKenzie were married from 1993 to 2019
- Received 20 million shares of Amazon in their divorce
- Signed “The Giving Pledge” immediately after receiving the settlement
- Net worth increased by $25 billion in 2020
- Was the richest woman in the world at times in 2020
- Donated at least $6 billion to charity in 2020
Early Life
In April of 1970, MacKenzie Scott Tuttle was born in San Francisco. Marin County, just over the Golden Gate Bridge, was her hometown growing up. Her family also owned a house in the Pacific Heights neighborhood of San Francisco. She was raised by a successful businessman, Jason Baker Tuttle.
MacKenzie was a student at the Hotchkiss School in Lakeville, Connecticut, for her senior year of high school. Following a Securities and Exchange Commission investigation involving the family’s father, her parents filed for bankruptcy during her junior year. In Florida, her parents relocated to start a new financial career for her father, but he was unsuccessful. In the end, her father couldn’t start a new financial company. During the rejection, a judge in Florida cited the family’s prior lavish spending.
MacKenzie went to Princeton University to study English after graduating from high school. In 1992, she received her degree. In a creative writing class at Princeton, she studied under renowned author Toni Morrison. Morrison later referred to MacKenzie as “one of the best students I’ve ever worked with.”
MacKenzie Scott’s net worth revealed https://t.co/ng54czKpUW pic.twitter.com/3Ru82QJ9Lr
— Forbes (@Forbes) March 20, 2021
Meeting Jeff Bezos
Mackenzie moved to New York after graduating from Princeton to become a novelist. She took a job as an administrative assistant at hedge fund D.E. Shaw to help pay the bills while she waited for her dream to come true. Jeff Bezos, a fellow Princeton alum, was one of the people she assisted in this role. There was a wall between them.
She eventually rose to the position of research associate under Bezos’s direct command.
Jeff and MacKenzie started dating in 1992 and got engaged three months later. In 1993, they became husband and wife. He was 29; she was 23.
Amazon
Jeff’s fascination with the newly emerging “world wide web” began around the time of their wedding. While Jeff had his eye on an “e-commerce” business, he decided on an online bookstore because books don’t expire and can be purchased without being tried on or even touched.
MacKenzie played a crucial role in Jeff’s decision to pursue his goals. To pursue his internet dreams, he convinced her to leave her comfortable job and home in New York City in 1994 and move to Seattle. There were times when MacKenzie was driving and Jeff was in the passenger seat brainstorming and writing up his business plan on his laptop as they crossed the United States.
They came up with a long list of products that could be sold on the internet. In the end, Jeff settled on reading books.
Cadabra was the first name he came up with for the company. Later, he decided to go by the name Amazon, which is a reference to the Amazon River in South America.
On July 5, 1994, Amazon was born in a Seattle garage. Jeff was able to launch his company with the help of a $300,000 angel investment from his parents. MacKenzie worked as a bookkeeper and secretary for Amazon for many years.
Her night classes at the University of Washington during this time were in fiction writing. That novel, titled “The Testing of Luther Albright,” was not published by MacKenzie for another decade. Fewer than 2,000 copies of the book were sold, according to reports. Her second book, titled “Traps,” was published in 2013.
Becoming Billionaires
Amazon went public for the first time on May 15, 1997. When stock splits were taken into account, Amazon’s first day of trading ended with a share price of $2. In today’s market, a single share of Amazon costs more than $3,000.
A $10,000 investment in Amazon at the IPO would have returned more than $15 million today.
Jeff owned 20 percent of Amazon at the time of the company’s initial public offering (IPO). Throughout the years, he sold off swaths of the company’s equity to raise money. Jeff’s stock sales have generated $70 billion in liquid cash as of this writing. When he and his ex-wife divorced, he had a stake in the company at 16 percent.
In June of 1998, Jeff became the first billionaire in the world. He was worth $10 billion at the height of the dot-com bubble. After the bubble burst, his net worth dwindled back to the original $2 billion figure.
When his net worth crossed $50 billion for the first time in June of this year, it was a milestone. For the first time, it crossed the $100 billion mark in January of 2018. It crossed the $150 billion mark in July of this year. His net worth has fluctuated between $150 and $200 billion over the past few years. “
Amazon’s stock briefly traded above $3,300 on July 13th, 2020. If the price rises above $3,255, MacKenzie will be the world’s richest woman. In other words, on July 13, 2020, MacKenzie Bezos will become the world’s first woman to hold the title of richest person for the first time.
MacKenzie Bezos Divorce Settlement
When Jeff and MacKenzie Bezos announced their divorce on January 9, 2019, they had been married 25 years. To recap: They wed in 1993, just one year before Jeff founded what would one day become a multi-billion dollar company.
Jeff had a net worth of $136 billion at the time of their divorce announcement. Because Jeff’s assets were acquired during their marriage, MacKenzie could have been entitled to half of them. If this is correct, MacKenzie could have received shares and other assets worth up to $70 billion.
Final Settlement
Jeff and MacKenzie finalized their divorce on April 4th, 2019 and MacKenzie received just under 20 million shares of Amazon stock, which is approximately 4% of the company’s total shares. These shares were worth $35.6 billion at the time of transfer. About 60 million shares, or 75% of their previous holdings, were retained by Jeff. MacKenzie made a significant concession by agreeing to give Jeff complete control of her shares. It’s as if she’s getting all the benefits without any of the sways.
Richest Woman In The World
MacKenzie was the fifth richest woman in the world as of the beginning of the year. As of January 1st, 2020, these are the world’s wealthiest women:
- #1: Francoise Bettencourt-Meyers – $62 billion (L’Oreal heiress)
- #2: Julia Flesher Koch – $60 billion (David Koch’s widow – Koch oil)
- #3: Alice Walton – $53 billion (Walmart founder Sam Walton’s daughter)
- #4: Jacqueline Mars – $42 billion (Mars candy)
- #5: MacKenzie Bezos – $37 billion
As it turned out, 2020 was a very fortunate year for Jeff and MacKenzie Bezos.
Immediately following the outbreak of the Coronavirus pandemic, Amazon’s stock price surged. At home, people all over the world were preoccupied with online shopping, watching Prime videos, and babbling to Alexa.
Jeff and MacKenzie’s net worth grew as Amazon’s stock price rose from $1,900 on January 1st to over $3,000 six months later. On July 10, 2020, MacKenzie’s wealth will reach $64 billion. As of August 26, when AMZN’s share price reached $3,440, MacKenzie’s net worth had risen to $67 billion, according to Bloomberg calculations. On the same day, here is a list of the richest women in the world:
After the market closed on August 26, 2020, here’s how that very same list stacked up:
- #1: MacKenzie Bezos – $67 billion
- #2: Francoise Bettencourt-Meyers – $66 billion
- #3: Alice Walton – $56 billion
- #4: Julia Flesher Koch – $52 billion
- #5: Jacqueline Mars – $37 billion
Philanthropy
Two major announcements were made by MacKenzie on July 28, 2020, when she wrote an article on the blogging platform Medium. MacKenzie Bezos officially became MacKenzie Scott in the first announcement. Her maiden middle name is “Scott,” and it was given to her by one of her grandfathers. 116 charities received a total of $1.7 billion from MacKenzie. On December 15, 2020, MacKenzie announced that she had given $4.2 billion to 384 organizations, just a few months later. According to MacKenzie, she intends to:
Giving back the majority of my wealth is a lifelong goal of mine. I plan on doing it with care and consideration, getting started as soon as possible, and working until the safe is empty.
Second Marriage: It was revealed in March 2021 that MacKenzie had recently married Dan Jewett, a high school science teacher. Paul Allen and Bill Gates were both former students of Dan’s alma mater, the exclusive Lakeside School.
When she posted the news on her website, she mentioned that her new husband had signed on to the Giving Pledge as well. Dan is such a great guy, and I am happy and excited for both of them,” Jeff Bezos said in a statement released by an Amazon spokesman.
Indeed, she has changed the biographical information for herself on Amazon so that it states she “lives in Seattle with [her] four children and [her husband] Dan.”
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