American novelist, philanthropist, and activist MacKenzie Scott (previously MacKenzie Bezos). MacKenzie Scott is worth $32 billion at the time of this writing. Her wealth would be far more significant if she hadn’t given away $6 billion to charity in 2020 alone. During her lifetime, she plans to give away the vast majority of her riches, and she has already given away over $12 billion to hundreds of charities around the world. There will be more on her charitable work below.
MacKenzie became the world’s wealthiest woman on July 13, 2020, when Amazon broke $3,300 per share. She did not maintain her status as champion during the entire day. Amazon’s stock price dropped by several percentage points at the end of the trading day, handing Francoise Bettencourt-Meyers the lead once again. It became considerably more challenging for MacKenzie to preserve her status as the richest woman in the world after she began donating billions of dollars to charity a few months later.
The public recognizes her as the partner of Amazon’s founder Jeff Bezos from 1993 until the present. Together, Jeff and MacKenzie have raised four children. For more than twenty years, Jeff has been a billionaire, and since 2018, he has held the title of “world’s richest man.”
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Mackenzie Scott’s Early Life
MacKenzie Scott Tuttle entered this world in April of 1970 in San Francisco, California. She is a native of Marin County, just to the north of San Francisco. The Pacific Heights area of San Francisco was also where she raised her family. Her father, Jason Baker Tuttle, was the head of a successful investing firm.
After finishing eighth grade, MacKenzie enrolled at the Hotchkiss School in Lakeville, Connecticut. Her family was forced to declare bankruptcy when her father was the focus of an SEC investigation during her junior year. Her father attempted to launch a new financial profession in Florida, where the family eventually relocated. The establishment of a new financial enterprise by her father was eventually thwarted. The judge in Florida said no because of the family’s history of excessive spending.
MacKenzie went on to Princeton University to major in English after graduating high school. In 1992, she completed her formal education. She took a writing workshop with Toni Morrison at Princeton. MacKenzie would go on to be called “one of the best kids I’ve ever had,” according to Morrison’s reflections.
Meeting Jeff Bezos
MacKenzie moved to New York after finishing his degree at Princeton to pursue his ambition of writing novels. She accepted a job as an administrative assistant at the hedge fund D.E. Shaw to help pay the bills until her dream came true. In this role, she helped several people, including Jeff Bezos, the company’s senior vice president and a classmate of hers at Princeton. Their cubicles were adjacent to the other. In time, she advanced to a position reporting to Bezos himself as Bezos’s research associate.
After meeting and dating for only three months in 1992, Jeff proposed to MacKenzie. Their wedding took place in 1993. They had an age difference of 8 years: she was 23, and he was 29.
Amazon
Jeff’s interest in the developing “world wide web” peaked around the time of their wedding. A successful online “e-commerce” store was something Jeff knew he could achieve, and he decided on an online bookstore because books don’t expire and don’t need to be handled before purchase.
Jeff would not have gone after his goals without MacKenzie’s constant encouragement. They decided to leave their comfortable careers and homes in New York City and come to Seattle so that he may follow his goals of being an internet pioneer in 1994. As they drove across the country, MacKenzie was at the wheel of the Volvo and Jeff was in the passenger seat, brainstorming and writing out his e-commerce business plan on his laptop.
Jeff and MacKenzie came up with a long list of items that may be offered digitally. In the end, Jeff decided to focus on reading.
He first decided to call it Cadabra. As a nod to the Amazon River in South America, he ultimately settled on the name Amazon.
On July 5, 1994, two people in Seattle’s garage started a company that would become Amazon. For starters, Jeff had his parents invest $300,000. At Amazon, MacKenzie was the secretary and bookkeeper.
During that time, she also attended UW evening programs on creative writing. MacKenzie’s debut work, “The Testing of Luther Albright,” wasn’t published until after another decade had passed. There were supposedly less than 2,000 copies of the book sold. Her second novel, “Traps,” came out in 2013.
Jeff had a 20% stake in Amazon at the time of its initial public offering. Over the years, he consistently liquidated shares of stock to meet financial obligations. Jeff’s stock transactions have netted $70 billion as of this writing. Before the divorce settlement, he had a sixteen percent stake in Amazon.
In June of 1998, Jeff became the first person in the world to reach that financial milestone. During the height of the.com bubble, his net worth was estimated at $10 billion. His wealth dropped by half to $2 billion after the market crash.
Amazon’s stock momentarily traded above $3,300 on July 13, 2020. At a value of more than $3,255, MacKenzie would be the wealthiest lady on the planet. On July 13, 2020, MacKenzie Bezos passed Meg Whitman as the wealthiest woman in the world.
MacKenzie Bezos Divorce Settlement
Jeff and MacKenzie Bezos announced their separation on January 9, 2019, following a 25-year marriage. We previously mentioned that the couple tied the knot in 1993, a full year before Jeff started the company that would bring him billionaire status.
Jeff’s net worth was reported to be $136 billion at the time of the announcement of their divorce. Since all of Jeff’s assets were obtained during their marriage, MacKenzie may have been entitled to half of them. If such is the case, then MacKenzie may have received as much as $70 billion in stock and other assets.
Final Settlement
MacKenzie announced the divorce and the distribution of her Amazon stock, which amounted to about 4% of the company’s outstanding shares, on Twitter on April 4, 2019. The market value of the transferred shares was $35.6 billion. Seventy-five percent of the ownership (around 60 million shares) was retained by Jeff. MacKenzie made a major compromise when she let Jeff have all voting control over her shares. Because of this, she receives all the benefits without having a voice in decision-making.
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