MacKenzie Scott donates record $38 million to Alabama State University after cutting Amazon stake–here's her net worth

Philanthropist MacKenzie Scott donated $38 million to Alabama State University (ASU), marking the largest single donation in the university's 158-year history, the institution said in a release on October 27.

Jeff Bezos' ex-wife's latest gift is one of several donations, and it comes days after a report informed that she reduced her stake in Amazon by 42% over the past year. According to a disclosure dated September 30, Scott holds 81.1 million shares, down 58 million from a year earlier, Bloomberg reported.

Scott donated $2 billion to 199 organisations last year, the report said citing Yield Giving data, bringing her total donations to $19.25 billion in five years.

Expressing gratitude over the donation, Alabama State University President, Dr Quinton T Ross, Jr, said, “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 being done at this University is being held in high regard.”

Ross further said, “This investment allows us to continue to make a significant impact as an institution of higher learning now and for generations to come. This is a history-making moment at the place where history is made.”

How does the University plan to use the funds?

Alabama State University aims to strategically invest these funds in essential areas, strengthening the university’s endowment, improving student success initiatives, expanding its research and technology facilities, and increasing ASU’s involvement within 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 approximately 4% of Amazon following her 2019 divorce from the Amazon founder. Bezos continues to hold voting rights over her shares and must declare them annually.

She tweeted about the divorce terms on April 4, 2019 and wrote, “Happy to be giving him all of my interests in the Washington Post and Blue Origin and 75% of our Amazon stock plus voting control of my shares.”

Despite her charitable contributions, Scott's wealth has grown since her divorce due to Amazon's shares increasing in value. She has committed to donating most of her wealth, the report said.

MacKenzie Scott's net worth

According to the Bloomberg Billionaires' Index, MacKenzie Scott ranks 54th with a net worth of $40.1 billion. Since she announced the divorce terms, Scott has announced more than $19 billion worth of charitable gifts, as per the index.