MacKenzie Bezos Pledges to Donate Half of Her Wealth -- Update

By Aisha Al-Muslim 

MacKenzie Bezos, one of the richest women in the world, has committed to donate at least half of her wealth to charity following her divorce from Amazon.com Inc. founder Jeff Bezos.

Ms. Bezos has signed the Giving Pledge, which encourages the world's richest individuals and couples to give more than half of their wealth to philanthropy or charitable causes, either during their lifetime or in their wills, the philanthropy group announced on Tuesday.

"I have a disproportionate amount of money to share," Ms. Bezos said in a public letter dated May 25 and published Tuesday.

"I have no doubt that tremendous value comes when people act quickly on the impulse to give," she said. "No drive has more positive ripple effects than the desire to be of service."

Mr. Bezos and Ms. Bezos said in January that their marriage was ending after 25 years. In April, the two agreed to a divorce settlement that reduces his stake in Amazon but leaves the chief executive with voting control over Ms. Bezos' shares. Mr. Bezos was to retain 75% of the shares he owned with Ms. Bezos.

Now, Ms. Bezos is the world's 22nd wealthiest person, with a net worth of about $36.6 billion, according to the Bloomberg Billionaires Index. Her ex-husband Mr. Bezos is the world's wealthiest person, with a net worth of about $114 billion, according to the index.

Mr. Bezos, who is not a signatory of the initiative, said in a tweet Tuesday: "MacKenzie is going to be amazing and thoughtful and effective at philanthropy, and I'm proud of her."

She was one of 19 new Giving Pledge signatories that have joined since the previous year. The other pledgers also included Brian Acton, the co-founder of WhatsApp, and his wife Tegan Acton; Pinterest co-founder Paul Sciarra and his wife Jennifer Sciarra; and Brian Armstrong, the CEO of Coinbase, a cryptocurrency exchange.

The Giving Pledge initiative was founded by Bill and Melinda Gates and Warren Buffett in 2010. The international philanthropy group has attracted the support of 204 individuals and families, ranging in age from 33 to 95, from 23 countries.

Many of the new Giving Pledge signatories come from a range of fields -- including finance, technology, health care and real-estate development -- and already support causes involving climate change, education, poverty alleviation, medical research, health-care services, economic development and social justice.

"The generosity of this group is a reflection of the inspiration we take from the many millions of people who work quietly and effectively to create a better world for others, often at great personal sacrifice," Mr. Buffett said in prepared remarks.

Write to Aisha Al-Muslim at [e-mail]

(END) Dow Jones Newswires

May 28, 2019 12:23 ET (16:23 GMT)

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