Amazon (AMZN) drew investor attention on Tuesday after MacKenzie Scott, the former wife of founder Jeff Bezos, sold 42% of her stake in the company over the past year, according to a Bloomberg report. A regulatory filing shows she now owns 81.1 million shares, down 58 million from a year ago.
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The stock closed 2% lower at $216.39 on Tuesday. Based on that closing price, Scott’s sale is valued at about $12.55 billion, making it one of her largest share reductions since her 2019 divorce from Bezos.
Bezos Still Holds Majority Control
A recent filing with the U.S. Securities and Exchange Commission (SEC) shows that Bezos still holds more than 964 million Amazon shares, including 81.1 million shares over which he retains voting authority tied to Scott’s holdings. Amazon has not issued a comment on the filing.
Scott’s Focus Turns to Philanthropy
Scott received about a 4% stake in Amazon worth $36 billion as part of her divorce from Bezos. Since then, she has been selling shares to fund her charity work.
Through her Yield Giving foundation, Scott has given more than $19.25 billion to over 2,400 groups, supporting causes like education, health, and women’s rights.
Is AMZN Stock a Buy, Hold, or Sell?
Amazon stock has declined 1.4% year-to-date due to tariff pressures and slower growth in the AWS (Amazon Web Services) cloud unit compared to rivals. However, the stock has gained 15% over the past year. Meanwhile, Wall Street remains bullish on AMZN stock.
On TipRanks, Amazon stock has a Strong Buy consensus rating based on 44 unanimous Buys. The average Amazon price target of $267.24 implies 23.50% upside potential from current levels.
