MacKenzie Scott Tuttle was born in April 1970 in San Francisco, California. She grew up in Marin County, just across the Golden Gate Bridge. Her family also lived in the Pacific Heights district of San Francisco. Jason Baker Tuttle, her father, owned a financial investment firm.
MacKenzie went to the Hotchkiss School in Lakeville, Connecticut for high school. Her parents filed for bankruptcy during her junior year when her father was investigated by the Securities and Exchange Commission.
Her parents relocated to Florida, where her father sought but failed to launch a new financial profession. Her father was eventually prevented from starting a new business. In his decision, the Florida judge cited the family’s previous extravagant expenditures.
MacKenzie went to Princeton University to study English after high school. She received her diploma in 1992. In a creative writing workshop at Princeton, she studied under renowned novelist Toni Morrison. “One of the best kids I’ve ever had,” Morrison would later say of MacKenzie.
Meeting Amazon’s Jeff Bezos
MacKenzie moved to New York after graduating from Princeton with the ambition of becoming a novelist. She accepted a job as an administrative assistant at the hedge fund D.E. Shaw to supplement her income till her dream came true. Jeff Bezos, the company’s Senior Vice President and a fellow Princeton alum, was one of the people she helped in this position. A wall separated their offices.
She finally advanced to the position of research associate under Bezos.
Jeff and MacKenzie met in 1992 and dated for three months before marrying. They tied the knot in 1993. He was 29 and she was 23.
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Jeff became captivated with the newly formed “world wide web” around the time of their marriage. According to legend, Jeff saw that an online “e-commerce” business could be successful, so he chose an online bookstore because books don’t go bad and don’t need to be tried on or even handled before purchase.
MacKenzie was instrumental in inspiring Jeff to achieve his goals. In 1994, they agreed to leave their comfortable professions and lives in New York City and go to Seattle, where he could follow his internet fantasies. Jeff sat in the passenger seat, spitballing ideas and composing his e-commerce business plan on a laptop, as MacKenzie drove the Volvo across the United States.
Jeff and MacKenzie came up with a list of dozens of potential internet items. Jeff eventually decided on books.
Cadabra was the company’s original name. He eventually settled on the name Amazon, which is a reference to the Amazon River in South America.
On July 5, 1994, Amazon was formed in their Seattle garage. Jeff got started with a $300,000 angel investment from his parents. MacKenzie worked at Amazon as a secretary and bookkeeper.
She also took fiction writing seminars at the University of Washington at night during this time. It took another decade for MacKenzie to publish “The Testing of Luther Albright,” her own fictional tale. The book is said to have sold less than 2,000 copies. In 2013, she published her second novel, titled “Traps.”
Obtaining Billionaire Status
Amazon launched their initial public offering on May 15, 1997. After accounting for stock splits, Amazon’s first day of trading finished at $2 per share. A single Amazon share now costs more than $3,000.
If you had invested $10,000 in Amazon at the time of its IPO, you would now be worth almost $15 million.
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Jeff controlled 20% of Amazon at the time of its initial public offering. He sold off pieces of equity to create liquidity throughout the years. Jeff’s stock transactions have earned $70 billion in liquid cash as of this writing. He held 16 percent of Amazon before their divorce settlement.
Jeff became a billionaire for the first time in June 1998. He was valued $10 billion at the height of the dotcom bubble. His net worth dropped to $2 billion after the boom burst.
For the first time in June 2015, his net worth surpassed $50 billion. It surpassed $100 billion for the first time in January 2018. It surpassed $150 billion in July 2018. His net worth has ranged between $150 billion and $200 billion in recent years.
On July 13, 2020, Amazon shares temporarily broke $3,300 for the first time. MacKenzie’s net worth would make her the world’s richest woman at any price exceeding $3,255. So, on July 13, 2020, MacKenzie Bezos became the world’s richest woman for the first time.
Settlement in the MacKenzie Bezos Divorce
After 25 years of marriage, Jeff and MacKenzie Bezos announced their divorce on January 9, 2019. As previously indicated, they married in 1993, one year before Jeff established the company that would make him the world’s richest man.
Jeff had a net worth of $136 billion at the time of their divorce announcement. Since all of Jeff’s assets were obtained during their marriage, MacKenzie could have been entitled to half of them. If this is correct, MacKenzie might have received as much as $70 billion in stock and other assets.
MacKenzie revealed on Twitter on April 4, 2019, that she and Jeff had finalized their divorce and that she had been issued slightly under 20 million Amazon shares, or about 4% of the company’s outstanding stock. Those shares were worth $35.6 billion at the time of transfer. Jeff held around 60 million shares, or 75 percent of their previous holdings.
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MacKenzie agreed to allow Jeff to keep all voting rights over her shares, which was a huge concession. As a result, she receives all of the value without any voting power.
MacKenzie Scott’s net worth
MacKenzie Scott, originally MacKenzie Bezos, is a novelist, philanthropist, and activist from the United States. MacKenzie Scott has a net worth of $57 billion as of this writing.
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