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MacKenzie Scott trims Amazon stake by 42%, shedding $12.5 billion in shares

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MacKenzie Scott, the billionaire philanthropist and ex-wife of Amazon founder Jeff Bezos, has cut her stake in the e-commerce giant by 42% over the past year, according to a Bloomberg News report citing a recent regulatory filing.

Scott now holds 81.1 million Amazon shares as of September 30, down by about 58 million shares from the previous year. Based on Tuesday’s closing price, the sale represents roughly $12.55 billion in stock.

The filing also revealed that Bezos still beneficially owns more than 964 million Amazon shares, including 81.1 million over which he has sole voting authority. Amazon did not respond to requests for comment, and Reuters was unable to independently verify the filing.

Scott received her Amazon holdings in 2019 as part of her divorce settlement, amounting to a 4% stake valued at $36 billion at the time. Since then, she has become one of the world’s most active philanthropists, donating more than $19.25 billion to over 2,450 non-profit organizations through her charitable platform, Yield Giving.

Her large-scale giving efforts have focused on education, gender equality, racial justice, and community-based initiatives, often made without conditions or publicity — a sharp contrast to the structured foundations of many billionaires.

Ratan Tata Passes Away at 86: Hundreds Gather in Mumbai to Pay Final Respects

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Hundreds of mourners, including politicians, corporate leaders, and celebrities, gathered in Mumbai on Thursday to bid farewell to one of India’s most revered business magnates, Ratan Tata, who passed away at the age of 86. Known for his exceptional business acumen, philanthropy, and modest lifestyle, Tata was the chairman of the Tata Group for over two decades, leading the conglomerate to reach a revenue of $165 billion in 2023-24.

Although he had stepped down from the day-to-day operations of Tata Sons in recent years, Ratan Tata continued to be a guiding force behind the group’s strategic decisions. According to a senior company executive, Tata Sons’ leadership often sought his counsel for major decisions. His death marks the end of an era for Indian industry and philanthropy, with tributes pouring in from across the globe.

U.S. Ambassador to India, Eric Garcetti, expressed his condolences on social media, saying, “India and the world have lost a giant with a giant heart.” Google CEO Sundar Pichai also paid tribute, highlighting Tata’s role in shaping modern business leadership in India and his deep commitment to improving the country.

Ratan Tata’s body, draped in the Indian national flag, was placed at a cultural center in Mumbai, where admirers from all walks of life gathered to pay their respects. His funeral will be held later in the day with full state honors. Notable figures, including India’s central bank governor Shaktikanta Das, Tata Sons Chairman N. Chandrasekaran, and Aditya Birla Group Chairman Kumar Mangalam Birla, were among the first to arrive to honor the memory of the man who received India’s second-highest civilian honor, the Padma Vibhushan.

Tata, a licensed pilot who sometimes flew the company’s plane, was a private individual known for his simple lifestyle. He never married and dedicated much of his life to philanthropy. Cornell University, his alma mater, remembered Tata as their most generous international donor, stating on X, “We will remember his legacy of transformative giving to Cornell.”

Ratan Tata’s passing has left an indelible mark on the Indian business community and beyond, with his contributions to both industry and society shaping the future of generations to come.

 

Former YouTube CEO Susan Wojcicki Passes Away at 56 After Battle with Lung Cancer

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Susan Wojcicki, the former CEO of YouTube and a pivotal figure in the tech industry, passed away on Saturday at the age of 56 following a two-year battle with lung cancer. Wojcicki, who was married for 26 years and a mother of five, was celebrated for her contributions to Google and YouTube, where she played a key role in shaping the modern internet landscape.

Wojcicki joined Google in 1999, becoming one of its earliest employees. She was instrumental in the company’s acquisition of YouTube in 2006 for $1.65 billion, later taking over as YouTube’s CEO in 2014. During her tenure, she transformed YouTube into one of the most influential platforms in the world. In 2023, she stepped down from her role to focus on her family, health, and personal projects, but continued to serve as an advisor to Alphabet, Google’s parent company.

Her husband, Dennis Troper, expressed deep sorrow over her passing, highlighting her commitment to philanthropy, even as she faced personal challenges. Google CEO Sundar Pichai also paid tribute, acknowledging her lasting impact on the industry and her dedication to cancer research.

Wojcicki’s legacy is marked by her leadership in a male-dominated industry, her advocacy for women in tech, and her role in guiding one of the most significant platforms of the digital age.