The ex-wife of Amazon.com (AMZN.O), MacKenzie Scott, opens a new tab. According to Bloomberg News, billionaire CEO Jeff Bezos sold 65.3 million shares of the massive e-commerce company last year. A new tab will open on Friday.
According to the story, which cited a regulatory filing, the share sale represents almost 25% of the philanthropist’s holding in the e-commerce behemoth and would be valued at $10.4 billion at Amazon’s Friday closing price.
Reuters was unable to verify the file right away. An attempt to reach Scott for comment was met with no response at all.
In 2019, as part of her divorce from the founder of the corporation, she was given a 4% interest in Amazon. With the share valued at $36 billion at the time, she became one of the wealthiest women globally.
Scott has contributed millions of dollars to numerous causes since pledging in 2019 to give half of her income to charity.
According to Forbes, she had a net worth of $42.6 billion on Friday.
Additionally, Amazon’s French warehousing company was fined 32 million euros (USD 35 million) by France’s privacy authorities on Tuesday for employing a “excessively intrusive system” to track employee performance and activities.
The method enabled management at Amazon France Logistique to watch workers so closely that it led to repeated violations of the General Data Protection Regulation, the strict privacy regulations of the European Union, according to the French Data Protection Authority, also known by its abbreviation CNIL.
“We strongly disagree with the CNIL’s conclusions, which are factually incorrect, and we reserve the right to file an appeal,” stated Amazon.
“Warehouse management systems are industry standard and are necessary for ensuring the safety, quality and efficiency of operations and to track the storage of inventory and processing of packages on time and in line with customer expectations.”
The focus of the watchdog’s research was on how Amazon workers tracked items at different stages of their journey through the warehouse, including when they were being packed for delivery or placed in crates, using portable barcode scanners.
The regulator claimed that although Amazon utilises the system to manage its business and reach performance targets, it differs from conventional approaches in that it places employees under “close surveillance” and “continuous pressure.”
According to the watchdog, the scanner, also referred to as a “stow machine gun,” enables the business to keep an eye on workers to the “nearest second” since it alerts workers to errors if things are scanned more quickly than 1.25 seconds.
