MacKenzie Bezos ‘father was banned by the SEC in the late 1980s after allegedly squandering his clients’ money with his “lavish spending”, forcing their family to give up their enchanted life in California and move to Florida for live more humbly, it has been revealed.
Bezos, who now calls himself MacKenzie Scott after his divorce from Amazon founder Jeff, was 17 when his father, Jason Baker Tuttle, was exposed for depleting his clients’ funds. Until then, she had grown up extremely wealthy in California.
Her family had two homes – one in Pacific Heights in San Francisco and another in more rural Marion County – and she attended Hotchkiss, a Connecticut boarding school.
In 1987, his father filed for personal bankruptcy and filed for bankruptcy on behalf of his investment firm, The J. Baker Tuttle Corp.
Parents of MacKenzie Bezos, Holiday and Jason Baker Tuttle. They live in Palm Beach, Florida, and are between the ages of 76 and 80. In the late 1980s it was banned by the SEC
He told investors he filed Chapter Eleven because he was moving his headquarters and it was a condition to get out of the lease of the company’s offices.
However, a 1989 SEC document claims he failed to reimburse clients for much of what was owed to them.
It’s unclear exactly how much money he was accused of embezzling, but documents claim his company has already managed more than $ 155 million in accounts.
“Her lavish expenses were the reason the company was unable to repay much of the funds it owed to clients.
“The violations were egregious, they were serious, they occurred over a long period of time, the individual responsible, Hr. Tuttle, Sr., knew or should have known that his activities violated the law and regulations, he said. attempted to mislead investigators by falsely claiming that the respondents were taking corrective action … there is a high likelihood that [he] will repeat the violations since he continues to believe his actions were legal.
He fought the allegations.
The family owned this mansion in the Pacific Heights neighborhood of San Francisco. They moved to Florida after Tuttle was banned by the SEC
MacKenzie held several jobs to pay his way to Princeton. She graduated in the 1990s and met Bezos when the couple were both working for a hedge fund in New York City. They married in 1993, when she was 23, and launched Amazon the next day. They are shown in 2003
In the SEC documents, the judge wrote: “Mr. Tuttle, Sr. believes he has done nothing wrong and has always acted in good faith, and regulators are on a hunt for witches.
The family left San Francisco and California together, to return to Palm Beach – where Baker Tuttle was originally from.
MacKenzie, by then, had applied to Princeton.
She held several jobs to pay for her education and described her financial struggles in previous interviews, but never explained the financial scandal that preceded them.
The former couple in January 2018
After graduating from Princeton, she moved to New York and started working in a hedge fund. It was there that he met Bezos. They got engaged three months later and tied the knot in 1993, the following year, when she was 23.
Now 80, his father lives in Palm Beach, Florida with his mother, Holiday. The couple are regularly seen on the social circuit there and live in a three-bedroom community house on a golf course valued at around $ 600,000 where they hosted a 55th wedding anniversary party in 2018.
It was reported at the time by Palm Beach Daily News. Jeff attended the party.
“The evening included cocktails, appetizers, music and a sit-down dinner, as well as wonderful speeches and lots of laughs from their children, who came from both coasts with their respective spouses …
“Also on the guest list … a bunch of others who know it doesn’t matter if the ground is wet as long as the martinis are dry.”
In 1994, newlyweds MacKenzie and Bezos quit their hedge fund jobs and started Amazon while traveling from the east coast to Seattle.
In 2019, after 26 years of marriage and four children, the couple’s split became public after Bezos was exposed as being in a new relationship with TV personality Lauren Sanchez. They stay together.
MacKenzie didn’t make any public statements about her new love affair at the time, and she hasn’t since.
They settled their divorce in private and she walked away with $ 38 billion – the highest divorce settlement in history.
Since then, she has kept a low profile but made headlines by donating $ 1.7 billion of her money to various charities in the form of individual grants.
Bezos is now in a relationship with former TV personality Lauren Sanchez