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Amazon CEO Jeff Bezos, wife Mackenzie decide to divorce

Amazon CEO Jeff Bezos, wife Mackenzie decide to divorce

Postby smix » Wed Jan 09, 2019 3:08 pm

Amazon CEO Jeff Bezos, wife Mackenzie decide to divorce
Reuters

URL: https://www.reuters.com/article/us-usa- ... SKCN1P31ML
Category: Personals
Published: January 9, 2019

Description: (Reuters) - Amazon.com Inc Chief Executive Officer Jeff Bezos and wife MaCkenzie Bezos said on Wednesday they have decided to divorce after a long separation trial, Bezos posted a joint statement on Twitter .

jeff-bezos-divorce.jpg

Amazon.com again became Wall Street’s most valuable company this week, surpassing Microsoft Inc. Bezos’ fortune has soared to more than $160 billion, thanks to his stake in Amazon. From modest beginnings as an online bookseller, Bezos and Amazon branched out into almost every product category available, ending up taking on established retail giants such as Wal-Mart Stores Inc. Bezos founded Amazon in 1994.

jeff-mackenzie-bezos.jpg

Under Bezos, Amazon launched the Kindle e-reader and revolutionized the way books are distributed and read. The company has also been a pioneer in cloud computing. In November, Amazon picked America’s financial and political capitals for massive new offices, branching out from its home base in Seattle with plans to create more than 25,000 jobs in both New York City and an area just outside Washington, D.C.



Investors ask how the Bezos divorce will affect Amazon
Reuters

URL: https://www.reuters.com/article/us-usa- ... SKCN1P42BY
Category: Business
Published: January 10, 2019

Description: NEW YORK (Reuters) - Amazon.com Inc shares seesawed on Thursday as investors questioned how the impending divorce of company founder Jeff Bezos would affect his control of the most valuable company on Wall Street and its ambitious expansion plans. Bezos, whom Forbes lists as the world’s richest person, worth an estimated $136.2 billion, said via Twitter on Wednesday that he and his wife of 25 years, MacKenzie, will divorce. Amazon shares were down 0.5 percent in afternoon trading on Thursday, after gaining earlier in the session. The split throws into question how the couple will split their fortune, which includes an approximately 16 percent ownership stake in Amazon’s roughly $811.4 billion market capitalization. Divorce laws in Washington state, where they live, hold that property acquired during a marriage is generally divided equally between spouses. Most analysts and fund managers are largely sanguine and say the divorce will not lead to any significant change in the company’s leadership or its growth prospects. Prominent short-seller Doug Kass, however, who runs hedge fund Seabreeze Partners, said he sold his stake in Amazon on news of the divorce. That was after initially buying a stake in late December and naming Amazon among his “best ideas list.” “Is it premature to ask what happens to Amazon when Jeff Bezos chooses to turn over the day-to-day running of the company he founded?” he said. “His announced divorce gives me pause for thought.” The couple has multiple residences across the country, so there is a possibility the divorce could be filed in a state where marital property is not presumed to be divided equally. New York matrimonial lawyer Bernard Clair said in that case a judge would likely determine MacKenzie Bezos’ share of Amazon stock based on her contribution to her husband’s success, which could include helping him make important business decisions or raising their children so he could focus on work. Any transfer of Jeff Bezos’ stock would be subject to U.S. Securities and Exchange Commission disclosure requirements. As an officer and director at the company, Bezos could be required to file an SEC Form 4 within two business days of any transfer, though former SEC lawyer Broc Romanek noted a provision of U.S. securities laws exempts share transfers made pursuant to a domestic relations order. Even if Bezos were exempted from filing a Form 4, he would be required to update promptly the record of his Amazon holdings on file with the SEC if his position in the company changed by 1 percent or more, said D.C. securities lawyer Thomas Gorman. MacKenzie Bezos would also need to file a similar record if she received more than 5 percent of Amazon stock.

bezos-wife.jpg

Peter Henning, a securities law professor at Wayne State University, noted that Amazon, unlike fellow tech giants Facebook Inc. and Google Inc, does not give its founder’s shares greater voting rights. If MacKenzie Bezos is given a large block of shares, she could have a big say at the company. Gorman agreed. “She could wind up with some sort of control block, and get herself a directorship,” he said. “It depends on what she wants to do.” Any effort to dilute MacKenzie Bezos’ voting rights by creating a separate class of shares would require a shareholder vote, said Gorman, though he added that he thought such a move unlikely. “Nobody wants to run their divorce through a shareholder meeting,” he said. Robert Bacarella, portfolio manager of the Monetta fund, said that while he is not changing his investment in Amazon, he expects other growth-focused portfolio managers may trim their stakes due to concerns about the divorce’s impact. “This is such an over-owned company and this gives them an excuse to say ‘Maybe I’ll trim some back because it adds a new question mark’,” he said. Bacarella, however, said he is not concerned because even if MacKenzie Bezos liquidated a stake that could be as high as 8 percent, there would be no fundamental reason behind the sale. Any impact would be short-term in nature. “Unless you worry that he will get so distracted by the divorce that he cannot manage the company, this will be a non-event,” said Michael Pachter, an analyst at Wedbush Securities in Los Angeles. “He is given control of the company because shareholders like him and his vision, not because he has 50 percent of the stock.” Thomas Forte, an analyst at D.A. Davidson, said questions about the future of the company due to the divorce are legitimate due to Jeff Bezos’ outsized influence on its value. Should he leave the company for any reason, its shares would likely immediately fall more than 10 percent, he said. “His influence on the company is as a significant as if he had super-voting shares because of his track record and the way he runs the company as if he owned the whole thing,” he said.
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Lauren Sanchez’s ‘loose lips’ lead to leak of racy Jeff Bezos texts

Postby smix » Fri Jan 11, 2019 1:06 pm

Lauren Sanchez’s ‘loose lips’ lead to leak of racy Jeff Bezos texts
New York Post

URL: https://pagesix.com/2019/01/10/lauren-s ... zos-texts/
Category: Lifestyle
Published: January 10, 2019

Description: Former TV anchor Lauren Sanchez had “loose lips” about her relationship with Amazon chief Jeff Bezos, sources tell The Post — and now the whole world knows.

lauren-sanchez.jpg

Cringe-worthily romantic text messages exchanged between the pair and published on Thursday by the National Enquirer raised the question of which member of the besotted-but-still-married pair leaked them to the tabloid. Sources close to the investigation say Sanchez sent the sexts to a friend to show off about her relationship with the world’s richest man — and then the pal slipped the texts to the Enquirer. “Lauren’s over the moon [about their relationship],” said a source. Meanwhile, a source who has seen the raunchier text messages — which the tabloid didn’t publish, but that include explicit selfies — says Bezos has more to boast about than his bank account. “He’s big,” said the insider. One Enquirer staffer who worked on the story says the four-month-long operation — amusingly dubbed “Project Alexa,” after Amazon’s digital assistant — was top secret. “Only four editorial people knew of Project Alexa,” the staffer said. “We followed their every move. They had no idea — which is kinda ironic given [Bezos] had his own private security with him all along.” Sanchez did not return a call seeking comment.
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Bezos Divorce Might Be Handled as ‘Quickly as An Amazon Delivery’

Postby smix » Mon Jan 14, 2019 5:07 pm

Bezos Divorce Might Be Handled as ‘Quickly as An Amazon Delivery’
Bloomberg News

URL: https://www.bloomberg.com/news/articles ... -be-simple
Category: Business
Published: January 12, 2019

Description: The high-stakes divorce of Jeff and MacKenzie Bezos will involve unimaginable sums of money but the case may be easier to negotiate than with regular earners, simply because they are so rich. “Their divorce will be handled as quickly as an Amazon delivery,” said West Coast-based attorney Christopher Melcher. There is no minimizing the trauma of splitting up, even with adult children and ample financial security. Yet divorce lawyers say when very large amounts of money are involved, there’s simply more gauze for the wounds. Jeff Bezos, the founder of Amazon.com Inc., has a net worth of $137 billion, according to the Bloomberg Billionaires Index. The couple intends to part “as friends,” and MacKenzie may well become the world’s richest woman. Sergey Brin, a Google founder worth over $50 billion, and his wife, Anne Wojcicki, herself a major figure in Silicon Valley, sought to keep their parting amicable over the last few years. They have appeared in public together and continue raising their two children jointly.
Job Done
When Harold Hamm, the oil and gas executive, and his wife, Sue Ann divorced in 2014, he wrote a check for an estimated $975 million, about 5 percent of his worth. The check, he said at the time, “got the job done” after years of bitterness. It sounds obvious, but experts note that, with more wealth, each dollar means less – and that can turn down the emotional thermometer, at least in public. "They became extraordinarily wealthy because they were smart,” said Michael Stutman, a prominent divorce lawyer. “And smart people do not spend money on lawyers fighting over the emotional landscape. They spend their money doing what they can to maximize their post-divorce net worth.” He added, though: “Sometimes an expensive dispute can’t be avoided.”
Dodgers Pain
Take the example of Frank and Jamie McCourt, the former Los Angeles Dodgers owners. They moved to L.A. in 2014, spending millions on homes and pools, reportedly even $10,000 a month on hairstyling. Five years later they were trading charges, including infidelity, insubordination (he fired her as the team’s CEO) and other transgressions. He paid her $130 million as part of their divorce in 2009, as the team went into bankruptcy and was later resold. “They dragged the team through their personal battle," said Melcher, of Walzer Melcher in Los Angeles. Divorces of the very rich can also become complicated when they cover several jurisdictions, philanthropies, money stashed off-shore and high-end assets like art. The divorce between Russia’s Dmitry Rybolovlev and his wife Elena unfolded over six jurisdictions and resulted in years of acrimony. In 2014, a Swiss judge awarded her $4.8 billion, though they next year they settled for reportedly less than that – though still a considerable sum. Randy Kessler, an Atlanta-based divorce lawyer, gave one further caveat. If the lawyers involved in the Bezos case make even the smallest mistake, it could cost a billion dollars. “It would scare me,” he said.
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