Amazon's Jeff Bezos' Divorce Could Be One of the Costliest Yet

05:35 01/11/2019

Wall Street learned this week that Amazon CEO Jeff Bezos and his wife MacKenzie were calling it quits after being married for 25 years. This means billions of dollars are now at stake and there was no pre-nup. In a statement, the couple said on Wednesday, "After a long period of loving exploration and trial separation, we have decided to divorce and continue our shared lives as friends. We feel incredibly lucky to have found each other and deeply grateful for every one of the years we have been married to each other. If we had known we would separate after 25 years, we would do it all again." According to Bloomberg's Billionaires Index, Jeff Bezos is the richest man in the world and has a net worth of $137 billion. One attorney doesn't believe the couple's divorce will affect Amazon's stock however. "I think that makes a big difference, because sometimes you can have an angry spouse who might leak information to the press that wouldn't be so favorable for Jeff, information about the company that could potentially harm the company and affect its value," said Kelly Frawley, a partner in the matrimonial and family law department at New York-based law firm Kasowitz Benson Torres LLP, Frawley added, "But here, where it's amicable, I can't imagine that would happen, and frankly, she would be hurting her own pocket, because why would she want to in any way do something to decrease the value of the shares?" There hasn't been any terms of the agreement revealed but some lawyers say that Bezo will figure out how to keep his voting power at Amazon, of which he owns 16.3 percent of shares according to Amazon's 2018 proxy statement. Jordan Neyland, an assistant professor of law at George Mason University, stated, "A lot of the prior CEO divorces have been more career professionals that have built up other wealth before becoming CEO. So I think that’s what makes this one a little different, being a founder getting divorced while in office." Washington state, where the couple have a home and Amazon is headquarter, has a law that says any assets that have been accumulated during the 25 years they have been married would belong to both of them, unless there was a prenuptial agreement. The divorce proceedings are expected to take place in the state.

This article has been provided by a Chasing Markets contributor. All content submitted by this author represent their personal opinions, and should be considered as such for entertainment purpose only. All opinions expressed are those of the writer, and may not necessarily represent fact, opinions, or bias of Chasing Markets.
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