Market Overview

Bezos In Divorce Court: What's Known So Far

Share:
Bezos In Divorce Court: What's Known So Far

Amazon.com, Inc. (NASDAQ: AMZN) founder and CEO Jeff Bezos confirmed in a Tweet Wednesday he will be divorcing his wife MacKenzie.

What Happened

Bezos and his wife MacKenzie said in the joint statement that the split is amicable, and the two will "continue our shared lives as friends" after 25 years of marriage.

Throughout their more than two-decade-long marriage, Bezos has seen his wealth skyrocket to more than $130 billion from his approximate 16-percent stake in the company he created.

With Bezos leading one of the world's largest companies by market capitalization, investors will be paying close attention to the divorce proceedings and what impact it will have on Amazon's stock.

TMZ reported the Bezos couple did not have a prenuptial agreement, and the divorce documents will be filed in Washington —where assets accumulated during a marriage are divided equally.

Fortunately, some analysts are saying investor concern relating to Amazon should be "extremely short-term," as the divorce proceedings are merely a public relations distraction and rea unlikely to impact the company in any way, Fox Business' Hillary Vaughn said during Thursday's "Bulls & Bears" panel.

Why It's Important

Divorce attorney Jacqueline Newman told Fox Business Network that Bezos will likely "maintain control" of Amazon even if he has to transfer or sell shares as part of the divorce. The shares that would likely be transferred to his wife would be non-voting, she said. 

Investors should be aware that supermarket tabloid National Enquirer said it has been tracking Bezos "across five states and 40,000 miles" over the past four months, CNN reported. The gossip tabloid said it has proof Bezos has been whisking a mistress, likely Lauren Sanchez, "off to exotic destinations on his $65-million private jet."

"The National Enquirer has been doggedly investigating this story for four months and the extraordinary details and evidence uncovered by our team, and presented to Mr. Bezos' representatives for comment early this week, underscores the kind of investigative reporting that the publication has long been known for," a spokesman told CNN.

What's Next

Bezos will likely lose his title as the world's richest person, CNBC's David Faber said Wednesday. MacKenzie will likely become one of the richest people in the world after the divorce is finalized.

Yet "getting divorced is never fun," Faber said. 

CNBC's Robert Frank said Washington divorce and marital laws make it a "no-fault state," so whatever "he or she did during the marriage that caused this divorce, if there was something like that, that would not be an issue."

Related Links:

What 5 Of The World's Most Successful CEOs Accomplish Before 8 AM

Who Made, Lost The Most Money In 2018

Photo by Seattle City Council via Wikimedia. 

Posted-In: CNBC cnn divorce Fox Business NewsNews Legal Management Media Best of Benzinga

 

Related Articles (AMZN)

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Citigroup Earnings: Will Consumer Banking Offset Expected Weakness In Institutional Business?

Rapid-Fire Pitch: TriumphPay Provides A Quicker, Safer Carrier Payment Solution