Jeff Bezos' ex-wife cedes control of Amazon in divorce deal

Published April 4, 2019
The settlement suggests that Amazon will be spared the kind of boardroom battle that has plagued other companies whose owners are dealing with family rifts. ─ AFP/File
The settlement suggests that Amazon will be spared the kind of boardroom battle that has plagued other companies whose owners are dealing with family rifts. ─ AFP/File

MacKenzie Bezos, ex-wife of Amazon.com Inc founder and Chief Executive Officer Jeff Bezos, will give 75 percent of their stake in the company and all voting rights to the billionaire entrepreneur.

MacKenzie Bezos will also relinquish all her interests in the Washington Post newspaper and rocket company Blue Origin, she said in a tweet on Thursday.

The announcement resolves questions about the direction of the world's largest online retailer that have abounded since the couple announced their divorce in January.

The Jeff Bezos divorce: $136 billion and Amazon in the middle

Jeff Bezos, widely viewed as a management guru whose long-term focus has been essential to Amazon's meteoric stock rise, will retain company control.

The settlement also suggests that Amazon will be spared the kind of boardroom battle that has plagued other companies whose owners are dealing with family rifts.

“Happy to be giving him all of my interests in the Washington Post and Blue Origin, and 75 percent of our Amazon stock,” MacKenzie Bezos said in the tweet.

Her remaining stake is worth about $36 billion at current market prices. The couple's total stake of $143 billion had made them the richest in the world.

“Grateful to have finished the process of dissolving my marriage with Jeff with support from each other and everyone who reached out to us in kindness, and looking forward to next phase as co-parents and friends,” MacKenzie Bezos wrote.

Opinion

Editorial

Smog hazard
Updated 05 Nov, 2024

Smog hazard

The catastrophe unfolding in Lahore is a product of authorities’ repeated failure to recognise environmental impact of rapid urbanisation.
Monetary policy
05 Nov, 2024

Monetary policy

IN an aggressive move, the State Bank on Monday reduced its key policy rate by a hefty 250bps to 15pc. This is the...
Cultural power
05 Nov, 2024

Cultural power

AS vital modes of communication, art and culture have the power to overcome social and international barriers....
Disregarding CCI
Updated 04 Nov, 2024

Disregarding CCI

The failure to regularly convene CCI meetings means that the process of democratic decision-making is falling apart.
Defeating TB
04 Nov, 2024

Defeating TB

CONSIDERING the fact that Pakistan has the fifth highest burden of tuberculosis in the world as per the World Health...
Ceasefire charade
Updated 04 Nov, 2024

Ceasefire charade

The US talks of peace, while simultaneously arming and funding their Israeli allies, are doomed to fail, and are little more than a charade.