Jeff Bezos’ record $6 billion sale of Amazon shares ends years of restraint


His increased pace of sales this year might be a result of his 2019 split from MacKenzie Bezos. The pair divorced in the state of Washington, where Amazon is based and the couple lived. It’s a community property state, meaning all assets and debt acquired during a marriage “will be divided equitably by the court if the couple cannot negotiate an agreement,” according to the website of McKinley Irvin, a family law firm in the region.

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The terms of their divorce – at least those publicly disclosed in stock filings and a single tweet by MacKenzie Bezos in April – show that Jeff Bezos retained 75 per cent of the couple’s stake in Amazon as well as interests in The Washington Post newspaper and rocket company Blue Origin. The pair may have agreed to a cash payment in return for such an uneven split, according to divorce lawyers.

“It’s possible the agreement provided for some cash transfer,” said Peter Walzer, founding partner of law firm Walzer Melcher and a past president of the American Academy of Matrimonial Lawyers. “Cash is king.”

Bezos, 56, has plenty of other expenses. As well as supporting Blue Origin to the tune of $US1 billion a year, his lifestyle has become increasingly glamorous. He owns properties on both coasts and 42,000 acres of desert scrub in Texas. He’s been house hunting for a mega-mansion in Los Angeles, according to the New York Post, and has reportedly started making waves in the art world.

Whatever the reason for his sales, the proceeds still make up just a fraction of his wealth. The divestiture amounted to less than 4 per cent of his Amazon holdings, which had a value of $US116 billion on Friday.

Bloomberg



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