Citizen Reporter
1 minute read
5 Apr 2019
8:15 am

World’s richest family announce divorce terms

Citizen Reporter

MacKenzie Bezos, 48, will be awarded about 4% of the company, a stake worth roughly $36 billion.

Amazon founder Jeff Bezos and his wife MacKenzie, who have four children, are splitting up after 25 years of marriage. GETTY IMAGES NORTH AMERICA/AFP/File/Jerod Harris

Amazon founder Jeff Bezos and his soon-to-be-ex-wife, MacKenzie Bezos, have announced a divorce settlement that will see her gaining ownership, though not the voting power, for 25% of the couple’s Amazon stock. The portion she will gain amounts to roughly 4% of Amazon or $36 billion (R510 billion).

The record divorce settlement – which also will award Jeff Bezos all of the former couple’s joint holdings in The Washington Post and a space-flight company, Blue Origin – is likely to remove uncertainty over the extent of his continued control over Amazon – a company he founded in 1994 and of which he remains CEO.

Forbes estimated Jeff Bezos’ worth earlier this year at $131 billion (R1.8 trillion) before the divorce settlement. The world’s second-richest person at the time was Microsoft co-founder Bill Gates, a neighbour of the Bezoses, with about $96.5 billion (R1.36 trillion), according to Forbes.

The marriage lasted 25 years and during that time they have had four children.

For more news your way, download The Citizen’s app for iOS and Android.