Monday 21 October 2019

Bezos divorce agreement ends concern over who will control giant Amazon

 

Jeff and MacKenzie Bezos’ divorce deal sees him retain control of the online giant
Jeff and MacKenzie Bezos’ divorce deal sees him retain control of the online giant

Spencer Soper and Matt Day

Amazon chief executive Jeff Bezos will retain 75pc of his stock in the company following his divorce from MacKenzie Bezos, the couple have announced, eliminating concern the split would influence his control over one of the world's most valuable businesses.

Bezos will continue to be the largest shareholder of the e-commerce giant, valued at almost $900bn (€800bn), and gain voting control of his former wife's remaining shares.

He will also maintain ownership of The Washington Post and his space exploration company, Blue Origin.

Amazon investors mostly shrugged off news in January of the couple's divorce after 25 years of marriage.

This week's statement confirms the company faces few complications, said RJ Hottovy, an analyst at Morningstar. "I see the announcement as a positive for shareholders," he said. "The fact Jeff Bezos will retain sole voting authority over the shares should alleviate some ownership concerns."

MacKenzie Bezos retains 4pc of Amazon, or about 19.7 million shares worth about $35.7bn (€31.8bn), the company said, making her the world's fourth-richest woman, according to data compiled by Bloomberg.

Bloomberg

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