Coates & Davenport, P.C.

Amazon CEO and wife reach settlement in their high-asset divorce

Amazon has become a household name and most people in Virginia have either ordered something from the online retail giant at some point in time or at least know someone who has. Therefore, they may be interested to hear of the outcome of the divorce of Amazon CEO, Jeff Bezos and what it means for the future of Amazon.

Jeff Bezos, CEO of the online retailer Amazon, has recently reached an agreement in his divorce from his estranged wife, MacKenzie Bezos. Reports state that Mrs. Bezos will retain 25 percent of the couples' stock in Amazon, giving her a four percent interest in the company overall, an amount worth approximately $35 billion. Mr. Bezos will retain voting control over Mrs. Bezos' shares in Amazon as well as the shares he retains himself. If Mrs. Bezos wishes to sell her shares in Amazon, the party purchasing the shares will have to enter into a contract with Mr. Bezos in which Mr. Bezos retains voting rights over those shares. Mr. Bezos will also keep the couple's interests in Blue Origin and the Washington Post.

The couple separated in January after having been married 25 years. Amazon was launched during the course of their marriage. Mr. Bezos has a net worth of around $150 billion. Because the couple resided in Washington, a community property state, there was much speculation as to how Amazon, a marital asset, would be divided. The couple has four children together.

It appears that the couple is parting on amicable terms, with Mrs. Bezos reportedly being happy to give Mr. Bezos voting control over her Amazon shares. Mr. Bezos was reportedly grateful for Mrs. Bezos's support and kindness as they settled their divorce legal issues. Not all high asset couples going through a divorce will end their union on such friendly terms. However, if they can work together to reach a settlement out of court, it could be better for them both financially and emotionally.

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