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Bezos Divorce Final; Both Jeff and Mackenzie Rank Among Richest

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In a divorce, both parties usually end up worse off financially. The marital assets are split between the spouses. As a result, the marital home is often sold and the parties have to downsize to a smaller home or even an apartment. A spouse who may have stayed at home with the children must now work.  Sometimes they have to take on multiple jobs to support their new lifestyle as a single person.

This is not always the case, however. In celebrity divorces or divorces where one or both spouses are wealthy, not much changes in terms of finances. Alimony may not be involved. The lesser-earning spouse could still end up with millions of dollars—or, in the case of Mackenzie Bezos, even billions of dollars.

Mackenzie, the wife of Amazon founder Jeff Bezos, finalized her divorce on July 5 in Seattle. The couple separated six months ago, after 25 years of marriage.  As part of the settlement, Mackenzie received a whopping $38.3 billion in Amazon stock. This amounts to 19.7 million shares of stock, or about 4% of the company’s stock.

The divorce could have been a lot more complicated, considering that billionaires often have complex assets that are intangible. For example, Bezos’ fortune consists mostly of Amazon stock. In addition, Washington, their home state, is a community property state, complicating things further.

The two married before Amazon was founded. While Mackenzie remained part owner of Amazon, she also worked as a novelist. The couple have four children.

Mackenzie, 49, is now the fourth-richest woman in the world, behind Alice Walton, daughter of Walmart founder Sam Walton, and Jacqueline Mars, part owner of candy giant Mars Inc. L’Oreal heiress Francoise Bettencourt Meyers is the world’s richest woman, boasting a net worth of more than $56 billion. Overall, she is the 22nd richest person in the world.

The divorce and asset division did not affect Jeff Bezos much in terms of finances. Even though his net worth topped $157 billion before the divorce, he remains the world’s richest person, with a net worth of $120 billion. Bill Gates, co-founder of Microsoft, is in second place with $107 billion. Jeff Bezos will retain 75% of the couple’s Amazon stock. He also retains voting control of Mackenzie’s shares. Mackenzie appears to be happy with the outcome of the divorce, as she has vowed to give half of the money to charity. 

Seek Legal Help

While the typical divorce does not involve billions or even millions of dollars, it is important to understand that assets will be divided. You likely will not end up with as much money as you had before, especially if you were the breadwinner of the family.

Property division in a divorce can seem unfair and frustrating. Fort Lauderdale divorce lawyer Edward J. Jennings, P.A. offers compassionate assistance for those going through a divorce. He can help you understand your rights so you achieve a fair outcome. Schedule a consultation by calling 954-764-4330 or filling out the online form.

Resource:

huffpost.com/entry/jeff-bezos-mackenzie-divorce-settlement_n_5d21dcbce4b0f31256857f40

https://www.ejj-law.com/thinking-about-diy-divorce-think-again/

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