Investors can relax: Jeff Bezos has retained control of Amazon
Ecommerce giant Amazon will remain firmly under the control of founder and CEO Jeff Bezos following the divorce from his wife of 25 years, MacKenzie Bezos. Investors can now breathe a sigh of relief – although it has to be said that they didn’t exactly panic when the split was announced in January. There are a couple of reasons for that – not least, the amicable manner in which Mr. & Mrs. Bezos conducted the separation. Still, when what’s at stake is the driving seat in one of the world’s largest and most profitable companies, any threat averted (however unlikely) is great news!
Amazon’s share price has increased by 24% year to date
Source: Yahoo Finance
RJ Hottovy, a Morningstar analyst, summed up the consensus opinion when he said: “I see the announcement as a positive for shareholders. The fact that Jeff Bezos will retain sole voting authority over the shares should alleviate some ownership concerns.”
The couple’s marriage was, apparently, always a case of opposites attracting. Friends have commented that the introverted MacKenzie (an author) was very different from her (soon to be ex) husband, who tended to talk to every person in the room. Despite these differences, and news of a relationship between Mr. Bezos and a third-party, the two seem to have remained close.
Mrs. Bezos will retain 4% of Amazon – although she has opted to give over her interests to Mr. Bezos. In a sign of just how big Amazon has become, that 4% will make Mrs. Bezos the world’s fourth-richest woman. (Mr. Bezos, despite the divorce, will remain the world’s richest man).
In a statement on Twitter, Mrs. Bezos wrote: “Grateful to have finished the process of dissolving my marriage with Jeff with support from each other and everyone who reach out to us in kindness. Happy to be giving him all of my interests in the Washington Post and Blue Origin, and 75% of our Amazon stock plus voting control of my shares to support his continued contributions with the teams of these incredible companies.”
Dominion holds Amazon in its Global Trends Ecommerce Fund.
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