Around the World
Jeff Bezos and wife, MacKenzie, split Amazon shares as divorce nears end
The Founder and Chief Executive Officer of Amazon, Jeff Bezos, will retain his voting power in the company after reaching a divorce agreement with his wife, MacKenzie.
The Founder and Chief Executive Officer of Amazon, Jeff Bezos, will retain his voting power in the company after reaching a divorce agreement with his wife, MacKenzie. The agreement will also enable Bezos to retain his world richest man spot.
The shares agreement: In the settlement, Jeff Bezos will keep the voting control of his entire $143 billion stake in Amazon, with his wife, MacKenzie expected to own 25 percent of those shares.
MacKenzie’s stake in Amazon will be worth roughly $36 billion, representing a 4 percent stake in Amazon. This will make her the world’s third-richest woman.
The level of Bezos’ influence in Amazon became a topic for debate in the business world after the couple’s impending divorce was made public. There were reports that he could lose his spot on the World Richest Man’s list. But this latest development has doused such a possibility.
In addition, MacKenzie will give up her interests in the Washington Post, which Jeff Bezos bought in 2013 and the rocket company, Blue Origin, which Bezos founded in 2000.
MacKenzie, who joined Twitter less than 24 hours ago just to announce the finalisation of the divorce, also outlined the agreement.
— MacKenzie Bezos (@mackenziebezos) April 4, 2019
In response, Bezos appreciated her support and said he was grateful for her kindness during the process.
— Jeff Bezos (@JeffBezos) April 4, 2019
There’s a clause in the agreement
Bezos continues to have the controlling vote if MacKenzie doesn’t donate her shares to a nonprofit or sell them in the open market. Until then, Bezos remains the single largest shareholder with a 16.3 percent stake, as disclosed in a proxy statement by Amazon.
The settlement is pleasing, as this means Amazon won’t have to go through leadership tussle as experienced by some companies going through similar family rifts.
Why they are divorcing: There are two sides to the story. While the couple had claimed that they were on a “long period of loving exploration and trial separation”, an American publication, National Enquirer, published intimate text messages between Bezos and his alleged new partner, former television news anchor Lauren Sanchez. Some alleged photos were also published, all to prove that the couple’s divorce wasn’t amicable.
The agreement will take effect once the court approves the divorce, which is expected to occur within the next 90 days.
Around the World
Trump to return to social media with his own platform in 2 months
Over 2 months after he was banned from Twitter, Facebook, others, Donald Trump is working on making a return.
Former US President, Donald Trump, will be back on social media in the near future, over 2 months after he was banned from Twitter, Facebook, and others.
This follows plans by the former President to launch his own social media platform within the next 2 or 3 months.
This disclosure was made by Trump’s Senior Adviser, Jason Miller, on Sunday, March 22, 2021, during a chat with Fox News’ #MediaBuzz.
READ: President Biden revokes Trump’s ban for green card applicants in US
What Donald Trump’s Senior Adviser is saying
Jason Miller, who was a spokesman for Trump’s 2020 campaign, told the media network that the former President would soon get back to social media space with a new platform of his own that would completely redefine the game.
Miller, while talking to Fox News, said, “I do think that we’re going to see President Trump returning to social media in probably about two or three months here, with his own platform. And this is something that I think will be the hottest ticket in social media; it’s going to completely redefine the game, and everybody is going to be waiting and watching to see what exactly President Trump does.”
Although he did not provide more in terms of details, Miller revealed that Trump had been having high-powered meetings at his Florida resort, Mar-a-Lago, with various teams regarding the venture, and that numerous companies had approached Trump.
Miller said the new platform was going to be big, while also predicting that Trump would draw tens of millions of people.
In case you missed it
- It can be recalled that former President Trump was banned from Twitter after the January 6, attack on the Capitol by his supporters. He was accused of inciting his supporters after he rejected the US Presidential election result which he claimed was a fraud.
- Twitter last week said it would seek public input on when and how it should ban world leaders, saying it was reviewing its policy and considering whether leaders should be held to the same rules as other users.
Around the World
Tesla investor sues Elon Musk for causing problems with his tweets
An investor in the US electric car maker, Tesla, has sued the company’s founder, Elon Musk over alleged erratic tweets.
Elon Musk, the controversial multi-billionaire is being sued by an investor in his company. Musk is being accused by the investor of unsettling the markets and exposing his investors to high risk with his “erratic tweets”.
Chase Garrity an investor in the US electric car maker, Tesla, has sued the founder of the company for his erratic Twitter messaging which according to him, has exposed the company to high legal risks and billions in price losses.
The 105-page lawsuit was published in the US court of Delaware and it accuses Musk of violating the settlement negotiated with the US Securities and Exchange Commission in 2018.
READ: Battle of Titans: Elon Musk, Jeff Bezos share world’s richest title
The lawsuit also includes the entire Tesla board and its supervisory body for not calling Musk to order.
In May 2020 Musk caused a 14 billion dollar loss in market value on a single trading day with a series of unguarded tweets. He tweeted about Tesla’s market value being too high and how he was going to dispose of all physical assets.
The lawsuit stated that any further unbridled tweet from Musk would have dire consequences for Tesla’s future funding opportunities.
READ: Elon Musk gains $25 billion in a day, as Tesla surges by 20%
What you should know
- Remember Nairametrics posted a story on how Musk tweets once again caused a serious ripple effect in the crypto world. His tweet helped Bitcoin gain $6000. He later invested heavily in Bitcoin.
- Manager Magazine stated that analysts are not comfortable with such a move and view it as some kind of manipulation.
- Musk in April last year posted a joke photo of Tesla going bankrupt. This once again unsettled investors.
- Tesla Management has not released a statement on this fresh lawsuit.
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