Attorney Michael de Broglio on: South Africa, Law, Politics, Attorneys, Sport, Photography, Technology, Gadgets, Media, Crime, Road Accidents Fund,
Divorce, Maintenance, Personal Injury, Medical Negligence
The divorce of Jeff Bezos, the Amazon founder, and his wife, MacKenzie, was recently finalised. In terms of the divorce settlement MacKenzie had 4% of the shares in Amazon transferred to her and at the time of writing this blog the value of those shares was $37 billion. That is so much money that it automatically makes her the 23rd richest person in the world and it also makes it the world’s most expensive divorce. I just cannot see that being topped for a very long time. It is very hard to imagine the wealth that is required for somebody who gets divorced to automatically become the 23rd richest person in the world, but one should never say never! Bezos himself now owns 12% of Amazon.
There is one story that has never been covered in the media in South Africa that I always enjoy and that is that his parents supported him when he started Amazon in Seattle. Interestingly enough, Seattle has 5 companies, in a city of 3,8 million people, that are bigger than the biggest company in South Africa by market capitalisation, namely Naspers. In any event, they invested $245 573 in Amazon in 1995. Obviously, to have had that much to invest they certainly had to be upper middleclass and cannot have been poor. In return they took a share in their son’s business. I would imagine, when investing in their son (and remember the father is his adopted father, because his natural father marched off into the distance) they cannot have imagined that that stake, and they have given quite a bit of it away to charity, subsequently would now be worth $30 billion! What parent would not dream of a child like that? On the other hand, they put their money where their mouths are, did not just encourage their child, but actually put down a lot of money considering that the average American retires with savings of $90,000 and they were very well rewarded for the best investment decision of their life. Before you ask, no, Jeff Bezos had no interest in his real father when the real father obviously decided that he wanted to make contact again and I think we can all understand why he would rebuff those approaches once he was a billionaire.
Posted by Michael de Broglio on Wednesday 21-Aug-19
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Comments
Michelle D said:
on Friday 20-Sep-19 02:49 PM
I can't really feel sorry for Jeff Bezos with regards to the money aspect of the divorce. Jeff Bezos and MacKenzie met before Amazon was even founded in 1994 and were married for 25 years, and have four children together. They had built a life together and no doubt she supported him through a lot and I would have been horrified if she hadn't gotten that kind of money. She didn't get $37 billion for getting divorced, she just got a portion of the wealth they accumulated together.
Tamaryn said:
on Friday 13-Sep-19 05:02 PM
Well done to his parents who believed in him and backed him- especially his adopted dad who stepped up to fill the shoes of his real father.
Zindy said:
on Friday 13-Sep-19 01:46 PM
That is craze figures! I can understand its a sensitive topic for some its not an easy process but im sure walking away with such an amount will keep her settled for a long while.
Bianca Taljaard said:
on Friday 13-Sep-19 12:54 PM
What!!!! I don't even know what to say, amazing how his parents supported him. Just a pity his marriage didn't work out.
Victoria said:
on Tuesday 03-Sep-19 12:33 PM
Wow to think because she got divorce she now becomes the 23rd richest person in the world, that is crazy! His parents must be extremely proud of what he has achieved.
Cornelie said:
on Tuesday 03-Sep-19 08:30 AM
OMW this is scary he build up his wealth and she becomes the 23rd riches. Glad for the children that they are investing but what a way to get rich.
Sinead said:
on Monday 02-Sep-19 04:45 PM
Wow. What an incredible story. Not what I expected when I read the title at all...
What great parents - believing in their child to that extent. And to him for becoming the person he is today!
The couple were married for quite a long period of time. And MacKenzie was there for the come up. So it is well deserved I guess... Good for her. But at the same time, money can't mend a broken heart.
Prishani said:
on Monday 02-Sep-19 04:36 PM
The settlement amounts in these celebrity divorces really shock me every time! It’s a touchy topic but if any partner contributes to the successes of the other then I suppose it is fair.
Claudia B said:
on Monday 02-Sep-19 08:42 AM
It's really good that his parents believed and also supported him. Not every parent does that. $37 Billion is so much money, she is very lucky.
Shristi said:
on Sunday 01-Sep-19 04:53 PM
I love the way his parents supported him and believed in him enough to invest such a large sum of money in his business.
Wow, $37 billion. She is surely set for the rest of her life!
Daniella said:
on Thursday 29-Aug-19 09:11 AM
What a horrible way to become the 23rd richest person in the world- I think when something like this happens it so easy to speculate her intentions however we will never truly know as only they were in the marriage.
Mathilda Du Preez said:
on Thursday 29-Aug-19 09:09 AM
This is amazing, what wonderful parents he has that supported him throughout. It is unfortunate that his marriage did not last but people change and we will not know what their exact reasons were to get a divorce.
One lucky girl tho!
Melissa said:
on Thursday 29-Aug-19 07:53 AM
That is why I always say make sure you marry the right person and take advise from your parents who can see outside the picture. I agree that divorce is an expensive thing. But that is life and things like this do happen. Money can't buy happiness
Megan said:
on Wednesday 28-Aug-19 12:36 PM
The fact that there is a show called "Married at first sight" makes me wonder how serious people take marriage. Yes I agree one doesn't enter a marriage with the intent of divorce but sometimes I do think people married the wrong person because they are in love with the idea of love. I've seen people about to break up and he pops out a ring which she doesn't turn down... In relation to this blog though, its great to have parents who support you and believe in you. Not many can say the same for themselves.
THEMBI said:
on Monday 26-Aug-19 04:42 PM
She has to get here shares because they started this company together.
sandra said:
on Friday 23-Aug-19 05:33 PM
She received a good deal. One wonders if someone marries purely for love or other benefits. Obviously the divorce case will explode all over media as he is the richest (or one of the richest according to Forbes).
Alexis said:
on Friday 23-Aug-19 02:45 PM
That is something hey, to become rich like that over night and all from marrying the 'right' person. And to be married for 26 yrs as well. Must be quire a sad state of af fairs to have it end this way.
Melissa van Tellingen said:
on Friday 23-Aug-19 09:06 AM
How great must it feel to know that your parents believe in you that much! And how proud must his parents not be of him! That's very inspiring.
Sad to know that his marriage did not work out. Just shows you that money can not buy a happy marriage. She is certainly a lucky lady and walking away with some of his hard earned money. I suppose no one ever gets married with the intension of getting divorced one day but she is set for life!
Sarah said:
on Friday 23-Aug-19 09:03 AM
I was very happy to read that he still ha his son best interests at heart. Divorce is a horrible to go through. That's why I don't want to get married
thabitha said:
on Friday 23-Aug-19 08:57 AM
Divorce is not an easy thing and I also don't think she was married to him to be rich
Courtney said:
on Wednesday 21-Aug-19 03:25 PM
That's why I'm so scared to get married. Divorce must be one of the most painful things to go thru. Money isn't always everything, I think most woman would prefer the love and comfort than the men leaving/getting a divorce. Doesn't matter how many millions you have, nothing can fix a broken heart!
Angelique Jurgens said:
on Wednesday 21-Aug-19 12:42 PM
No one gets married with the intent of getting divorced, especially when it's going to be dubbed as the most expensive divorce. Things must have really been bad if they decided to get divorced opposed to staying married and being seperated to spare the money. One thing is for sure - the girl married well! LOL.
Well done to him though - and so heart warming that his adopted father believed in him that much. I always say blood does not make you family. Any man can have or make a baby but it doesn't mean he is a father. I look up to men who marry woman and then take the role of father without a second look. That is how I grew up and I would never think my "adopted dad" was not my biological father if my mother didn't tell me. Raised me as his own and there is no way that I would want anything to do with my biological father now that he wants to know me :) (And I do not have a billion dollar company somewhere hidden lol!)
candice said:
on Wednesday 21-Aug-19 12:42 PM
I think that his Parents done a great thing for him by investing that money,and i think in most celebrity cases there is always a parent that was not involved in the child's life that wants to make contact once they see that there is money to be made. But i'm sure most people will see through that.
Lucretia said:
on Wednesday 21-Aug-19 12:15 PM
Wow, what an investment. And Kudo's to Jeff and his parents for turning a $245 thousand $ investment into a $ billion investment. As for his biological father, he deserves not to see a dim of the money. You cannot relinquish your responsibility as a parent and then when the stakes are up, make contact. How foolish of him to even entertain that idea.
Bianca N said:
on Wednesday 21-Aug-19 08:55 AM
Divorce already is an unpleasant thing to go through, but also signing over someone worth that amount of money must make the whole thing more unpleasant. On the other hand, it was only 4% which goes to show how much that company is worth. Good on his parents for investing in their child. They must be very pleased with what he has accomplished,
Michelle Smillie said:
on Wednesday 21-Aug-19 08:30 AM
I find it inspiring to read about stories like this - where an adopted parent loves a child as their own, and invests in them. They set a great example for him and for other parents. It is also sad to think that his biological father then wanted to make contact again - although it is not that strange to hear. I am sure that his adopted father raised him with a lot of love and care - that is usually a recipe for success, which he definitely has.
Brumilde Cronje said:
on Wednesday 21-Aug-19 07:08 AM
Its not a rags to riches story but it does show that some parents can and do help their children, they must be very proud. I would be. Terrible that allot of woman actually get very rich in a divorce settlement. Money makes the world go round as they say
Johannesburg based attorney specializing in personal injury matters including Road Accident Fund claims and medical negligence matters. My interests include golf, reading and the internet and the way it is constantly developing. I have a passion for life and a desire for less stress!
