Amazon CEO Jeff Bezos and wife MacKenzie to divorce

Agencies
January 10, 2019

Jan 10: Amazon.com Inc founder and Chief Executive Jeff Bezos, the world's richest person, and his wife MacKenzie Bezos are divorcing after 25 years of marriage, the couple said on Twitter on Wednesday.

Jeff Bezos, 54, has a fortune that has soared as high as $160 billion thanks to his stake in Amazon, which again became Wall Street's most valuable company this week, surpassing Microsoft Corp.

Bezos has credited MacKenzie, 48, for her support when he uprooted the young couple to Seattle from New York to launch Amazon, an online bookseller that grew into the world's largest internet retailer.

MacKenzie Bezos, a Princeton graduate who is now a novelist, did accounting for Amazon for its first year after it was founded in 1994.

The couple decided to divorce after a long period of "loving exploration" and trial separation, and expect to remain partners in ventures and projects, according to the joint statement.

Amazon shares ended up 0.2 percent on Wednesday. The divorce should have no material impact on the company and its shares, said Tom Forte, an analyst at DA Davidson & Co.

According to Refinitiv Eikon data, MacKenzie does not hold any Amazon shares directly, while Bezos has a 16.1 percent stake worth about $130 billion. Forbes magazine now estimates his overall net worth at $137.1 billion.

Liat Sadler, a San Francisco matrimonial lawyer, noted that spouses owe a fiduciary duty to one another.

“They have duties not to waste or devalue marital resources, and to keep the value of marital property as high as possible,” she said. “I don't think there is an issue of concern for shareholders as to what will happen to Amazon because of the divorce."

Sadler said the main options facing the couple regarding Amazon stock were for Jeff Bezos to buy out his wife, or for MacKenzie Bezos to retain shares.

"If she trusts that he would manage Amazon well, either he should pay her for her share of the stock, or they could enter a more complicated agreement where she keeps stock and he keeps voting rights,” she said.

It is unlikely that many details of the divorce will become public, according to New York lawyer Bernard Clair, who represents Judith Giuliani in her divorce from Rudolph Giuliani, the former New York City mayor and current lawyer for U.S. President Donald Trump.

"These two have been separated for a not insignificant time, and I would assume ... they would have used the time to reach a private, confidential agreement,” Clair said, referring to Jeff and MacKenzie Bezos.

Reuters was unable to determine any further financial details of the planned divorce.

"Jeff remains focused on and engaged in all aspects of Amazon," said Drew Herdener, vice president of communications for the company. He declined to comment on how the divorce might affect the ownership stake.

MacKenzie Bezos met her husband when interviewing for a job at a New York hedge fund, according to a 2013 profile in Vogue.

The two were engaged after three months of dating and married three months after that, according to the magazine. They have four children.

Speaking at an event in Berlin last April, Jeff Bezos said his wife's support was instrumental when he founded Amazon.

"When you have loving and supportive people in your life, like MacKenzie, my parents, my grandfather, my grandmother, you end up being able to take risks," he said.

Jeff Bezos in September committed $2 billion through the Bezos Day One Fund to helping homeless families and starting pre-schools for low-income communities. He had solicited ideas on Twitter in 2017 for ways to donate some of his wealth.

Last January, the couple donated $33 million to fund college scholarships for U.S. high schoolers with Deferred Action for Childhood Arrivals (DACA) status, an Obama-era program protecting young immigrants brought to the United States illegally by their parents.

In 2012, they donated $2.5 million to a Washington state campaign to legalize same-sex nuptials there.

From modest beginnings, Amazon branched out into almost every product category, taking on established retailers such as Walmart Inc.

In November, Amazon picked America's financial and political capitals for massive new offices, branching out from its home base in Seattle with plans to create more than 25,000 jobs in New York City and a Virginia suburb of Washington, D.C.

Jeff Bezos also founded space company Blue Origin in 2000, and is funneling more than $1 billion a year of his own fortune into pulling it out of start-up mode and into production.

He also owns the Washington Post, which has been a frequent target of criticism from Trump.

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News Network
March 10,2020

Tehran, Mar 10: Twenty-seven people have died from methanol poisoning in Iran after rumours that drinking alcohol can help cure the novel coronavirus infection, state news agency IRNA reported on Monday. The outbreak of the virus in Islamic republic is one of the deadliest outside of China, where the disease originated.

Twenty have died in the southwestern province of Khuzestan and seven in the northern region of Alborz after consuming bootleg alcohol, IRNA said.

Drinking alcohol is banned in Iran for everyone except some non-Muslim religious minorities. Local media regularly report on lethal cases of poisoning caused by bootleg liquor.

A spokesman for Jundishapur medical university in Ahvaz, the capital of Khuzestan, said 218 people had been hospitalised there after being poisoned.

The poisonings were caused by "rumours that drinking alcohol can be effective in treating coronavirus," Ali Ehsanpour said.

The deputy prosecutor of Alborz, Mohammad Aghayari, told IRNA the dead had drunk methanol after being "misled by content online, thinking they were fighting coronavirus and curing it." If ingested in large quantities, methanol can cause blindness, liver damage and death.

Iran has been scrambling to contain the spread of the COVID-19 illness which has hit all of the country's 31 provinces, killing 237 people and infecting 7,161.

According to IRNA, 16 out of 69 confirmed cases have died of coronavirus infection in Khuzestan as of Sunday.

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News Network
May 11,2020

Kabul, May 11: Four back-to-back roadside bombs exploded in a northern district of Afghanistan's capital Kabul on Monday, wounding four civilians including a child, police said. Kabul police spokesman Ferdaws Faramarz said a clearance team was at the site of the attacks.

Militants have carried out several roadside bombings and rocket attacks in Kabul and other parts of the country in recent weeks, but Monday's four consecutive explosions appeared to be the first coordinated effort for some months.

The Taliban has not carried out any large attacks in the city since they signed a landmark withdrawal deal with the US in February, meant to pave the way for peace in the country. No group has claimed the attacks. The explosions come as authorities are trying to impose a lockdown in the capital to curb the spread of coronavirus in the country.

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News Network
June 4,2020

Jun 4: Mahatma Gandhi’s statue outside the Indian Embassy in Washington DC was vandalised with graffiti and spray painting by unknown persons allegedly involved in the ongoing protests in the US against the custodial killing of African-American George Floyd.

This has prompted the mission officials to register a complaint with the local law enforcement agencies.

The incident is reported to have taken place on the intervening night of June 2 and 3 in Washington DC.

The Indian embassy has informed the State Department and registered a complaint with local law enforcement agencies, which are now conducting an investigation into the incident.

On Wednesday, a team of officials from Metropolitan Police in consultation with the Diplomatic Security Service and National Park Police visited the site and are conducting inquiries.

Efforts are on to clean up the site at the earliest.

Vandalism of the statue of the apostle of peace comes during the week of nationwide protests against the custodial killing of African-American George Floyd in Minneapolis on May 25.

Several of these protests have turned violent which many times has resulted in damage of some of the most prestigious and sacred American monuments.

In Washington DC, protestors this week burnt a historic church and damaged some of the prime properties and historic places like the national monument and Lincoln Memorial.

One of the few statues of a foreign leader on a federal land in Washington DC, the statue of Mahatma Gandhi was dedicated by the then Prime Minister Atal Bihari Vajpayee, in the presence of the then US president Bill Clinton on September 16, 2000, during his state visit to the US.

In October 1998, the US Congress had authorised the government of India to establish and maintain a memorial “to honour Mahatma Gandhi on Federal land in the District of Columbia."

According to the Indian Embassy website, the sculpture of Mahatma Gandhi is cast in bronze as a statue to a height of 8 feet 8 inches. It shows Gandhi in stride, as a leader and man of action evoking memories of his 1930 protest march against salt-tax, and the many padyatras (long marches) he undertook throughout the length and breadth of the Indian sub-continent.

The statue, the design of which was created by Gautam Pal, is a gift from the Indian Council for Cultural Relations (ICCR). The pedestal for the statue of Mahatma Gandhi is a block of new Imperial Red also known as Ruby Red a block originally weighing 25 tonnes reduced to a size of 9'x7'x3'4". It now weighs 16 tonnes.

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