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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coastaldigest.com News Network
April 25,2020

Bengaluru, Apr 25: Bajrang Dal's former Karantaka satate convenor Mahendra Kumar, who dedicated last decade of his life to expose the misdeeds and lies of Sangh Parivar, passed away today due to cardiac arrest here. He was 47 years old.

Kumar was undergoing treatment at Ramaiah hospital Bengaluru where he breathed his last today (April 25) morning. His final rites will be held in his hometown, sources said.

Kumar, who hailed from Koppa in Chikkamagaluru was a resident of Bengaluru.

He had reportedly involved in the 2008 attacks on Christians' places of worship in Mangaluru and Chikkamagaluru and had faced arrest for that. 

However, he quit Bajrang Dal same year and the apologized to Christians. He joined Janata Dal (Secular) in 2011.

After quitting Bajrang Dal and adopting left ideology, he openly attacked the ideology of right-wing outfits. 

He founded Jana Dhwani movement as a voice for the oppressed classes of the state. He used social media to attack the "manuvaad" for past one decade.

Comments

AA
 - 
Sunday, 26 Apr 2020

Rest in peace.....Sir

who will take over his job, who will fulfill his wishes to free this country from manuvad..?

Angry Indian
 - 
Saturday, 25 Apr 2020

GOD will turn the table for his good work at the last moment...we really lost good voice who is to support humanity...

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Agencies
August 7,2020

Russia boasts that it's about to become the first country to approve a Covid-19 vaccine, with mass vaccinations planned as early as October using shots that are yet to complete clinical trials -- and scientists worldwide are sounding the alarm that the headlong rush could backfire.

Moscow sees a Sputnik-like propaganda victory, recalling the Soviet Union's launch of the world's first satellite in 1957.

But the experimental Covid-19 shots began first-in-human testing on a few dozen people less than two months ago, and there's no published scientific evidence yet backing Russia's late entry to the global vaccine race, much less explaining why it should be considered a front-runner.

“I'm worried that Russia is cutting corners so that the vaccine that will come out may be not just ineffective, but also unsafe,” said Lawrence Gostin, a global public health law expert at Georgetown University. “It doesn't work that way... Trials come first. That's really important.”

According to Kirill Dmitriev, head of Russia's Direct Investment Fund that bankrolled the effort, a vaccine developed by the Gamaleya research institute in Moscow may be approved in days, before scientists complete what's called a Phase 3 study.

That final-stage study, usually involving tens of thousands of people, is the only way to prove if an experimental vaccine is safe and really works.

Health Minister Mikhail Murashko said members of “risk groups,” such as medical workers, may be offered the vaccine this month.

He didn't clarify whether they would be part of the Phase 3 study that is said to be completed after the vaccine receives “conditional approval.”

Deputy Prime Minister Tatyana Golikova promised to start “industrial production” in September, and Murashko said mass vaccination may begin as early as October.

Dr Anthony Fauci, the top US infectious disease specialist, questioned the fast-track approach last week.

“I do hope that the Chinese and the Russians are actually testing a vaccine before they are administering the vaccine to anyone, because claims of having a vaccine ready to distribute before you do testing I think is problematic at best," he said.

Questions about this vaccine candidate come after the US, Britain and Canada last month accused Russia of using hackers to steal vaccine research from Western labs.

Delivering a vaccine first is a matter of national prestige for the Kremlin as it tries to assert the image of Russia as a global power capable of competing with the US and China.

The notion of being “the first in the world” dominated state news coverage of the effort, with government officials praising reports of the first-step testing.

In April, President Vladimir Putin ordered state officials to shorten the time of clinical trials for a variety of drugs, including potential coronavirus vaccines.

According to Russia's Association of Clinical Trials Organizations, the order set “an unattainable bar” for scientists who, as a result, "joined in on the mad race, hoping to please those at power.”

The association first raised concern in late May, when professor Alexander Gintsburg, head of the Gamaleya institute, said he and other researchers tried the vaccine on themselves.

The move was a “crude violation of the very foundations of clinical research, Russian law and universally accepted international regulations" the group said in an open letter to the government, urging scientists and health officials to adhere to clinical research standards.

But a month later, the Health Ministry authorized clinical trials of the Gamaleya product, with what appeared to be another ethical issue.

Human studies started June 17 among 76 volunteers. Half were injected with a vaccine in liquid form and the other half with a vaccine that came as soluble powder.

Some in the first half were recruited from the military, which raised concerns that servicemen may have been pressured to participate.

Some experts said their desire to perform well would affect the findings. “It's no coincidence media reports we see about the trials among the military said no one had any side effects, while the (other group) reported some," said Vasily Vlassov, a public health expert with Moscow's Higher School of Economics.

As the trials were declared completed and looming regulatory approval was announced last week, questions arose about the vaccine's safety and effectiveness.

Government assurances the drug produced the desired immune response and caused no significant side effects were hardly convincing without published scientific data describing the findings.

The World Health Organization said all vaccine candidates should go through full stages of testing before being rolled out.

“There are established practices and there are guidelines out,” WHO spokesman Christian Lindmeier said Tuesday.

“Between finding or having a clue of maybe having a vaccine that works, and having gone through all the stages, is a big difference.”

Offering an unsafe compound to medical workers on the front lines of the outbreak could make things worse, Georgetown's Gostin said, adding: “What if the vaccine started killing them or making them very ill?”

Vaccines that are not properly tested can cause harm in many ways — from a negative impact on health to creating a false sense of security or undermining trust in vaccinations, said Thomas Bollyky, director of the global health program at the Council on Foreign Relations. 

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News Network
February 3,2020

New Delhi, Feb 3: In the third such incident inside of a week, two unidentified persons opened fire outside Gate No. 5 of Jamia Millia Islamia on Sunday night, the Jamia Coordination Committee (JCC) said.

A statement issued by the committee, a group comprising students and alumni of the university formed to protest against the Citizenship Amendment Act, said the attackers were on a red Rcooty.

No one was injured in the attack. One of the miscreants was wearing a red jacket, the statement said.

"Firing has taken place at Gate No.5 of Jamia Millia Islamia right now by two unidentified persons. As per report, one of them was wearing a red jacket and driving a red Scooty having vehicle no. 1532 or 1534," the statement said.

Police said they were verifying the JCC's claims.

Asim Mohammed Khan, former Congress MLA from Okhla, said the incident occurred around 11.30 pm. "We heard the gunshot. That is when we stepped out to see and the two men left on a Scooty," a student said.

"We have taken down the vehicle number and called police," he added.

This is the third firing incident in the Jamia Nagar area in a week.

On Thursday, a minor fired at anti-CAA protesters marching towards Rajghat, injuring a student.

Two days later, a 25-year-old fired two rounds in air in Shaheen Bagh in Jamia Nagar. No one was hurt in the incident.

The incident on Sunday night triggered panic in the area. A police vehicle had reached the spot after the incident but was chased away by angry students.

Hundreds of students and locals gathered outside the university.

Many raised slogans against the Delhi Police. They also staged a dharna outside the Jamia Nagar police station.

Shezad Ahmed, a JMI student and resident of Zakir Nagar, said they were not even allowed to protest peacefully.

"We are not going to be deterred by such incidents. We will continue with our protest," he added.

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