Amazon’s Bezos finalizes divorce with $38bn settlement

The couple announced their plan to divorce in a joint Twitter statement in January. (File/Reuters)
Updated 06 July 2019

Amazon’s Bezos finalizes divorce with $38bn settlement

  • MacKenzie Bezos will receive approximately 19.7 million Amazon.com shares, giving her a four percent stake in the company
  • Jeff Bezos will retain a 12 percent stake and remain the world’s richest man

SAN FRANCISCO: Amazon founder Jeff Bezos and MacKenzie Bezos finalized their divorce Friday to the tune of a $38-billion settlement, Bloomberg News reported.
Under the agreement, MacKenzie Bezos, 49, will receive approximately 19.7 million Amazon.com shares, giving her a four percent stake in the company valued at $38.3 billion, and landing her at 22nd on the Bloomberg Billionaires Index, the news service said.
A judge in Washington state’s King County finalized the divorce. Jeff Bezos, 55, will retain a 12 percent stake and remain the world’s richest man.
MacKenzie Bezos, a novelist, has said she would give all of her stake in The Washington Post and the space exploration firm Blue Origin to her husband as well as voting control of her remaining Amazon stock.
She has also promised to donate half her fortune to charity, joining the ranks of the world’s ultra-wealthy philanthropists as a signatory of the Giving Pledge.
The personal life of Jeff Bezos was thrust into the spotlight with the announcement in January that he and his wife were divorcing after 25 years of marriage and the revelation by the National Enquirer that he had been having an affair with a former news anchor, Lauren Sanchez.
Jeff and MacKenzie Bezos married in 1993 and have four children. Jeff Bezos founded Amazon in their Seattle garage in 1994 and turned it into a colossus that dominates online retail.


‘King of the road’ rules again as Philippines eases coronavirus lockdown

Updated 03 July 2020

‘King of the road’ rules again as Philippines eases coronavirus lockdown

  • Just 6,000 jeepneys back in business, operating at half capacity under strict social distancing rules
  • First jeepneys were surplus army jeeps left behind by the US military after World War Two

MANILA: Thousands of jeepneys, flamboyantly decorated jeeps that serve as cheap public transport across the Philippines, were back on the streets of Manila on Friday, bringing relief to companies and commuters who have struggled with coronavirus curbs.
Dubbed “the king of the road,” an estimated 55,000 of these large, multi-colored trucks, used to crawl through Manila’s gridlocked roads on a typical day before being forced to a halt 15 weeks ago when the government imposed a coronavirus lockdown.
Just 6,000 were back in business on Friday, operating at half capacity under strict social distancing rules. In pre-pandemic times, jeepneys routinely carried up to 15 passengers who sat knee-to-knee on twin benches in the windowless vehicles, choked by exhaust fumes.
“I’m very happy we are now back on the road. This is our only source of income,” said driver Celo Cabangon, whose truck is decorated with Japanese and Philippine flags, Bible verses and the logo of US sci-fi film “Transformers.”
Under the new rules, passengers must also undergo temperature checks before boarding and shield themselves from one another with face masks and plastic sheets. The Philippines has recorded 40,000 coronavirus cases, and 1,280 deaths.
Commuter Alejandra Carable welcomed the jeepney’s return. “Our expenses are too much without jeepneys. We can save much more now that the jeepneys are back.”
A jeepney fare is typically about 9 pesos ($0.18), cheaper than trains, taxis or motorized tricycles, which were allowed back on the road a month ago when authorities started easing one of the world’s longest and strictest lockdowns.
A phased return to work has been chaotic without jeepneys, with commuters stranded and some companies unable to provide sufficient private transport.
The first jeepneys were surplus army jeeps left behind by the US military after World War Two. Most are festooned with religious slogans or horoscope signs and are in poor shape.