People 15 January 2019
"Steve and Elaine Wynn´s 2010 $1 billion divorce settlement, the largest to date, will likely pale in comparison once the split between Jeff Bezos and his soon-to-be-ex MacKenzie is finalized.
Bezos just shared the news of his imminent divorce in a tweet, adding that he and his wife of 25 years “remain a family and... remain cherished friends." The message was signed, “Jeff & MacKenzie" and everything points to an amicable split, rather than a nasty battle which might cause their fortune and legacy to suffer.
“We've had such a great life together as a married couple, and we also see wonderful futures ahead, as parents, friends, partners in ventures and projects, and as individuals pursuing ventures and adventures," wrote the Bezos, who have four children together, including one adopted from China.
Though there are rumors that Jeff has been seeing another woman, both MacKenzie and he realize that the effect of an ugly and public fight could have an immense value reduction result to their companies. Like many other divorcing film stars, sports figures, and high visibility personal brands, they are well aware of the perilous prospect of any potential public airing of their intimate laundry.
With a net worth estimated at $137 billion, Bezos can surely afford an expensive divorce, but the problem will be for the attorneys and accountants when they are faced with the question as to how much Bezos' most successful creation, Amazon, is worth. What is the most valuable company in the world worth? It would overwhelm the court system just to argue over the company's value and the rest of Bezos' many holdings and financial interests around the world.
Whatever Amazon's price tag might be, the Bezoses will have to share it, due to the fact that Washington State is a community property jurisdiction. This means that the fortune amassed during the marriage is communal property.
Considering Jeff founded Amazon a year after he married MacKenzie, the assets in question are something to reckon with. She might, in fact, receive a staggering $66 billion, based on Amazon's current valuation and the amount of stocks owned by Bezos. In this scenario, it would be a shock if she should get anything under tens of billions.
Depending on that figure, Bezos might be forced to sell part of his ownership of Amazon in order to pay for his divorce. If that happens, he might no longer be in control of the company. But, how much is Amazon worth without Bezos' vision and guidance? Probably not the same as with him on board…
If MacKenzie doesn't want to kill the chicken that lays the golden eggs, it is likely that she will settle for an amount that doesn't compromise Bezos' control of the e-commerce giant, or come up with a payment plan that allows him to keep guiding Amazon's future.
Billionaire divorces are much that same as for the rest of us. The hurt and pain are just the same, the same laws apply; the only difference is the scale and value of an equitable distribution. Certainly, more lawyers and more accountants and tax advisors are usually involved, but the rest can be quite similar to any other divorce.
Hot Startups and Divorce
There are numerous examples of messy tech billionaire divorces. Silicon Valley has seen many fierce battles over ownership of some of the largest global companies. When FarmVille billionaire Mark Pincus, who was one of the first to invest in Twitter and Facebook, split from his former wife Alison, his $1.28 billion fortune was at stake. In spite of the existence of a prenup, Alison asked the court to nullify it, because her husband's finances had changed so dramatically during the marriage.
In the unique landscape of today's tech billionaires, with massive wealth, complex assets, and alpha personalities, many are opting for prenups, but Bezos, who married a quarter of a century ago, reportedly didn't have one. And although he could have implemented a post-nuptial prenup at some point, that was not the case. Others, like Snapchat billionaire Evan Spiegel, were more careful. When Spiegel decided to tie the knot with model Miranda Kerr, his attorneys presented her with an ironclad prenup to secure his $4 billion fortune.
Without a prenup, any billion-dollar divorce might go South. But while many billionaires and mega celebrities might have the inclination to fight a fierce battle, in the case of Jeff and MacKenzie Bezos, my forecast is for a mostly turbulence-free split.
The Bezos Legacy
Yet, conflicts might still arise. I believe the most complex negotiations will come down to two things: the family's philanthropy and the actual valuation of an immense asset mosaic. On the philanthropy front, these heavily moneyed individuals will have to make important decisions about their now-separate legacies and contributions to society. At this level, they are not fighting about who will pay for the kids' college or who will get the Hamptons house. Bezos v. Bezos will likely come down to what MacKenzie wants for her legacy, her philanthropy, rather than merely her lifestyle.
While some high-net-worth divorces can end a career or completely ruin someone's prospects. Surely, this is not going to be the case for either Bezos or his wife. After all, this is the man who said, “It's not an experiment if you know it's going to work."
2 Min Read
It all started when I began documenting my daughter's 436-day hospital stay on Instagram.
She was a perfectly healthy 3-year-old and out of nowhere had a ruptured appendix made worse by a failed immune system. Sepsis began to consume her body and talking about it on social media was my way to cope with the fear of the unknown.
The doctors saved her life that night in January of 2018, but it was touch and go for a while until the doctors decided she was ready for a bone marrow transplant.
By then my daughter Theresa and our family had gained attention locally and nationally because of the rarity of her disorder. It doesn't even have a name. People would comment day and night on my Instagram posts wanting updates about how she was doing and wanting to see her on video.
View this post on Instagram436+ days in the hospital with Theresa taught me how to prepare to be productive during shelter in place . When you really couldn't go anywhere often while in the hospital . Not like there was anywhere TO GO... just waiting day in and day out for answers that took a long while . Didn't want to venture out much because didn't want to get Theresa sick . It feels VERY similar to now. Little within your control no matter how much you'd panic and worry . You realize you can see this as an opportunity for growth or an opportunity to let fear and worry consume you . . Let me give you my best advice on how to tackle shelter in place, from someone who gets it all too well . . 1️⃣ Develop your new routine: some may say to keep your normal routine but chances are we've gotta adapt things, like training schedules and coaching calls to fit with the fact the kiddos are home 😅 . 2️⃣ Fill your cup first: get an iced latte, take a walk, take a nap, whatever you gotta go to feel your best before you pour into working on your new project or content . 3️⃣ communicate: talk to your spouse and kiddos and ask for their support in your balancing life, family and work. Ask what they need from you right now and share how they can best support you . 4️⃣ Create as much as you consume: it's easy to get sucked into scrolling and the next thing you know the sun has set ☀️ set a timer ⏱ to step away from your tiktok for you page (just me? 😂😂) to write an email or post to your IG feed . 5️⃣ dont try to do it all alone: it's a crazy time and your feelings are valid. You don't have to navigate this by yourself. Ask for help, reach out... you know I always have your back❤️. . . Comment below: what are you up to this weekend?
A post shared by Kayla - LAUNCHING EXPERT (@kaylaybanez) on Mar 21, 2020 at 4:04pm PDT
It was in the Fall of 2018 when people started to ask me how I was doing certain things on Instagram. I didn't realize how good I had become at utilizing hashtags, posting easily digestible content and building up a loyal community around my daughter's journey to health.
I realized that the months I spent learning everything I could about using Instagram the way I had been, gave me skills that small businesses and online personal brands would pay for. For the longest time this was a way to make myself feel normal (because living in the hospital for over a year isn't normal) and now, people were ready to pay me. It was a surreal experience.
I started by offering one time consultations and the more demand increased, the more I realized that I had a very specific niche in mind. I wanted to help online business owners use Instagram to make genuine business connections without spamming or "cold messaging" them.
I made it my personal brand to "stop the 'hey girl' messaging movement," which is essentially the unfortunate standard of small business owners randomly messaging anyone they cross paths with online and asking them if they want to purchase their products.
Especially while we were in the hospital I would receive dozens of spam messages a day from people trying to sell me their products without even taking a moment to look at my page to see what my family has been going through let alone learn my name. That's where the "hey girl" comes from, because they couldn't even be bothered to look at the name on my page.
I called out these sleazy business tactics because I believe social media is meant for true relationship building and connection.
My message took off! My personal brand has become instantly recognizable because I am speaking out about things business owners feel but have been afraid to talk about because nobody else was talking about it — as a result, my business boomed!
I went from focusing on working with people 1:1 into working with more group coaching. This allowed me to scale my business to the point of making over $300,000 in revenue since I started in the fall of 2018, all from a system and strategy I created while in my daughter's hospital room.