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."
3 Min Read
With a lack of certainty surrounding the future, being and feeling healthy may help bring the security that you need during these unpredictable times.
When it comes to your health, there is a direct relationship between nutrition and physical activity that play an enormous part in physical, mental, and social well-being. As COVID-19 continues to impact almost every aspect of our lives, the uncertainty of the future may seem looming. Sometimes improvisation is necessary, and understanding how to stay healthy and fit can significantly help you manage your well-being during these times.
Tip 1: Communicate with your current wellness providers and set a plan
Gyms, group fitness studios, trainers, and professionals can help you to lay out a plan that will either keep you on track through all of the changes and restrictions or help you to get back on the ball so that all of your health objectives are met.
Most facilities and providers are setting plans to provide for their clients and customers to accommodate the unpredictable future. The key to remaining consistent is to have solid plans in place. This means setting a plan A, plan B, and perhaps even a plan C. An enormous amount is on the table for this coming fall and winter; if your gym closes again, what is your plan? If outdoor exercising is not an option due to the weather, what is your plan? Leaving things to chance will significantly increase your chances of falling off of your regimen and will make consistency a big problem.
The key to remaining consistent is to have solid plans in place. This means setting a plan A, plan B, and perhaps even a plan C.
Tip 2: Stay active for both mental and physical health benefits
The rise of stress and anxiety as a result of the uncertainty around COVID-19 has affected everyone in some way. Staying active by exercising helps alleviate stress by releasing chemicals like serotonin and endorphins in your brain. In turn, these released chemicals can help improve your mood and even reduce risk of depression and cognitive decline. Additionally, physical activity can help boost your immune system and provide long term health benefits.
With the new work-from-home norm, it can be easy to bypass how much time you are spending sedentary. Be aware of your sitting time and balance it with activity. Struggling to find ways to stay active? Start simple with activities like going for a walk outside, doing a few reps in exchange for extra Netflix time, or even setting an alarm to move during your workday.
Tip 3: Start slow and strong
If you, like many others during the pandemic shift, have taken some time off of your normal fitness routine, don't push yourself to dive in head first, as this may lead to burnout, injury, and soreness. Plan to start at 50 percent of the volume and intensity of prior workouts when you return to the gym. Inactivity eats away at muscle mass, so rather than focusing on cardio, head to the weights or resistance bands and work on rebuilding your strength.
Be aware of your sitting time and balance it with activity.
Tip 4: If your gym is open, prepare to sanitize
In a study published earlier this year, researchers found drug-resistant bacteria, the flu virus, and other pathogens on about 25 percent of the surfaces they tested in multiple athletic training facilities. Even with heightened gym cleaning procedures in place for many facilities, if you are returning to the gym, ensuring that you disinfect any surfaces before and after using them is key.
When spraying disinfectant, wait a few minutes to kill the germs before wiping down the equipment. Also, don't forget to wash your hands frequently. In an enclosed space where many people are breathing heavier than usual, this can allow for a possible increase in virus droplets, so make sure to wear a mask and practice social distancing. Staying in the know and preparing for new gym policies will make it easy to return to these types of facilities as protocols and mutual respect can be agreed upon.
Tip 5: Have a good routine that extends outside of just your fitness
From work to working out, many routines have faltered during the COVID pandemic. If getting back into the routine seems daunting, investing in a new exercise machine, trainer, or small gadget can help to motivate you. Whether it's a larger investment such as a Peloton, a smaller device such as a Fitbit, or simply a great trainer, something new and fresh is always a great stimulus and motivator.
Make sure that when you do wake up well-rested, you are getting out of your pajamas and starting your day with a morning routine.
Just because you are working from home with a computer available 24/7 doesn't mean you have to sacrifice your entire day to work. Setting work hours, just as you would in the office, can help you to stay focused and productive.
A good night's sleep is also integral to obtaining and maintaining a healthy and effective routine. Adults need seven or more hours of sleep per night for their best health and wellbeing, so prioritizing your sleep schedule can drastically improve your day and is an important factor to staying healthy. Make sure that when you do wake up well-rested, you are getting out of your pajamas and starting your day with a morning routine. This can help the rest of your day feel normal while the uncertainty of working from home continues.
Tip 6: Focus on food and nutrition
In addition to having a well-rounded daily routine, eating at scheduled times throughout the day can help decrease poor food choices and unhealthy cravings. Understanding the nutrients that your body needs to stay healthy can help you stay more alert, but they do vary from person to person. If you are unsure of your suggested nutritional intake, check out a nutrition calculator.
If you are someone that prefers smaller meals and more snacks throughout the day, make sure you have plenty of healthy options, like fruits, vegetables and lean proteins available (an apple a day keeps the hospital away). While you may spend most of your time from home, meal prepping and planning can make your day flow easier without having to take a break to make an entire meal in the middle of your work day. Most importantly, stay hydrated by drinking plenty of water.
Tip 7: Don't forget about your mental health
While focusing on daily habits and routines to improve your physical health is important, it is also a great time to turn inward and check in with yourself. Perhaps your anxiety has increased and it's impacting your work or day-to-day life. Determining the cause and taking proactive steps toward mitigating these occurrences are important.
For example, with the increase in handwashing, this can also be a great time to practice mini meditation sessions by focusing on taking deep breaths. This can reduce anxiety and even lower your blood pressure. Keeping a journal and writing out your daily thoughts or worries can also help manage stress during unpredictable times, too.
While the future of COVI9-19 and our lives may be unpredictable, you can manage your personal uncertainties by focusing on improving the lifestyle factors you can control—from staying active to having a routine and focusing on your mental health—to make sure that you emerge from this pandemic as your same old self or maybe even better.