Delco re:View Spring 2019 - 9

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Delaware County Attorneys Go
Live on Good Day Philadelphia!
Patrick Daley, Esquire, and Kristen M. Rushing, Esquire,
both partners in the law firm of Sweeney & Neary, LLP,
Delaware County, had the privilege of speaking with CoHosts Mike Jerrick and Alex Holley, Fox29's Good Day
Philadelphia, about the divorce of Jeff Bezos, founder of
Amazon, Inc., and his wife Mackenzie Bezos. The couple
were married 25 years and have four children.

On January 10th, Patrick Daley, Esquire, weighed in on the
Bezos' divorce, the most expensive we have seen, following
the Bezos' announcement of their divorce and continue their
"shared lives as friends."
Watch the clip at
https://www.fox29.com/good-day/382816220-video.

Kristen M. Rushing, Esquire, gave her perspective live on
set at FOX29, April 5, 2019, the day following the divorce
settlement announcement.

The Great Divide ...
Amazon founder Jeff Bezos and his ex-wife, MacKenzie
Bezos, announced a divorce settlement Thursday, April 4th, that
will leave him with 75 percent of their Amazon stock and voting
power over all of the Amazon voting shares the couple own
together.
The announcement from the Bezoses - coming in a tweet
from MacKenzie that was retweeted by Jeff - settled a closely
watched matter of corporate governance affecting one of the

world's richest companies, with a market capitalization of $890
billion, and the world's wealthiest person.
The record divorce settlement, which also awards Jeff
Bezos all of the couple's joint holdings in The Washington Post
(purchased for $250 million in 2013) and a space flight company,
Blue Origin (founded in 2000 by Bezos, a Star Trek devotee), is
likely to remove uncertainty around the extent of his continued
control over Amazon - a company he founded in 1994 and for
which he remains chief executive and its largest shareholder. He
will have sole voting power over the shares the two once jointly
controlled, which together amount to 16 percent of Amazon's
total shares. MacKenzie Bezos, 48, will be awarded about 4
percent of the company, a stake worth roughly $36 billion based
on Amazon's market value Thursday. She becomes one of
the wealthiest women in the world, after such heiresses as the
women who own giant stakes in L'Oreal and Walmart.
Jeff Bezos, 55, will retain the remaining 12 percent. He is
worth at least $107 billion, based on his Amazon holdings alone.
Forbes estimated his worth this year at $131 billion, before
the divorce settlement. The world's second-richest person was
Microsoft co-founder Bill Gates, a neighbor of the Bezoses, with
about $96.5 billion, according to Forbes.
It was not immediately clear how the couple may divvy
up their various holdings in companies such as Airbnb and
Uber. His Bezos Expeditions venture firm has invested in tech
firms, including trucking start-up Convoy and human resources
software firm Workday, as well as Business Insider. He has also
financed a multi-million dollar project to build a clock that could
run for 10,000 years, located on a Texas ranch the former couple
owns.
Also undisclosed is how the couple may divide their real
estate holdings which include mansions in Bellevue, Wash., and
Beverly Hills; the largest private home in Washington, D.C.; the
Texas ranch; and multiple condos in New York City; worth tens
of millions of dollars in aggregate.
The deal announced on Twitter left key details unanswered,
including whether there was a prenuptial agreement or other
factor that kept MacKenzie Bezos from getting half of all
assets. Divorce law in Washington - the couple lives in a
Seattle suburb - treats property accumulated during a marriage
as shared equally between the two spouses, unless there are
prenuptial or postnuptial agreements that make different
arrangements contractually.
The couple did not disclose custody terms of their children.
The divorce should be settled in roughly 90 days, according
to an Amazon regulatory filing. *

Spring 2019

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Delco re:View Spring 2019

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