When a wealthy couple decides to divorce it can capture the attention of the entire nation. People in Connecticut may have been closely following the high-asset divorce of Amazon CEO Jeff Bezos. According to reports, his divorce has been finalized, but neither party is walking away from the proceedings impoverished.
In fact, the exact opposite is the case. In the divorce, MacKenzie Bezos is to receive $38.3 billion in stock of the world’s largest online marketplace, Amazon. Jeff Bezos will retain $114.8 billion in Amazon stock, and MacKenzie Bezos has stated that she has allowed Jeff Bezos to have voting control of her shares in the company. Surprisingly, despite the divorce, Jeff Bezos is still the wealthiest person in the world.
When it comes to property division, Washington — the state where the Jeff and McKenzie Bezos divorced — is a “community property” state, meaning that all community will be divided in manner that is relatively equal. However, Connecticut is an “equitable distribution” state when it comes to property division. This means that the couple’s marital assets will be divided in a manner that is fair, even if it does not lead to an even 50/50 split. However, as the Bezos’ divorce shows, couples in either situation are free to negotiate their own property division settlement in a manner that they feel is fair and appropriate.
It may seem like a high-asset divorces must be a contentious affair, seeing as so much money is at stake. However, the Bezos’ divorce serves as an example that a wealthy couple can work together to divorce on amicable terms and reach a settlement that is acceptable to both. This is an important lesson that a person can learn from their divorce, no matter what their wealth is.