A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
In a series of tweets, the president addressed an unusual controversy stemming from a speech delivered Thursday by New York Fed President John Williams.Marketsread more
"You need to understand that we're about to embark on the busiest week of the year for industrial earnings," CNBC's Jim Cramer says.Mad Money with Jim Cramerread more
Boston Federal Reserve President Eric Rosengren is lining up against an apparent push to cut interest rates, telling CNBC in an interview Friday that the central bank can...The Fedread more
The MTA reported that the 1, 2, 3, 4, 5 and 6 trains are all facing delays due to a network communications issue impacting service in both directions, NBC New York reports.Transportationread more
Companies aren't waiting for the U.S.-China trade war to be resolved, says the head of the world's biggest money manager.Investingread more
US officials including Treasury Secretary Steven Mnuchin and White House economic adviser Larry Kudlow will host a meeting at the White House on Monday of semiconductor and...Technologyread more
Trump's constant berating of the Fed and its actions does not influence the central bank's decisions, Boston Fed's Eric Rosengren says.The Fedread more
The lawsuits allege J&J's talc-based baby powder contained asbestos and caused ovarian and other cancers.Health and Scienceread more
Bezos announced in a tweet Wednesday that he and his wife of 25 years, MacKenzie, have "decided to divorce." His tweet suggested that it will be an amicable parting, saying "we remain a family and we remain cherished friends."
And it's possible that any settlement and support he gives MacKenzie is negligible in the context of his wealth, which at the latest tally was around $137 billion.
But Washington state, where the Bezoses live, is a community property state. That means that any wealth made during their marriage could be split equally between the two. Since Amazon was founded a year after the Bezoses were married, MacKenzie could argue that she is entitled to half of Bezos' entire Amazon-based fortune. That means she could get as much as $66 billion based on the value of the company today.
To fund a settlement that big, Bezos would have sell or pledge shares, which could dilute his ownership and control of the company. Bezos owns just under 80 million shares of Amazon, or just under 16 percent of the company, according to regulatory filings.
But divorce attorneys say that is highly likely MacKenzie would want the family fortune to continue to grow — and that is tied in large part to Jeff Bezos' control of the company. So she would be unlikely to push for a settlement that would require him to sell shares that would dilute his control — and any reduction of his stake in the company.
"The issue will be how to value the assets with diminished control," said Jeffrey Fisher, a divorce attorney in West Palm Beach, Florida, who has handled several billionaire divorces. "There would be an argument by the attorneys that the Amazon stake is not worth as much without Bezos in control, so that would affect any settlement."
The most expensive U.S. divorce so far is believed to be Steve and Elaine Wynn in 2010, which was estimated at $1 billion. Oil tycoon Harold Hamm famously wrote a check for $974.8 million in 2015 for his divorce.
Correction: Harold Hamm wrote a check in 2015 for his divorce. An earlier version misstated the year.