Connect with us

Money

MacKenzie Bezos to become World’s richest woman

Published

on

MacKenzie Bezos’s divorce from Amazon.com Inc. founder Jeff Bezos could make her the world’s richest woman. As of now, Francoise Bettencourt Meyers, the granddaughter of the founder of cosmetics manufacturer L’Oreal SA, is the richest woman in the world, with a net worth of $45.6 billion, according to the Bloomberg Billionaires Index.

The announcement by Amazon founder Jeff Bezos, the world’s wealthiest man, and his wife that they will divorce has captivated the imagination — how will they split his giant fortune, estimated at $136 billion?

And what will happen to the Internet retail giant — will his soon-to-be ex get a significant stake, and how would that affect his control of the company?

The former MacKenzie Tuttle knew the 54-year-old Bezos before fame and wealth came calling.

She was by his side for the entire Amazon adventure, from the company’s humble beginnings in his Seattle garage in 1994 to its mammoth success today. They have four children — three sons and an adopted daughter — aged up to their late teens.

As of Wednesday, when the couple formally announced they would divorce after a long separation, the 48-year-old MacKenzie, a novelist, is likely to become the richest woman in the world.

According to celebrity news outlet TMZ, the Bezoses did not have a prenuptial agreement —  which could mean an even split of assets.

They were married in Florida in September 1993, according to documents seen by AFP. But their last place of residence would be the deciding factor in any divorce proceedings.

The couple has numerous residences: in Seattle, where Amazon is based, but also in Washington DC, Texas and Beverly Hills, California.

Bezos, who was once Amazon’s primary stakeholder, now owns about 16 percent of the company — the bulk of his net worth.

At mid-day Thursday, that stake translated to about $130 billion.

Any divorce settlement would include his stock portfolio. If it were split in half, that would leave Bezos — who still runs the company — with an eight per cent stake.

So far, that prospect has not frayed Wall Street, with Amazon shares even up slightly on the Nasdaq on Wednesday after the announcement, only to fall back Thursday.

“Much of his influence in Amazon comes instead from his position within the company as its founder and CEO.”

For Kessler, “if they want to protect the company, they’ll find a way to give her an interest in the company that doesn’t affect the running of the company.”

Of course, the couple may have a post-nuptial deal that will be revealed in the coming months.

They may also end up in an acrimonious divorce, which would surely cloud the prospects of Amazon, both on Wall Street and from a public relations perspective.

Share Cheers!

Join us today, become a news contributor to The Liberty Times™ Put on your story-telling hat and send a story and Liberate your mind today! TOGETHER WE SPEAK, and THE WORLD LISTENS! Send your stories to email: admin@tlt.com.ng Use the hashtag #TLTNEWS247 | tweet to @TLTNEWS247 | fb messenger www.m.me/TLTNEWS247

Advertisement
Comments

National News

NLC reacts to N27,000 minimum wage approval

Published

on

The Nigeria Labour Congress has rejected the N27,000 new national minimum wage adopted by the National Council of States on Tuesday.

The NLC Secretary-General, Dr. Peter Ozo-Eson, made this known to the News Agency of Nigeria in Abuja.

According to him, the council has no jurisdiction determining another amount after a Tripartite Committee had submitted its report.

“It is abysmal of government to be delaying the submission of an Executive Bill to the National Assembly and by wrongfully adopting N27,000 through the council of states,” he said.

However, Ozo-Eson said the NLC has scheduled an emergency National Executive Council meeting for Friday to weigh on the deadline given to government within which to submit an executive bill to the National Assembly.

The NLC scribe added that the Federal Government was only projecting a shutdown of the economy with its latest action.

“This is because workers should not be held responsible for any development after its NEC meeting on Friday,’’ he said.

(NAN)

Share Cheers!
Continue Reading

Money

Ambode fails to present 2019 budget again

Published

on

The Lagos State House of Assembly yesterday rejected the request of the state governor, Mr Akinwunmi Ambode, to formally present the 2019 appropriation bill valued at N852.317 billion.

Lagos State Governor Akinwunmi-Ambode

Contrary to the position of the office of the Chief Press Secretary to the governor that the 2019 budget would be presented yesterday, the request was not listed as part of the agenda of the state House of Assembly for the day.

It was revealed that Ambode had since last week contacted the state assembly that he was ready to present the 2019 budget, though it was not clear if the assembly agreed to the governor’s request to present the budget yesterday.

Based on the invitation to journalists for the budget presentation, the state house correspondents trooped to the state assembly for the exercise.

However, the correspondents were denied access to the legislative chambers, the venue of the budget presentation.

Despite the high expectation that the budget would be presented yesterday, security operatives at the assembly denied the state house correspondents access to the legislative chamber after waiting for about 30 minutes or more for the presentation of the 2019 budget.

After about 30 minutes, a police officer, who introduced himself as officer-in-charge, asked the state house correspondents to leave the assembly complex, perhaps acting on the directive of the speaker, Hon. Mudashiru Obasa.

The police officer claimed that he received information from the speaker that the lawmakers would not take the governor’s budget presentation as earlier expected.

He said the speaker was having a private meeting with other lawmakers and would not want to be disturbed.

He said, “I know you are journalists and here for your job but the budget will not be presented today. The speaker and the lawmakers are having a private session and would not like to see people at the lobby”.

Ambode had been having a frosty relationship with the lawmakers after he fell out with the leadership of the All Progressives Congress (APC) in the state.

There were reports of an attempt to impeach Ambode, though the speaker denied it.

Share Cheers!
Continue Reading

Money

IMF lowers Nigeria’s growth progression

Published

on

The International Monetary Fund (IMF) has cut Nigeria’s Gross Domestic Product (GDP) projection for 2019 to two per cent, from the 2.3 per cent it had predicted for the country previously.

The fund stated this in its World Economic Outlook (WEO) update titled, “A Weakening Global Expansion,” released Monday.

It noted that emerging market and developing economies had been tested by difficult external conditions over the past few months amid trade tensions, rising US interest rates, dollar appreciation, capital outflows, and volatile oil prices

Share Cheers!
Continue Reading

Politics

Read: Why I visited America – Atiku

Published

on

Presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, has stated why he visited the United States of America.

The former vice-president arrived Washington on Thursday despite controversy over the belief that he was facing corruption charges in the US.

Atiku stated that he travelled to the US, because he has a mission to “create the right economic atmosphere for American investments to return to Nigeria”.

Full text below:

It has become pertinent for me to speak about my ongoing visit to the United States of America, where I have met and I am still meeting with the U.S. administration officials and business leaders.

I travelled to the United States of America because I have a mission, which is to create the right economic atmosphere for American investments to return to Nigeria at a rate and quantum that we had before the current Nigerian administration’s policies almost halted the flow of foreign direct investments to Nigeria.

I am in America because Atiku means jobs.

My reason for running for the office of president of Nigeria and even for going into public service in the first place, is because I believe that Nigeria has what it takes to be the beacon of hope for the black race and a leading nation of reckoning in the international community.

This has not materialised over the course of the last four years because, as Chinua Achebe prophetically said in his 1983 book, “the trouble with Nigeria is the failure of leadership.”

The current Nigerian administration has allowed our relationship with our long-standing friends and partners to deteriorate and this has had unfortunate consequences for our economy.

Foreign relations that had been meticulously and delicately built for decades were allowed to deteriorate because members of the incumbent administration mistook their personal interests as the interests of Nigeria and allowed short term goals to dominate their foreign policies.

New friendships should not be made at the cost of old friendships. It is not an either-or situation. Right from Independence, Nigeria has nurtured a policy of non-alignment. We borrowed from the Lincoln policy of malice toward none and charity for all. Sadly, that policy has suffered major setbacks in the last four years.

As a leader in business, I am cognisant of the fact that both Western and Oriental nations will be making the transition from fossil fuels to electric powered vehicles and other green energies over the course of the next two decades. This means that Nigeria’s oil has a limited shelf life.

To be forewarned is to be forearmed and we must, as a nation, begin to make the transition from an oil economy to a modern one based on manufacturing and value-added agricultural chain.

…my vision is for trade to go both ways. Nigeria has a lot to offer America via her creative industry (Nollywood is the world’s third largest movie industry) and rich mining sectors (Nigeria’s Kaduna State is rich in gold ore). I am also eager to find a market in the U.S. for some of the half a million shoes manufactured in Nigeria’s cities of Kano and Aba everyday.

The message I took to the United States business community is not a new message. In my opinion editorial in the British media (“Beyond Brexit – Nigeria wants a new trade deal with Britain”), I submitted that Brexit is an opportunity for Nigeria and the United Kingdom to have a Big Ambitious Free Trade Agreement.
It is only common sense.

In 2014, the African continent as a whole earned $2.4 billion from coffee grown in Africa and shipped mainly to Europe. That sounds impressive. However, one nation alone, Germany, made $3.8 billion from re-exporting Africa’s coffee in 2014.

As a businessman, I see this and I cannot allow it to continue. It is unconscionable, but situations like these will not stop unless Nigeria and Africa have leadership that thinks business, instead of aid, and capital instead of loans.

Nigeria has, perhaps, the highest populations of youth as a segment of the total population, in the world. Already, we have the unfortunate distinction of being the world headquarters of extreme poverty. We cannot afford business as usual. My single-minded focus is to change this dubious record by transforming Nigeria from a consumer nation to a prosumer nation (a nation that consumes what it produces).

For this to happen, we need U.S. firms who have divested from Nigeria, to return. We need Procter and Gamble to reopen its $300 million Nigerian plant, which it shut down last year. We need General Electric to reverse its $2.7 billion pull out of Nigeria.

And my vision is for trade to go both ways. Nigeria has a lot to offer America via her creative industry (Nollywood is the world’s third largest movie industry) and rich mining sectors (Nigeria’s Kaduna State is rich in gold ore). I am also eager to find a market in the U.S. for some of the half a million shoes manufactured in Nigeria’s cities of Kano and Aba everyday.

Someone somewhere said Nigeria’s youth are lazy. I am one of the single largest employers of Nigeria’s youth and I know that assertion is false. My travels in Europe and America is to sell the Nigeria that I know to the world that does not yet know her. A Nigeria with not just a hardworking youthful population, but a nation with some of the smartest working people on earth. A nation that is open for business and a Nigeria that is much more than oil.

And I am certain that if I am successful in selling this Nigeria to the world, the world will come to Nigeria for business. That is why I am in America. Because I believe in JOBS – Jobs, Opportunity, Being United and Security and it is time Nigeria and all Nigerians finally have the opportunity to realise their true potentials.

Share Cheers!
  • 2
    Shares
Continue Reading
Advertisement
Opinions expressed by our Contributors are their own. We have robust systems and procedures in place to check that all articles submitted and published are unique and exclusive to The Liberty Times™ Nigeria. If you need to flag any content as abusive, CLICK HERE to email us. LEARN MORE about becoming a News Contributor.

Advertisement
Advertisement

Upcoming Events

  1. The Nigerian Presidential and National Assembly elections: General Elections

    February 16
Advertisement INEC
Advertisement

@NORTHERN.FINEST

  • #Cute .

#kano #Nigeria #abuja #arewapeople #arewa #arewaweddings #arewabride #hausa #zazzau #sokoto #katsina #zamfara #kebbi #bauchi
#abujawedding #slayqueen
  • #Cute .

#kano #Nigeria #abuja #arewapeople #arewa #arewaweddings #arewabride #hausa #zazzau #sokoto #katsina #zamfara #kebbi #bauchi
#abujawedding #slayqueen
  • Be sure to reach your young & vibrant audience with a repost from my handle.. Don't miss this opportunity! We can also create very attractive graphic design for you ads. This offer is for limited time only!!! #kano #Nigeria #abuja #arewapeople #arewa #arewaweddings #arewabride #hausa #zazzau #sokoto #katsina #zamfara #kebbi #bauchi
#abujawedding #slayqueen #northernfinest
  • #kano #Nigeria #abuja #arewapeople #arewa #arewaweddings #arewabride #hausa #zazzau #sokoto #katsina #zamfara #kebbi #bauchi
#abujawedding #slayqueen

Follow Me!

Advertisement

Tags cloud

@TLTNEWS247