Could Jeff Bezos' Divorce Impact Amazon Shares? - TheStreet Tech Thestreet.com - Sat 12 Jan 02:45 GMT
Could a split between Amazon CEO Jeff Bezos and wife MacKenzie affect shares of the world's most valuable company? Wynn Resorts is one example of what can happen when a messy divorce collides with corporate ownership....WYNN
Ms. Wynn was granted 11,076,709 shares of Wynn stock in the divorce settlement, equivalent to half of the shares the couple owned jointly while married and worth about $740 million at the time.
The settlement sharply reduced Mr. Wynn's individual ownership stake in the company, to approximately 8.03% of shares.
The Wynns were also restricted in selling their respective stakes, with Ms. Wynn prohibited from selling shares without her ex-husband's permission.
Although the divorce and subsequent legal battles were just one of many factors influencing investor views of Wynn at the time, it's worth noting that Wynn shares more than tripled in value from 2010 through early 2014, before declining sharply and bottoming out at about $57 in early 2016.
Mr. Wynn cashed out his shares in Wynn Resorts in May 2018, and Ms. Wynn still owns 8.77% of Wynn shares, according to FactSet.