Jeff Bezos announced on Thursday that he will give a 4% stake in Amazon—currently worth more than $35 billion—to his wife, MacKenzie, as part of their pending divorce, making it by far the largest divorce settlement in history. In January, soon after the couple announced their separation, Forbes assembled a list of the largest, strangest and most notable billionaire disunions on record—at least where we could follow the money. In some cases, like the split between Google’s Sergey Brin and Anne Wojcicki, we don’t know the size of the settlement because divorce filings were sealed.
Below are five of the largest settlements, in descending order.
1) Jeff and MacKenzie Bezos – At least $35 billion.
The couple met while both were working at hedge fund D.E. Shaw in New York. After they moved to Seattle, MacKenzie helped Jeff get Amazon off the ground. On April 4, they announced the terms of their divorce, which will likely become official over the summer: she will receive about 4% of Amazon’s outstanding shares—now worth over $35 billion. Jeff will hold on to all of rocket company Blue Origin and The Washington Post. Once the divorce is finalized, MacKenzie will likely be the world’s third-richest woman.
2) Bill and Sue Gross – $1.3 billion
The Grosses’ messy split minted a new billionaire and dragged down another. Sue filed for divorce in 2016 from her husband, the founder of asset-manager Pimco, and she walked away a year later with a $1.3 billion fortune. That haul included a $36 million Laguna Beach house and “Le Repos,” a contested 1932 Picasso painting that she later sold for $35 million. While Bill originally tried to hang on to one of their three pet cats, Sue eventually got custody of all of them. Bill lost his spot on The Forbes 400 in 2018 following 14 consecutive years on the list. Both now run their own charitable vehicles.
3) Steve and Elaine Wynn – $850 million
The cofounders of casino giant Wynn Resorts divorced (for the second time) in 2010. That settlement dictated that Elaine, a Wynn Resorts board member since 2002, receive 11 million shares, then worth an estimated $795 million. Steve also sold around $114 million in stock that year—some, if not all, went to Elaine as part of the deal. She then sued Wynn Resorts in 2012 to sell part of her 9% stake and was kicked off the board three years later amid an ugly proxy battle.
After Steve stepped down as CEO and chairman in February 2018 amid sexual harassment allegations that he has denied, he sold all his shares. Elaine, now worth $2 billion, is Wynn Resorts’ largest shareholder.
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4) Harold Hamm and Sue Ann Arnall – $975 million
After three years of bitter court proceedings, oil tycoon Harold in 2015 tried to finally end his 26-year marriage with Sue Ann (no prenup) by writing her a check in the amount of $974,790,317.77 from his Morgan Stanley account. She deposited it, but then changed her mind, decided she wanted more and filed an appeal seeking a bigger share of the $13.7 billion fortune tied to Hamm’s 75% ownership in publicly traded Continental Resources. In April 2015 the Oklahoma Supreme Court ended the saga, granting Harold’s motion to dismiss her appeal, reasoning from precedent that Sue Ann had agreed to the settlement by signing and depositing the check. Sue Ann subsequently funded a political action committee that succeeded in its effort to unseat the judge who presided over the divorce.
5) Roy E. and Patricia Disney – $600 million
Roy and his wife filed for divorce in 2007 at the ages of 77 and 72, respectively, after 52 years of marriage. Roy, a nephew of Walt Disney, was worth approximately $1.3 billion at the time. Previously a Forbes 400 mainstay, he lost nearly half of his fortune in the split and was dropped from the list. In 2008, he married writer and producer Leslie DeMeuse. He died a year later; Patricia followed in 2012. A family foundation with assets of $122 million (as of 2016) bearing both of their names supports environmental and economic causes.
–Compiled by Madeline Berg, Deniz Cam, Kathleen Chaykowski, Lauren Debter, Kerry A. Dolan, Alex Fang, Luisa Kroll, Chloe Sorvino and Jennifer Wang.
– Noah Kirsch; Forbes Staff
Making Up For Millions
While a growing number of influencers are dictating what brands sell, beauty entrepreneur Jackie Aina is of the view they have the duty to use their platforms responsibly.
Mixing up the inspirational with informative, the thought-provoking with tongue-in-cheek, and sarcasm with calling out brands for not being inclusive, Jackie Aina is influencing the beauty industry one product at a time.
With over three million YouTube followers and 1.2 million on Instagram, Aina is one of the stand-out digital influencers cashing in on online followings to broadcast messages to millennials, lifestyle brands and billion-dollar cosmetic conglomerates.
Although Aina does all of this with a dose of humor, the journey to YouTube stardom started some 10 years ago for the 31-year-old beauty entrepreneur, when she was desperately searching for a way to escape loneliness and unfulfillment.
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“I had gone on to marry the guy who inspired me to join the military. We were stationed in Hawaii and we were very unhappily married. I didn’t have a job and YouTube was buzzing in 2009. We had a lot of Asian faces who were really the faces of beauty on YouTube and I didn’t really see anyone like me. So, my best friend, literally every day, said ‘why don’t you put your makeup looks on YouTube’ and I always said no.”
Her friend’s unrelenting pursuit finally paid off.
“So, one day, I decided I wasn’t doing anything, and being bored and not being fulfilled emotionally and I didn’t have a lot of positive things going on for me at the time, so that left me a lot of time to consume content and then I started creating it.
“I truly tapped into something that I needed at the time mentally and that was great. People didn’t know me but they would just gas me up; they were so nice and would always give me positive encouragement which I really needed at the time,” Aina says.
That was a lifetime ago. These days, the Los Angeles-born influencer, who was called ‘beauty influencer of the year’ by Women’s Wear Daily last year, is short-listed among the top beauty influencers in the United States, with lucrative brand collaborations behind her.
Most notably is her collaboration with the Estée Lauder-owned brand, Too Faced, as part of the Born This Way foundation range, which she helped to create.
Celebrities and influencers are increasingly being paid several thousands of dollars per tweet or Instagram post to promote products, services and even social causes.
With most millennials avoiding posts that look like sponsored ads, brands are now increasingly interested in ads that appear organic. And that is where influencers come in.
Remuneration for such posts is usually decided after considering factors like number of followers, popularity, engagement, frequency of posts, as well as the format of the post.
Furthermore, influencer accounts with massive follower counts can leverage their social media clout to showcase brands to their followers and perhaps, most importantly, use their brand voice to fight against injustice in the industry, something Aina is passionate about.
“A lot of years on YouTube were spent seeing comments from people who say things. It is easy to sit and complain but what are you doing to change the industry?”
In response, Aina decided to use her platform to fight for the change she wanted to see in the industry. She holds other influencers accountable for offensive remarks and joins controversial and tough discussions about issues like colorism in the beauty industry. And brands are starting to listen.
It was her outspoken voice in the beauty space that caught the attention of the beauty conglomerate, Too Faced, which short-listed Aina to help expand its foundation range and ensure the makeup undertones would also compliment women of color.
“That was a testament to brands actually listening. Just because you think someone is not watching, doesn’t mean they are not watching. They are definitely watching. Sometimes all you really need is that one opportunity and that can be leveraged over and over again,” Aina says.
As brands increasingly turn away from traditional marketing, towards social influencers, young, connected digital natives like Aina, will continue to play an important role in the success of beauty brands for the foreseeable trend-obsessed digital future.
Luxury Goods Titan Bernard Arnault Becomes World’s Third $100 Billion Man
One of the world’s ultimate taste-makers, Bernard Arnault entered an ultra-rarefied club this week. As of Thursday June 20, he was worth just over $100 billion, making him one of three people in the world with 12-figure fortunes.
He joins Amazon’s founder Jeff Bezos, worth an estimated $157.5 billion, and Microsoft cofounder Bill Gates, worth an estimated $103.1 billion. Bezos, who first passed $100 billion in 2017, will soon give a slice of that fortune away.
He and his wife, MacKenzie, are in the process of finalizing their divorce. The couple announced in early April that she will receive a quarter of his Amazon stake, currently valued at more than $37 billion. Gates reached $100 billion in April, thanks to strong earnings from Microsoft.
Arnault’s luxury goods group, LVMH Moët Hennessy–Louis Vuitton, has been having a great year. In April, it announced record first quarter sales and profits on top of a strong 2018. Its shares are up more than 40% so far in 2019, boosting Arnault’s fortune by more than $20 billion.With his family, he owns 46% of LVMH and serves as both its chairman and CEO.
The growth comes as high-end buyers around the world continue to pick up luxury goods and spirits, despite fears that demand, particularly in China, would slow down. Thirty-five years after Arnault first got into luxury goods with the purchase of Christian Dior, he continues to refresh LVMH by finding ways to appeal to a new generation of customers while retaining the traditional values and high quality that have defined its brands.
That includes innovative partnerships like the two with Rihanna — Fenty Beauty and Fenty fashion house — as well as recent deals such as the acquisition of Belmond, which operates luxury hotels, trains and even safaris.
“People do not understand that success stems from the cohabitation of two contradictory spirits: the artist’s vision and the logic of worldwide marketing,” Arnault told Forbes in 1997. “It’s a very complex process.”
Forbes first wrote about Arnault in 1991 when he was worth $200 million. He has since been featured several times and has appeared on our cover. He made his debut in our Billionaires ranks in 1997. Some readers may know his story well but it’s one worth retelling.
A native of France’s cold, flat industrial north, Arnault was a star student at France’s prestigious Ecole Polytechnique. The son of a construction tycoon, Arnault spent three years in the U.S. in the early 1980s trying to establish a branch of his family’s real estate business, Ferinel, as a developer of Florida vacation properties.
After three years he returned home. But he learned a valued lesson in America, according to a 1997 Forbes profile on Arnault. Before leaving, he sold his Mediterranean-style home facing Long Island Sound in New Rochelle, N.Y. to American tycoon John Kluge, owner of the mansion next door. Kluge tore it down because it blocked his view.
“It was just incredible!” Arnault told Forbes. “It was a very nice place, but two days after he bought it, he tore my house down! It’s so very…American.” Lesson learned: “When something has to be done,” says Arnault, “do it! In France we are full of good ideas, but we rarely put them into practice.”
He returned back to France ready to make some moves. In 1984, Arnault put up $15 million of his family’s money to rescue bankrupt textile empire Boussac (Lazard put up the rest). Among Boussac’s mixed bag assets was money-losing fashion house Christian Dior.
That became the first of many Arnault acquisitions and the cornerstone of his massive luxury goods empire. Over the years, LVMH snapped up such brands such as Louis Vuitton, Givenchy and Sephora. Today LVMH has nearly $53 billion in sales from 70 brands and 4,590 retail stores.
-Luisa Kroll; Forbes Staff
The World’s Highest-Paid Soccer Players 2019: Messi, Ronaldo And Neymar Dominate The Sporting World
This past season marked the end of an era in soccer, or football to those outside of the United States whose eyes were about to bleed.
For the first time in a decade, not a single matchup took place between the two greatest players in the world, Lionel Messi and Cristiano Ronaldo. Their epic 30-match run of El Clásico clashes, the name for the fixtures between Barcelona and Real Madrid, bitter rivals and the world’s most valuable soccer clubs, came to an end last summer when Ronaldo left Spain’s La Liga to join Juventus in Italy’s Serie A.
Also for the first time in over a decade, neither Messi nor Ronaldo won FIFA’s coveted Player of the Year Award, voted on by the international media, national team coaches and national team captains. Luka Modric, Ronaldo’s former Real Madrid teammate and captain of the Croatian national team, took that trophy home.
But as sad as the loss of this rivalry was for fans—including Messi, who admitted to missing competing against Ronaldo—it seemingly had little effect on either superstar’s performance or purse.
For the second year in a row, Messi takes the top spot among the World’s Highest-Paid Soccer Players, with earnings of $127 million. Thanks to the contract extension he signed in November 2017 that commits him to Camp Nou through June 2021, he hauled in $92 million in salary and bonuses before taxes, a 9.5% bump over what he made on the pitch last year.
Part of that increase came by way of performance-incentive pay. The 32-year-old striker topped La Liga’s charts for both goals (36) and assists, marking his fifth season of 35 or more goals. It was also his sixth season in which he scored 50 or more goals across all club competitions.
He shone brightly in the club’s run-up to quarterfinals of the UEFA Champions League, with the Argentine the top goal scorer of that competition, hitting the back of the net 12 times in 10 appearances.
To an already-rich list of sponsors off the pitch, including lifetime partner Adidas, Mastercard and PepsiCo soft drink and snack brands, Messi added high-end watchmaker Jacob & Co. to his portfolio this year. His first signature timepiece is a limited edition of 180 starting at $28,000.
More recently, he partnered with MGO—a brand portfolio company whose chief creative officer is Tommy Hilfiger’s sister, Ginny Hilfiger—to create a signature line of clothing. It is expected to launch in July on the Messi Store, a global e-commerce site.
Ronaldo earned $109 million to come in at No. 2 among the sport’s top earners. It is a negligible increase over his tally last year, a result of taking what amounted to a pay cut to join Juventus after nine years with Real Madrid. His current four-year playing contract pays him a gross annual salary of $64 million and contains no bonus or incentives, per sources close to the deal. But hold back your tears for him.
After nine years with La Liga’s Real Madrid, Cristiano Ronaldo surprised the world on July 16, 2018, with news of his move to Juventus in Italy’s Serie A. (Photo credit: Miguel Medina/AFP/Getty Images) GETTY
Under the Italian tax code, Italian-sourced income, like the salary Ronaldo earns playing for Juve, is taxed at an ordinary top rate of 43%. Outside earnings are treated differently, though, and are subject only to a single, flat tax of about $115,000.
This structure bodes well for Ronaldo, a walking billboard who pitches products head to toe and earned $44 million last year doing so, almost entirely outside of Italy. It also softens the blow he was dealt this past January when he pleaded guilty to tax fraud in Spain for concealing income from commercial image rights earned between 2010 and 2014 and was ordered to pay a $21.6 million fine.
The 34-year-old Portuguese winger is making out well on the pitch, too. He scored 21 goals to lead Juventus to its eighth straight Serie A title and in the process became the first player to win league titles in Italy, Spain and England.
By Forbes’ estimates, assuming he keeps his playing contract and current sponsors and partners (amid an open sexual assault case filed against him in U.S. federal court), Ronaldo is on pace to become the third active athlete to crack the $1 billion mark in career earnings this upcoming season.
Golfer Tiger Woods was the first to do so in 2009, followed by Floyd Mayweather in 2017. (Michael Jordan joined the billionaire athlete club in retirement largely because of his deal with Nike and is now worth $1.9 billion because of his ownership of the Charlotte Hornets.)
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Paris Saint-Germain’s Neymar Jr. made $105 million last year to round out the top three highest-earning soccer players. His transfer from Barcelona to the French capital stands as the most expensive in the world at $263 million, and his five-year, $350 million total in salary and bonuses will keep him near the top of this list through June 2022.
Neymar partnered with Diesel to launch a signature fragrance in May 2019. (photo credit: Julien Hekimian/Getty Images for Diesel) GETTY
If a report by state-owned public television station France 2 is to be believed and his contract contains a behavior clause bonus, the 27-year-old Brazilian striker may not see all of that money. In the past three months, he’s made international headlines for all the wrong reasons.
In April, UEFA handed him a three-match suspension for insulting match officials on Instagram after Paris Saint-Germain lost to Manchester United in the Champions League. He will miss half of the group-stage competition next season. The same week, he was caught on video getting into an altercation with a fan in the stands after PSG’s loss in the French Cup and was subsequently handed a three-game suspension by his own club.
Following that, his national team stripped him of his captaincy for this summer’s Copa America tournament. Then, in early June, a woman filed a rape claim against him in Brazilian court, stemming from an encounter she had with the soccer star in Paris in May. (Neymar has denied the allegations.)
This week, PSG’s chairman publicly warned Neymar through an interview with France Football that he only wants players “willing to give everything for the shirt” and that “players will have to be more responsible than before.”
Since Forbes began tracking athletes three decades ago, this is the first time the top three highest earners in soccer also sit on top of the list of The World’s Highest-Paid Athletes.
One reason is that they are the three most popular athletes in the world on social media and produce high-quality, commercially driven posts for their sponsors that garner them big bucks.
Ronaldo is the most popular and engaging among them. His 370 million followers across Facebook, Instagram and Twitter transcend sports and make him one of the most followed people in the world. For perspective, he gained 48 million new followers in the past year, an amount that exceeds the total follower count of Manchester United and the French World Cup champion Paul Pogba (ranked No. 4 among the World’s Highest-Paid Soccer Players, with total earnings of $33 million).
During his last season with Real Madrid, Ronaldo generated $474 million in value for his sponsors on social media—an amazing return on their $47 million investment in him—and another $274 million for then-club sponsor Adidas.
This past season also ushered in the dawn of a new era. While his social media following has a long way to go to reach the stratosphere of the three highest-paid, PSG forward Kylian Mbappé (No. 7, $30.6 million in earnings) is generating both the quantity and the quality of buzz that position him to join their ranks, and even jump them.
The 20-year-old newcomer, the youngest on our list, had his global introduction at last year’s World Cup, scoring four goals in seven matches to help lead his French side to a championship victory. At 19, he was the second-youngest player to score a goal in the tournament, behind Brazilian soccer legend Pelé.
After winning the 2018 World Cup’s Best Young Player Award, Mbappé returned to his club and won Ligue 1’s 2019 Player of the Year Award as its 2018-19 top goal scorer. In between, he picked up endorsements with Hublot, which made him its first active player ambassador, and French baby food maker Good Gout. He hobnobbed with David Beckham. He graced the cover of Time. And he donated the $500,000 World Cup bonus he earned to a French hospital that organizes sporting events for disabled children.
His largest sponsor, Nike, also a French national team sponsor, is already thinking ahead to the 2026 World Cup, which will be cohosted by the United States. Mbappé will be just 27 then, and may very well be the only one on our current list still playing for his national team. The time to start exposing him to the market is now.
Nike invited Mbappé out to its headquarters and escorted him on a mini-West Coast tour last week, complete with meetings with sporting legends LeBron James, Steve Nash and Brandi Chastain, and arranged for his Hollywood debut—throwing out the ceremonial first pitch at Dodger Stadium.
“We see Kylian as a global superstar, and certainly the U.S. is a key component of the global marketplace,” said Heidi Burgett, senior director of global communications at Nike. “We certainly think Kylian has a very bright future with his joyful and fast brand of football, as well as his strong sense of purpose on and off the pitch.”
Modric, the reigning FIFA player of the year, missed our list this year. But the Croatian national team captain agreed to a new contract with Real Madrid in February that ties him to the Bernabeu until June 2021 and could land him a spot here next year. His salary reportedly matches that of his teammate Sergio Ramos, who ranks No. 19 on our list with total earnings of $21.9 million, of which $19.9 is in salary and bonus.
Nike is Modric’s largest sponsor. In 2018, he admitted in Spanish court to tax evasion and agreed to pay a fine in excess of $1.3 million. He used the same lawyer as former teammate Ronaldo.
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