THE LEX COLUMN: Success makes Jeff Bezos a bigger target
President Donald Trump’s need to mock Amazon CEO over his divorce, underlines the power in the hands of a few bosses
Few tycoons have done better than Jeff Bezos since Donald Trump took office. On paper, the Amazon boss’s wealth has increased by more than $60bn. Yet no CEO infuriates the president more. One presidential tweet, mocking his divorce, described Bezos as “Jeff Bozo”. The spat has become even uglier, with Bezos accusing a Trump ally of blackmail. The imbroglio could end up damaging Amazon’s business. Shareholders hate it when a CEO’s personal life is a bigger story than the company. Bezos’s marital break-up and his battle with National Enquirer owner AMI over an alleged threat to publish intimate photos and texts, is an embarrassing distraction. The Amazon share is down 5%, but the Bezoses may have already put much of their wealth in trust for descendants. There is little chance that half their 16% stake — worth $62bn — will be dumped. Unlike Tesla, Amazon does not depend on a showman CEO for investor support. Nor is there evidence that Trump’s animosity has damaged Amazon. Bezos acknow...