Guest Post: The Most Expensive Divorces Ever

Everyone knows that divorce can be an expensive process, but some of the sums involved in the world’s most expensive divorces are truly eye-watering.

Expensive divorces have been in the news recently with the Russian oligarch Dmitry Rybolovlev being forced to pay his former wife $4.5 billion in what has been called the “most expensive divorce in history”.

The order came from a Swiss court, with Elena Rybolovlev’s divorce solicitors branding it a “complete victory”. Her former husband is now set to lose half of his wealth.

Dmitry Rybolovlev’s spokesperson Serget Chernitsyn argued that the divorce was a “win” for him, although his lawyers are said to be launching an appeal. Query why Mr. Rybolovlev would appeal if he won his case? Pure bafflegab!

The couple was married for 23 years and it took six years for the case to be completed. Rybovelev made his money from the potassium fertilizer industry and is the owner of the Monaco Football Club. He is also famous for buying the Palm Beach Maison de L’Amitie from Donald Trump for chump change, around $95 billion!

THE DIVORCE OF MURDOCH AND DENG

Controversial media tycoon Rupert Murdoch’s 2013 divorce from Wendi Deng cost him a reported $1.8 billion even though he had a pre-nuptial agreement. This gives you an idea that prenps may not be everything they are cracked up to be, particularly if a couple’s circumstances change and children enter the picture.

They were married for 14 years and it is likely the payout to Ms. Deng was so high due to the needs of their daughters’, among other reasons. Deng, who is almost 40 years his junior, hit the headlines when she slapped a protestor who threw a pie at her husband during the phone-hacking enquiry in 2011.

Murdoch married Deng just two-and-a-half weeks after his previous marriage was finalised in 1999 with the help of divorce lawyers. He also paid a bundle to his first wife!

THE WILDENSTEIN’S DIVORCE

The 1997 divorce of Alec and Jocelyn Wildenstein cost an estimated $2.5 billion. Alec was from a family of famous art dealers and their divorce was seen as a huge scandal. Things turned sour when Ms. Wildenstein caught her husband in bed with a young Russian model.

Alec then, wielding a gun, threatened his wife and for his trouble spent a sleepless night in the local jail. Judge Marilyn Diamond, who presided over the divorce proceedings received a number of death threats.

Judge Diamond told Jocelyn that she could not use the alimony payments for cosmetic surgery, as by this time Ms. Wildenstein’s multiple surgeries led to her nickname “The Cat Woman”.

The Court gave her $2.5 billion and $100 million every year for 13 years after. Alec Wildenstein died in 2008 leaving his young Russian widow.

ECCLESTONE PAID BY FORMER WIFE

Formula One tycoon Bernie Ecclestone raised eyebrows when it was made public that he was being paid by his ex-wife following his 2009 divorce.

Documents recently released showed that Ecclestone was receiving $100 million dollars each year from his former wife Slavica’s trust fund. Information about how long the payments would continue have not been made public.

It’s said that this divorce was worth $1.2 billion, placing it high in the top ten divorces in history. Ecclestone is one of the sporting world’s most controversial figures and famously paid a significant sum to escape bribery charges in spring 2014.

It seems the richer you are, the harder you will fight to retain your wealth. Quite amazing to realize that these couples could not in a lifetime spend all the money they have.

“Money often costs too much.” –Ralph Waldo Emerson

This post was GUEST AUTHORED by RIX AND KAY, Family law solicitors from Sussex, Brighton, East Sussex and Kent in the UNITED KINGDOM, an experienced team of barristers and solicitors.

World’s Biggest Divorce Payouts- Part 1

Every once in a while a new client will make an appointment with the sole purpose of determining whether he/she can afford to get divorced or whether the financial consequences will be so devastating that he/she is better to stick it out.

The fact is that divorce often means relinquishing half of your property and paying generous, perhaps lifetime, spousal support. For a middle class Canadian it can be a significant financial setback.

However, it is no less crushing for spouses with great wealth. Consider the expenses of maintaining multiple homes in various locations around the world; travel expenses including the upkeep of executive jets or helicopters; lavish vacations; hundreds of thousands of dollars for the most exclusive private schools for their children and shopping sprees at Hermes, Vuitton and Cartier’s.

Do you think it was easy for the following group of millionaires/billionaires to write settlement cheques to their wives?

1. RUPERT MURDOCH, media tycoon, paid $1.7 billion in 1998 to his wife ANNA MURDOCH MANN, to whom he was married for 31 years. In 2010 Ms. Mann finally broke her silence about the divorce giving her first interview to an Australian magazine. She referred to her ex as “ruthless” and predicted an ugly succession battle when Mr. Murdoch gives up the reins to his media conglomerate or dies. She said that she hoped her children would not be overlooked in favour of Mr. Murdoch’s second family with his wife Wendi Deng.

Of course, she would not have know that her husband’s 14-year marriage to Ms. Deng would also end in divorce. The couple separated in the summer of 2013 and the rumour mill has run rampant since then. Some say that Ms. Deng had an affair with their children’s godfather, former Prime Minister Tony Blair, while others claim that Ms. Deng has been spying for the Chinese government all these years.

What is certain is that Mr. Murdoch will be writing another large cheque, once the dust settles.

2. Saudi arms dealer ADNAN KHASHOGGI left his wife SORAYA after 13 years of marriage. His extra marital affairs were no secret , but when he took up with one of his wife’s closest friends their union was over. She sued him for $2.5 billion but accepted an out of court settlement for $874 million. Mr. Kashoggi retained his yacht, Nabila, which at the time was the most expensive ship in the world and was featured in the James Bond movie “Never Say Never”.

The word was that Mr. Khashoggi’s fortunes declined in the late 1980s, thanks to overspending on festivities, ill-advised investments and his involvement in scandals including the collapse of the Bank of Credit and Commerce International, the fall of Ferdinand Marcos and the Iran-Contra affair—though he was never convicted of criminal wrongdoing. He now claims to be broke and living modestly in Monaco.

But not everyone is falling for that story. One tenacious American creditor and its lawyers are aggressively pursuing him for an 11-year-old debt of $21 million to a securities-clearing firm. In a move that would break new legal ground if successful, they are trying to get the American judgment against Mr. Khashoggi enforced in his native Saudi Arabia.

3. Russian billionaire businessman ROMAN ABRAMOVICH divorced his second wife Irina after 16 years of marriage and five children. Forbes magazine named him the tenth richest man in Russia, fiftieth in world rankings with a net worth of $11.2 billion. His payout to IRINA was a mere $300 million. Roman retained the Chelsea Football Club and a collection of businesses, homes, yachts, airplanes and cars, including a Ferrari, a Maserati, a Bugati, several Porches, and a Mercedes Benz.

He is said to be a collector of yachts, owning five at last count.

Hollywood celebrity, the aging Zsa Zsa Gabor’s lament is likely shared by Ms. Murdoch, Ms. Khashoggi and Ms. Abramovich, when she said: “I want a man that’s kind and understanding, is that too much to ask of a millionaire?

Lawdiva aka Georgialee Lang

World’s Most Expensive Divorces

Every once in a while a new client will make an appointment with the sole purpose of determining whether he/she can afford to get divorced or whether the financial consequences will be so devastating that he/she is better to stick it out.

The fact is that divorce often means relinquishing half of your property and paying generous, perhaps lifetime, spousal support. For a middle class Canadian it can be a significant financial setback.

However, it is no less crushing for spouses with great wealth. Consider the expenses of maintaining multiple homes in various locations around the world; travel expenses including the upkeep of executive jets or helicopters; lavish vacations; hundreds of thousands of dollars for the most exclusive private schools for their children and shopping sprees at Hermes, Vuitton and Cartier’s.

Do you think it was easy for the following group of millionaires/billionaires to write settlement cheques to their wives?

1. RUPERT MURDOCH, media tycoon, paid $1.7 billion in 1998 to his wife ANNA MURDOCH MANN, to whom he was married for 31 years. Ms. Mann recently broke her silence and gave her first interview to an Australian magazine. She referred to her ex as “ruthless” and predicted an ugly succession battle when Mr. Murdoch gives up the reins to his media conglomerate or dies. She is hoping that her children do not get overlooked in favour of Mr. Murdoch’s second family with his wife Wendy Deng.

2. Saudi arms dealer ADNAN KHASHOGGI left his wife SORAYA after 13 years of marriage. His extra marital affairs were no secret , but when he took up with one of his wife’s closest friends their union was over. She sued him for $2.5 billion but accepted an out of court settlement for $874 million. Mr. Kashoggi retained his yacht, Nabila, which at the time was the most expensive ship in the world and was featured in the James Bond movie “Never Say Never”. It is reported that Mr. Khashoggi suffered some serious business setbacks and now lives more modestly in Monaco.

3. Russian billionaire businessman ROMAN ABRAMOVICH divorced his second wife Irina after 16 years of marriage and five children. Forbes magazine named him the tenth richest man in Russia, fiftieth in world rankings with a net worth of $11.2 billion. His payout to IRINA was a mere $300 million. Roman retained the Chelsea Football Club and a collection of businesses, homes, yachts, airplanes and cars, including a Ferrari, a Maserati, a Bugati, several Porches, and a Mercedes Benz.

Zsa Zsa Gabor’s lament is likely shared by Ms. Murdoch, Ms. Khashoggi and Ms. Abramovich, when she said: “I want a man that’s kind and understanding, is that too much to ask of a millionaire?”

Lawdiva aka Georgialee Lang