When the Rich and Famous Divorce, the Settlements are Astronomical

Divorce isn’t limited to a particular race, religion, or economic status.  People of all stripes find themselves in need of divorce.  When those people are rich and famous, the titillating details can include incredible amounts of money!

Some Famous Splits 

It stands to reason that the more money and assets a couple has the more there is to divvy up when the marriage ends.  Some big names that have been in the news include:

• Jeff & MacKenzie Bezos experienced one of the most expensive divorces in history. Bezos, of Amazon fame, agreed to a 72/25 split of Amazon stock, Jeff keeping the lion’s share. Additional details add up to $35 billion going to MacKenzie in the end.
• The first Black Americans who could claim billionaire status wound up having to split the goods in the end. After 30 years together, the co-founders of Black Entertainment Television (BET) called it quits.  Sheila Johnson walked away with $400 million, an average of $12 million per year of marriage.
• Craig McCaw made his money in cell phone innovation, while his wife, Wendy, made a fortune as a newspaper publisher. These two independently wealthy people had a $460 million settlement in their divorce.
• When Madonna and Guy Ritchie divorced, their years in the entertainment industry had added up. Their settlement exceeded $76 million.
• When singer Neil Diamond and his wife of 25 years divorced, they evenly divided the estate accrued over the course of Diamond’s career. Each of them walked away with $150 million.
• Steve and Elaine Wynn’s second divorce resulted in an estimated $1 billion settlement. The two had been married previously and with a five-year hiatus between weddings.  The Vegas casino business had been good to them, resulting in the huge settlement.

Determining Settlements 

In Missouri, the process of dividing property involves looking at a variety of issues.  As an equitable distribution state, the court is obligated to consider the following:

• The amount of marital property;
• Blame in the divorce;
• Economic misconduct;
• Each partner’s contributions to the marriage;
• Whether or not one person supported the other through college or career advancement;
• Earning ability of each person;
• Needs of each person;
• Whether or not one spouse will need to care for minor children.

Once the court determines the appropriate settlement, it is binding by law.  Although not necessarily an equal distribution, the court will attempt to provide what each person needs moving forward.

Your Divorce 

If you are considering a divorce, regardless of circumstances, the experienced Springfield divorce attorneys at Courtney & Mills can help.  We assist people from all backgrounds and situations to move forward as we fight to achieve the best possible outcomes in a divorce. Schedule a confidential consultation with our office today.

Resource:

businessinsider.com/most-expensive-divorce-settlements-2018-1#4-steve-and-elaine-wynn-2010-1-billion-7