Noteworthy Divorce Settlements of the Rich and Famous
People from all walks of life find themselves sitting on opposite sides of divorce negotiations. When those people are rich and famous, these noteworthy divorce settlements can add up to a lot of assets and cash.
Divorce Settlements of the Rich and Famous
Some noteworthy divorce settlements. Obviously, the more there is to begin with, the more there is to divvy up in a divorce:
One recent split that has drawn lots of attention is the settlement involving Amazon CEO Jeff Bezos and his wife MacKenzie. One of the most expensive divorces in history, the couple agreed to a 75/25 split of Amazon stock, with Jeff keeping the majority share. There are plenty of other details, but the bottom line is that MacKenzie walked away with over $35 billion.
When Bob and Sheila Johnson split after over 30 years together, they had the distinction of being the first billionaires of African-American descent. Their work included the co-founding of Black Entertainment Television (BET). Sheila exited the marriage with $400 million, roughly $12 million for each year of marriage.
A $460 million settlement accompanied the divorce of Craig and Wendy McCaw. Craig was an innovator in the cell phone industry, while Wendy made a fortune as a newspaper publisher.
Estimates after Steve and Elaine Wynn’s second divorce put the settlement at around $1 billion. The couple, who’d married on two separate occasions with a five-year pause between weddings, made their fortune in the Vegas casino business.
Madonna and Guy Ritchie’s divorce included a settlement of over $76 million. Their prosperity came out of years in the entertainment industry.
When Neil Diamond and his wife Murphy split after 25 years of marriage, they evenly divided the $300 million estate, earned over the course of Diamond’s singing career.
How are Settlements Determined?
In California, which is known as a community property state, any assets and debts that were accrued during the course of the marriage are generally evenly divided. Exceptions might include gifts or inheritance that went to a specific party, or separate property that may have been acquired while the spouses were living separately with no intention of reuniting. Examples of debt that might not be included in a settlement might be student loans, which will stick with the partner who incurred the loans.
Of course, every divorce has its own peculiarities, and not every split in the state winds up with a 50/50 division. That is due to valuation of various articles or properties, prenuptial agreements, and separate property agreements, which all factor into settlement negotiations.
Your California Divorce Settlement
Whether yours is a noteworthy divorce settlement in the millions of dollars, or just as noteworthy to you and involving thousands of dollars, having a sharp, knowledgeable attorney at your side as assets and debt are divided is important. At Beck Law P.C., we will advocate for the best possible outcome for you. Contact us in Santa Rosa if you live in Sonoma County, Mendocino County, or Lake County California.