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15 Most Expensive Divorces
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1 month agoon
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The recent news of South Korean billionaire Chey Tae-won’s divorce settlement, totaling $1 billion, has caused a stir online.
Chey, chairman of the SK Group conglomerate, has been ordered to pay his ex-wife a divorce settlement of 1.38 trillion won (approximately $1bn), marking the largest divorce settlement in South Korean history.
Nigerians reacted in shock, with many commenting that marriage now appears to be a business arrangement rather than a romantic commitment.
However this is far from the largest divorce settlement in history.
Here are the most expensive divorce cases as highlighted by The PUNCH:
- Jeff Bezos and Mackenzie Scott
In 2019, Amazon founder Jeff Bezos, the world’s wealthiest individual with a net worth of $197 billion, ended his 26-year marriage to MacKenzie Scott, finalising their divorce with a settlement of $38 billion.
- Bill Gates and Melinda Gates
The divorce settlement between Bill Gates and Melinda French Gates remained private, with no public disclosure of financial details. While the couple’s combined net worth was estimated at $130 billion, it is reported that Melinda French Gates received over $6 billion in stock shares, but the exact asset division remains undisclosed.
READ ALSO: Billionaire To Pay $1bn To Ex-wife In Divorce Settlement
- Alec and Jocelyn Wildenstein
In 1999, French-American businessman and art dealer Alec Wildenstein ended his 21-year marriage to Jocelyn Wildenstein, resulting in a divorce settlement worth $3.8 billion, with Jocelyn receiving an initial $2.5 billion and an additional $100 million annually for 13 years.
- Rupert Murdoch and Anna Torv Mann
Rupert Murdoch and Anna Torv Mann, married for over three decades and parents of three, separated in 1999. Their divorce settlement was valued between $1.2 and $1.7 billion, equivalent to approximately $40-56 million per year of marriage.
- Bernie Ecclestone and Slavica Radic
Bernie Ecclestone, former chief executive of Formula One group, ended his 25-year marriage to model Slavica Radic in 2009, with a reported divorce settlement of $1.2 billion.
READ ALSO: Female Billionaire Sentenced To Death For Looting $44bn
- Steve and Elaine Wynn
Steve and Elaine Wynn, Las Vegas casino moguls, had two marriages spanning 1963-1986 and 1991-2010. Their second divorce in 2010 resulted in a settlement worth $1 billion to Elaine, including $741 million in Wynn Resorts stock, the company they co-founded.
- Harold Hamm and Sue Ann Arnall
In 2014, oil tycoon Harold Hamm finalised his divorce from Sue Ann Arnall, paying her $974.8 million in a single settlement payment.
- Adnan and Soraya Khashoggi
According to Forbes, the late Saudi billionaire Adnan Khashoggi paid his ex-wife Soraya Khashoggi a divorce settlement of $874 million in 1982, equivalent to $42 million per year of their 21-year marriage, in an out-of-court agreement.
- Sheikh Mohammed bin Rashid al-Maktoum & Princess Haya bint al-Hussein
In December 2021, the Dubai ruler was court-ordered to pay a $728 million to his ex-wife, Princess Haya, ending a prolonged divorce battle marked by allegations of infidelity and threats. The settlement will cover Princess Haya’s lifelong security expenses and ongoing costs for their two children, Al Jalila and Sheikh Zayed, according to CNN.
- Tiger Woods and Elin Nordegren
Tiger Woods and Elim Nordegren finalised their divorce in August 2010, after five years of marriage, with Elin receiving a reported $100 million settlement, equivalent to $20 million per year of marriage.
READ ALSO: Forbes Declares Singer Taylor Swift Billionaire
- Stephen Spielberg and Amy Irving
Film director Steven Spielberg’s 1989 divorce from Amy Irving, his wife of four years, resulted in a settlement worth $100 million, equivalent to half his wealth at the time, or $25 million per year of marriage.
- Paul McCartney and Heather Mills
Paul McCartney’s ex-wife, Heather Mills, received a divorce settlement of $50 million, translating to $12.5 million per year for their four-year marriage.
- Harrison Ford and Melissa Mathison
The Indiana Jones actor Harrison Ford’s 1994 divorce from Melissa Mathison, his wife of 18 years and mother of two of his children, resulted in a settlement of $90 million, equivalent to $5 million per year of marriage.
- Michael Douglas and Diandra Douglas
Two-time Academy Award winner Michael Douglas’s 23-year marriage to Diandra Douglas ended in a divorce settlement of $45 million, which translates to approximately $2 million per year of their marriage.
- Madonna and Guy Ritchie
Madonna’s divorce from film director Guy Ritchie in 2008 reportedly resulted in a settlement of $76 – $92 million, paid to the British film director and her ex-husband of eight years. The specifics of their agreement remain private, so the exact reasons for the payment amount aren’t publicly disclosed.
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JUST IN: UK’s Labour Party Wins General Election
Published
3 hours agoon
July 5, 2024By
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The United Kingdom’s Labour Party swept to power early on Friday after winning the country’s general election, crossing the 326-seat threshold for a working majority in the House of Commons.
“A mandate like this comes with a great responsibility,” Labour leader Keir Starmer told supporters at a triumphant dawn rally in London, moments after the results that sealed its landslide win were announced.
BBC reports that as the final figures come in, Labour is expected to win 410 seats, with the Conservatives on 144.
READ ALSO: Edo Guber: Shaibu Reacts To Court Ruling Voiding PDP Primary
Also, Rishi Sunak has accepted defeat, and said he called Starmer to congratulate him.
Meanwhile, Prime Minister-elect, Keir Starmer, has pledged to start a period of “national renewal” in the UK after his opposition Labour Party defeated the ruling Conservatives in the general election.
“Today we start the next chapter — begin the work of change, the mission of national renewal and start to rebuild our country,” Starmer said in a triumphant victory speech in London after his party secured a majority in parliament.
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ACJL: CLEEN Foundation Organises Stakeholders Workshop On Parole System
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17 hours agoon
July 4, 2024By
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In an effort to put in place a functional parole system in the Administration of Criminal Justice Laws (ACJL), in Edo State, a non-profit organisation – CLEEN Foundation, organised a two-day stakeholders workshop in Benin.
INFO DAILY reports that stakeholders were drawn from Civil Society Organisations; officials of Edo State government particularly Ministry of Justice; the police; Nigerian Bar Association (NBA); Nigerian Correctional Service (NSC) and human rights commission amongst others.
In his opening remarks, the Executive Director, CLEEN Foundation, Gad Peter, said the workshop was aimed at giving more insights into the parole system and how best to deepen and enhance the Administration of Justice.
READ ALSO: Lagos Roads, Homes Flooded After Downpour
“We want to drive advocacy for parole system and address the development that government has put in place to improve ACJS,” he said.
In the opening remarks read by Mrs. Blessing Abiri, Program Advisor, CLEEN Foundation, the Executive Director described the parole system as a critical component of the justice system.
He added that the workshop was geared towards addressing the gap in parole and ACJL.
Peter noted: “Parole reflects a balance between punitive measures and the need to rehabilitate, recognize and reform individuals that will bring positive change.
“It (Parole) is aimed at rehabilitating offenders and reintegrating them into the society as law abiding citizens.”
In his remarks, Attorney- General of Edo State who was represented by Mrs. Stella Okojie, a Director in the ministry, said Section 468 of ACJL in the state specifically made provisions for parole.
The Attorney-General disclosed that the government has acquired land for State-owned correctional centres as part of efforts geared towards deepening administration of justice.
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Lagos State has been bolstered with 13 additional Band A feeders, following approval from the Nigerian Electricity Regulatory Commission.
The Ikeja Electricity Distribution Company announced that the upgrade was granted due to their consistent provision of at least 20 hours of daily electricity.
“Premised on our demonstrated ability to consistently provide for a minimum of 20 hours of daily during a performance evaluation period monitored by the regulator, we are pleased to announce that we have obtained approval to add 13 Band Feeders to our network,” a statement on IKEDC’s Twitter handle read on Wednesday.
The upgraded feeders include – OgbaINJ-T3-Agege, AlimoshoINJ-T8-Okunola, OworoINJ-T3-Anthony, AdeniyiJonesINJ-T1-Anifowoshe, and IsheriINJ-T1-Bankole.
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IBEDC disconnects Ogun industrial estate, others over debts
Others are, EjigboTCN-Igando, EjigboTCN-Ijegun, IkoroduTCN-Fakale, Maryland INJ-T1-Ketu, OjoduINJ- T1-King Avenue, OdungunyanINJ-T1-Agodo and T1-IjuINJ-T1- Ajuwon..
This upgrade increases IKEDC’s total feeders to 141 from 128.
Meanwhile, NERC has warned DisCos of sanctions if they fail to complete the STS meter migration by July 31, 2024.
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JUST IN: UK’s Labour Party Wins General Election
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ACJL: CLEEN Foundation Organises Stakeholders Workshop On Parole System
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