5 Entrepreneurs Who Lost Millions From Not Planning Their Divorce Properly

The aftermath of a divorce can be expensive and is an experience that is dreaded by most couples. While lovers try their best to save their marriages, sometimes divorce is the only logical conclusion. And things get hotter when there are huge amounts of wealth that need to be split. This is mostly the case with entrepreneurs and business tycoons who must make settlements worth millions. This group is known for making the largest divorce settlements in history, amounting to millions of dollars. Here are five entrepreneurs who have lost millions because they did not plan their divorce well: Samathur Li Kin-Kan Li Kin-Kan divorced his wife, Florence Tsang-Chiu-wing, because she refused to perform an abortion. As a result, this property tycoon had to pay an estimated $157 million, making it the largest settlement in Asian history, at the time. Chiu-wing had declined the abortion request and subsequently discovered that her husband was having an affair; events that led to the end of their eight-year marriage in 2008. The cost of the settlement was equivalent to 20 percent of Li Kin-Kan’s net worth and was granted under a new law that suggested a 50-50 split of assets. In fact, Judge John Saunders, who presided over the case, considered the maintenance of an expensive yacht, among other expenses, claiming that Tsang was entitled to maintain a lifestyle she had been accustomed to. According to Li, his wife had ‘tricked’ him into getting pregnant at a time when he was not prepared. Even though she had requested a higher figure initially, she was satisfied with the final amount. Adnan Khashoggi Saudi entrepreneur Adnan Khashoggi married Sandra Daly in 1961. Unfortunately, the couple called it quits in 1982, resulting in an estimated $874 million divorce settlement. Khashoggi’s divorce held the record between the 60’s and 80’s as the most expensive divorce settlement. Sandra Daly, who later changed her name to Soraya, had initially sued her husband for $2.54 billion before the couple agreed to a final figure ($874 million). The divorce delayed for five years until the judge passed an order for the payment. Both Adnan and Soraya opted to file for a divorce uncontested. This meant that the reason for the divorce would be withheld and would not be disclosed to the public. Craig McCaw Mc Caw made a fortune after selling his communications company, but a year later, he had to share the ‘reward’ with his wife, Wendy McCaw, whom he had met at Stanford University in the early 1970s. Wendy received an estimated $460 million; an amount that earned her a slot (at that time) in the top 400 list of the most wealthy people in the United States. The two separated after 21 years citing personal differences after Craig Mc Caw initiated the divorce. Craig insisted that much of the $1.3 billion fortune was his, claiming that the wealth had been generated from a series of investments in collaboration with his family members. On the other hand, Wendy maintained […]

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