As a high-profile figure who is well known for business, sports or entertainment in California and throughout the country, you may have experienced a paparazzi onslaught when word began to circulate that your marriage was in trouble. After filing for divorce, you may have felt like reporters were following you everywhere. It’s understandable that you’d want to protect your privacy but also your assets.
Some celebrity spouses haven’t fared so well during property division proceedings. If you don’t want to wind up in a similar situation, it’s best to do some research ahead of time to seek clarification of state laws. It’s also wise to seek guidance and support from someone who is well-versed in high-asset divorce issues.
Scott Samuel (Scooter) Braun paid well over $20 million in divorce settlement
The executive manager for big name music artists, such as Demi Lovato, Justin Bieber and Ariana Grande, filed for divorce in 2021. Scooter Braun and his former wife were married for seven years, and it took more than a year to settle their divorce. On Braun’s end, that settlement was quite expensive; he agreed to a lump sum spousal support payment of more than $20 million. The judge also ordered him to pay $60,000 per month in child support.
Dr. Dre and his wife divorced after 24 years of marriage
Record producer Andre Young, known colloquially as “Dr. Dre,” amassed a fortune worth $820 million by the time his wife filed for divorce in 2021. She agreed to a $100 million settlement, payable in two installments.
The Sheikh of Dubai paid more than Dr. Dre and Scooter Braun combined
One of the most substantial divorce settlements in recent years was that of Sheikh Mohammed bin Rashid al-Maktoum. After an intense and contentious legal battle that lasted several years, the court ordered the Arab ruler to pay $728 million to his former spouse.
How can you protect your financial interests in a high-asset divorce?
Full disclosure is required in a California divorce. If you suspect that your ex isn’t following the rules when it comes to listing assets and liabilities, you can bring the matter to the court’s attention, lest he or she gets away with a hidden asset scheme, leaving you with less than you’re entitled to receive in a settlement.
California is a community property state, which means you and your ex must split all marital property 50/50. However, it’s helpful to avoid signing an agreement, unless and until you are convinced that you are receiving a fair settlement.