US billionaire faces huge divorce payout

US billionaire Stewart Rahr may have to pay his wife of 43 years half his fortune of $1.6 billion because there is no prenuptial agreement in place.

According to reports, Carol Rahr recently launched divorce proceedings against the entrepreneur, who sold his pharmaceutical company Kinray for $1.3 billion in November 2010.

The move is reported to have followed an argument at the Nobu Fifty-Seven restaurant over arrangements for her birthday party.

The couple have two adult children together and live in Trump Park Avenue, New York City, a luxury apartment block owned by property developer Donald Trump.

If Mrs Rahr receives a payout of $800 million, the divorce will be one of the most expensive in the history of the city.

A source told the New York Post: “Stewart always said he’d never get divorced because it would be too expensive. They met when he didn’t have two cents to rub together.”

Another source told the paper: “Stewart was served with the papers right outside his Park Avenue apartment building. He was furious it was done in such a public way.”

Mr Rahr has reputation for flamboyance but has also donated in excess of $25 million to charities, including a recent donation of $7 million for prostate cancer research.

Photo of Park Avenue by Doug Kerr via Flickr under a Creative Commons licence

 

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