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

 

Marilyn Stowe

The senior partner at Stowe Family Law, Marilyn Stowe is one of Britain’s best known divorce lawyers with clients throughout the country, in Europe, the Far East and the USA.

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