He’s a CEO who makes $4 million a year, and his family’s net worth is $13 billion. She’s a superstar model who makes $100,000 every time she walks down a runway. They recently agreed to end their child support battle.
The child was the product of a four-month relationship, which the father, French businessman Francois-Henri Pinault, described as one where he spent only a total of seven days with the child’s mother, supermodel Linda Evangelista.
Evangelista said in legal papers that she is spending $46,000 a month to raise their child. Expenses include armed bodyguards and a round-the-clock nanny. Her lawyers said that she willingly paid all the expenses herself at first, but now she needs help after her $1.8 million per year income dropped.
Pinault, who is currently married to Academy-Award-nominated actress Salma Hayek, is head of a conglomerate of high-fashion firms. He legally recognized his child in 2007 but thought that the amount of money Evanglista originally asked for was unreasonable. The conflict eventually went to court.
Now the child’s parents are about to settle, after reportedly negotiating for a full weekend extending into Monday morning. Whatever they have decided on — whether it is more or less than Sean “Diddy” Combs’ $19,000 per month child support payments or Revlon Chairman Ronald Perelman’s $12,000 per month — the child whose father wears a $100,000 watch and whose mother still makes $100,000 for walking a runway is unlikely to lack any of the basic material necessities of life.
Stay tuned for more from our Ft. Worth family law blog …
To learn more about divorce, child custody, child support or post-divorce issues, contact an experienced and skilled legal professional.
This post is for informational purposes only and is not to be construed as legal advice.
Yahoo! News, “Model, billionaire settle NYC child support fight,” Jennifer Peltz, May 7, 2012