Couples in Texas and across the nation may be taking note that Rupert Murdoch and Wendi Deng Murdoch divorced in New York City after 14 years of marriage. The president of the New York chapter of the American Academy of Matrimonial Lawyers stated that it is commonplace for wealthy spouses to settle their divorces in New York due to the state’s respect for prenuptial agreements and non-public divorce filing procedures.
The Murdoch family is estimated to be worth approximately $13.4 billion, and the divorce is not expected to have financial implications for Murdoch’s business holdings. The couple publically stated that they have reached a mutually agreed-upon settlement plan and will continue to move forward with respect for one another. In the settlement, Deng will retain their $94 million dollar Fifth Avenue apartment in which they have been raising their children. Media sources do not know if this property was allocated to Deng by way of a prenuptial agreement or if it was a decision made with their daughters in mind.
This is the billionaire’s third divorce, and it is expected to be less costly than his previous divorce for which he paid an estimated $1.7 billion. Murdoch covered all of his bases in his third marriage by getting two prenuptial agreements with Deng, as well as two post-nuptials.
Commentators in the press noted that despite the wealth involved in this divorce, the couple is trying to execute the split in such a way that is conducive to the happiness and well-being of their daughters. Reaching mutual divorce settlements with the help of legal counsel might ease the transition for all members of those families that are in comparable situations.
Source: ABC News, “Rupert Murdoch, Pie-Catching Wife Finalize Divorce“, Alan Farnham, November 20, 2013