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NEWS : STORIES
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12.15.2008 2:41 PM EST
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Madonna To Pay Guy Ritchie More Than $76 Million In Divorce Settlement
Singer's rep said the payment was between $76 and $92 million.
by
Gil Kaufman
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Guy Ritchie and Madonna
(Photo:
Dave Hogan/Getty Images
)
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Less than two months after confirming that she was getting divorced from movie maker Guy Ritchie, Madonna has reportedly settled with her ex for
more than $76 million.
The Associated Press reported on Monday (December 15) that Madonna's longtime spokesperson, Liz Rosenberg, confirmed that the pop singer has settled with the "Sherlock Holmes" director for between $76 and $92 million as part of their divorce agreement. Rosenberg said that figure includes the value of the couple's sprawling country home, the 1,100-acre Ashcombe House, in western England, whose original construction dates back to the late 1600s.
The couple finalized their divorce last month in a quickie proceeding in the High Court in London, though details of the proceedings were not announced and neither showed up for the court date. The couple's joint fortune is estimated to be more than $525 million. They two sons together, 8-year-old Rocco and adopted Malawian son, David Banda.
Rosenberg said on Monday that the financial part of the settlement has been worked out, but that arrangements for custody of the couple's children have not yet been finalized. Madonna reportedly favors having her children live with her in New York, while Ritchie is said to prefer having them with him in England.
"I'd assume it's one of the largest payouts ever in a divorce settlement," said Rosenberg, who could not be reached for further comment at press time.
Under English law, Ritchie, who is estimated to have his own fortune worth more than $50 million, could have been entitled to up to 50 percent of the money earned during the couple's eight-year marriage, but friends told the Times Online last month that the director was not interested in taking half his wife's fortune.
While, relatively speaking, Madonna was not terribly hurt financially in the divorce, the singer did seem to take a bit of a beating during her show in Rio de Janiero over the weekend, when she wiped out on the rain-slicked stage and made a less-than-graceful recovery.
This report is provided by MTV News
 
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