US billionaire Stewart Rahr reaches multi-million settlement with ex-wife

Divorce|News|Relationships|May 14th 2013

New YorkFlamboyant US billionaire Stewart Rahr has reached a financial settlement with estranged wife Carol, the New York Post reports.

Carol Rahr married the pharmaceutical moghul in 1969 but served him with divorce papers in December last year, after 43 years together. The couple had no prenuptial agreement.

According to the Post, the party-loving billionaire has now agreed to pay his wife $250 million or roughly 16 per cent of his net worth. The paper claims that she will receive the couple’s $30 million apartment in Trump Park AvenueNew York City, an  apartment block owned by property developer Donald Trump. Her 67 year-old husband, meanwhile, will keep their $45 million home in the Hamptons, an upmarket seaside resort on nearby Long Island.

Mr Rahr told Forbes he could not comment on the figure. His attorney also declined to discuss specifics.

“I cannot comment on the specific terms of the settlement, as there is a confidentiality clause . . . both sides believed the settlement to be fair . . . Stewart and Carol remain good friends and continue to share an amicable relationship.”

The New York native sold his pharmaceutical wholesale business Kinray for $1.3 billion in 2010. The settlement with his former wife will mean he remains a billionaire.

Photo of New York City by Luca5 via Flickr under a Creative Commons licence

Author: Stowe Family Law

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