Hedge fund titan Sir Chris Hohn will have to pay his ex-wife £337m, in what is thought to be the largest ever settlement a woman has received in a UK divorce case.
The estranged wife, Jamie Cooper-Hohn, had been seeking around half of Hohn's estimated 700m fortune since the summer, however Hohn offered a quarter. Both parties are thought to be considering an appeal.
It is understood that Hohn has launched a parallel case against Cooper-Hohn, alleging bribery and corruption.
Hedge fund manager and philanthropist Hohn is the son of a Jamaican mechanic of European descent who moved to Britain in 1960. He met Jamie Cooper, a fellow Harvard graduate student from Chicago, at a party during his studies there.
*"Divorce capital"*
Yesterday's decision will help cement London's reputation as the "divorce capital" of the world. This can be traced back to White v White, a divorce case which took place over ten years ago, where the judge said cash left over after divorcees' needs have been met should be split equally.
Here are some of the agreements they had to beat to take that title.
*Boris Berezovsky and Galina Besharova (2011):*
Russian oligarch Boris Berezovsky and ex-wife Galina Besharova settled out of court for what reports estimate was a total of more than £100m - though some estimate the actual figure was closer to £220m. The couple had obtained a divorce in a ten-minute court hearing that took place in London in 2010. Their total fortune was unknown but conservative estimates put it at around £500m.
*John and Beverley Charman (2006)*
London insurance market heavyweight John Charman settled for £48m with his former wife Beverley after a high court judge rejected his appeal against the initial ruling. He had initially offered her £6m in cash but this was turned down on the basis it was not a fair settlement. Together the couple's vast fortune had totalled a dizzying £131m.
*Phil Collins and Orianne Cevey (2008)*
Musician Phil Collins settled with former wife of seven years Orianne Cevey for £25m in 2008. Colins and Cevey initially met on one of his tours in 1994 while she was working as a translator. In 2010 the singer told The Mirror three divorces had landed him with a bill of £42m.
*Sir Paul McCartney and Heather Mills (2008)*
A high court judge awarded Heather Mills £24.3m in her divorce settlement with Paul McCartney in 2008. She had initially wanted £125m when the couple separated after a four-year marriage in 2006. She was granted a £16.5m cash payout and £35,000 a year in maintenance for their daughter Beatrice. The judgement revealed the former Beatle was worth a reported £400m.
*Michelle and Scot Young (2013)*
Michelle Young was awarded a £20m court settlement after a seven-year legal battle in 2013. She had been seeking half of her then-husbands assets but claimed they had been hidden away in a series of secret investments. Mr Young had initially offered his wife the sum of £300m in 2009 - however a year later he claimed to have become bankrupt. Reported by City A.M. 8 hours ago.
The estranged wife, Jamie Cooper-Hohn, had been seeking around half of Hohn's estimated 700m fortune since the summer, however Hohn offered a quarter. Both parties are thought to be considering an appeal.
It is understood that Hohn has launched a parallel case against Cooper-Hohn, alleging bribery and corruption.
Hedge fund manager and philanthropist Hohn is the son of a Jamaican mechanic of European descent who moved to Britain in 1960. He met Jamie Cooper, a fellow Harvard graduate student from Chicago, at a party during his studies there.
*"Divorce capital"*
Yesterday's decision will help cement London's reputation as the "divorce capital" of the world. This can be traced back to White v White, a divorce case which took place over ten years ago, where the judge said cash left over after divorcees' needs have been met should be split equally.
Here are some of the agreements they had to beat to take that title.
*Boris Berezovsky and Galina Besharova (2011):*
Russian oligarch Boris Berezovsky and ex-wife Galina Besharova settled out of court for what reports estimate was a total of more than £100m - though some estimate the actual figure was closer to £220m. The couple had obtained a divorce in a ten-minute court hearing that took place in London in 2010. Their total fortune was unknown but conservative estimates put it at around £500m.
*John and Beverley Charman (2006)*
London insurance market heavyweight John Charman settled for £48m with his former wife Beverley after a high court judge rejected his appeal against the initial ruling. He had initially offered her £6m in cash but this was turned down on the basis it was not a fair settlement. Together the couple's vast fortune had totalled a dizzying £131m.
*Phil Collins and Orianne Cevey (2008)*
Musician Phil Collins settled with former wife of seven years Orianne Cevey for £25m in 2008. Colins and Cevey initially met on one of his tours in 1994 while she was working as a translator. In 2010 the singer told The Mirror three divorces had landed him with a bill of £42m.
*Sir Paul McCartney and Heather Mills (2008)*
A high court judge awarded Heather Mills £24.3m in her divorce settlement with Paul McCartney in 2008. She had initially wanted £125m when the couple separated after a four-year marriage in 2006. She was granted a £16.5m cash payout and £35,000 a year in maintenance for their daughter Beatrice. The judgement revealed the former Beatle was worth a reported £400m.
*Michelle and Scot Young (2013)*
Michelle Young was awarded a £20m court settlement after a seven-year legal battle in 2013. She had been seeking half of her then-husbands assets but claimed they had been hidden away in a series of secret investments. Mr Young had initially offered his wife the sum of £300m in 2009 - however a year later he claimed to have become bankrupt. Reported by City A.M. 8 hours ago.