Much at stake in billionaire's divorce case
Posted by Thomas Pettinicchi of D'Amico & Pettinicchi, LLC on Dec 12, 2012 in Child Support
Stewart Rahr, a man whose personal fortune is estimated to be in the neighborhood of $1.6 billion, recently made public that he and his wife are at the end of their 43 years together, and are in the process of getting divorced. While the divorce is generally described as amicable, there is much at stake in the couple's division of marital assets. While most Connecticut residents getting divorced are not this wealthy, in any high asset divorce case, the help of an experienced attorney is essential.
Bitter arguments can ensue over the division of property and assets in any divorce, and those involving large assets are particularly complex. Rahr made his fortune in the pharmaceutical industry. The 66-year-old businessman said that the climate in his marriage began to deteriorate after his youngest child left the family home to attend college. He suggested that often married couples may need to reassess their relationships after all children have become adults and left home.
The divorce process has often led to the dissipation of some former members of the Forbes 400 richest people. In many cases, the details of property settlement agreements are not known because they are kept confidential, either by agreement or court order.
Some say that Rahr could lose as much as 37.5 percent of his fortune in the divorce, although, given the size of his fortune, he might still be a billionaire. In 2010, he obtained $1.3 billion when the Kinray Pharmaceutical company he was part of was sold. He further increased his holdings, sources say, by investing those proceeds.
Source: Forbes, "Will Divorce Knock Stewart Rahr Off Billionaires List?" Caleb Melby, Dec. 4, 2012