Elon Musk Paying Almost Nothing In Divorce Settlement
SpaceX and Tesla founder Elon Musk will pay his ex-wife just $4.2 million to finalize their divorce. Talulah Riley wed Musk in September 2010, and the couple separated in July 2011. Details from the lawsuit were obtained through the L.A. County Superior Court.
Musk is estimated to be worth $680 million. Along with SpaceX and Tesla, he also co-founded popular payments website PayPal.
Under terms of the deal, Talulah will be allowed to keep her Cartier watch, Gucci watch, various items of diamond jewelry, and her Tesla Roadster.
The $4.2 million will be given out over a 9-year period and includes a $500,000 up front payment and a $900,000 payment after her lawyers sign the final judgement.
Talulah will then receive $700,000 at the 1-year divorce mark followed by $280,000 annual payments for years two through eight. On the ninth anniversary of her divorce, Talulah will receive a final payment of $140,000.
The couple will officially divorce on September 27, 2012.
Elon Musk officially announced his divorce from Talulah Riley in January when he tweeted:
“@rileytalulah It was an amazing four years. I will love you forever. You will make someone very happy one day.”
At the time, Musk admitted that his wife had moved out of their shared home six months earlier.
During the breakup, it was unclear if the couple had a prenuptial agreement in place; based on the rather small payment agreement, all signs at this time point to yes.
This time around, it looks as if Elon Musk was trying to avoid the high-profile and messy type of divorce he faced when ending his marriage to Justine Musk in 2008.