A $250 million settlement has been awarded to billionaire Stewart Rahr’s ex-wife.
The self-described “King of All Fun” sold his pharmaceutical company Kinray for $1.3 billion in 2010. Since Rahr built the business over the course of his marriage, the couple never entered into a prenuptial agreement. As such, his ex-wife is getting quite a bit of the money her husband made during his career.
In addition to the $250 million settlement, Carol Rahr is getting their $30 million Trump Park Avenue apartment. She is currently living in a hotel since Stewart has yet to move out of the residence.
Sources told the New York Post that Carol was concerned that Stewart was burning through their money by throwing lavish parties with A-list celebrities while donating a large chunk of change to charities. She reportedly served her husband with divorce papers in December outside of their New York home.
The billionaire’s ex-wife hired Robert Stephan Cohen as her lawyer during the proceedings. Stewart, meanwhile, brought in Ben Brafman and David Aronson. The duo represented Katie Holmes after she filed for divorce from Oblivion star Tom Cruise.
According to Forbes, the $250 million settlement accounts for nearly 16 percent of Stewart Rahr’s net worth. However, the amount of money he will give to his wife won’t knock him out of the billionaire’s list. In other words, the “King of All Fun” will still have plenty of money left to throw all sorts of wild parties.
Rahr said in December that he might only have a “few sunrises left,” which is why he spends a fair amount of time having fun and hanging out with celebrities. Bill Clinton, Alicia Keys, and Mark Wahlberg have all attended his parties over the years. He’s also been spotted with LL Cool J, Lionel Richie, and Tommy Hilfiger.
Attorneys for both Stewart and Carol Rahr have yet to weigh in on the $250 million settlement.
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