Google’s CEO, Eric Schmidt, is splitting from his wife, Wendy-but this is no run-of-the-mill divorce. This is alleged to be one of the most expensive divorces in history, with Schmidt having to part with $1.5 Billion of his personal fortune. The only divorce involving more money than Schmidt’s is that of Rupert Murdoch, the founder, Chairman and CEO of the global media holding company News Corporation, which is one of the world’s largest media conglomerates. Murdoch’s divorce cost him $1.7 Billion.
The Schmidts have been married for 13 years, and according to NBC, the couple had an “open relationship.” The parties also have 2 children together.
Apparently Schmidt will have to sell millions of his shares of Google stock in order to pay for the Divorce settlement, as well as some of his real estate, including mansions in both Massachusetts and California.
Forbes Magazine ranked Schmidt as the 138th-richest person in the world in 2012, with his estimated total wealth near $7.5 billion. Schmidt joined Google’s Board of Directors in 2001, and thereafter became the company’s CEO later that same year. Schmidt shared in daily operations of Google – with his duties centered on management. During his career, Schmidt was also on the Board of Directors of Apple from 2006-2009. Schmidt’s term as Google CEO lasted from 2001-2011, and his approximate salary is estimated at $1.25 million.
Our attorneys at Lisa Marie Vari & Associates have dealt with many high income divorce cases, and high income child support matters for professionals, athletes, business owners, and the like. Our attorneys are also able to utilize forensic accountants if necessary in a high-income case. A forensic accountant would assist in the determination of the income of the high-income individual, which is often necessary in a high-income case, as the high-income individual possesses complex assets. If you have questions about divorce in Pennsylvania, contact us today!