For many wealthy Colorado residents, privacy is of the utmost importance, and when divorce is on the table, maintaining that privacy becomes a challenge. This especially true for couples who are not only wealthy, but are also well-known. An example is found in the divorce saga between Ken and Anne Griffin. The couple recently settled their divorce case, and the ultimate division of marital assets will likely remain private. Prior to that development, however, the pair went through multiple bitter legal exchanges over the end of their marriage.
Ken Griffin was named as one of the most wealthy people in America, and has an estimated net worth of $7 billion. He made his fortune with Citadel, a hedge fund that he started while still a student at Harvard. For more than a year, Ken and Anne Griffin have struggled over the details of their divorce and how to divide the massive level of wealth held within the marriage.
Anne Griffin signed a prenuptial agreement that entitles her to a lump sum of $22.5 million, as well as $1 million for each year that the couple has been married and half of the couple’s primary residence. However, that prenup was signed the day before the couple married. The validity of the document was a primary source of contention within the early legal filings.
There is no indication of why the couple decided to settle out of court. However, if the prenup were to have been successfully overturned, the division of marital assets would likely have been far in excess of what was outlined within the marital agreement. It may be the case that negotiating a settlement was an attractive option for Ken Griffin, rather than taking the matter before a court of law. For high asset couples in Colorado, the Griffin divorce offers a number of important lessons.
Source: Forbes, “Hedge Fund Billionaire Ken Griffin Settles Contentious Divorce“, Chase Peterson-Withorn, Oct. 7, 2015