Howard Sosin was born in Illinois and became a financial whiz. He was for a time an associate Professor at the Columbia Business School. He founded American International Group Financial Products in 1987 and remained there until 1993.Wikipedia
Wife Cheats on Husband, Gets $40M in Divorce
Published March 25, 2005 Associated Press
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BRIDGEPORT, Conn. – A judge has awarded the former wife of a multimillionaire businessman a divorce settlement worth more than $40 million even though she admitted having affairs with her rock-climbing guide and a man she met on a flight to China.
In addition to a $24 million payment, Susan Sosin (search) will keep the couple's $3.6 million Manhattan apartment, $2 million Utah ski house and $800,000 home in Wallkill, N.Y. (search). But she has to vacate the couple's two mansions in Connecticut and three desert properties in Arizona.
In the divorce granted Wednesday, she also gets to keep $6 million in her brokerage accounts, eight cars and $2.9 million in jewelry, including a ruby piece her husband had bought for her but hadn't given to her prior to their divorce.
Richard Albrecht (search), attorney for Sosin's husband, Howard, estimated the total value of the award at $43 million, or 27 percent of the estate. She wanted half, he said.
"My opinion is her conduct in this matter affected the award," Albrecht said.
Susan Sosin's lawyer, Frederic J. Siegel, estimated the total value of the award was about $45 million and said his client asked for about 45 percent of the estate.
"By anybody's standards, it's a large amount of money," Siegel said. "Both parties will be able to move on with their lives."
Siegel said both sides were at fault for the divorce and defended his client as a good mother.
Howard Sosin, 54, who founded AIG Financial Products (search) in 1987, filed for divorce after discovering his wife's relationships in February 2003. During an upgrade of their computer system, he found hundreds of e-mails between his wife and her lover, according to testimony.
Susan Sosin, 51, admitted in testimony that she had become intimate with a guide while rock climbing in 1996, though she said it was a spontaneous and isolated occurrence. During a flight to China in 2000, she met a married man, and that led to a lengthy affair, according to testimony.
"The parties' marriage has been undeniably marred by the defendant's infidelity," Superior Court Judge Howard Owens stated in his verdict. "Although her sexual relationship was not the sole cause of the breakdown, it did effectively terminate the marriage."
Howard Sosin's wealth was estimated at $168 million. Among the assets he gets to keep are $89 million in bank accounts, 10 of the couple's 18 cars, $960,000 worth of private club memberships and $22 million in fine art.
The couple met in 1978 when Howard Sosin was an assistant professor at Columbia University. At the time, she was married to another man and working in retail.
Howard Sosin served as the president and chief operating officer of AIG Financial Products until 1993 when he left the company. Following litigation, he received $182 million from AIG.
http://www.foxnews.com/story/2005/03/25/wife-cheats-on-husband-gets-40m-in-divorce.html
from wikipedia
- Bernie Ecclestone's divorce in 2009 after 23 years of marriage from Slavica; estimated at $1–$1.2 billion.[1]
- Harold Hamm's divorce in 2012 after 24 years from Sue Ann Arnall; estimated at $974.8 million.[2]
- Adnan Khashoggi's divorce in 1980 after 20 years from Soraya Khashoggi; estimated at $850 million.[3]
- Craig McCaw's divorce in 1997 after 21 years from Wendy McCaw; estimated to exceed $460 million.[4]
- Mel Gibson's divorce in 2006 after 26 years from Robyn Moore Gibson; estimated at $425 million.[5]
- Robert L. Johnson's divorce from Sheila Johnson: estimated at $400 million.
- Roman Abramovich's divorce from Irina Abramovich; estimated at $300 million.[6]
- Invenergy's Michael Polsky's divorce from Maya Polsky, $184 million.[7]
- Michael Jordan's divorce from Juanita Jordan, $168 million [8]
- Boris Berezovsky's divorce from Galina Besharova; estimated at $160 million.[9]
- Neil Diamond's divorce from Marcia Murphey; estimated at $150 million.[10]
- Frank McCourt's divorce from Jamie McCourt; estimated at $130 million.[11]
- Greg Norman's divorce from Laura Andrassy; estimated at $103 million.[12]
- Steven Spielberg's divorce from Amy Irving; estimated at $100 million.[13]
- Madonna's divorce from Guy Ritchie; estimated at $76–$92 million.[14]
- Kevin Costner's divorce from Cindy Silva; estimated at $80 million.[15]
- Kenny Rogers divorce from Marianne Rogers; estimated at $60 million.[16]
- James Cameron's divorce from Linda Hamilton; estimated at $50 million.[17]
- Paul McCartney's divorce from Heather Mills; estimated at $48.6 million.[18]
- Michael Douglas' divorce from Diandra Douglas; estimated at $45 million.[17]
- Ted Danson's divorce from Casey Coats; estimated at $30 million.[19]
- Donald Trump's divorce from Ivana Trump; estimated at $25 million.[20]
- Lionel Richie's divorce from Diane Richie; estimated at $20 million.[17]
- Johnny Carson's divorce from Joanna Holland; estimated at $20 million.
- Mick Jagger's divorce from Jerry Hall; estimated between $15 and $25 million.[17]
"American Pie" singer and songwriter Don McLean and his wife have finalized their divorce and agreed to a $10 million settlement.Don McLean
A spokesman for McLean said Monday that the singer "chose to ignore a premarital agreement" and provide the settlement.
McLean's wife Patrisha, an author and photographer, filed for divorce citing "adultery, cruel and abusive treatment, and irreconcilable differences" in legal papers.
The couple had been married for about 30 years. They have two adult children
SAUDI BILLIONAIRE AND FORMER MODEL SETTLE $100 MILLION DIVORCE
“[Anything more] would drive this case into fantasy territory.”
By Dan Kitwood/Getty Images.
The union between Christina Estrada and Sheikh Walid Juffali will never achieve the happily-ever-after potential that the love story between the Pirelli calendar model and the Saudi billionaire promised. But there is no question that Estrada walked away with a fairy-tale divorce. Her lawyers said she was awarded a £75 million, or about $100 million, settlement—a £53 million cash payment and £20 million of her own assets. They called this the “largest needs award ever made by an English court,” according to the BBC.
Estrada said in a statement that she is extremely grateful for the settlement, but even a lump sum of more than £50 million is a letdown compared to the £238 million she had initially asked for from her ex-husband, whom she claimed is worth £8 billion (a fact he flatly denied). Estrada testified in court that she needed £1 million a year for clothes—a sum made up of £109,000 for couture dresses, £40,000 for fur coats, and £21,000 for shoes, according to The Guardian. She also reportedly had budgeted £58,000 for two super-special handbags every year, £23,000 for six more casual, knock-around bags, and £35,000 on 10 clutches annually. There was also travel factored in—£2.1 million in total, including £600,000 for private aviation—and, of course, real estate. Estrada said she required enough support to maintain a home worth around £60 million in London and a £4.4 million home in Henley-on-Thames. For her cell-phone bill, she asked for £26,000 a year, and £495,000 for five cars, according to The Guardian.
At the time, Estrada told the London court, “I have lived this life. This is what I am accustomed to. It is difficult to convey the extraordinary level of luxury and opulence we were fortunate enough to enjoy.”
After 12 years of marriage and having a daughter together, Estrada’s opulent life all changed in 2014, when, without her knowledge, the sheikh divorced her in Saudi Arabia under Islamic law. Two years earlier, he wed a 25-year-old Lebanese model with whom he has two children while he and Estrada were still married. The Guardian reported that Juffali could not attend the court proceedings because he is being treated for advanced lung cancer. In a statement, he said he had left the bulk of his fortune to his three oldest children, including his daughter with Estrada.
“[Awarding] £53 million to a lady who has £20m [in her own assets] is an astonishing amount of money,” his lawyer said. “[Anything more] would drive this case into fantasy territory.”
In her own statement to The Guardian, Estrada called the process “incredibly bruising and distressing” and that she had wanted to resolve the matter amicably after she found about the second wife and divorce.
“I never wanted to be here,” she said. “Having grown up in a middle-class family and having enjoyed a successful career until my marriage, I am fully aware that the spectacular life Walid and I led was immensely fortunate and rarefied. And I fully understand how this can be perceived in the wider world.”
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