Citing an irretrievable marital breakdown as the result of irreconcilable differences, Kenneth Griffin recently filed for divorce in another state. This filing was not entirely unexpected, as the couple had been separated for over a year. However, his wife was unaware of his intention to file for divorce while she took their three children on a summer vacation. This high net worth divorce will likely catch the attention of many residents in Texas. This was Kenneth’s second marriage, while it was his wife’s first.
Ranked at number 274 on the list of the richest people in the world as reported by Forbes, Kenneth Griffin is estimated to be worth $5.5 billion. Kenneth and his soon to be ex-wife Dias, ages 45 and 43 respectively, are both philanthropists and money managers. Kenneth is the chief executive officer of Citadel LLC, and his wife is Aragon Global Management’s founder and managing partner.
The couple got married in 2003 and all property related issues are governed by a premarital agreement that was signed prior to their marriage. In the divorce filing, Griffin stated that it would be impractical to attempt reconciliation and added that it would not serve the best interests of the family. He seeks joint custody of their three children whose ages range from 2 to 6.
As in this high net worth divorce, Texas couples who plan to get married may want to have discussions about all financial matters and future financial expectations. Although it may seem unromantic to have such discussions while madly in love, by considering what may be important in the event of a divorce, couples may avoid future litigation. By obtaining professional assistance for both parties, a prenuptial agreement to cover all eventualities could be drafted and signed. With such an agreement in place, couples may have peace of mind and be able to enjoy building a successful marriage.
Source: Chicago Tribune, "Hedge fund billionaire Ken Griffin files for divorce", Becky Yerak, July 24, 2014