Posts Tagged ‘money’

Russell Simmons Explains Child Support

February 27th, 2009

In light of reports that surfaced on Friday stating Russell Simmons, 51, was ordered to pay his ex-wife, Kimora Lee Simmons, $40,000 a month in child support, the entrepeneur has taken to his blog, calling the decision his own.

 

"I am reading these stories today about how a judge ordered me to pay Kimora $40,000 a month in child support and I want to make something very clear. Nothing was ordered, it was given. My kids have a fabulous life; they are exposed to a broad range of artistic and scholastic educational programs and I’m very happy to contribute to that. As long as I have it, they can have it. If I ever don’t have it, I’m coming to live with them!"

-Russell Simmons

According to E!, Kimora Lee was granted sole legal and physical custody of their two daughters, 9-year-old Ming and 6-year-old Aoki in the settlement, with Simmons paying child support until the girls reach 19 1/2 years of age.

 

In exchange for his bankroll, and on top of his visitation, Simmons will have custody of the girls every eighth week during the school year and on a handful of holidays.

Madonna & Guy Settle Divorce

December 15th, 2008

Only a few months after announcing their split, Madonna and Guy Ritchie have reached a settlement in their divorce, according tothe singer’s spokeswoman.

 

The Rock ‘n’ Rolla director will be walking away from his marriage to the Material Girl with a hefty sum, "at least" 50 million pounds or $76 million, rep Liz Rosenberg tells the Associated Press. The twosome had an estimated worth of $525 million, with Guy holding his own fortune of $35 million.

 

CLICK HERE for OK!’s Ultimate Madonna gallery!

 

”I’d assume it’s one of the largest payouts ever in a divorce settlement,” Rosenberg says of the agreement, which tops even the amount paid to Heather Mills by Paul McCartney.

 

While details have yet to be released regarding the custody arrangement for children Rocco and David Banda, Guy will get the couples’ country home as well as their London pub, the Punchbowl.

 

Drinks on Guy, everyone!

Brit Pays Big for Sanity

July 31st, 2008

The last year has seen many changes in the life of Britney Spears.

Most of the focus centered on the custody battle over her two beautiful boys with ex Kevin Federline and the long standing conservatorship over her person and estate that, thanks to her father Jamie Spears, has slowly helped the singer,26, regain and stabilize her mental health.

While most will agree Brit’s conservatorship is necessary to keeping her healthy, it has not been without a heavy price — literally.

In the last five months, Britney has paid $724,109 in attorneys fees to Andrew Wallet, Sam Ingham, Luce Law Firm and Stacy Phillips and to her father, who to date has made aproximately $37,500 acting as his daughter’s conservator.

And that’s just her conservatorship case. Brit’s also had to shell out money for her separate custody case (Remember, Brit paid both K-Fed’s lawyers and her own).

A source close to the case estimates that Britney has paid Mark Vincent Kaplan roughly $745,000 as well as over $1 million to a rotating door of attorneys who acted as her counsel.

When you add all that money together, the total number equals out to just under $2,500,000 that Britney has paid to attorneys in the last year.

AD FPO