As it turns out, managing a successful hedge fund can be fatal to your marriage. And when hedge fund marriages blow-up, they tend to blow up big, according to the Financial Times’ Brooke Masters.
“The flood of cash into so-called hedge fund communities in New York, Connecticut and California has proved fatal to many marriages — and a windfall for lawyers, psychiatrists and forensic accountants who specialize in the superrich,” Masters writes.
The divorce’s tend to be contentious affairs because of the high stakes involved, Scott Weston, a Los Angeles matrimonial lawyer, tells Masters.
"People are fighting for their ultimate rights. They're not satisfied with $20 million, $30 million. They want half. Why not spend a couple more million dollars [on lawyers] to get $20 million more?" Weston says.
The story has some good dirt, including on hedge fund divorcee who demanded $800k a month in child support from her former spouse to supplement her $7 million a year income. She eventually had to settle for an extra $100k a month. And a lifetime of sorrow.
When Wall Street couples cash out [Financial Times via Los Angeles Times. Hat tip: Crossing Wall Street]
Posted by whats up?, Jun 19, 2007 3:27PM
On this subject....have you noticed Maria Bartiromos' lack of band on ring finger? Sup?