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Spitzer to Pay Big Bucks in Divorce Settlement

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Eliot Spitzer's ex-wife Silda will get $7.5M and $240K per year for life.
Eliot Spitzer’s ex-wife Silda will get $7.5M and $240K per year for life.
On March 10th 2008 the New York Times ran a story alleging that Eliot Spitzer had paid about $15 thousand for prostitution services over the previous seven months. The impending scandal would later expand those numbers to over 80K spent over several years.

When all this broke it was only a matter of time before Spitzer’s political career would be derailed as he eventually resigned as Governor two days later on Marh 12. Although his political career was going up in flames his humiliated and betrayed wife Silda was willing to stand by his side. That was until pictures and rumors surfaced last year that Spitzer had a girlfriend, 31 year old political publicist Lis Smith.

The final costs for Spitzer’s dalliances will now far exceed $80 thousand he gave multiple call girls through the years, after the finalization of Spitzer’s divorce. Spitzer will pay a lump sum payment of $7.5 million over seven years with the fist payment of $1 million to come by June 30th. In addition to the lump sum payments Spitzer will be obligated to pay $20K per month to keep her in the lifestyle she is accustomed to.

While the terms of the postnuptial agreement may seem exhorbitant but appropriate, for Spitzers trangressions Spitzer, 54 should have nio problem making the required payments. Spitzer, is the son of ailing real-estate magnate Bernard Spitzer.  Bernard Spitzer’s  fortune is estimated at more than $500 million. Eliot further promised to “use his best efforts” to ensure that now ex-wife Silda gets to stay in their Fifth Avenue apartment at no cost to her, or else move her to “a replacement residence of similar size, location and quality.” The deal remains in effect even if Silda starts living with someone, but she has to give up her maintenance payments and pay “all the occupancy expenses” for the apartment if she remarries.

Spitzer had real-estate holdings valued at up to $46 million as of the date of the agreement, Sept. 4 2013. The agreement was finalized this February. He reported adjusted gross income of $4,268,000 for 2012, while Silda’s was $112,000.

Spitzer tried to resurect his political career by jumping into the city comptroller race, ironically this is where he met Smith who served as his spokeswoman during the failed campaign. Spitzer lost the Democratic nomination for Comptroller to Manhattan Borough President Scott Stringer who eventually was elected to the position.

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