Edited by: www.TJVNews.com
Tragically, when marriages end in divorce acrimony reigns supreme, but in the case of well-heeled folks, matters can get quite complicated. According to a report in the New York Post’s “Page Six” it appears that Stephen Ross, the owner of the Miami Dolphins football team and the Hudson Yards complex in New York City is facing some formidable challenges as he is in the midst of a divorce from his jewelry designer wife Kara, after 18 years of marriage.
While making an attempt to privately sort out the details, they couple finds themselves embroiled in an $8 billion divorce settlement.
Ross, 80, is the founder of Related Companies (one of the largest real estate companies in the United States) and is also an investor and majority stakeholder in such companies as Equinox and SoulCycle. As a long time friend of Donald Trump’s, Ross threw a $100K a seat fundraiser for him in the Hamptons in 2019.
The Post reported that Related is said to have developed or acquired more than $60 billion worth of properties from California to Shanghai, including a large amount of affordable housing.
In a joint statement sent to Page Six, the couple provided confirmation of their impending divorce and said, ““We have deep love and respect for each other. We will continue to be a part of each other’s lives and support what is best for the health and happiness of our family.” They each have two children from previous marriages.
Sources close to the couple have said that while divorce papers have not been filed, they have both retained prominent New York matrimonial attorneys to handle their case.
According to the Page Six report, Ross is being represented by William D. Zabel from Schulte Roth & Zabel, whose famous clients have included billionaire George Soros, golfer Greg Norman and Howard Stern. Kara is represented by Judith Poller at Pryor Cashman, who has previously handled cases for Drew Barrymore and Scarlett Johansson.
At present, the couple are no longer living under the same roof and have separate residences. Page Six has reported that Ross is worth between $7 and $8 billion and that the couple signed a pre-nuptial agreement back in 2003 when they married.
The Post also reported that the Ross divorce could possibly be one of the most expensive marital splits in New York. The paper cited a legal source who is not involved in the Ross case who speculated that Kara’s settlement “could likely start at $100 million and go north to $200 or $300 million.”
Another insider told the Post that Ross’ business holdings such as his ownership of the Miami Dolphins football team and his Related Companies would not be adversely affected by the divorce. The source added that Kara would likely receive a sizeable sum of money.
Ross acquired 95 percent of the Dolphins for more than $1 billion in 2008 and 2009.