Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Friday, January 12, 2018

Yachts, Estates, and an Entire Floor of the Plaza: How an Ugly $2bn Divorce Battle Between an 80-year-old New York Tycoon and His Wife of 60 Years Lays Bare the Fabulous (and Allegedly Tax-avoidant) Lifestyle Enjoyed by Uber-wealthy Real Estate Magnates

image from https://s3.amazonaws.com/feather-client-files-aviary-prod-us-east-1/2018-01-12/7b33361e-115f-43f3-83ab-d9e5db09565c.pngHarry Macklowe, 80, amassed his fortune through risky real estate transactions that included the purchase and subsequent sale of the GM building. Macklowe, who had been married to his wife, Linda, for sixty years, announced his decision to leave her for his 62-year-old French girlfriend. Throughout their marriage, Linda Macklowe cultivated one of the most highly-coveted and valuable art collections in the country, which is currently estimated to be worth in excess of $1 billion. Attorneys for Linda are arguing that the collection is worth far less. Harry’s attorneys insist that he is worth a negative $400 million, not billions of dollars as claimed. The ensuing legal battle promises to be both long and arduous.

See Sheila Flynn, Yachts, Estates, and an Entire Floor of the Plaza: How an Ugly $2bn Divorce Battle Between an 80-year-old New York Tycoon and His Wife of 60 Years Lays Bare the Fabulous (and Allegedly Tax-avoidant) Lifestyle Enjoyed by Uber-wealthy Real Estate Magnates, Daily Mail.com, October 11, 2017.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.) for bringing this article to my attention.

https://lawprofessors.typepad.com/trusts_estates_prof/2018/01/yachts-estates-and-an-entire-floor-of-the-plaza-how-an-ugly-2bn-divorce-battle-between-an-80-year-ol.html

Current Events, Estate Planning - Generally | Permalink

Comments

Post a comment