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Court ordered Dubai ruler to pay ex-wife $700M in divorce settlement

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According to AP, a British court on Tuesday ordered the ruler of Dubai to pay his ex-wife and their children close to 550 million pounds ($730 million), in one of the most expensive divorce settlements in British history.

The High Court said Sheikh Mohammed bin Rashid Al Maktoum must pay 251.5 million pounds to his sixth wife, Princess Haya Bint Al Hussein, and make ongoing payments for their children Al Jalila, 14, and Zayed, 9, underpinned by a bank guarantee of 290 million pounds.

The total amount the children receive could be more or less than 290 million pounds, depending on factors including how long they live and whether they reconcile with their father. The settlement includes 11 million pounds a year to cover security costs for Princess Haya and the children while they are minors.

Sheikh Mohammed, 72, is also the vice president and prime minister of the United Arab Emirates and a major horse breeder. The founder of the successful Godolphin horse-racing stable, he is on friendly terms with Queen Elizabeth II.

Haya, a graduate of Oxford University, is also a keen equestrian and competed in show jumping for Jordan at the 2000 Sydney Olympics.

A separate British family court judge ruled in October that Sheikh Mohammed had authorized the hacking of Princess Haya’s phone during their legal battle.

Sheikh Mohammed denied knowledge of the hacking.

The divorce bill eclipses the 450 million pound settlement awarded Tatiana Akhmedova in her 2016 split from Russian billionaire Farkhad Akhmedov, at the time cited as Britain’s most expensive divorce.

Tuesday’s settlement includes a holiday budget of 5.1 million pounds, an annual sum of just over 450,000 pounds for the children’s staff and around 275,000 pounds for their animals, including two ponies and a horse.

It is possible, but rare, for financial divorce settlements to be appealed in England.

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SourceAP
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