When it comes to divorce, dividing assets can be one of the most complicated and divisive issues. This is especially true for couples who have a high net worth or are business owners. The public divorce of the CEO of Citadel and his wife was of interest to not only divorce tabloids, but business journals who were concerned about what it meant for the future of the hedge fund Citadel.
This is why the CEO's business assets division in his divorce was of such concern to investors and business partners. His now ex-wife, Ann Diaz Griffin, is a multi-millionaire in her own right and brought her own assets to the table for division. Much of the details of the agreement were not disclosed, however, it was reported that a pre-nuptial agreement was signed and that it did stand at the time of the asset division. It was also reported by the Wall Street Journal, that Diaz will receive child support beyond the norm of state law.
It sounds like Diaz may be collecting an above-average sum for child support, meaning that she will likely have physical custody of the children. Because a pre-nuptial agreement was upheld, it seems that Citadel business assets were likely not considered marital property in the asset division. However, because Citadel is a privately-owned company, this is not certain because the details of the divorce settlement are not publicly available.
The couple chose not to take their divorce case to trial. This could be due to a few reasons; it is likely that the couple did not desire any further media attention. It appears that the finances have been settled and the children will be a part of a shared custody arrangement with Diaz receiving child support.
While Griffin's divorce involved far more assets than are stake in most divorces, it is a reminder that business assets may be subject to a divorce settlement, especially if there is no pre-nuptial agreement in place and if the business was created during the marriage.
Source: bizjournals.com, "Ken Griffin, Ann Diaz Griffin reach divorce settlement," Oct. 7, 2015