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Citadel billionaire Ken Griffin finalizes divorce settlement

One of the richest men in the country finally reached a settlement after divorce proceedings that lasted over a year. Most people in Colorado heard about Citadel's founder and owner Ken Griffin's divorce when it made national news because he and his ex-wife butted heads over the validity of the couple's prenuptial agreement. Griffin, who is said to be worth nearly $7 billion, avoided heading to trial in what might have been an attempt to keep his and his ex-wife's affairs out of the public eye.

Griffin, whose divorce was last discussed on this blog on March 19, 2015 ("Ken Griffin divorce heating up over child support payments"), founded Citadel in 1990. That was years before he married Anne Dias-Griffin. Prior to saying "I do," the couple both signed a prenuptial agreement that, in the event of a divorce, granted Dias-Griffin $1 million for every year that the couple remained married. That amount would be paid on top of a flat $22.5 million, as per the terms of the agreement.

It appears as though the validity of that agreement is no longer in question. Just prior to showing up in family court, the couple finally came to a mutually agreeable solution. The exact financial details were not immediately made available, but it was revealed the two now share joint custody of their two children. Additionally, Dias-Griffin might now be receiving the $1 million  monthly spousal support that she requested earlier on in the divorce process.

It is very common for business owners and wealthy individuals in Colorado to sign a prenuptial agreement before getting married. While most engaged couples do not expect to end up filing for divorce, preparing for that outcome can be one of the most important steps to protecting important and valuable assets that were gained through business ventures during the course of a marriage. Carefully drafted premarital agreements not only protect these types of assets and interests, but they can also ensure that the other party is appropriately provided for in the event that the marriage comes to an end.

Source: finalternatives.com, "Citadel's Griffin Reaches Settlement in Contentious Divorce", Oct. 8, 2015

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