Robert De Niro’s ex-wife Grace Hightower will not receive half of the actor’s alleged wealth, an appeals court has ruled.
It was previously revealed that Grace’s average monthly spending was $ 215,000 per month on credit cards and $ 160,000 in cash. Robert’s attorney, Caroline Krauss, claimed the financial pressure meant the actor was strapped for cash.
The socialite, 66, argued that the Godfather star’s reported net worth of $ 500 million should be split evenly as these are “marital assets” under a prenuptial agreement reached in 2004.
Bitter: Robert De Niro’s ex-wife Grace Hightower will not receive half of the actor’s “$ 500 million” wealth …
However, his proposals were rejected by the Appeal Division, which upheld a lower court ruling in February 2021.
The court ruling said: “The husband’s income earned during the marriage and other business assets acquired during this period are his separate property.”
Despite this, the Nobu co-founder will continue to pay his wife $ 1 million a year until one of them dies – or remarries – in child support.
Grace is expected to pocket millions of dollars from the marriage contract, which will force Robert to sell their $ 20 million home in order to free up $ 6 million of equity.
Wow! Despite this, the Nobu co-founder will continue to pay his wife $ 1 million a year until one of them dies – or remarries – in child support (photo from 2017)
The socialite, 66, argued that the Godfather star’s fortune should be split evenly because they are “marital assets” according to a prenuptial agreement reached in 2004 (pictured in 1998)
This will allow the philanthropist to purchase her own property in which she will live with their two children Elliot, 23, and Helen Grace, nine.
The spouses have been locked in a divorce battle since December 2018.
Robert and Grace married in 1997, separated in 1999, then got back together, renewed their vows in 2004 before filing for divorce in 2018.
Initially, the couple fought over custody of their youngest child, but now the arguments are over money and property.
Shocking! De Niro’s lawyer revealed the actor owed millions in unpaid taxes (pictured in 2020)
She said the coronavirus pandemic has caused work plans for the Hollywood star to dry up.
Months earlier, De Niro had won $ 5 million for starring in Martin Scorsese’s hit gangster film The Irishman. He also received “tens of millions of dollars” as part of a federal coronavirus relief program.
Hightower claims De Niro is worth $ 500 million, but his lawyer Caroline Krauss says his ex-wife’s extravagant lifestyle makes matters worse.
In 2019 alone, she reportedly spent $ 1.67million (£ 1.2million), mostly on a $ 1.2million (£ 860,000) diamond from a high-end jeweler from New York.
In addition to Grace’s growing financial demands, De Niro’s attorney has revealed that the actor owes millions in unpaid taxes. She said the proceeds from her next two films would be used to pay off that debt, which in 2015 turned out to be $ 6.4million (£ 4.6million).
Naturally, the Hightower camp did not take all of this sitting down. Her lawyer, Kevin McDonough, countered that her client owed payments to “maintain the status quo” she enjoyed with De Niro during their marriage.
Before that, he was married to actress Diahnne Abbott, but the couple divorced in 1988.
Robert has six children; Drena, 49, Raphael, 44, Helen Grace, Elliot, Julian Henry, 25 and Aaron Kendrick, 25.
Rocky: Robert and Grace married in 1997, separated in 1999, then got back together, renewed vows in 2004 before filing for divorce in 2018 (pictured in 2014)