Not Everyone Feels The Pinch Of The Slow Economy
MSNBC reports that in the divorce of Sweedish countess Marie Douglass-David, and former CEO George David, $43 million doesn’t go very far. The couple married in 2002, but the marriage was already in trouble in 2004. In October of 2005 they signed a postnuptial agreement that would give Douglas-David $43 million if/when they divorced. However, Douglass-David is now claiming she can not live on that amount as she has $53,800 in weekly, yes, I did write WEEKLY, expenses. She has asked the court to invalidate the agreement claiming she was coerced into signing it.
So what does $53,800 in weekly expenses consist of? According to MSNBC, “Douglas-David has filed court papers showing she has more than $53,800 in weekly expenses, including for maintaining a Park Avenue apartment and three residences in Sweden. Her weekly expenses also include $700 for limousine service, $4,500 for clothes, $1,000 for hair and skin treatments, $1,500 for restaurants and entertainment, and $8,000 for travel”. I need a moment to consider what it would be like to spend $4,500 a week on clothes.
George David former CEO of United Technologies Corp., has an estimated net worth of over $300 million. The divorce trial is set to begin next week, which should be interesting since each spouse is accusing the other of extramarital affairs.
I think Douglass-David has a lot to lose contesting the postnuptial agreement. The marriage only lasted seven years. In addition, Douglass-David is 36 years old and prior to the marriage earned a living as an investment banker. Clearly she’s capable of working, if she actually did manage to burn through the $43 million. David is 67 and stepped down last year as chief executive at United Technologies Corp., although he is still chairman of the board, so his income stream has dropped significantly. David does have a huge net worth, but most of it was probably accumulated before he married Douglass-David. If the evidence shows that the marriage ended because of Douglass-David’s infidelity, she could walk away from the marriage with significantly less that $43 million.