Paul McCartney is all settled up with his ex-wife Heather Mills, and though you’d imagine $48.6 million changing hands in a divorce proceeding would put a damper on a man’s fancy come springtime, no one should be surprised that Sir Paul won’t be emergency stocking-up at Big Lots this weekend to see him through the fallow early days of studio-apartment bachelorhood. Look upon his post-settlement bank balance, ye white-collar workers, and despair.
1. The fundamental issue was what financial provision should be made for Ms. Mills. She sought an award of almost 125 million pounds ($250 million). Sir Paul proposed that the wife should exit the marriage with assets of 15.8 million pounds ($31.6 million) inclusive of any lump sum award.
2. The judge decided that the husband should pay the wife a lump sum of 16.5 million pounds ($33 million) which together with her assets of 7.8 million pounds ($15.6 million) (which include her current properties) means that she exits her marriage with total assets of 24.3 million pounds ($48.6 million) inclusive of a deemed figure of 500,000 pounds ($1 million) referable to her overspending in the period of separation.
3. The judge found that the total value of all the husband’s assets, including his business assets, was about 400 million pounds ($800 million). There was no evidence at all before him that he was worth 800 million pounds ($1.6 billion)…
7. The lump sum of 16.5 million pounds ($33 million) is made up of a sum of 14 million pounds ($28 million) as the capitalized figure for the wife’s income needs, which the judge assessed at 600,000 pounds ($1.2 million) per annum, and a sum of 2.5 million pounds ($5 million) for the wife to buy a property in London.
8. Financial provision for Beatrice consists of a periodical payments order of 35,000 pounds ($70,000) per annum, the husband agreeing to pay for her nanny and her school fees.
Which calculates roughly as: $800 million minus $48.6 million = he can still afford to pay for your date. Get cracking, ladies/gents who look convincing enough in drag to pull one over on a sixtysomething rock icon.