The High Court in London (PA)
(Picture: PA Archive)A billionaire who co-owns New York’s Chrysler building has been ordered to pay his estranged wife around £3.5m a year amid an ongoing divorce battle.
Property developer Michael Fuchs, 62, is embroiled in an expensive row over money with his ex-wife Alvina Collardeau-Fuchs, a 46-year-old former journalist originally from France.
A High Court hearing revealed details of the couple’s “extremely high standard of living” with use of properties around the globe including properties in west London, the French Riviera and a penthouse in Miami.
On Monday, the court ruled Mr Fuchs must pay his wife the annual sum while legal proceedings related to the separation are ongoing.
Mr Fuchs, who is estimated to be worth around £1.2bn, married Ms Collardeau-Fuchs in 2012 and the couple had two children together before separating in March 2020.
Mr Justice Mostyn ruled Mr Fuchs would have to pay "an approximate annual rate of £3.64 million" until a final decision regarding financial settlement is made which is due in October.
The judge said: “The parties employed a significant number of staff at the West London property… And in their other properties.
“It is agreed that the parties would spend a great deal of time travelling, typically by private plane or first-class commercial flights, and staying in high-end hotels or villas at significant cost.”
The couple employed two rota chefs, a house manager, two or three housekeepers, and a laundress at the property, the hearing revealed.
In 2019, the year before the split, the couple were spending around £900,000 a year in “global annual living costs”, said the judge.
The pair had signed a prenuptial agreement after marrying in 2012 which according to Mr Fuchs would have given his ex net capital of £23.5 million plus 18 years of rent-free accommodation at the west London home.
Ms Collardeau-Fuchs had complained shortly after separation that he “almost immediately reduced the provision he was making for her”, states the ruling.
Mr Fuchs said he had attempted to contain his wife’s “profligate” spending and impose “some financial discipline”.
Ruling, Mr Justice Mostyn said: “The husband’s overall liability under my order will therefore be at an approximate annual rate of £3.64m”.
The payments will continue until the conclusion of a final substantive hearing which is currently scheduled for October 10.
