Stephen M. Ross, the man behind New York’s Hudson Yards and the owner of the Miami Dolphins, is set to lose a large chunk of his net worth as he and his wife of eighteen years are divorcing.
The real estate developer is embroiled in an $8 billion divorce with his jewelry designer wife.
Page Six says the two are currently quietly negotiating a divorce. The 80-year-old, who is said to be worth between $7 billion and $8 billion, does have a pre-nuptial agreement in place.
“The former couple confirmed their split in a joint statement to Page Six: “We have deep love and respect for each other. We will continue to be a part of each other’s lives and support what is best for the health and happiness of our family.” They each have two children from previous marriages.
Sources say that while the pair has not yet formally filed any divorce papers, they have both hired prominent New York divorce attorneys.
Stephen is being represented by William D. Zabel from Schulte Roth & Zabel, whose famous clients have included billionaire George Soros, golfer Greg Norman and Howard Stern. Kara is represented by Judith Poller at Pryor Cashman, who has previously handled cases for Drew Barrymore and Scarlett Johansson.
A legal source not involved in the Ross case speculated the divorce settlement Kara could win “could likely start at $100 million and go north to $200 or $300 million — making this one of the most expensive divorces in New York.”
Another insider said that while Kara would get a sizeable settlement, Stephen’s ownership of the Miami Dolphins and Related Companies would not be split.
The insider said, “His business holdings will not be affected by the divorce.”
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Ross acquired 95 percent of the NFL’s Miami Dolphins for more than $1 billion in 2008 and 2009.
