Michael Fuchs is the co-owner of the Chrysler Building in New York, and he is heading for divorce. The billionaire owns a considerable amount of midtown Manhattan real estate, which means that his divorce could have a very real impact on New York’s real estate world. Fuchs’ former spouse is Alvina Collardeau-Fuchs, who is now claiming that she was subjected to considerable controlling measures by the real estate tycoon.
How Much Money is on the Line?
Michael Fuchs’ net worth is $1.7 billion, which means that his former spouse could walk away with a considerable amount of cash. He also co-owners RFR Holding LLC, which is an extremely active real estate company in New York and Manhattan. Michael and his business partner Aby Rosen co-own the Chrysler Building, the Seagram Building, and many other well-known landmarks in the area. Prior to the news of this divorce, Fuchs’ net worth was unknown, and he kept an extremely low profile.
The Divorce is Being Handled in London, England
One of the key factors of this divorce is its location. The case is being heard in London, England, which has long been established as a target destination for divorcing spouses. This is because courts in London are known around the world for being extremely sympathetic toward “receiving” spouses, and wealthy business owners have been forced to pay considerable settlements by these courts in the past.
One of the world’s biggest divorces ever is now being heard by courts in London, and it involved Russia’s second-richest man, Vladimir Potanin. Although Fuchs’ net worth is not quite at this level, his divorce is part of a larger trend, with more and more spouses seeking to navigate London divorce courts in an effort to receive a larger settlement from their wealthy former partners. Despite London having a reputation for “divorce tourism,” it makes sense for Fuchs’ divorce to be heard in this location. He and his wife moved to London in 2016 with their children and have lived there for many years.
Court documents show that Alvina has hurled various complaints in Michael’s direction. She has accused him of controlling her spending to an unreasonable level, resulting in “intolerable” living conditions. She also stated that her husband tended to ignore utility bills, resulting in debt collectors showing up at her doorstep. There is no question that Alvina enjoyed an extremely high standard of living prior to the divorce, as they owned several homes throughout the world and traveled extensively.
Fuchs’ Side of the Story
In contrast, Fuchs claims that his former wife’s spending was completely out of control prior to the divorce. He stated that she once spent $1 million during a four-month vacation in Dubai, and that she typically spent about $200,000 per month toward the end of their marriage. This caused him to impose a spending limit of $25,000 per month on his wife, to which she objected.
Could this divorce result in the liquidation of properties in Manhattan? We will have to wait and see.