A UK court-ordered Sheikh Mohammed Bin Rashid AL-Maktoum, the United Arab Emirates Prime Minister and Ruler of the Emirate of Dubai, to pay his ex-wife Princess Haya Bint AL-Hussain 550 pounds ( Rs 5529.21 crores). It has been considered the largest divorce settlement in the country history.
The reported figures pale in comparison to some other businessmen across the world, tycoon Jeff Bezos’ 2019 took divorce from his wife “MacKenzie Scott by giving her $38 billion, media mogul Rupert Murdoch’s 1999 divorce from Anna Maria Torv worth $1.7 billion. Russian businesspeople Dmitry Rybolovlev’s 2014 divorced Elena Rybolovleva with a settlement of $4.5 billion, later reduced to $609 million.
The Sheikh AL-Maktoum-Princess Haya settlement is part of a more significant trend of “divorce tourists” who see the United Kingdom as an ideal asset-splitting destination than their home nations.
“In comparison, Russian divorce courts are unable to deal with assets that are not owned legally by a spouse, meaning that for billionaires with millions of pounds in trusts, only a portion of their fortune is taken into account in any judgement,” according to the telegraph.
Before Sheikh AL-Maktoum-Princess Haya, the most expensive divorce settlement in UK legal history was between Azerbaijaniorigin, Russian millionaire Farkhad Akhmedov and his estranged wife, Tatiana Akhmedova.
The settlement between Sheikh AL-Maktoum and Princess Haya comprises a 251.5 million pounds payment, compensation for the couple’s two children, and a 290 million pounds bank guarantee for annual revenues.
In a written petition, the daughter of King Hussein of Jordan “Princess Haya “and her children argued that they also have some security issues.
Sheikh Al-Maktoum was held not only responsible for the abductions but also for threatening princess haya and her children said court fact findings.