Hedge fund billionaire John Paulson is divorcing his wife, Jenny, after more than 20 years of marriage, in what is anticipated to be one of the costliest and most hotly contested breakups of all time.
Paulson, 65, who made his fortune when he bet against the American housing market ahead of the 2008 financial crisis, is said to have no prenuptial agreement, which could have protected his assets in the event of a divorce.
According to some conservative estimates, Paulson has a net worth of more than $4.8billion, along with an impressive real estate portfolio, which includes multimillion-dollar properties in Manhattan, the Hamptons and Aspen, Colorado.
As Page Six first reported, Paulson cited 'irreconcilable differences' as the cause of his split from 50-year-old Jenny Paulson, according to documents filed in Suffolk County County Court on Monday.
'Clash of the titans': Hedge fund billionaire John Paulson and wife Jenny are divorcing after more than 20 years of marriage, setting the stage for an epic legal showdown
Jenny and John Paulson have two teenage daughters, Giselle and Danielle (pictured as a family)
John and Jenny Paulson have two teenage daughters, Giselle and Danielle.
One anonymous source was quoted by the paper as describing the impending legal showdown between the former power couple as 'the clash of the titans,' led by some of New York's most prominent divorce lawyers.
Paulson has retained attorney William Zabel, who has represented a string of rich and famous clients, including George Soros an Howard Stern.
'John has deep respect for Jenny and will continue to support all that is best for the health and happiness of the family,' Zabel said in a statement on Tuesday.
Meanwhile, Jenny Paulson is said to be in talks with Robert Cohen, who had shepherded an equally impressive lineup of celebrities, among them Ivana Trump, Uma Thurman and Michael Bloomberg, through their high-profile divorces.
Cohen was most recently working with Melinda Gates on her divorce from billionaire Microsoft co-founder Bill Gates, which was announced earlier this year.
The Paulsons have multibillionaire-dollar real estate portfolio, including this elegant $14.7million townhouse on Manhattan's Upper East Side
The Paulsons also own a sprawling estate in Southampton, New York, called Old Tress, which was obtained for an eye-popping $41million in 2008
Paulson bought an apartment in Olympic Tower in Midtown, closer to the offices of his hedge fund, for $2.9million in 2010
Paulson married Jenny, his former assistant, in 2000. She is a Romanian immigrant
The unnamed source told Page Six that the Paulsons have been living separate lives for the past 15 years, despite sharing a 28,000-square-foot townhouse on East 86th Street on Manhattan's Upper East Side, which they purchased for
