As many California residents might know, a divorce typically provides life-changing implications for a couple. Two people who were once living in close proximity are now separated with lasting, sometimes, detrimental, effects to each partner's financial situation. For instance, if a divorce involves children, then issues involving child support and visitation must be settled. Alimony or spousal support is also another financial issue to be decided with a deeper impact if this financial determination involves a high-profile couple with high marital assets.
Such is the case for taxi magnate, Gene Friedman, who has a much younger wife who recently filed for divorce by saying that she is too young for him. The couple separated nearly two months ago with Friedman spending long hours building and maintaining his taxi business and his 24-year old Russian-born wife spending her time enjoying life out on the town, according to sources. Divorce proceedings will most likely focus on alimony since Friedman has a fleet of more than 900 yellow medallion cabs.
The duo signed a prenuptial agreement that provides the wife a $5 million divorce settlement. However, according to reports, the wife has hired an attorney with a reputation for aggressive divorce negotiation. But divorce papers have not yet been filed. The couple has a young daughter whose needs must be considered during negotiations. Friedman's assets include a home valued at $4.8 million and a business that has an unknown value due to some financial problems.
The taxi kingpin reportedly has a large debt load and a private bank forced the sale of some business assets to recover millions in business loans. His wife is a freelance journalist who writes a website called "The Uptowner." These issues may prove to make settlement of this divorce an interesting legal battle.
Source: New York Post, "Taxi kingpin's decades-younger wife files for divorce," Julia Marsh and Rebecca Harshbarger, Apr. 8, 2015