Tuesday, December 16, 2008

Madonna settles divorce for up to $92 million

NEW YORK (Reuters) – Madonna has paid her ex-husband British director Guy Ritchie up to 60 million pounds ($92 million) to settle their divorce after eight years of marriage, her spokeswoman said on Monday.

Liz Rosenberg said the singer, 50, had given Ritchie, 40, between 50 and 60 million pounds ($76 million and $92 million) as part of their divorce, which was granted by a British court on November 21.

She said that sum includes the couple's English country estate, Ashcombe, which is valued at about 20 million pounds ($30 million).

The couple's combined wealth has been estimated at about $525 million, but Madonna accounts for most of it.

Rosenberg said custody arrangements for the couple's children have not been finalized.

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