Ayesha Vardag commented on the Daily Mail’s reports that Google executive chairman Eric Schmidt was selling 2.4million of his shares in the tech behemoth to fund his divorce from his wife Wendy. It is believed that Mr Schmidt has given a quarter of his $2.6 billion fortune to his wife of 13 years.
Ayesha explained that, under Californian law, everything earned during the marriage would be split equally between the parties. She said “The principle is known as community property and it is fairly cut and dried - anything earned by either party during the marriage is split down the middle.
’The biggest thing that will be argued about in a divorce like this is not so much the proportion of a husband’s money but what is in the pot.
’Liquidity will be a big issue and he will either have to borrow against the value of his stocks in Google or sell them, which would be destabilising for him and the company.
’I would be advising Mr Schmidt to get a realistic assessment about the worth of Google whilst trying to make the assessment it as conservative as possible - and keep things civilised.
’If he has a pre-nup, which are valid in California, it will significantly limit the amount his wife is entitled to.”
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