Billionaire real estate developer Stephen M. Ross, the man behind New York’s Hudson Yards and owner of the Miami Dolphins, is engaged in an $ 8 billion divorce with his 18-year-old jewelry wife Kara.
Page Six has just learned of the founder of Related Companies – who also owns Equinox and SoulCycle – and his wife Kara have separated and are currently quietly negotiating a divorce.
Sources close to Ross – a lifelong friend of Donald Trump who caused a furor by launching a 100Ka-seat fundraiser for the then president in the Hamptons in 2019 – insists the split is friendly.
Ross, 80, is worth $ 7 billion to $ 8 billion, but we are told there is a pre-nuptial agreement between the couple, who got married in 2003.
The former couple confirmed their split in a joint statement on Page Six, “We have a deep love and respect for each other. We will continue to be a part of each other’s lives and support what is best for each other. health and happiness of our family ”. They both have two children from previous marriages.
Sources say that although the couple has not yet formally filed any divorce documents, they have both hired prominent divorce lawyers in New York.
Stephen is represented by William D. Zabel from Schulte Roth & Zabel, whose famous clients include billionaire George Soros, golfer Greg Norman and Howard Stern. Kara is represented by Judith Poller to Pryor Cashman, who has already handled cases for Drew Barrymore and Scarlett Johansson.
A legal source not involved in the Ross case speculated that the divorce settlement that Kara could earn “could start at $ 100 million and go north up to $ 200 or $ 300 million – making this one of the most expensive divorces.” in New York “
Another insider said that while Kara would get an important settlement, Stephen’s property of the Miami Dolphins and Related Companies would not be shared.
The insider said: “Their business ownership will not be affected by the divorce.”
Stephen began as a tax attorney before founding Related Companies in 1972, and his Hudson Yards development on the west side of Manhattan opened in March 2019. Related is said to have developed or acquired more than $ 60 billion in property. from California to Shanghai, including large amounts of affordable housing.
Ross acquired 95 percent of the NFL’s Miami Dolphins for more than $ 1 billion in 2008 and 2009.
Kara Ross, 54, born Gaffney, is a star jewelry maker including Michelle Obama, Oprah Winfrey and Anne Hathaway.
Of course, the couple has an impressive real estate portfolio. They share an attic at the Related Time Warner Center that dominates Central Park presented at Architectural Digest in 2015. The penthouse boasts a 42-foot-long living room, marble floors, a large art collection and five bedrooms.
There is also a 10,000-square-foot mansion in Southampton and its Palm Beach, Florida, oceanfront mansion, known as “The Reef,” an architectural gem for which Ross would have paid $ 31.8 million. dollars in 2008.
Meanwhile, Stephen is concentrating on running for mayor of New York and raising “tens of millions of dollars” to get New Yorkers to vote in the next Democratic primary for mayor.
He recently invited New York business leaders to a March 15 lunch meeting to discuss what he called “the most important election in our lives and in New York history.”
Ross said the winner of the June Democratic primary will “decide whether NYC will retire or languish” and that he will form a committee to raise money for a major effort to guide voter turnout.
New York business leaders want to elect a moderate mayor to lead the recovery of the pandemic after feeling shocked by Bill de Blasio, who will leave his post after two terms.