John and Jenny Paulson separated after more than 20 years of marriage, and he The latest split between billionairesWhich is set to reshape one of the world’s largest individual fortunes.
The New York Post, which previously reported on the divorce, said there was no premarital agreement.
“John deeply respects Jenny and will continue to support all that is best for the health and happiness of the family,” John Paulson’s attorney, William Zabel, said in a statement Tuesday.
John Paulson, 65, has a net worth of $4.8 billion, according to the Bloomberg Billionaires Index, thanks in large part to his successful betting against the US housing market before the 2008 financial crisis.
Jenny Paulson, 50, met John years before he became famous in the mortgage business.
He initially hired her as an assistant after she served him lunch and his staff from the Bear Stearns Cafeteria. A recent immigrant from Romania and granted political asylum in the United States, approaching his mid-forties, Paulson decided he needed to get married and that Jenny had the cheerful personality he was looking for.
Paulson made $20 billion for himself and investors when US mortgage bonds collapsed and triggered the financial crisis. After succeeding in one of the greatest deals in history, he had a series of less successful years. He turned his hedge fund company into a family office last year after assets fell to about $9 billion in 2019 from a peak of $38 billion in 2011, and found himself running mostly his own money.
The family owns a wide range of real estate investments, including an Aspen farm and a Hamptons property that was purchased for $41 million in 2008. John Paulson has also made investments in Puerto Rico, buying majority stakes in Condado Vanderbilt Hotel, La Concha Renaissance Resort and St. Regis Resort Bahia Beach.
While their divorce may be one of the largest separations in history in terms of assets at risk, it will be dwarfed by two recent separations. Melinda French Gates ended up with billions of dollars of stock in a variety of companies after her divorce from Microsoft founder Bill Gates, while MacKenzie Scott, the ex-wife of Amazon CEO Jeff Bezos, is now worth $56.4 billion.