Tags: Eliot Spitzer | Silda | divorce | settlement

Spitzer's Ex-Wife Gets Massive Divorce Payout

Image: Spitzer's Ex-Wife Gets Massive Divorce Payout

By Melanie Batley   |   Monday, 28 Apr 2014 09:45 AM

Silda Spitzer, the ex-wife of disgraced former New York Gov. Eliot Spitzer, will be receiving a $7.5 million settlement from their "post-nuptial agreement" and a $240,000 a year maintenance payment for the rest of her life.

According to The New York Post, the 56-year-old will receive the cash settlement over seven years, and her ex-husband also agreed to "use his best efforts" to ensure that she stays in their Fifth Avenue apartment with all expenses paid, or alternatively move her to "a replacement residence of similar size, location, and quality."

Spitzer will also pay other living expenses for his ex-wife, including healthcare and medical insurance, an accountant, housekeeper, and part-time assistant. She will also receive a new car at least every five years, unspecified "entertainment" costs, and up to $100,000 a year to donate to charity. The couple will share ownership of their $5 million upstate farm.

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The deal was signed on Sept. 4, and related documents indicated Eliot had real-estate holdings at the time valued at up to $46 million with a reported adjusted gross income in 2012 of over $4 million.

The former Democratic Party politician rose to national prominence during his tenure as New York State Attorney General for his aggressive prosecutions and civil actions in the financial sector after the 2001 Enron scandal, and battles in the state and federal courts against corruption and prostitution.

He went on to serve as New York's 54th governor, but was forced to resign in 2008 after a federal probe uncovered his involvement in a prostitution ring in which he was known as "Client No. 9." At the time, his wife stood by him.

In the most recent New York City elections, he ran as a candidate for comptroller but lost the Democratic nomination to Scott Stringer.

The couple announced their divorce last year after the Post published photos of him emerging from the apartment of spokeswoman Lis Smith who is 23 years his junior.

The final financial agreement also outlines a confidentiality clause stipulating that neither party or their representatives may publish anything "concerning intimate details of their marriage" or "any other intimate details of the other's life, or the other's business, professional, or financial affairs" without written consent, according to the Post.

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