Another Billionaire Financier Divorces Wife Of 20 Years

It’s the latest high-profile divorce to involve an American billionaire since Bill and Melinda Gates announced their divorce back in May: John Paulson and his wife Jenny Paulson are separating after more than 21 years of marriage. The 65-year-old Paulson cited “irreconcilable differences” as the reason for the breakup.

The split will involve the division of a 10-figure American fortune (Forbes puts Paulson’s wealth at around $4 billion): The divorce paperwork was filed in Suffolk County, New York. Paulson is being represented by William D. Zabel, a celebrity divorce attorney who has represented Jane Welch (during her divorce from former GE CEO Jack Welch) and radio personality Howard Stern and fellow hedgie Bill Ackman, among plenty of other high-profile clients. It looks like Zabel will be earning his keep with this case: The Paulson’s didn’t have a pre-nuptial agreement, according to the New York Post’s Page Six, which cited an unidentified source.

According to Page Six, the soon-to-be-former Mrs. Paulson has hired her own power attorney, setting the stage for what some are calling a “legal clash of the titans.” She’s been rumored to be talking to divorce attorney

“There’s no prenup, and John gathered most of his fortune during their marriage, so this is going to be an epic, wildly expensive divorce,” one source said.

Paulson married Jenny in 2000 after he she met her while working as his assistant, was most recently reported to be worth $4.7 billion – though some say the true number could be much higher.

The most interesting detail about the split is the timing. Sources say the couple, parents to two daughters, Giselle and Danielle, had grown apart and “been living different lives in the last 15 years.”

The pair own an impressive property portfolio, including an enormous 28,500-square-foot UES townhouse on E. 86th Street, which they bought for $14.7MMin 2004.

The Paulsons also have an estate in Southampton, which they bought for $41MM in 2008, as well as a home in Aspen, which they purchased for $24.5MM in 2010.

Paulson converted his firm into a family office early last year after years of struggling returns.