Advertising icon Martin Sorrell is confronted with a divorce after the divorce of his 12-year-old wife
The second wife of Britain’s most famous advertising tycoon, Sir Martin Sorrell, has revealed that after 12 years of marriage she is seeking divorce – almost three years after being accused of visiting a £ 300 prostitute in a brothel in Mayfair.
Sir Martin, worth an estimated £ 368 million, married Cristiana Falcone, 45 in 2008, and the couple has a young daughter born in 2016.
Lady Sorrell, who is nearly three decades young, could now become one of the richest women in Britain after the 75-year-old divorce, who said she had made an “important contribution” to his success and wealth.
The couple lived together in a £ 25 million townhouse in central London and Sir Martin also has an expensive apartment in central New York that could be part of the separation of several million pounds.
Sir Martin’s wealth has risen from around £ 148 million to an estimated £ 368 million during their 12-year marriage with senior divorce lawyers who told MailOnline that Lady Cristiana should be the “starting point” for claiming half of those £ 220 million.
A payout of £ 110 million would make it comfortably one of the five largest divorce schemes in British legal history.
In 2005, Sir Martin paid a £ 29 million divorce arrangement to his first wife Lady Sandra after 33 years of marriage – three years later he married Italian economist Cristiana.
Sir Martin Sorrell, worth an estimated £ 368 million, married his second wife Cristiana Falcone (pictured together in 2009) in 2008 but divorced after 12 years
The couple lived together in this centrally located London townhouse that is worth at least £ 25 million
Sir Martin also owns an apartment in this block in Manhattan, close to the Empire State Building in New York, which can also be part of a divorce agreement
Their split comes two years after Sir Martin stopped advertising giant WPP amid allegations of misconduct and staff bullying and claims the company had investigated whether Sir Martin had spent £ 300 in business money on a Mayfair prostitute in June 2017.
Lady Sorrell could stand in line for a £ 100 million divorce arrangement from her media magnate husband
Leading divorce lawyers have said that Lady Cristiana will fight for £ 100 million plus.
When they married, Sir Martin was worth £ 148 million according to the rich list of the Sunday Times, now it is estimated at £ 368 million.
Sebastian Burrows, managing partner at Stowe Family Law, told MailOnline: “If he earned £ 200 million during their marriage, she should focus on getting half.
“If they have houses in London and New York, they will also look for the money to pay for new objects in both cities – or do they have them.”
In the aftermath of the scandal, Sir Martin rubbed every suggestion of marital problems, but the couple is no longer together.
In a statement released late last night, Lady Sorrell said, “My husband and I are divorced and I am looking for a divorce to end our marriage.”
The Italian, who is a member of the board of media conglomerate Viacom and previously worked at the World Economic Forum, added: “From now on my priority will be the interests of my daughter, and I request that the media protect the privacy of my and my respect my family. ”
Sir Martin Sorrell’s 30-year advertising giant WPP came to a halt after two junior colleagues claimed to have seen their boss in a brothel in Mayfair in June 2017 – which Sir Martin strongly denied.
In interviews after the red-light district scandal, Mr. Sorrell also rejected claims that he used company money to pay a prostitute – and rejected any suggestion of marital problems.
He told the mail on Sunday in December 2018, eight months after leaving WPP: “That is not a question that I will answer with dignity. Everyone who really knows me knows that the allegation and the surrounding insinuations are made up. “
15 years ago, Sir Martin’s divorce from his 33-year-old wife, the American-born Lady Sandra, was a British legal record.
The couple, who have three sons, broke up in 2003 and his first wife blamed Sir Martin’s obsession with work and claimed she felt “marginalized” and “dehumanized.”
She received a £ 30 million settlement – then the largest in British legal history. Legal documents revealed that the deal included a £ 3.25 million Georgian mansion and two £ 200,000 Harrods underground parking spaces.
In 2005, he paid a £ 29 million divorce settlement at the time to his 33-year-old wife, Lady Sandra (photo). In 2008 he married economist Cristiana Falcone
Sir Martin Sorrell, then WPP Group chief executive, arrives at an Idaho advertising summit with his wife Cristiana Falcone Sorrell. It later turned out that the company paid for its expenses, which caused a large queue of investors
Sorrell denied both sleeping with a prostitute and misuse of corporate funds – he also said that the WPP scandal did not cause marital problems with his second wife Lady Cristiana Sorrell (together left in 2009 and right in 2016) – but they are now divorcing
His first wife Lady Sandra blamed Sir Martin’s obsession with work for their split and claimed she felt “marginalized” and “dehumanized.”
Sir Martin married in 2008 with his second wife Cristiana, an Italian economist. He aroused anger with WPP investors a few years later when it appeared that the company was paying her travel expenses.
The controversy led to one of the many run-ins between him and the shareholders of WPP, which he said: “My wife has made an important contribution to what I do. What she does is extremely important. “But he later agreed to pay her costs in person. ”
Before he left WPP, Sir Martin was accused by two WPP employees of visiting a brothel in Mayfair.
Colleagues drank a drink on June 7, 2017 when they claimed they saw the 50a Shepherd Market advertising engine coming in – then a den of iniquity in one of London’s red-light districts.
The friends, who were not mentioned, would also have taken a photo of the building and this would be used later during the WPP misconduct probe, the Financial Times reported.
Sir Martin left WPP, the company he founded more than 30 years ago, in April 2018 following allegations of personal misconduct. WPP has investigated allegations that it has misused company assets, but the details of the investigation have never been disclosed.
The former Sir Martin houses in Knightsbridge (photo) are believed to have been part of his divorce settlement with his first wife, Sandra
Lady Sandra also got the two spaces from her ex-husband in the underground parking garage Harrods – worth £ 100,000 each
There were also claims of bullying for WPP.
His six executive assistants in the US and UK said they were paid at least £ 80,000 a year – but called it “combat wages.”
One claimed: “He was brutal and inhuman in the way he dealt with his assistants,” said a former director. He would say “you are idiots f ******, what’s wrong with you?”
Others said that he regularly swore by junior staff and an employee approaching retirement called a “pudding” and others “bozos.”
Sir Martin transformed WPP from a small shopping basket manufacturer into one of the most powerful marketing agencies in the world, with a value of more than £ 11 billion. After stopping, he retained his right to shares worth tens of millions of pounds – and his contract also enabled him to launch a rival immediately.
Only six weeks after leaving WPP, he revealed that he was setting up S4 Capital, later taking on the position of “senior monk” at MediaMonks after he had bid WPP for control of the digital production company. S4 itself was valued at £ 949 million last night.
Sir Martin could not be reached for comment
Two WPP employees who drank in central London claimed to see Sir Martin Sorrell enter the white door of 50a Shepherd Market (photo), who was then a brothel next to a bookmaker in Mayfair
The brothel in Mayfair, central London, had the sign ‘beautiful young lady, please knock’ (left) on the door (right)
How workaholic Sir Martin Sorrell turned a wire shopping basket company into an advertising giant and took home up to £ 70Million-A-YEAR until he left under a cloud in 2018
Sir Martin Sorrell (pictured in 1990) transformed WPP from a small wire basket company into the world’s largest advertising agency
Sir Martin Sorrell transformed WPP from a small wire basket company into the world’s largest advertising agency and on the way became the UK’s best-paid businessman and one of the most influential men in Britain.
Raised as an only child – a brother died in childbirth – in a Jewish household in North London, Sorrell went to the universities of Cambridge and Harvard before entering the trading world.
He flew under the radar in his early years, but became famous after he became the financial boss of advertising agency Saatchi & Saatchi.
As he helped build it into a global giant, Sorrell became known as the “third Saatchi” brother, after founders Maurice and Charles.
He then grabbed WPP and was chief executive of WPP for more than three decades.
In those 30 years at the top of the world’s largest advertising agency, he made a huge fortune.
But his years as one of Britain’s best-paid executives also gave him little time – or tendency – to spend his money, which over the years has been estimated at nearly half a billion pounds.
Sir Martin, a self-proclaimed workaholic, said famously, “I don’t relax. I can’t even spell the word ‘hobby’. ”
Sir Martin transformed WPP from a small shopping basket manufacturer into one of the most powerful marketing agencies in the world, worth more than £ 11 billion
As Chief Executive of WPP, he created an advertising empire with 200,000 employees in 112 countries and a turnover of £ 15.3 billion. Its success was reflected in its wages and bonuses, which amounted to £ 70.4 million in 2015 – when it was considered the highest pay package in UK business history.
In the eight years before he left, he lost more than £ 230 million in rewards and bonuses, and a long-term incentive plan means he will receive another £ 20 million from WPP in the next five years – despite his resignation and misconduct investigation.
Sorrell resigned on April 14, 2018 and walked away with £ 20 million in stock options and he founded a new advertising agency S4 Capital.
A passionate campaigner for Remain in the EU referendum, he is a regular commentator on business matters, who regularly appears on the BBC and in national newspapers.
What are the largest divorce benefits in Britain?
London has earned its reputation as the divorce capital of the world after a series of huge payouts in favor of the “financially weaker spouse.”
The nickname – cemented by the emphasis on full disclosure by both parties – has encouraged foreign-born spouses to seek divorce arrangements in London instead of their home country.
Another reason for taking legal action in London is the fact that English courts can decide on a case-by-case basis whether marital conditions are binding.
In 2012, The Times found that one-sixth of divorce cases dealt with by English courts related to aliens. Of the cases where large amounts were involved, about half would relate to international couples.
Ayesha Vardag, a lawyer who has represented a number of wealthy clients in high-profile divorce battles, said: “The principle that there is no discrimination between breadwinner and housewife is the cornerstone of why English jurisdiction is considered a particularly fair one for the financially weaker spouse. “
MailOnline looks at some of the largest divorce benefits …
Farkhad Akhmedov, a Russian energy magnate
1. Akhmedov against Akhmedova – £ 453 million
Tatiana Akhmedova received a 41.5% stake in Farkhad Akhmedov’s £ 1 billion fortune after a money fight in London.
The news about Mrs. Akhmedova’s payment came forward in the summer of 2017 following a hearing in the Family Division of the High Court in London under the supervision of a High Court judge.
Mr. Justice Haddon-Cave revealed details of the case in a written judgment published on a legal website.
He thought his prize was the largest of a divorce judge in England.
However, the ruling was challenged in an appeal.
2. Cooper against Hohn – £ 337 million
The case of philanthropists Sir Christopher Hohn and Jamie Cooper was closed in December 2014 by Mrs. Justice Roberts.
The man was successful in his ‘special contribution’ argument and the judge left equality to grant the woman £ 337 million, 36 percent of the total balance sheet total.
In June 2017, Sir Geoffrey Fox then ordered Sir Christopher to pay an amount of £ 282 million from his charity to his former wife’s own foundation.
3. Estrada against Juffali – £ 75 million
The separation between model Christina Estrada and Saudi billionaire Walid Juffali was completed in June 2016 by Mrs. Justice Roberts.
The case was remarkable due to the ‘stratospheric’ standard of living of the couple and the Islamic marriage of Juffali to a second wife in 2012.
Juffali had previously tried to avoid the procedure through a ‘false’ claim of diplomatic immunity.
The separation between model Christina Estrada and Saudi billionaire Walid Juffali was completed in June 2016 by Mrs. Justice Roberts
4. WM v HM – £ 73m
Mr. Justice Mostyn was the chairman of the WM v HM case in May 2017. The husband’s claim for “special contribution” was rejected and the wife was awarded £ 73 million.
The case was also interesting for Mostyn J’s words about the retrospective valuation of a company.
Former Miss Malaysia beauty queen Pauline Chai wanted about £ 100m from ex-husband Khoo Kay Peng after the failure of their 42-year marriage
5. Chai against Peng £ 64.5m
Former Miss Malaysia beauty queen Pauline Chai wanted about £ 100m from ex-husband Khoo Kay Peng after the failure of their 42-year marriage.
Dr. Khoo, non-executive chairman of Laura Ashley Holdings, said she had to earn around £ 9 million.
After analyzing the evidence during the trial at the High Court in London, Mr. Justice Bodey announced last year his decision that Chai should receive a £ 64 million package consisting of cash and ownership.
6. Al-Baker against Al-Baker £ 61m
The verdict for Sarah Al-Baker’s multinational case against Abdul Amir Al-Baker was pronounced in October 2016 by Mr. Nicholas Cusworth QC.
The case that stretched between civil and religious courts was remarkable because of the husband’s consistent non-compliance and non-disclosure, which earned the wife £ 61 million.
7. M v M – £ 54 m
Mrs. Justice Eleanor King DBE chaired the M v M case in August 2013, giving the woman £ 54 million.
Due to the fact that the marital property of the Russian couple got stuck in offshore trusts, the case had five additional respondents.
8. Charman v Charman – £ 48m
In 2006, Beverley Charman, the former wife of insurance magnate John Charman, received a £ 48 million settlement by the English courts in a two-year procedure.
Charman appealed the decision, but the payout, which was made legally at the time, was confirmed in 2007.
9. Sorrell v Sorrell – £ 30 m
The Lady Sorrell case against Sir Martin Sorrell was handled in July 2005 by Mr Justice Bennett.
This is one of the rare cases in which a man successfully advocated a “special contribution,” giving Lady Sorrell £ 30 million, a 60/40 division of marital assets.
The bitter split saw the head of advertising group WPP live for a while in the basement of their mansion in Knightsbridge.
In the divorce settlement she also got two parking places at Harrods.
10. Young v Young £ 20m (£ 6m cost)
Mr. Justice Moor handed down the judgment for Young v Young in November 2013.
Michelle and Scot Young were involved in a particularly public divorce battle in which, although he was legally bankrupt, the woman insisted that the man had hidden thousands or millions off the coast.
In the end, the wife received £ 20 million and the husband was ordered to pay £ 6 million – according to the highest order in family history.
Michelle and Scot Young were involved in a particularly public divorce battle where, although he was legally bankrupt, the woman insisted that the man had hidden thousands or millions off the coast
Many divorces do not end in court, such as the 2008 split of Formula 1 tycoon Bernie Ecclestone and his wife Slavica, who have estimated a settlement at £ 790 million.