Billionaire John Paulson, who once said buying a home was “ the best single investment you can make,” may put that maxim to the test as he and his wife Jenny head for divorce.
The two have lawyered up for what will probably be a battle for assets, given that the couple lacks a prenuptial agreement. The money manager made $20 billion by shorting the housing market before the 2008 crash and earned much of his fortune during the marriage. The New York Post reported the divorce on Tuesday, saying the couple cited “irreconcilable differences.”
The Paulsons, who married in 2000, spent more than $100 million on properties in New York, Southampton and Aspen between 2004 and 2012.
First, they plunked down $14.7 million for a neo-Georgian townhouse at 9 E. 86th Street in Manhattan. The home, once the Town Club, is a six-story, 51-foot-wide limestone townhouse with 28,513 square feet above its basement.
Then, in 2008, they spent $41.3 million for three parcels of land on Southampton’s Lake Agawan and built a 15,000-square-foot home on the 10.4 acre property, known as “Old Trees.”
It has 13 bedrooms, a dining room that seats 60, as well as a pool, tennis court, carriage house and guesthouse.
John Paulson paid $2.85 million in 2010 for a two-bedroom spread at 641 Fifth Avenue‘s Olympic Tower. It’s unclear whether the couple still owns the unit.
Two years later, they bought the Hala Ranch in Aspen for $49 million. Once owned by Saudi Prince Bandar bin Sultan, it was deemed the most expensive estate listed in the U.S. in 2006 with a price tag of $135 million. The ranch is 56,000 square feet, with 15 bedrooms and 16 baths.
Paulson’s real estate holdings go beyond traditional properties. In 2015, Paulson’s hedge fund Paulson & Co. took a seven percent stake in luxury hotel operator Starwood Hotels and Resorts Worldwide, making it the company’s largest shareholder. Starwood has since been acquired by Marriott.