Bernie Madoff wrecks another marriage. That of Marc J Leder and his wife Lisa Leder….just kidding. The mogul was invested with Bernard Madoff according to the Palm Beach Post, but his losses were “insignificant.” So let’s not blame poor Bernie for everything.
The reason the couple who have been married 22 years is divorcing is because she alleges all he does is work (workaholics beware!) and he alleges and she admits that she had an affair with the 23 year old tennis coach of her kids. (In other words, she’s a cougar. She’s 46 and Marc is 47. They got married in their twenties.)
Ok. So what are the stakes? Lisa claims that Marc is worth in excess of $400 million. He says he’s worth less. But he offered her $100 million settlement and she’s basically scoffed it off.
If he is worth $400 million, I don’t think that 25% is enough after a 22 year marriage. Unlike Countess Marie Douglas David who similarly wanted $100 million of her husband’s roughly $300 million fortune, Lisa Leder had a long marriage, 22 years, and three kids with this man. That changes the dynamics significantly. Arguably, Lisa is entitled to half of whatever Marc is worth at the moment. If he’s worth $400 million, she should not walk away with less than $200 million. They can settle it for, say $165. But if I were her, I’d continue to play hardball. One hundred million is not enough after a 22 year marriage with three kids. No fair.
The Leder’s lived large off the largesse of Sun Capital Partners which Marc co-founded in the 1990’s with his college buddy after the two got tired of making deals for Lehman Brothers and moved to Boca Raton Florida to tap this niche market. What they do is they buy small companies in the Southeast region, nurse them to profitability and sell them. After 15 years, they are filthy rich (well, the company is struggling in the economy but they are still doing extremely well) and Marc and Lisa own a lot of luxury items and real estate. Says the Palm Beach Post:
The couple agree that they live a luxurious lifestyle. They own a 15,000-square-foot manse west of Boca Raton and a vacation home in Stowe, Vt. They travel by private jet. Their six vehicles include an Aston Martin DB9 convertible, a Bentley Continental convertible, a Cadillac Escalade and a Lexus LS.
The Leders own cash, stocks and bonds worth $102 million, according to a list of assets filed in the case – and that doesn’t include the value of their homes, cars, art, jewelry, trusts and Marc’s interest in Sun Capital. Those items weren’t valued in the asset list.
In addition to their personal assets, Lisa wants a cut of Marc’s 50% stake in Sun Capital. I guess it’s future earnings capacity, and also from a fund with they created in 2007. Says the New York Post:
“Lisa wants half the value of Marc’s stake in Sun plus half of what he will get from Fund V down the road,” said Albert Caruana, Marc’s divorce lawyer, speaking about Sun Capital’s $6 billion fund it created in 2007
Well, interesting. I am sure I will revisit this story over the next few months. I mean, Lisa and Marc are the new Countess Marie and George David so they are my new catnip. But for now, here it is. Their intro. Welcome Lisa and Marc to Divorce Saloon!