Yahoo Lifestyle How Divorcing Billionaires Battled over This $150M LA Home
Nestled in the hills overlooking Los Angeles is the 50,000-square-foot Pritzker estate—the lavish one-time home of Hyatt hotel heir Tony Pritzker and his ex-wife, the philanthropist Jeanne Pritzker.
Soon to hit the market with an expected asking price of around $200 million, the monstrous estate was at the center of the couple’s contentious divorce proceedings and busted open a shocking secret about their shared wealth, the Wall Street Journal has reported.
After their 30-plus-year marriage fell apart in 2022, Jeanne sought to continue living in the Angelo Drive estate—with amenities that include a bowling alley, a gym with changing rooms, and an infinity swimming pool—but Tony, the brother of Illinois governor J.B. Pritzker, wanted to sell.
Jeanne’s team of lawyers was prepared to fight for her to stay in the home. But the rug was ripped from beneath her when she learned that, legally speaking, the couple didn’t own the home—or its contents, even the cutlery—at all.
The property instead was owned by a complicated network of trusts of which Jeanne was not a beneficiary. Not only was she not entitled to continue living there, but she had no legal claim to the estate during the divorce battle.
Tony and Jeanne Pritzker, both in their 60s, were married for more than 30 years and have six children.
Jeanne is the latest in a growing number of wealthy spouses to learn during a divorce that the couple’s assets actually belong to a trust, the Journal reported. The technique is used to protect privacy and reduce taxes, but in a divorce it can also help one side retain control of assets.
“There is very definitely a rise in using various techniques to try to shield assets from spouses in the event of a divorce,” attorney Jeff Diamant, who specializes in divorce fraud, told the Journal. “We’re seeing significantly increasing numbers of, let’s just say husbands, trying to hide money from their spouses.”
Jeanne and Tony, who are in their 60s and share six children together, have since settled their divorce for an undisclosed sum.
The extended Pritzker family, who was ranked the ninth-richest in 2020, split their wealth among 13 family members, 11 of whom are billionaires, Forbes reported.
In addition to the sprawling Hyatt Hotel chain, the family owes their wealth to various investments in holdings such as Marmon Group. Their reach also extends to politics and philanthropy, with the family establishing the Pritzker Prize, which is considered the Nobel Prize of architecture.
If the Angelo Drive estate sells, it will be one of the most expensive deals for a private home in L.A.’s history.
The estate’s construction was completed in 2011. Surrounded by an 8-foot fence, it can only be accessed by a lengthy, hedge-lined driveway. In addition to the main home, the estate features a tennis court, guesthouse, and home theater.
Its view of L.A.’s skyline is said to be one of the best in the city. Real-estate agent Rayni Williams, who has visited the estate, told the Journal, “You feel like you’re floating.”
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