Spielberg Loses $100m

Steven Spielberg's 1989 divorce from Amy Irving resulted in a staggering $100 million settlement, despite the presence of a prenuptial agreement. The couple, who were married for four years, had a prenup that was written on the back of a cocktail napkin, without a lawyer present.

The prenup, which was intended to limit Irving's claim to Spielberg's wealth, was challenged by her in court. Irving claimed that the agreement was invalid because she did not have an attorney present when it was drawn up. The court ultimately ruled in her favor, deeming the prenup invalid and entitling her to half of Spielberg's earnings from their four-year marriage.

Spielberg and Irving married in 1985 and announced their decision to divorce on April 24, 1989. The couple had met in 1975 when Irving auditioned for Spielberg's film 'Close Encounters of the Third Kind'. The divorce settlement, which was reportedly around $100 million, was a significant amount, especially considering that the couple had a prenup in place.

## Why it matters The case highlights the importance of having a valid and legally binding prenuptial agreement. The fact that the prenup was written on a cocktail napkin, without a lawyer present, made it vulnerable to challenge. The court's ruling in favor of Irving demonstrates that a prenup must be properly executed and witnessed in order to be enforceable. This case serves as a cautionary tale for couples who are considering getting married and want to protect their assets.

The divorce settlement also underscores the significant financial stakes involved in high-profile divorces. Spielberg's earnings from his films and other business ventures made him a wealthy individual, and the court's ruling entitled Irving to a substantial share of those earnings. The case is a reminder that divorce can have significant financial consequences, even for couples who have a prenup in place.