It’s official: Kim Kardashian West has filed for divorce from Kanye West after nearly seven years of marriage. A court clerk for the Los Angeles Superior Court confirmed the filing on Friday. A representative from Kim’s camp also verified the story.
Kim, 40, and Kanye, 43, are both international celebrities in their own rights, making this huge news. They met in the early 2000s. Kanye first made an appearance on Keeping Up With the Kardashians in a 2010 episode; Kim was dating former NBA star Kris Humphries at the time. Kanye later professed his love for Kim in 2012 with a song, and they began dating soon thereafter. They tied the knot at a lavish 2014 ceremony in Italy about a year after Kim ended her three-month marriage to Humphries. The couple had four children together: North, Chicago, Psalm, and Saint.
Trouble in Paradise
The news of the star-studded couple’s divorce wasn’t a surprise to reality TV fans. On the show, it’s been evident for months now that something was amiss. Kim and Kanye’s relationship has reportedly been rocky as the pair struggled with Kanye’s bipolar disorder. Kanye was spending a lot of his time at their home Wyoming, while Kim remained in California with the kids.
“I understand Kanye West is subject to criticism because he is a public figure and his actions at times can cause strong opinions and emotions,” Kim wrote in a statement shared on social media last summer. “He is a brilliant but complicated person who on top of the pressures of being an artist and a black man, who experienced the painful loss of his mother and has to deal with the pressure and isolation that is heightened by his bi-polar disorder. Those who are close with Kanye know his heart and understand his words some times do not align with his intentions.”
There’s a lot of money at stake in this divorce. The couple had a collective fortune of $2.1 billion. Let’s take a look at the twists and turns of this celebrity divorce and how it compares to a regular California divorce.
What Does Divorce Mean for Kim and Kanye’s Collective $2.1 Billion Fortune?
$2.1 billion is an insane figure, so let’s break that down. Kanye West is the richer of the pair, but his shoe company, Yeezy—worth approximately $1.26 billion—contains much of that wealth. Kanye purportedly collects 11% of the company’s annual revenue. That amounted to about $1.3 billion in 2019.
Kim Kardashian might own less than her husband, but her fortune is much more liquid. She has the largest stake in her cosmetics venture KKW Beauty, which is worth an estimated $500 million. That is in addition to the millions she made starring on Keeping Up With the Kardashians and her various modeling and endorsement gigs.
Splitting their shared homes—including their Calabasas mansion with a $30,000 bathroom sink and two ranches in Wyoming—might be more complicated. There’s also reportedly “$5 million in art, nearly $4 million in vehicles, $3.2 million in jewelry.” But those items make up less than 5% of their collective fortune.
Whatever settlement their attorneys negotiate, we can say this much with certainty: Neither Kim nor Kanye will walk away wanting for much.
How Assets Are Divided in a California Divorce
California is a community property state. This means all assets and debt (community property) a divorcing couple acquired throughout the marriage is split 50/50. If either party contests the divorce, then the court will evenly divide all community property. This includes real estate, cars, bank accounts, pension plans, and any debt. If neither party contests, then the couple can agree on how to divide their property, whether anyone will pay spousal support, and how to handle child custody.
The good news for Kimye is their divorce seems to be amicable. The couple signed a prenup and neither party is contesting it, according to press sources. That will make splitting their $2.1 billion combined assets much easier. Since both independently operate their own businesses, they will likely retain ownership as well as their income from those ventures.
Kim has asked for joint custody of their children. Reports indicate that Kanye is fine with that arrangement; the two parents will reportedly prioritize co-parenting their four kids together.
A Divorce Does Not Have to Be Complicated
If Kanye West and Kim Kardashian can get a divorce with no issues despite having such a large fortune between them, then so can you! If you and your spouse want an uncontested divorce and would like to save money, consider working with A People’s Choice instead of an attorney.
A People’s Choice offers low-cost assistance to couples who want to file for divorce in California. We can also help you file motions for spousal support, child custody, and/or visitation, as well as other documents needed to divide your community property. Contact us today to learn more about how we can assist you with your family law needs!