PP also made the choice to end her marriage and did so without knowing her spouse was going to contribute to her kids college expenses. I’m guessing her rich parents are paying for it instead. Rich people have so many more options than regular folks do. I don’t want a divorce, but if I did, I couldn’t just leave without knowing how expenses would be covered. |
She pretty much did worship him, even after he cheated. |
DP. I’m going to guess that 99% of the women who work daily with husbands who travel extensively either a) don’t have children or b) feel that their family benefits from their income. At some point, if your family truly does not really benefit from your income, you feel guilty for going to work every day. Especially if you are essentially the only present parent in the home. |
+1. I had the same thought. The story is very Henry Jamesian. |
James Ian. This is interesting. Thank you for sharing this. |
Your post reeks of sexism that holds women back. Just because your DH does well doesn’t mean you don’t need to succeed. Unless you’re independently wealthy you need to earn an income and prioritize yourself. |
I’d like to think Belle Burden is intentional with the Henry/James names, but I kind of doubt it. The Golden Bowl really is like Strangers, except how events shake out over time (no spoilers). Belle is like the Maggie Vervor character, and her husband is like “Prince Amerigo, an impoverished but charming Italian aristocrat,” who cheats on Maggie, renewing his affair with a former lover, Charlotte Stant. |
I don’t know what to tell you. I don’t know many women who prioritize themselves over their children for hours a day every day. 99% of women who work full time either don’t have kids at home or they feel that their family benefits from their income. |
DP here. I am a longtime SAHM but I can think of many women I know who work simply because they do not wish to SAH and would rather work. Women whose husbands make more than mine does. |
Even if the wife worships them, they want the same from a newer model. |
Yes, this. It's very common. |
Only if the man was not raised properly. |
Sure. I'm not defending the practice. Geez. |
In our set, the women are physicians, lawyers, professors, journalists, etc., married to law firm partners, hedge fund or tech types. The women are not working for income. Their work gives them purpose. And they are typically quite successful on their chosen fields. |
Correction - they paid the mortgages. She says they split expenses 50/50 (even though she had less income from him even with the inheritance). Financially, she put more money into the homes than he did, but yet he was going to get 50/50 equity. She doesn't have hundreds of millions. She had an interest in a life estate for her stepmom. That life estate was sizable (45 million) but she has no access to it until the stepmom is dead. Who knows how much will be left in it, and she will have to split it with sibling and pay estate tax. She has a $6 million interest in a family holding company, WAMBCO, but it's not like that's a publicly tradable asset that she can tap at any time. Family structures like that don't have to disclose, and so no one has any idea of the terms of the trust. It's very common that the parents are able to take out a small portion of the trust. Depending on how it's invested that could be as little as 3% a year, which is $180,000 -- not starving territory, but definitely not enough to hold onto two multimillion dollar houses or buy out your spouse. Yes, she had some "income" - payment ($300K) for work selling assets in a trust, but that kind of payout is often not predictable. Someone probably had to die or decide to downsize to sell that asset. One year she had 800,000 in income including 190,000 from the sale of her mom's home in the catskills. So that means, maybe $600,000 K of income that may reflect a more steady income stream (or not). Still not enough to buy your husband out of 2 multimillion dollar properties. Yes, she had a Vanguard account and a share in the family trust together totaling 10 million. No way to know how much of that was actually liquid. The asset value isn't related to what she could actually get access to. Other than that she had two trusts that the New Yorker said she tapped to buy the 2 homes - a 4 million dollar apartment with a 1 million dollar mortgage. That home later sold for 12 million; a 50/50 split would have given her husband 6 million although by percentage invested, she put down 75% and paid half of the remaining 1/4 value by mortgage. So by investment percentage she should have gotten 87.5% of the value of the home at sale -- or 10.5 million (instead of 6). She put 2.4 million toward a house with a 3 million dollar mortgage. She paid 44.4% down on the other house and paid half of the remaining mortgage, so she had an interest in 77% of the house valued at 7.7 million subsequently. That share would have been 5.9 million but at 50/50, she would have only gotten 3.85 million. Essentially, a 50/50 split would have meant that he essentially was going to take 7 million in appreciation for which he did not put down the proportional amount of capital. He was a finance guy. He knew exactly what he was trying to get away with, and probably the only thing that made him not do it in the end was the knowledge that she hadn't kept her mouth shut about their split, so he was no longer confident that she would keep her mouth shut about being financially screwed by him. He was able to put his money to work during the marriage, while hers was tied up in the real estate they lived in. He was able to pay a very small proportion of the bills in the houses he lived in, which enabled him to put his money to work in investments solely in his name. And, he got access to a social circle that benefited his career as well as, ultimately, a stay at home wife, which also benefited his career. It's interesting to me how people don't do the math on the houses. It's also interesting to me that the article scrutinizes Belle's finances but only gives a dollar amount to her husband's salary at the time of signing the divorce ($200K of base salary only - not listing a bonus which for a hedge fund is usually millions more) and a dollar amount to how much he will pay each year for the kids ($600K - 3/4 of one year's income for her). The article never mentions his full salary at the time of the divorce, even though the author says she has the divorce agreement. (As a hedge fund guy who is paying $600K to the kids, it's got to be in the multimillions). Also the article consistently conflates asset value and having your name on a trust with the idea that she could get full access to the total amount. Wild how his finances totally escaped scrutiny in this situation. |