$881 Million Divorce Settlement With Ex-F1 Supremo Bernie Ecclestone Forces His Wife to Set up Family Office

Former F1 CEO Bernie Ecclestone and his ex-wife Slavica Radić had a divorce back in 2009. Since the former couple reached a $881 million divorce settlement, Radić set up a home office to manage all the fortune.

According to Fortune, Radić established a firm called ‘Elm Cove in August last year to take care of her finances. She also hired some of the best managers to do so. Radić hired London-based trust manager Stefan Le Marquand and former HSBC managing director Frederik Nerbrand.

Ecclestone and Radić were married for over 23 years, having tied the knot in 1985. They first met at the 1982 Italian Grand Prix where Radić was modeling. They then married each other in London three years later. Ecclestone and Radić have two daughters: Tamara, 39, and Petra, 35.

It was Radić, who petitioned for the divorce back in November 2008. She cited ‘unreasonable behavior’ by Bernie Ecclestone.

Following their divorce, Ecclestone married for a third time. He tied the knot with Fabiana Flosi, who was the vice president of marketing for the Brazilian Grand Prix at the time. The two married in 2012 and have a son, Flosi, who was born in July 2020.

When it comes to his role in F1, Bernie Ecclestone was removed as the sport’s CEO in 2017, a year after Liberty Media took over. Despite moving away from the limelight, the 93-year-old has not managed to escape controversies.

Bernie Ecclestone pleaded guilty to committing a $492,000,000 fraud

In October of last year, Bernie Ecclestone pleaded guilty to committing a $492,000,000 fraud. Since the former F1 CEO had turned 93 last year, he managed to escape jail time for the same.

Instead, he received a 17-month term, suspended for two years. After he admitted to committing fraud, Ecclestone handed over a whopping $801,911,100 to the HM Revenues and Customs (HMRC) to end the probe into his tax investigations.

However, even though Ecclestone pleaded guilty, his lawyer, Clare Montgomery KC, told the judge that her client was not aware of the taxes he was liable to pay because of the assets he owned in Singapore. Montgomery KC then ended her remarks by explaining how Ecclestone has always intended to pay the taxes he is due in a timely manner.

This is, however, not the only time that Ecclestone has been embroiled in a controversy. The 93-year-old was once also arrested in Brazil when he was found in possession of an illegal gun.

Ecclestone, in his defense, said that he was not aware that the gun was in his luggage. He eventually paid $1,260 as bail, following which the authorities permitted him to travel to Switzerland.