Mark Zuckerberg's wife not entitled to Facebook's wealth? | HT Tech

Mark Zuckerberg's wife not entitled to Facebook's wealth?

Mark Zuckerberg racked up the biggest individual profit in history following the initial public share offering earlier this month but under Californian law, Priscilla Chan, his new bride, is entitled to none of it.

By:ANI
| Updated on: May 28 2012, 18:03 IST
image caption
Facebook-founder-and-CEO-Mark-Zuckerberg-and-Priscilla-Chan-at-their-wedding-ceremony-in-Palo-Alto-Calif-The-ceremony-took-place-in-Zuckerberg-s-backyard-before-fewer-than-100-guests-who-all-thought-they-were-there-to-celebrate-Chan-s-graduation-AP-Photo-Facebook-Allyson-Magda-Photography

Mark Zuckerberg can now legally guard almost his entire estimated wealth worth 12.17billion pounds from his new wife Priscilla Chan.

The computer genius racked up the biggest individual profit in history following the initial public share offering earlier this month but, under Californian law, his new bride, whom he married in May, is entitled to none of it.

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'As in business, timing is everything. In the event of a divorce, spouses are entitled to half of -everything earned during the -marriage,' The Daily Express quoted a Los Angeles-based attorney Steve Mindel, a prenuptial agreement specialist, as saying.

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However this does not mean, that Priscilla, 27, would walk away completely empty-handed in the event of their union failing, Mindel stressed.

He believes the couple almost -certainly signed a written legal prenup before marrying, 'The bankers and venture capitalists would have demanded that before they began putting millions upon millions of dollars into the company,' he added.

'The -company had to be safe from any -outside threats, so the notion of a spouse -claiming half would have had to have been dispelled,' he said. 'It makes sound sense that they waited until the day after the company went public although I would be -astonished if their prenup isn't -exceptionally generous to Priscilla,' California family law expert Jim Fedalen said.

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First Published Date: 28 May, 17:53 IST
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