Wendy Davis’ highly publicized divorce was splashed across headlines nationwide. Alongside her ex-husband, they owned Safeco, which they sold to cover their high asset divorce settlement. Now that she is running for governor of Texas, the financial details of the divorce have come under scrutiny.
According to the Dallas Morning News, a person familiar with the settlement, reported Davis’ share to be six million dollars, which Davis’ representative is claiming is incorrect. He has requested that the publication retract the statement and list their source providing that settlement figure. The amount that Davis collected from the sale of Safeco is the financial seed in her run for governor. After the divorce, she was issued a contract naming her an officer of the succeeding entity, Republic Title of Texas.
High asset divorce’s such as this often center around how the court handles business assets during the asset division process. When a power couple such as this divorces, people in the legal community tend to pay attention to how the court handles the case.
Wendy Davis was employed by Safeco but also was married to the founder so she was entitled to roughly half of the company. The exact details of the divorce settlement have not been officially confirmed.
These types of high profile divorces affect more than just the couple who are splitting up. When there is a business involved it affects employees, shareholders and the industry the company is in. The sale of Safeco, in this case, gave Davis the financial seed she needed in order to start her run for governor. As that race continues, more detail will likely emerge regarding the exact details of her divorce settlement.
Source: The Dallas Morning News, “Wendy Davis challenges report of multimillion-dollar divorce settlement, source confirms report is accurate,” Wayne Slater, Sept. 14, 2014