Here's The Truth About Cardi B Having To Pay Offset $50 Million In Divorce Settlement...
The breakup between Bronx femcee Cardi B and Migos rapper Offset quickly became a Hollywood spectacle after the Invasion of Privacy rapper’s unexpected announcement that the two parted ways last week.
And as with any Hollywood spectacle stapling headlines, tabloids and social media, rumors around the matter dawned soon afterward. One of the latest hold that Cardi, who mentioned a divorce with Offset in her explanation of the split, might have a lot to lose from the breakup in a monetary sense. According to previous reports, she’d stand to cough up $50 million in a divorce settlement with her husband. However, the unofficial report left out some pretty significant details on how (let alone if) such a whopping amount would be owed to him.
A breakdown:
Let’s start with this: Cardi’s entire brand was not ‘developed’ during her marriage with Offset
Though a majority of it was. As the original report stated, “the NY law clearly states that any asset acquired or developed during a marriage is owned 50-50 by each spouse.” Without a prenup, that seemingly assures that Cardi’s reported $100 million brand would grant Offset $50 million in the case of a divorce. But that would only be with the exception of Equitable Distribution, according to entertainment lawyer Desiree Talley. Talley shared with Madame Noire that the term actually means that any marital property will be divided between spouses equitably and fairly—not simply half-and-half. “In the event that Cardi B and Offset in fact divorce, she may not have to pay him half of her fortune,” she continued. “Assuming New York law applies, the court will follow the equitable distribution laws of the state. Equitable distribution does not necessarily mean half. It means fair.”
There’s also the types of property that will be divided in a divorce settlement that comes into play
While both tangible and intangible property (jewelry, family home, income, etc.) are considered for division between the divorcees, there are specific factors that help the courts determine what a fair amount of payment in a divorce settlement looks like, Talley added. This includes the length of the marriage, the spouses’ ages, health, income, potential earnings or future fincicail circimstances, properties, and how much each spouse contributed to the acquisition of marital property, Madame Noire elaborates. Offset’s net worth stands at $1 million more than Cardi’s, so we’ll let you do the math there.
According to Talley, there are also two grounds for divorce that have a significant impact on the divorce based off of New York state law
Irretrievable Breakdown and Adultery. The former simply means that the relationship is damaged beyond repair. Unfortunately, in the case of the latter, however, adultery can only be argued in divorce court under a few strict conditions—one of them being that the non-cheating spouse (Bardi) did not “forgive the cheating spouse by having sexual relations with them after [he/she] discovers the adultery.” Bardi publicly addressed and forgave Offset’s scandalous side chick past amid their relationship, making her exempt from this stipulation of the adultery claim. But when taking the Cephuses behavior in the public eye into consideration, Talley said, they’d likely settle in court with a Contested Divorce (which means the courts will mediate final decisions of the divorce that the spouses failed to).
Thus, as we’d suggest per usual in breakup news that haven’t come from the sources themselves, take that $50 million settlement claim with the tiniest grain of salt you can find.
