Michael Douglas' Ex-Wife Wants a Piece of His 'Wall Street 2' Money

By John Mitchell Posted Jun 28th 2010 01:20PM

The title for the upcoming sequel to 'Wall Street' is 'Money Never Sleeps,' and star Michael Douglas is learning the hard way just how true those words are.

Douglas is being sued by his ex-wife, Diandra Douglas, who is claiming that she is entitled to 50 percent of his earnings from the upcoming 'Wall Street: Money Never Sleeps' as part of her divorce settlement from the actor, according to the New York Post. Michael and Diandra divorced in 2000, and he is currently married to actress Catherine Zeta-Jones, with whom he has two children, Dylan, 9, and Carys, 7.

If it seems strange that Diandra would be seeking her share of her ex-husband's salary for a movie he made a decade after their divorce was finalized ... well, it is. The suit appears to hinge on a clause in Michael and Diandra's divorce settlement that entitles her to 50 percent of any earnings Michael receives from any movies he did -- including residuals, merchandising and ancillary rights -- during their 23-year marriage. According to Diandra's lawyers, that provision includes any "spinoffs" of Douglas' movies.

The 1987 smash 'Wall Street' -- for which Michael won the Best Actor Oscar for his classic turn as Gordon Gekko -- was released during their marriage, and with the sequel set to hit theaters in September, Diandra is ramping up her case. "It's the same character, the same title, just years later," her lawyer, Nancy Chemtob, told Manhattan Supreme Court Justice Matthew Cooper at a hearing last Wednesday.

Marilyn Chinitz, Michael's lawyer, however, simply thinks this is a case of life imitating art, with Diandra taking the famed Gordon Gekko line "greed is good" to heart. "He doesn't want her to be an albatross around his neck forever," Chinitz said.

Michael and Diandra's divorce remains one of the costliest in Hollywood history. The pair's split was bitter, to say the least, with Diandra accusing Michael of sex and alcohol addiction and multiple infidelities. In 2007, Forbes magazine compiled a list of the 10 most expensive celebrity divorces and listed the Douglases' at number eight. Diandra walked away with an estimated $45 million and the couple's homes in Beverly Hills and Majorca.

Michael's legal team is seeking to have the case dismissed, arguing that the suit should never have been filed in New York in the first place, as the couple's divorce was finalized in California, and that the case has no merit because 'Wall Street: Money Never Sleeps' is a sequel, not a "spinoff." "They're not the same thing," Chinitz said in court.

Diandra's lawyer told the judge she filed the suit in New York because both she and Michael currently reside in the city, and noted that there's no legal reason the case can be heard only in California.

Justice Cooper has delayed ruling while he considers whether he should keep the case or send it back to a California court; however, he revealed that he believes there is indeed a difference between a spinoff and a sequel.

Michael and Diandra recently came together to support their son, Cameron, who was sentenced to five years in prison for his role in dealing methamphetamine and cocaine in New York City. During Cameron's April sentencing, Michael, who along with Diandra, Zeta-Jones and Kirk Douglas asked the judge for leniency, took a swipe at his ex-wife in a letter to the judge, describing Diandra as "a young mother without any parenting skills handed down from her own parents."

Tags: Michael Douglas

Comments

(398)

Monday 28 June

By rick

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Yea right, 10 years after the fact is "GREED". You can't live off of 45 million dollars? This is where the system needs to draw the line. She's married 23 years and has some kind of personal vendetta. Same goes for the woman who couldn't live off of 24,000 a month for support. By the way the judge saw her for the
"greedy" person she was and it was reduced to 5,0000.

By longcat

Highest Rank Vote down Vote up Report this

She deserves, you say? What does she deserve? Did she help him film half his movies? Did she work half his hours? Somehow I doubt that, ma'am. This "entitlement" thing that woman have nowadays is nothing short of greed.

By Rob

Riiiight. Just like prenups get overidden by courts and greedy lawyers. Men just get no brakes in court.

By Cream of SumYounguy

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She deserves every penny! According to Mike that would be about 1.4 million for every time she polished his knob.

Hard work indeed!

By bailoutsos

His money paid for a better lawyer for her than he bought for himself. OUCH!

Their money bought her a better lawyer then he bought for himself. OUCH!

By god72father

It looks as if she had better lawyers then he did the first time around. Hopefully he want make the same mistake twice.

By Sue

How pathetic of a loser is she! She got enough money and still wants more. Typical, self-centered woman who will try to keep her hands in pockets for as long as possible. Move on with your life!

By Frieda

I do agree with you. She needs to just move on with her life. I am a woman and did not get squat in my settlement after 40 years. We were not rich and beautiful people. If she does get the money I hope that she is satisfied and finds some life for herself.

By JC

"Typical, self-centered woman..." written by a woman. Sad. Are you implying that many women would behave this way? I would hope not, not that I know the intricate details of their personal lives together, and therefore, can't be informed to make a judgment as so many seem to be doing. I can say, however, that 45 million would be enough for me for a lifetime and I think I'm pretty "typical" for my gender.

By harry

I couldn't agree with you more Sue...but I'm sure she hasn't been able to move on as well as she'd like, so she's hanging on to the last threads of her former life.
Apparently she's still pissed off about all those many "infidelities"....who can blame her for that?

By Paul

Yes she is one greedy rearended woman! She should move on to the next poor sapp so she can hammer him too!Funny if the money
was being pulled out of her pockets she would not feel so wonderful! Or would she ?

By Marty

Hmm. Two things. Considering how messed up "Mr." uh, Douglas' son Cameron is- from THAT marriage- I don't blame her. If anything her demands help put an end to the ole 50's myth about dumb and dumber Stepford wives- keeping their mouths forever closed. Good for HER! for making demands. Second- one seriously doubts Douglas doesn't have the mulah to give her.... Geez. Get serious.

Wednesday 14 July

By Bobby

Marty, if you're a guy, you've gotta be a queer making that type of statement in defense of women in situations like this. Their marriage is over & he left her with enough "mulah" as you put it to lead a life of luxury for the rest of her life. Her statement going after him again is "I was an insecure talentless nobody to begin with who only married you for money". Diandra is proving she would have been trailer park trash her entire life instead of make believe royalty she's attempting to prove at the expense of her ex.

By kevin

if he does indeed have the money its none of your business and none of hers. i hope the judge grants him a right to claim legal fees. enough is enough . any judge will see through her shallow attempt at revenge.

By venom

lord what a trollop another she thing looking for a handout. throw her a doogie bone.

By Renata

Trollop? She was the wife.What's wrong with you? If anyone should be insulted its him.For his disgusting behavior that let to his costly divorce. That's not to say that I think she deserves any money from this new film. I don't know the agreement they have. A judge will decide the validity of her claim.

By lauraluv896

Can you Imagine that..? 45 mill..?
Jacquline Kennedy only had 25 million when Jack died.
she was in poverty..!! LOL

By Laurie

LOL...that's true, but she parlayed that into a billionaire! Thank you Ari...

By jpollio

If it was in the divorce settlement the first time, she's entitled. Wall Street 2 is clearly a spin off of the first one, and he wouldn't have made as much money for the second time without the first one.

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