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 hvccpa

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NO "Money Never Sleeps" is NOT a spinoff of Wall Street it is a SEQUEL. BIG difference. A spinoff is like when Chachi or Laverne and Shirley were started after Happy Days. Get you facts straight. Or maybe you just want to create your own facts.

By thom

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Catherine Zeta Jones would be smart to give these two losers several million each to get away and keep away from her children.
Why is it that the cost of the Hollywood divorce seems to be in direct proportion to the extent to which both parties are horse's arses? Ergo, Mel Gibson's will undoubtably be the biggest in history and probably stand as such for a century or until Hollywood as we know it is no more therefore establishes him officially as the biggest horse's arse in Hollywood history!
Finally Mel will get the recognition he deserves!

By nunya

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Go for it Diandra!!! He cheats on you during your marriage over and over again, then dumps you for Cathrine Zeta Jones????!!! He's a millionaire! Get him where it hurts!!!

By berg1928

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Yes, he is a millionaire but as she received 45 million dollars at the time of the divorce, she is also a multi millionaire.

By tee

She is just a selfish witch! and being he has his children to tend to also, she just wants to pester this man still. It's absolutely ridiculous and she should get a boot to the arse. The nerve of this frigid looking jezebel to want to torment this man as if he is responsible for her up-keep. I don't recall her being in any of those movies whether on or off camera she is not entitled to nothing but a solid smack to get some sense.

By mjm12

If it is in the divorce record, she deserves it. He played and he should pay! Prior to the divorce he was recognized as a loving father and husband. He created his own problems! A cheater!!!

By HRC

Bravo. Finally- The truth. Cheaters (husbands AND/or wives) are devils masquarading as smiley, publiciy hound frontment con artists. This lady deserves all the wrath she can give this guy. He lost my respect years ago- as a family man. As an actor? Just ok. I don't blame her- one bit. The guy - is a shill.

By Stephenf

I have to ask, were you one of the affairs? Maybe you just watched them, if there were any afairs. Leave it to the lawyers, it is hardly any of your business or mine. It is fun to put you down for putting down others. Lucky for me, I am not married to you!

By FernLaw

The crazy woman is NOT "due" forever. That's one of the reasons folks split up. Sour grapes here..........

By seavet1

First it is shocking there was no prenuptial agreement to protect him. Second Douglas is an arrogant spoiled brat who very much mirrors the character Gordon Gekko . I am sure neither he nor his exwife have any parenting skills, it is Zeta Jones who is the stabilizing force with her kids.

By jim

Just for the record: a spin-off would be Frasier from Cheers, Joanie loves Chachi from Happy Days. This is a sequel!

By Cynthia

Excuse Me!!! But who cannot live on 45 million, she does not even have children to support. If that and two homes is not sufficient, then get a job. Or find another sucker who will support you.

By manmansdaddy

yes yes yes yesyes would you tell the world again please 45 mill no kids did she ever wash dishes do clothes not b*tch probley never mad a pop tart in her 23 yrs

By carol Hock

Greed-45 mil Is not enough? wow keep me going forever......

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hell yeaaaaa spend some in the after life also

By chad

Typical women.Never satisfied with what she has. 45 Million is not enough. She is called greed from mthe word go.Selfish Selfish.Real con she is......

By Richard

I think She Should Milk Him for every Cent she can Legally get the (Keyword) being Legally. Contracts were made to protect peoples rights on both sides of the isle, she was just alert enough, to make it work for her. The fact that she has 45 million already is irrelevant, is she had a 50 Billion the contract would still be enforceable.

By CRAZYMAN

All that money just because she had the vagina.....

no kids so it didnt work that good ; her suck game must be the bomb haaaaaaaaaa

By Hi,Fuzzy

and all that plus a dirty penis too!!!

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