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 kathy

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I meant not New York, instead of California and New York. Excuse the mistake.

By Manopener

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He should just be grateful to be rid of that used up Hollywood adventuress no matter what it costs, he certainly wouldn't want any more spawn by that. He should be grateful he found a lovely young virgin like Catherine Zeta Jones to enrich his sunset years. I wonder how she can bear to touch that grizzled skin?

By DIANE

michael D. better be cool in this marriage, cause i don't think he will have 2 cents to rub together if CATHERINE-ZETA-JONES goes after him. lol

By Evil Jack

Hey - I thought - "GREED IS GOOD". Perhaps Mr. Douglas may want to qualify his characters' statement now.

By steve

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Damn golddiggers

By Thinkingaboutit

Need the name of her attorney.......:)

By bestbunny10

Geedy Greedy Greedy...Poor woman cant live on 45 million...Get over it. No wonder their son is all messed up.

By AP

Get a LIFE!!!

By TERE

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WHEN A MAN INSISTS ON MARRYING VERY YOUNG WOMEN HE IS ENTRUSTED WITH THEIR WELL BEING FOR THE LENGTH OF THE LIFE OF THE YOUNGSTER. HE NEEDS TO PAY UP. HE CAN WELL AFFORD IT AND SHE NEEDS IT TO SUPPORT HIS WORTHLESS SON.

By James E. Miller

People you are missing the point. It is not a spinoff it is a sequel. Spinoffs ie from All In the Family (Maude and The Jeffersons). They were not sequels, there is a difference.

By Jim

Women are their own worse enemy. Why would a man get married today ? Did she make any of those movies ? Did Elin Woods make any of those putts ? Sure, after years of marriage you can't just leave them empty handed, but it's NEVER the other way, is it ? Women wonder why they can't " catch " a man, or why they can't get their current boyfriend to ask them to marry them. Well I bet if you say " I'll sign a pre-nup to NEVER get any of your stuff" it might happen, until then guys - RUN LIKE HELL !!!!!!!!!!!

I WONDER OFTEN HOW ANYT WOMAN COULD STAND THIS OLD MANS ICKY TOUCH

By Sue

Seems to me like she's a jealous old bag. Move on with your life. Hey here's a thought why doesn't she trying acting and make some of her own money. He cheated on her so what. I'm sure she wasn't worth 45 Million. It's makes her seem like a prostitute. YUCK

By Geraldyne

In my opinion, the ex-wife should sell one of the houses instead of pestering Michael Douglas. I hope it gets thrown out.

By Mitch

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Uh....spin-off is not the same as sequel. She won't get a dime.

How dare he talk publically about her mothering skills and not mention that he was also at fault.All the money in the world does'nt always mean that you live in a healthy environment.Obviously they were both lacking in parental skills.Maybe the statement that he made about her poor mothering skills and going so far as to blame her parents for them is the very reason why she is taking it this far.Put the blame where it belongs,equally split between both parents.Ridiculing and blaming publically provoked her to fight back, what better way is there? what other alternatives does she have?

By MAGOOS

This greedy, hate filled ex wife does not deserve one cent of Douglas's new movie; it has been made years after she walked with 45 million. How much does this sad sack crone want or more to the point how much does her avaricious lawyer shark want out of it?
Fight it, Michael, you have paid your dues to this woman. You have your present family to care for and your ex is just that.

By manmansdaddy

what sorry but ahhhhhhhhhh what child goes through 45 mill thats alot of pampers and milk he eats that much she eats that much need to go on a diet or change your life style damn near the city budget hell are you talking about thats a lot of cash

By Sarah

Jealousy is ugly.

By Domenick D

This is why no one wants to get married. Because the whole thing is about the money, I think we should have a contract for hire and not to get married. what did she bring into the relationship Sex?

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