Robert De Niro says coronavirus has decimated his finances
The coronavirus has dealt a massive financial blow to the actor’s finances, he revealed in search, while his ex-wife asked for a emergency order increase the monthly credit limit on his American Express card from $ 50,000 to $ 100,000.
The ‘Irish’ actor appeared by phone on a Skype call in his Manhattan divorce case with Grace Hightower as his lawyer told a judge that From Niro unfairly reduced her monthly Am-Ex allowance from $ 100,000 to $ 50,000 and said she and their children were banned from a resort in the upstate where De Niro is staying during the pandemic.
But De Niro’s lawyers said he lowered Hightower’s credit card limit because he suffered a huge financial blow as restaurant chain Nobu and Greenwich Hotel, in which he has stakes, have been closed or partially closed for months with hardly any business.
De Niro’s lawyer Caroline Krauss told the judge Nobu lost $ 3 million in April and an additional $ 1.87 million in May. And he had to pay investors $ 500,000 on a fundraiser, which he borrowed money from his business partners to do, “because he didn’t have the cash,” Krauss said.
Krauss also explained that under their 2004 prenuptial agreement, De Niro is only required to pay Hightower a million dollars a year as long as he earns $ 15 million or more in income and his income decreases its payments proportionally.
“His accounts and his commercial manager… says the best case for Mr. De Niro if everything starts to change this year… he will be lucky if he makes $ 7.5 million this year,” Krauss said. .
Krauss added that most of Netflix’s “The Irishman” proceeds have already been paid out and will likely only earn $ 2.5 million in 2020 and 2021.
And a movie project De Niro was slated to start filming this summer in Oklahoma has been put on hold, Krauss said.
“These people, despite his solid incomes, always spent more than he earned, so this robust 76-year-old man couldn’t retire even if he wanted to because he couldn’t afford it. to meet his expenses related to his lifestyle. Krauss said, adding that De Niro had started to cut spending “dramatically”.
Hightower’s attorney, Kevin McDonough, fired back, “The idea of Mr. De Niro tightening his belt is absurd.
“Mr. De Niro used the COVID pandemic, I would say, to financially stick it to his wife,” McDonough said.
“I don’t think a man who’s admittedly worth $ 500 million and making $ 30 million a year all of a sudden in March needs to cut his expenses. [spousal support] 50 percent and ban him home, ”McDonough said.
Manhattan Supreme Court Judge Matthew Cooper has issued a temporary ruling that De Niro should keep Hightower’s credit card limit at $ 50,000 per month and pay her $ 75,000 so she can find a home in summer for their two children while De Niro and his other children remain in his three years. compound house in the north of the state.
“I’m not at this point demanding that Mr. De Niro reset the credit card to $ 100,000,” Cooper said. “$ 50,000 certainly seems sufficient to avoid irreparable harm.”
De Niro – who had been with Hightower on and off since 1997 – filed for divorce from her in 2018. The couple – who share children Helen, 8, and Elliot, 21 – divorced in 1999 and patched things up again in 2004.