Fashion mogul facing £700m divorce battle with wife of 45 years

No Fault Divorce Bill second reading is postponed

A British business tycoon is in line for a £700 million divorce battle following a split with his wife of 45 years.

Richard Caring, famous for creating a fashion, restaurant and nightclub empire, may be forced to share half his wealth with former wife, Jacqueline Stead.

An insider source said: “He’s under no illusions. Splitting up and starting a new life will be costly.

“But he’s so wealthy his standard of living won’t drop by a millimetre. He can afford to do what he wants.”

The couple’s North London mansion, complete with 55-foot ballroom, masterpieces by Degas and Matisse, a cinema, and a lake, is said to be at the centre of the dispute.

Mr Caring, who has two children with Ms Stead, also owns the Ivy in West London and a 50-acre shooter estate in Somerset.

The 68-year-old is now living in a £32 million mansion with new partner, Patrica Mondinni.

A spokesperson for Mr Caring said: “Richard left Jacqui in February and is very happy with Patricia now.

“They had been living apart for some time before the split. He remains close to his ex but decided the time was right to move on.”

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