Madonna settles divorce for up to $92 million

Mon Dec 15, 2008 2:29pm EST
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NEW YORK (Reuters) - Madonna has paid her ex-husband British director Guy Ritchie up to 60 million pounds ($92 million) to settle their divorce after eight years of marriage, her spokeswoman said on Monday.

Liz Rosenberg said the singer, 50, had given Ritchie, 40, between 50 and 60 million pounds ($76 million and $92 million) as part of their divorce, which was granted by a British court on November 21.

She said that sum includes the couple's English country estate, Ashcombe, which is valued at about 20 million pounds ($30 million).

The couple's combined wealth has been estimated at about $525 million, but Madonna accounts for most of it.

Rosenberg said custody arrangements for the couple's children have not been finalized.

Madonna and Ritchie have an 8-year-old son, Rocco, and 3-year-old son David, adopted from Malawi. The singer also has a daughter Lourdes, born in 1996, from her relationship with fitness trainer Carlos Leon.

Madonna, one of the most successful singers of all time with estimated album sales of more than 200 million, was married once before, to actor Sean Penn, in the 1980s.

Madonna and Ritchie announced their split in October, nearly eight years after their fairytale wedding at Skibo Castle in Scotland.

Ritchie is a British film director who is making Hollywood blockbuster "Sherlock Holmes" starring Robert Downey Jr. as the Victorian-era super sleuth.

(Reporting by Michelle Nichols, Editing by Sandra Maler)

<p>Singer Madonna and director husband Guy Ritchie arrive on the red carpet at the 61st Cannes Film Festival in this May 21, 2008 file photo. REUTERS/Eric Gaillard/Files</p>