Sir Paul McCartney and Heather Mills may have fought a bitter battle over their £24 million divorce award, but a reclusive Austrian businessman has proved that, when it comes to saying goodbye, nothing beats the wallet of an oligarch.

Martin Schlaff, 54, whose wealth is estimated at more than €2 billion (£1.58 billion), is said to have paid out €200 million to his former wife in one of the biggest divorce settlements in Europe. Andrea is also poised to get his €15 million villa in an upmarket Vienna suburb, according to reports.

Mr Schlaff, 54, dubbed “Austria’s only oligarch”, is known for his excellent connections to political and business leaders, including Ariel Sharon, the former Israeli Prime Minister, who was investigated for allegations of accepting a $3 million (£1.5 million) bribe from the Austrian tycoon. Alfred Gusenbauer, the Austrian Chancellor, is also close to Mr Schlaff.

The origins of Mr Schlaff’s fortune are unclear. He has been investigated over allegations that he had done deals with the Stasi, the East German secret police during the Cold War. These days he acquires ailing Eastern European companies and brings them up to date before selling them on.

One of Mr Schlaff’s most recent large-scale deals – preparing the sale of the state telecommunications company of Belarus, Europe’s last dictatorship, to Telecom Austria – reportedly netted him more than €200 million. Other successful endeavours include buying other telecoms companies in Serbia and Bulgaria. A notable failure was his participation in the building of a casino in the West Bank, which was closed down after an outbreak of violence in 2000.

Mr Schlaff, who has a reputation as an opera lover and supporter of the arts and charities, claims not to speak to journalists “as a matter of principle”. In a rare interview, he said: “I always found challenge exciting. At the end of the day, there is only one question: how high is the risk and how high the profit from that risk?”

Details about his divorce settlement were leaked to the local press, but Mr Schlaff’s spokesman refused to confirm or deny the amount quoted. His wife Andrea, 49, received custody of their two teenage children, Joni and Naomi.

Even before his divorce, Mr Schlaff was seen at social events accompanied by various beautiful women.

Mr Schlaff’s spokesman, Michael Fink, said: “The divorce took place four months ago. That is no secret. But I cannot say anything more, as it involves the private life of Mr Schlaff. There will be no information about the private sphere of Martin Schlaff.”

Price of separation

Michael and Juanita Jordan
The couple filed for divorce in 2006 after 17 years of marriage. The total value of the settlement was $168 million (£84 million), half of the basketball star’s fortune, and included custody of their three children

Paul McCartney and Heather Mills
Heather Mills was awarded £24.3 million, plus an annual payment of £35,000, plus nanny and school costs for the daughter she had with the former Beatle

Neil Diamond and Marcia Murphey
Marcia Murphey asked for divorce after 25 years of marriage. She was awarded $150 million (£75 million), half of Neil Diamond’s fortune. The singer later said she was “worth every penny”

Mick Jagger and Jerry Hall
Though lawyers expected this to be one of the costliest divorce settlements in history, Jagger managed to limit the dent in his estimated £100 million by contesting the legality of their Hindu wedding ceremony. Hall eventually received between £7.5 million and £12.5 million

Steven Spielberg and Amy Irving
The couple divorced after nearly four years of marriage in 1989. Amy Irving received $100 million (£50 million) after contesting the terms of their prenuptial agreement

Sources: Forbes; divorceuk.com; Times archive

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