February 4, 2013 by Billionaire Addresses
February 2013 – The billionaire co-founder of Home Depot and owner of the Atlanta Falcons is being divorced by his wife of 16 years, according to reports.
Arthur Blank, who has been estranged from his wife since October 2011, has been finally hit with divorce papers. The papers filed in Fulton County, Georgia, say the union has been ‘irretrievably broken’ with Stephanie Blank, the mother of the Blank’s three children and 25 years his junior.
The parties have privately agreed to the details of their official break.
The confidential deal means it may never be revealed how much Stephanie Blank is set to receive of her husband’s reported $1.3 billion fortune.
According to the report the couple have also drafted a “comprehensive parenting plan” to ensure they are both involved in raising their three school-age children – a teenage boy and two younger boy-girl twins.
The divorce comes on the back of a disappointing year for Blank whose NFL side lost to the 49ers in this year’s NFC Championship Game.
A statement released via The Arthur M. Blank Family Foundation said they would ‘remain great friends’.
The separation would have no effect on Blank’s business enterprises, the statement said. The secret divorce deal is said to cover all areas including the couple’s Buckhead home in Atlanta, GA.
Blank founded Home Depot alongside Bernard Marcus when the two were fired as Vice President of Finance and CEO respectively. He has been a major U.S. philanthropist giving away $250 million to charity via his foundation and signing The Giving Pledge, vowing to give away a least 50 per cent of his wealth to charity. The foundation has focused on helping young people across Georgia.
Blank bought the NFL Falcons in 2002.
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