The news broke just a day after we reported that Tina had submitted the necessary financial documents in hopes of speeding up the divorce process. At the time, we couldn’t confirm whether Richard had done the same, but with this latest update, it appears that he has. The two are now officially and legally divorced. According to details obtained by Hot97 from legal documents on Thursday, neither Tina nor Richard will receive spousal support. However, Tina will be required to pay Richard a one-time lump sum of $300,000.
In addition to the monetary settlement, Richard will walk away with a 2021 Cadillac Escalade, along with the responsibility of covering all associated costs. He will also retain several bank and retirement accounts, as well as any funds and earned royalties owed to Richard Lawson Studios. Furthermore, Richard will maintain ownership of all creative works he developed during their marriage. Another provision stated,
“With respect to the mutual desire to protect the privacy rights of any and all present or future grandchildren of either party, the parties agree that they will not, when asked by any media or person, discuss said grandchildren or future grandchildren whether verbally or in writing.”
Tina, on the other hand, will keep her L.A. home, along with everything inside it. She will also retain her one-percent stake in Kirby Beauty Management LLC, as well as all creative works she produced during their marriage. Tina’s assets include a 2018 Tesla, a 2020 Bentley, and her partnership with Penguin Random House for the Matriarch Book. Additionally, she will be responsible for any credit card debt she incurred during their eight-year relationship.
The former couple has also agreed to a non-disclosure agreement (NDA), which prevents either party from speaking negatively about the other. This agreement specifically emphasizes that neither Tina nor Richard may speak ill of each other, their respective children, or grandchildren in any public forum or media outlet.
As previously reported by a news channal Tina cited irreconcilable differences as the reason for their split. She also requested that her name be legally restored to Celestine Knowles. While there’s no confirmation yet on whether her request for the name change was granted, the dissolution of their marriage is now final.
This settlement marks the end of Tina and Richard’s marriage, which lasted for eight years. During this time, both were involved in various creative and business ventures, some of which they will continue to manage independently. Tina’s retention of her home and luxury vehicles, along with her partnership with Penguin Random House, suggests that she plans to continue focusing on her work and personal projects.
Richard’s settlement allows him to retain control over his creative works and business interests, ensuring that he can continue to build on his career without interruption. The division of assets, while seemingly equitable, reflects the individual contributions and priorities each brought into their marriage.
The non-disclosure agreement is a significant part of their settlement, as it ensures that both Tina and Richard can move forward without the risk of negative public commentary affecting their reputations or relationships with their families. This clause is particularly noteworthy given the high-profile nature of their marriage and the public interest surrounding their lives.
Tina and Richard’s divorce settlement appears to be a carefully negotiated agreement that allows both parties to retain key assets while maintaining their privacy. As they each move forward, the settlement reflects a mutual desire to part ways amicably and with respect for each other’s futures. While the end of their marriage is undoubtedly a significant change, both Tina and Richard seem poised to continue their respective journeys, both personally and professionally.
