While he doesn’t want to pay $46,000 a month in child support for son, 5-year-old Augustin, known as Augie, because he sees much of it as “mom support” for Linda, he has repeatedly tried to reach a child support agreement, to no avail.
Linda Evangelista Child Support Settlement — Billionaire Dad Cheaps Out
“Augie will never want for anything. He will go to the best schools and have the best health care and Francois is already paying for all this now. His only concern is for Augie,” a Pinault insider tells HollywoodLife.com.
“No matter what happens in this trial, Francois will always have an incredibly close relationship with his son. He’s loved him ever since he was expecting him,” says the insider who insists that contrary to Evangelista’s bombshell claim in court – he never asked her to terminate her pregnancy.
While it’s been reported that Pinault has not been interested in paying child support, the insider says that the French businessman, who is married to superstar actress, Salma Hayek, 45, contacted Linda’s attorney after Augie was born and tried to work out a child support agreement. Hollywoodlife.com has learned that her attorney made a proposal, which Pinault thought was too high. He countered that proposal and then received no definitive response for three years. When Linda hired a new attorney, William Beslow in 2010, Pinault’s attorney again reached out trying to formalize child support. Beslow responded with an agreement which included both child support for Augie, as well as requests for Linda. When Pinault didn’t accept that “settlement,” Evangelista filed suit.
“The trial is a last resort. Francois doesn’t want to put his son through it or go through it himself , but Linda Evangelista’s demands weren’t reasonable. They didn’t pass the smell test,” says the insider.
The largest child support settlement ever awarded in New York state, where Evangelista lives, thus far has been for $19 thousand a month, to Sean (P Diddy) Combs‘ ex, Misa Hylton-Byrn for support of their son, Justin, now 18.
While Pinault is the heir to a family fortune of $11.5 billion, he has no access to those funds, according to the insider. He lives on his $4-$5 million salary as CEO of Pinault-Printemps-Redoute, which owns Gucci, Yves Saint Laurent and more. While that is a huge amount, the insider contends that $46,000 a month is a quarter of Pinault’s post-tax take home pay.
However, Evangelista doesn’t have to worry about her son being taken care of in Pinault’s estate. According to French law, he will inherit the exact same amount as Pinault’s three other children including his younger half sister, Valentina, 4, who’s mom is Salma Hayek.
What’s being contested in court are expenses like the $15,000-$16,000 a month in charges for car service and security, $7500 a month for vacations and the cost of an extra apartment to be rented near Augie’s school, so he can have play dates there.
What’s so sad here is that, relations between Evangelista and Pinault have been good enough until now, for Pinault to see his son several times a year – every time he is in NYC, for Salma and Valentina to have play dates with Augie and for Pinault to call Evangelista an “excellent mother” in court.
Now, however, the disturbing accusation was made in court by Linda’s lawyer, that Pinault wanted Evangelista to terminate her pregnancy . While the insider insists to Hollywoodlife.com that Pinault never said or wanted that, little Augie, will read that accusation one day. Meanwhile, Pinault is apparently looking forward to the trial ending on Tuesday, so he can see his son, before he goes back to Paris.
The magistrate’s decision on support could come at the end of testimony on Tuesday, May 8, or could take months.
What do you think Hollywoodlifers – is $46 thousand a month in child support absurd for a billionaire’s son? Tell me now and vote!
More Linda Evangelista:
- Linda Evangelista Billionaire Baby Daddy: Doesn’t Want Son Used As A Pawn In Court
- Linda Evangelista’s Baby Daddy Spent Thousands On Self, But Forgot Son’s Birthday Gift
- Salma Hayek’s Billionaire Husband Needs To Pay Child Support for Son With Supermodel Linda Evangelista