After exchanging vows on April 12, 2015, on a yacht in Newport Beach, California, the former couple went on to share eight years of marriage.
Tina Knowles and Richard Lawson have reached a settlement agreement in their divorce, nearly 13 months after she filed in July 2023.
After eight years of marriage, Knowles, 70, the mother of superstars Beyoncé and Solange Knowles, filed for divorce from the actor, 77, in the Superior Court of the State of California for the County of Los Angeles on July 26, 2023.
The settlement obtained was based on “irreconcilable differences” between the former couple, who exchanged vows onboard a yacht in Newport Beach, Calif., on April 12, 2015. The document additionally stated that the “irremediable breakdown of the marriage [made] it impossible for the parties to live together as husband and wife.”
While both parties waived their right to spousal support, Knowles agreed to give Lawson a one-time payment of $300,000, representing “a full and complete settlement of all interest that Respondent has acquired during marriage in the community property of the parties as well as his obligation on any and all community debts.”
Lawson was also awarded a 2021 Cadillac Escalade, the right to all revenues acquired since their date of separation, funds acquired by Richard Lawson Studios Inc., his SAG pension plan, royalties, creative works made during their union, and personal belongings, including apparel and jewelry.
Knowles was granted the privilege of maintaining a property in Los Angeles and a distinct property in Texas, in addition to “all furniture, furnishings, appliances, artwork, and personal effects” at both locations.
Like Lawson, she also gets to all earnings acquired since their date of separation and creative works generated during their time together.
In addition, the fashion designer is entitled to retain a 1 percent interest in Kirby Beauty Management LLC, a 2018 Tesla, a 2020 Bentley, and the Matriarch Book “deal” with Penguin Random House.
Within the settlement, the former couple also agreed to a “non-disparagement agreement,” in which they “acknowledge their intent to resolve all issues in their dissolution amicably” by agreeing to agree on any statements made about their divorce mutually and will not speak ill about their children, grandchildren, and their spouses.
