Dubai ruler must pay ex-wife $700M in divorce

LONDON » A British court has ordered the ruler of Dubai to pay his ex-wife and their children close to $730 million, in one of the most expensive divorce settlements in British history.

A High Court judge said Sheikh Mohammed bin Rashid Al Maktoum must pay 251.5 million pounds to his U.k.based sixth wife, Princess Haya Bint Al Hussein, and make ongoing payments for their children Jalila, 14, and Zayed, 9, underpinned by a bank guarantee of 290 million pounds.

The total amount the children receive could be more or less than 290 million pounds, depending on factors including how long they live and whether they reconcile with their father.

The settlement includes 11 million pounds a year to cover security costs for Princess Haya and the children while they are minors.