PALM BEACH — Palm Beacher S. Daniel Abraham, the founder of SlimFast and a sugar daddy of the local Democratic Party, is entangled in an ugly battle with ex-wife Estanne over $1 billion he set aside in trusts for the couple’s four daughters.
Abraham, 91, who owns six condos at Palm Beach Tower and The Biltmore worth a combined $10 million according to Palm Beach County property records, recently walked out of negotiations to remove Estanne as trustee of the daughters billion.
The battle is now headed to court in Mahattan, the New York Post reports.
Abraham, who sold his diet shake company in 2000 for $2.3 billion then became a generous donor to Palm Beach County Democrats running for office, divorced Estanne in 1993 but made her a trustee of the funds.
Abraham now accuses his ex, a well-known socialite in these parts, of mismanaging the trusts and trying to grab her own cut.
Then he, AND THEIR CHILDREN, launched an effort to yank Estanne as trustee.
The New York tabloid reports today Estanne argues she’s doing fine managing the money along with her new husband, and she’s paid the daughters more than $774 MILLION in the past 11 years.
Despite it all, she claims three of the four daughters actually borrowed $35 million from the trusts — and their attempts to remove her are to ensure they can gain access to even more cash.
Why bother with the courts?
A vote for presidential candidate Bernie Sanders, who promises to make the rich pay enough taxes, might settle this feud swiftly!
[/vc_column_text][vc_message message_box_style=”3d” message_box_color=”turquoise”]By Jose Lambiet, GossipExtra.com, SouthFloridaReporter.com, Mar. 18, 2016
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