Robert De Niro Suffers Huge Financial Losses Due To COVID-19 - 8 Days Skip to main content

Robert De Niro Suffers Huge Financial Losses Due To COVID-19

The Oscar-winning actor has scaled back on spending "dramatically" amid the coronavirus pandemic.

Robert De Niro Suffers Huge Financial Losses Due To COVID-19

Robert De Niro has claimed he's suffered a financial hit because of the coronavirus pandemic.

The Hollywood star has opened up about his finances in court after his estranged wife Grace Hightower requested an emergency order to raise her monthly credit limit from US$50,000 to US$100,000 (S$70,000-S$140,000).

He appeared in court via a Skype call, and his lawyers said he halved her credit card limit after restaurant chain Nobu and Greenwich Hotel — which he has stakes in — were closed or partially closed for months during the health crisis.

His lawyer Caroline Krauss told the judge that the restaurant chain lost US$3 million in April and a further US$1.87 million the next month.

She added that De Niro's 2004 prenuptial agreement with Hightower only requires him to pay US$1 million a year if it's earning US$15 million or more, and his payments would decline proportionally with his income.

She said: "His accounts and business manager ... says that the best case for Mr. De Niro, if everything starts to turn around this year... he is going to be lucky if he makes $7.5 million this year."

She added the 76-year-old star has cut back spending "dramatically", while pointing to a postponed movie project which was set to film this summer before the pandemic.

Manhattan Supreme Court Justice Matthew Cooper has issued a temporary ruling, allowing De Niro to keep his estranged wife's credit card limit at US$50,000 a month.

However, he will also have to pay her US$75,000 to help her find a summer home for their two children while he and his other kids remain in his three-home compound.

The judge added: "I am not requiring at this point that Mr. De Niro restore the credit card to $100,000.

"$50,000 seems to be certainly enough to avoid irreparable harm."— BANG

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