Linda Evangelista and Francois-Henri Pinault have reached an agreement to end their contentious, public child support fight, their lawyers said Monday.
The supermodel and billionaire French businessman did not reveal the terms of their agreement, nor did their attorneys after the terms were struck.
“Everybody is very glad that it’s over,” Pinault lawyer David Aronson said.
The settlement came in the midst of a trial over how much, if anything, Pinault should pay toward the care of the former couple's 5-year-old son.
Pinault is the CEO of a company that owns Gucci, Yves St. Laurent and other top-flight fashion lines; he’s now married to actress Salma Hayek.
Both Pinault and Evangelista testified, answering questions that delved into her career, his high-flying finances and his relationship with the boy.
Linda Evangelista had been due to continue testifying yesterday.
The two sides negotiated all weekend and into Monday morning, following the start of the trial last week in which she made explosive allegations.In legal papers, Evangelista had said she was spending $46,000 a month on armed bodyguards, a 24-hour-a-day nanny and other expenses.
He was born in 2006 after a four-month relationship. Francois-Henri Pinault said he and Evangelista spent only about seven days together in all.
Evangelista’s lawyer said she willingly paid all the child’s expenses at first, back when she was making seven figures, but she now needs help.
Attorney William Beslow said her roughly $1.8 million-a-year income sank last year because a major endorsement contract with L’Oreal ended.
“Ms. Evangelista is not looking to piggyback the lifestyle of Mr. Pinault,” Beslow said last week. He said she wasn’t asking for any particular amount.
As part of the family behind luxury-brands conglomerate PPR, Pinault makes about $4 million a year, and Forbes estimates his net worth at $13 billion.