Sylvester Stallone and Jennifer Flavin have filed for divorce after 25 years of marriage. Jennifer Flavin filed for divorce on August 19 from her spouse of 25 years, Sylvester Stallone. In her petition, she claimed that the 76-year-old actor “engaged in the purposeful dissipation, depletion, and/or waste of marital assets,” which had a negative economic impact on the marital estate.
According to Florida divorce law, the charge pertains to a spouse’s excessive spending or borrowing. Flavin demands in the paperwork that “the Husband be prohibited from selling, transferring, assigning, encumbering, or dissipating any assets during this proceeding’s pendency.” Due to Stallone’s claimed “wasting,” she also requests an “unequal allocation of marital assets in her favor.”
Sylvester Stallone‘s representative did not respond to a request for comment on Flavin’s allegations. Stallone issued a statement on Wednesday stating: “I cherish my family. These personal matters are being discussed calmly and in private.”
Some estimates place the couple’s riches at hundreds of millions of dollars, which includes expensive real estate. According to court filings, in 2020 the Stallones purchased a $35 million estate in Palm Beach, Florida, which became their primary residence. The waterfront property contains a two-story main house, a guest house, and more than 13,000 square feet of living space, according to the Palm Beach Daily News.
Jennifer Flavin, who stated in her divorce petition that the couple also owns another unidentified California house, is requesting “exclusive use and occupancy” of the marital residence, arguing that such an arrangement is “in the best interests of both parties.”
Six months ago, they sold their 21,000 sq. ft. estate in L.A.’s prestigious Beverly Park gated community, which, according to the Los Angeles Times, had eight bedrooms, two bathrooms, and a two-story foyer, after cutting the asking price by $80 million. The buyer (Adele) nonetheless paid a staggering $58 million for the property.
Stallone, a longstanding producer, director, and actor, and Flavin, an entrepreneur, and former model, both have lucrative occupations outside of their real estate holdings.
Variety reported recently that Stallone’s next Paramount+ series Tulsa King, which is now in production in Oklahoma, earns approximately $1 million per episode.
The star of massive blockbusters such as Rocky and Cliffhanger has earned multimillion-dollar salaries for decades. According to The New York Times, he made $3.5 million for the release of the first Rambo film, First Blood, forty years ago. Since then, his asking price has increased significantly, and he has worked as a producer on hits such as 2015’s Creed. His new film, Samaritan, is released this Friday.
Flavin, who launched Serious Skincare in 1995, has experienced success in the beauty industry. According to an Evine news release, her product line, which has been marketed on HSN and Evine Live, surpassed $2 billion in sales in 2019 since its introduction to the market.
Flavin told PEOPLE on Wednesday, in an exclusive statement, “I regret to report that after 25 years of marriage to Sylvester Stallone, I have filed for divorce. Despite the fact that we will no longer be married, I will always cherish our more than 30-year relationship, and I am confident that we are both committed to our beautiful girls. I request privacy for our family as we move forward respectfully.”