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Morgan Freeman Allegedly Giving Ex-Wife $400 Million Settlement: Probably Not, For These Reasons

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The National Enquirer is causing a stir online because of their alleged finding that Morgan Freeman's ex-wife, Myrna Colley-Lee, will receive a $400 million settlement as part of the terms of their divorce. Even though this report has not been substantiated by a confirmation from anyone within the Freeman family, many popular sites such as Bossip.com are already discussing the alleged settlement in depth. BlackVoices.com invites our readers to keep an open mind, and wait for the final word of truth on Morgan Freeman's settlement with his ex-wife. At the same time, the fascination over celebrity divorce settlements is so acute in our era, we feel that this topic alone is something worthy of being addressed. What is it about the alleged $400 million settlement that millions of people are finding so interesting, even though this fact is not at all substantiated?

We saw the same morbid fascination with celebrity divorce settlements when Tiger Woods' head was on the chopping block over numerous affairs perpetrated against his unsuspecting wife. There were even rumors that Elin was asking for $750 million that circulated like wildfire. This of course threw people into an outrage -- on both sides of the fences -- because $750 million is $150 million more than many believe Tiger Woods has in cash on hand. The thought that Elin could ask for such a sum seemed crazy to many people who didn't see her as deserving of Tiger's total fortune and more. But those who sided with her as the scorned, faithful wife believed wholeheartedly that she deserved every penny she could get out of Woods for cheating so much.


In the end, the press reported that Elin received $100 million -- but in the end, no one really knows. The truth is that a dollar amount was never released to the press. Yet, the press had to say something to appease the hungry maw of the masses who wanted to desperately know the end to their riveting story.

The truth is that divorce is a private affair. Families have the right to keep settlement amounts private. At the same time, when a high-profile celebrity has a divorce that involves scandalous cheating, that divorce settlement is going to take on the tenor of international breaking news. The divorce has all the elements of a soap opera. The settlement represents the drama's final act.

In the case of Morgan Freeman, his alleged affair with his step-granddaughter, E'Dena Hines (pictured above is actress Serena Reeder), which is alleged to have gone on for ten years, is a piece of juicy gossip that almost no one can resist. This totally unsubstantiated tidbit is what makes the alleged settlement of Morgan Freeman's ex-wife so alluring and interesting -- even though this $400 million amount has not been proven as a fact.


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Even though the National Enquirer is the source of this story, there is one part of their reporting about the settlement that I absolutely do believe: That "the details were sealed from the public by a Tallahatchie County judge" (National Enquirer). That being the case, the only way to know for sure what amount Morgan Freeman paid in his settlement to his ex-wife is to hear it from that ex-wife, Myrna Colley-Lee. That day may come, but for now all we have is speculation. And as we speculate, there are other realistic factors to consider.

The first question of course is: Does Morgan Freeman even have $400 million? The site Celebritynetworth.com lists his net worth as $90 million. Not a great source, but the only one out there. Looking at IMDb.com, we see that Freeman makes three or four movies a year, and has for some time, going back to 1978. While 1978 was way before the era of massive compensation for Hollywood stars, this means that Morgan Freeman has been amassing large amounts of income for a long time. A 1996 article from Jet magazine lists Freeman's salary as $5-6 million per film, giving an interesting median for the span of films over the course of his 32-year career as a star. So let's say as a low-ball estimate that, earning an average of $15 million a year, times 32 years, Freeman has earned $492 million. Managed well, it might be more. But it might not. Stars have to pay taxes like everyone else, and in addition agents, managers and other staff. They also lead very expensive lifestyles. As we saw in the case of Nicolas Cage, there is no way to tell how much celebrities are spending.

So the fact is we have no idea how well Morgan Freeman has managed his money, or exactly how much he has earned without asking him. People may have asked, but he has not often told reputable news sources. Is it possible that a judge awarded Myrna Colley-Lee $400 million of Morgan Freeman's roughly gestimated $500 million, if he still has it? Possibly, but probably not. There is just no way to know.

The only way we will know is if and when we get the story from Morgan Freeman or Myrna Colley-Lee. Until then, we can continue enjoying the soap opera of their lives. It is a crazy story. But this is just a reality check -- we don't really know, and given the facts out there, the $400 million amount might not be true.

 

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