David Beador's Divorce Impacted His Net Worth By A Million And More
A successful businessman and an alum of The Real Housewives of Orange County (RHOC), David Beador, was married to Shannon Beador for over 17 years until they decided to part ways for good. The couple took over a year and a half to finally agree on the financial terms and reach the divorce settlement.
Despite the hefty divorce settlement, David Beador seems to be doing just fine, or at least that’s what his net worth says!
What Caused David and Shannon Beador’s Divorce?
David and Shannon Beador got married back in 2000. Together they share three children—18-year-old Sophie and twins Adeline and Stella, who are 16.
After being together for 17 years, the couple decided to part ways. During their relationship as a husband and wife, the pair went through many ups and downs, which was often documented by Shannon while on RHOC. She even revealed that David had been unfaithful to her as she learned about his extramarital affair.
However, David and Shannon were determined to mend their relationship. They even went through therapy and open dialogue with their family to repair their marriage. All these efforts brought their marriage back on track leading to David surprising her with a vow renewal ceremony in the exact same place where David proposed to Shannon, and they exchanged their wedding vows.
Despite all the efforts, the couple could not continue their married life. According to Shannon, David allegedly “checked out” of their marriage. So in December of 2017, Shannon filed for divorce in Orange County Superior Court.
It Took One and a Half Years to Settle David Beador and Shanon B the Divorce
One and a half years after Shanon filed fo their divorce, the couple finally agreed on their financial terms in April 2019. As per the documents obtained by The Blast, David awarded Shannon $1.4 million as their divorce settlement along with $10,000 monthly support.
In terms of possession, the court also decided that Shanon would retain her bank accounts, hour furnishing in her possession, a BMW series sedan, a 2015 Cadilac Escalade, whereas Shanon would keep Beador Construction Company, house furnishing in his possession, seven vehicles, and property near Corona.
As stated in the documents, David agreed to pay the price “to equalize the division of community property as set forth herein.” They even agreed on joint custody of their three daughters.
Adding to it, David was also asked to pay $2,935 plus $7,065 each month as a monthly child and spousal support, which was agreed to be paid for 10 years starting from May 2019. Also, as per the documents, David will “maintain health insurance coverage” for their children.
David Splurged a Fortune on a Diamond Ring for Fiance in 2020
Months after Shannon filed for the divorce, David started dating Lesley Cook. They formally began their relationship in 2018, and after being together for almost two years, HE proposed Lesley in February 2020. He purchased a 4-6 carat diamond ring for his girlfriend after finalizing his divorce with Shannon.
The ring is estimated to be worth between $150,000 to $300,000.
What is David Beador’s Net Worth?
The American entrepreneur, David Beador, is said to have had a net worth of $20 million before his divorce settlement with former wife, Shannon Beador. As mentioned earlier, the settlement cost him more than a million, along with $10,000 child and spousal support to be paid each month.
Even though his divorce settlement involved massive figures, he still managed to showcase huge spending on the engagement ring for his girlfriend turned fiancé, Lesley. Turns out, the founder and owner of Beador Construction Company, Inc, David, has his business working out well for him. After all, his company Beador Construction Company, Inc, has an annual revenue of $22.24 million.