Divorce Settlement Details {Updated}

Forewarned, the following is a bit distasteful, but you’ve got to love TMZ . . .

The woman who’s divorcing PayPal founder Elon Musk is getting $4.2 million in their divorce … which is great … until you remember he’s reportedly worth $680 MILLION.

TMZ has obtained the divorce docs filed in L.A. County Superior Court, in which actress Talulah Riley agreed to a settlement with her soon-to-be ex-husband … whom she married in Sept. 2010 … and then separated from in July 2011.

According to the docs, Riley gets to keep her Cartier watch, her Gucci watch, some diamond jewelry and her Tesla Roadster.

The $4.2 million will be dished out over a 9-year span … she got $500k up front … and an additional $900k right after her lawyers signed the judgement documents.

Now, the fun begins … because Talulah gets $700k on the 1-year anniversary of the signing of the judgement … followed by a $280k annual payment for years 2 through 8. On the 9th anniversary, she gets a final payment of $140k.

According to the documents, the divorce will become official on September 27.

No word on how Elon plans to make the payments … we’re guessing it won’t be through PayPal. {tmz.com}

British actress Talulah Riley is set to get $4.2 million (`23.27 crore) in her divorce from PayPal founder and Silicon Valley golden boy Elon Musk.

The sum’s not bad for the 26-year-old actress, considering their marriage lasted just two years.

The divorce deal looks a little less generous in light of Musk’s net worth though, which is an estimated $2 billion (Rs11,095 crore) – the result of a fantastically successful career in the tech industry.

Payoff: Talulah Riley, 26, was with billionaire playboy Elon Musk, 41, for four years. They were married for two years, but separated after just 10 months of marriage

Musk – whom the New York Times called ‘Tony Stark without the Iron Man suit’ – is paying off his second wife over the course of nine years, TMZ reported.

But, in the interim, Riley gets to keep her Cartier and Gucci watches, an assortment of diamond jewellery and her $110,000 Tesla Roadster. She received $1.4 million up front as an initial payoff, according to court documents.

Musk, a South African who attended the University of Pennsylvania, made his fortune by founding a series of highly successful ventures – beginning with Zip2, which produced online content publishing software that was purchased in 1999 for nearly $340 million.

Later, for his next venture, Musk helped create PayPal, the online money transfer and payment service.

Ebay bought PayPal for $1.2 billion in 2002. Musk founded Space X later that year – an outer space exploration company.

In 2009, the company launched the first privately owned liquid-fuelled rocket ever to enter space.

Space X now has a contract to deliver cargo to the International Space Station that is worth between $1.6-$3.1 billion.

Musk also founded Tesla Motors, an electric car company that had a $226 million initial public offering in 2010. For all his wealth, Riley seems content with the $4.2 million figure.

Her lawyers haven’t contested the offer from Musk, age 41 – which amounts to a little more than pocket change for a man who spends a reported $200,000 a month on personal expenses.

In 2010, Musk finalised the divorce with his first wife, Canadian fantasy novelist Justine Musk, who is the mother of his two sons.

He had been with Riley for four years before they separated in July 2011. {dailymail.co.uk}