One of the richest men on the planet just suffered a pretty large dent in his wallet.

Horse racing mogul Sheikh Mohammed has been ordered to pay his ex-wife a whopping $1 billion as the couple finally go their seperate ways.

The hefty payment is actually Britain’s biggest ever divorce settlement, surpassing the $830 million awarded to Tatiana Akhmedova following her split from Russian businessman Farkhad Akhmedov.

Various reports suggest Sheikh Mohammed’s estimated worth is around $5.5 billion.

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It’s understood the rulers of Dubai split up back in 2019, having been married for 16 years.

Now 72-year-old Mohammed – who is also the boss of global horse racing company Godolphin – has had a 73-page court document slid onto his desk, telling him to cough up an extortionate amount of cash.

To break it down, Princess Haya – who is 25 years younger than her ex-husband – will receive $465 million up front as well as $540 million which covers costs for their children until they are adults.

Plus there’s a load of other annual multi-million-dollar payments which covers anything from staff to animals

As Dubai rulers, the High Court documents revealed just how lavish their lifestyle was.

The Princess was reportedly given $150 million a year for household spending alone, while the Sheikh’s kids were granted unprecedented access to his $560 million super-yacht and custom Boeing 747 airplane.

She even spent $3.7 million on strawberries in one summer alone.

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