Reese Witherspoon Managed to Make Money as a Result of Her Divorce From Ryan Phillippe
Actor Reese Witherspoon is known for her incredible movie and TV roles. But she’s had plenty of personal drama through the years. She was married to Ryan Phillippe in the early 2000s, but they couldn’t make their marriage last.
Now, both Phillippe and Witherspoon have moved on. But it seems she was actually able to make some money thanks to a home she and Phillippe once shared. Here’s what happened.
Reese Witherspoon and Ryan Phillippe said their young age was the reason they divorced
Marriage is tough — and it’s particularly tough on two young Hollywood stars. Witherspoon met Phillippe back in 1998 when she was just 21 years old.
“I met him at my 21st birthday party,” Witherspoon told Jane Magazine. “I don’t know what came over me – maybe the seven Midori sours – but I told him, ‘I think you’re my birthday present.’ He thought it was so flattering, and now that I think about it … how embarrassing!”
The couple was engaged a year after the first meeting, and they tied the knot in 1999. But by the early 2000s, everything went downhill. Phillippe later told the New York Daily News that one of his biggest mistakes was not putting in enough effort and not going to couple’s therapy.
“The biggest mistake is not doing that, ignoring it and having the marriage fall apart because of laziness,” he said. “When we got together we were so young. I think it can create issues with two people in this industry because there’s so much noise that goes along with it.”
Witherspoon managed to make money post-divorce from Phillippe
It doesn’t seem like Witherspoon and Phillippe ended their relationship on poor terms, as they still co-parent their children. And they both managed to make a little bit of money after the divorce as well.
According to Forbes, Witherspoon and Phillippe had a four-bedroom, four-bathroom, 2,664 square-foot duplex in Los Angeles. And they finally sold it in 2014, several years after their divorce.
The couple originally purchased the beautiful home in 2005 for $1,173,500. They held on to the property for years before enlisting it for $1,395,000 in 2013. Just 18 days after listing, they were able to sell the place for $1,440,000. This resulted in a $266,500 profit for the exes.
We’re not sure how they managed to split the money between them, but it’s safe to assume they were able to divvy it up fairly between the both of them.
Witherspoon lost nearly $1 million on a house sale later on
While Witherspoon and Phillippe were able to profit off of selling their joint home, that hasn’t always been the case for both of them. Business Insider notes Witherspoon took a massive hit on a nine-bedroom, seven-bathroom home sale in 2013.
The publication notes the actor listed her home in Ojai, California, for $10 million back in 2012, and it even appeared in Elle Decor. Unfortunately, Witherspoon had a tough time getting the place to sell. She finally sold the home a year after dropping the price down to $5.9 million. Even with the massive drop, she only managed to sell it at $4,983,500, with a total loss of over $800,000. Witherspoon originally bought the property for $5.8 million.
Despite the massive price loss, we’re sure Witherspoon is doing just fine. She’s worth over $200 million and still getting plenty of valuable acting roles.
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