Reese Witherspoon and Jim Toth began dividing their assets years before announcing split
Reese Witherspoon and her ex-husband Jim Toth seemed to have worked out a lot of their financial woes even before announcing their divorce.
The Morning Show star, 47, and the talent agent, 52, shared the news of their split just two days before their 12th wedding anniversary in a joint social media announcement on Friday.
The couple said: “Our highest priority is our son and our entire family as we navigate this next chapter.”
The couple share their son, Tennessee, 10. Reese is also mother to Ava, 23, and Deacon, 19, from her first marriage to actor Ryan Phillippe, 48.
Assets: Reese Witherspoon, 47, and her estranged husband, Jim Toth, 52, allegedly began dividing their assets over several years before announcing their divorce on Friday, according to a source. The liquidated assets reportedly include three houses and another on the market.
An informant reportedly told him US Weekly in 2021, the couple had been quietly liquidating their joint assets for a couple of years before taking the final step to dissolve their marriage.
“They decided that their marriage was not going to last forever and that they should have a plan to divide their assets that would not destroy what they built together,” the source told the news outlet at the time.
Reese sold a large part of his Hello Sunshine production company for $900 million in August 2021. Jim was one of the founding members of the board.
Reese reportedly maintained a stake in the company and continues to work for Hello Sunshine as a producer on various projects, including Where the Crawdads Sing and the Prime series Daisy Jones and the Six.
“Instead of having to break up a large company with dozens of employees and multiple divisions, they have a lot of money, and there’s plenty to go around,” the source explained.
The couple reportedly sold several of their homes, including a Malibu farmhouse in 2020, an English country-style mansion located in Los Angeles, and a six-bedroom, eight-bathroom mansion in Nashville.
A separate property in Malibu, believed to belong to them, has been put up for sale, according to red finfor $8 million.
The Your Place or Mine star has been moving forward with new projects.
Sad news: Reese and Jim announced their separation on Friday, just two days before their 12th wedding anniversary.
Family: The couple wrote that their highest priority was their family. Jim and Reese are parents from Tennessee, 10. Reese is also the mother of Ava, 23, and Deacon, 19, from her first marriage to actor Ryan Phillippe, 48.
Clearinghouse: The couple reportedly sold several of their homes, including a Malibu farmhouse in 2020, an English country-style mansion located in Los Angeles, and a six-bedroom, eight-bathroom mansion in Nashville; seen in 2017
Moving forward: Reese sold a large chunk of Hello Sunshine, the production company she founded. Jim served as a founding member of the board. He still produces projects like Daisy Jones and the Six and The Morning Show under the Hello Sunshine banner.
Country: Reese and country singer Kacey Musgraves are working as executive producers on the new My Kind of Country singing competition. The show debuted Friday on Apple TV.
She launched the new singing competition show My Kind of Country on Apple TV on Friday.
The show features Mickey Guyton, Jimmie Allen and Orville Peck as talent scouts who travel the world looking for new country artists.
Promoting the new show on Instagram ahead of its launch, Reese wrote that the series was born out of conversations with country music singer Kacey Musgraves about “how the country music industry needs to be more inclusive and that it should be more representative of the world in the one we live in.” ‘
Both Reese and Kacey serve as executive producers for the series.