The wife of late billionaire John Kluge, who once ranked as the richest man in the US, is now filing for Chapter 7 bankruptcy. Patricia Kluge is a former British model who was media mogul Kluge's third wife.
Following their divorce in 1990, Patricia settled for payments of $1 million in cash per year and also received the impressive Albemarle estate which was valued at $100 million. The estate was certainly costly to maintain, but this wasn't what led Patricia Kluge to her bankruptcy filing. Apparently it was an investment in a vineyard which she and her third husband William Moses purchased in 1999. The Kluge Estate Winery and Vineyard was located on 960 acres near the Albemarle property, and the couple had planned to expand it aggressively. Too aggressively, it turned out, as they took over $65 million in loans for this purpose which failed to pay off.