The story of Herbie and Nicole Wertheim, a couple married for more than five decades, has taken a dramatic turn as their relationship unravels in a high-stakes divorce battle. What once seemed like a partnership built on love, business success, and philanthropy has now turned into a contentious fight over money, power, and control. At the heart of the conflict is Nicole’s allegation that Herbie, her billionaire ex-husband, forged her signature, made unauthorized charitable pledges, and cut her off from accessing $250 million in charitable funds tied to their family foundation. The case offers a rare glimpse into the complex and often brutal power struggles that can arise when wealthy couples divorce, especially when philanthropy and control over vast fortunes are at play.
The Trouble Begins
The trouble began in July 2023, when Nicole filed for divorce after Herbie was spotted at a high-profile charity event in Palm Beach with another woman, Alicia Dahill, who works in global event management. The divorce was finalized in October, but the couple’s estimated $4.5 billion fortune remains a point of contention. While Florida’s equitable distribution laws suggest that assets should be split fairly, the more unusual aspect of this case lies in the fight over the Wertheim family foundation, which holds $250 million in charitable funds. Nicole alleges that Herbie effectively took control of the foundation by forging her signature to appoint his brother, Ray Wertheim, as a trustee. She claims that Herbie then transferred the foundation’s assets into a Charles Schwab account that only he controls, bypassing her authority as a co-founder and trustee.
Herbie’s lawyers have disputed Nicole’s claims, arguing that the foundation’s assets are intended for charitable donations, not personal use. However, they acknowledge that Herbie did open a Schwab account without Nicole’s signature power. They justify this by pointing to a separate incident in which Nicole withdrew $3.5 million from Herbie’s personal trust for her own use. While this explains why Herbie might have wanted to limit her access to the trust, it doesn’t clarify how this relates to the foundation’s assets. Observers, including family law experts, suggest that Herbie’s legal team may be using the trust issue to deflect attention from the core allegations about the foundation.
The Power of Philanthropy
The Wertheims’ foundation has long been a symbol of their shared commitment to giving back. The couple joined the Giving Pledge in 2016, promising to donate at least half of their fortune to charitable causes. Over the years, they made significant pledges to universities and other organizations, including a $50 million commitment to the University of California Berkeley’s School of Optometry. However, Nicole claims that Herbie made some of these pledges without her consent, undermining her role as a trustee and co-founder of the foundation. For instance, she successfully convinced Florida State University to decline a $50 million pledge that Herbie had made without her input. Nevertheless, she couldn’t stop a $100 million commitment to the University of Florida for biomedical research, which Herbie reportedly finalized without consulting her or their daughter, Vanessa, who was also a trustee at the time.
The battle over the foundation reflects how philanthropy can become a tool of power in wealthy divorces. As one philanthropy consultant noted, control over charitable assets often translates to influence and prestige. Donors who write big checks get to shape the missions of the organizations they support, and ceding control over even a portion of these assets means relinquishing some of that power. Herbie’s continued presence at high-profile charity events, often alongside his new girlfriend, only adds fuel to the fire. Nicole, on the other hand, has stepped back from the public eye, describing herself as a private person. Her decision to remove her name from the Giving Pledge during the divorce proceedings further signals her desire to distance herself from the joint philanthropic efforts she once shared with Herbie.
A Family Divided
The Wertheim family’s personal dynamics have also played a role in the conflict. Herbie has shifted blame onto their daughter, Vanessa, claiming that her resignation from the foundation after the divorce was filed created the need for his brother to step in. Vanessa, however, denies that her departure justified Herbie’s actions, stating that she stepped down to allow her parents to resolve the foundation’s affairs without her involvement. Meanwhile, Herbie has suggested that he offered to split the foundation’s assets with Nicole, allowing each of them to run their own separate foundations, but Nicole’s lawyers deny that such an offer was ever made. Herbie has since established his own foundation, the Dr. Herbert Wertheim Humanitarian Foundation, with a $50 million loan from his personal trust.
Despite the ongoing legal battles, Herbie insists that his primary goal is to fulfill the foundation’s charitable mission. He has already begun making personal donations to meet some of the pledges he made without Nicole’s input, including a $20 million payment to the University of Florida from his own funds. However, critics point out that the foundation’s track record of giving has been relatively modest compared to its size. As of 2023, the foundation had $157 million in net assets but had only distributed $1 million in grants over the previous year. Over the past decade, it has given away approximately $29 million—a significant amount for most foundations but a drop in the ocean compared to the Wertheims’ vast fortune. Herbie’s stated desire to “preserve the corpus of the foundation” suggests that he may be more focused on maintaining control over the assets than on actually giving them away.
Looking Ahead
As the legal battle continues, the outcome remains uncertain. Nicole has made it clear that she wants to be treated fairly and respectfully, both in terms of the divorce settlement and the management of the foundation. She hopes that the two can resolve their differences and move on with their lives, allowing them to enjoy the time they have left. Herbie, on the other hand, seems less inclined to compromise, insisting that he has done nothing wrong and that Nicole’s accusations are unfounded. The dispute over the foundation’s assets has become a symbol of the broader power struggle between the two, with control over their shared philanthropic legacy hanging in the balance.
Ultimately, the Wertheim case highlights the complexities of wealth, power, and relationships. While the couple’s story is unique due to the sheer scale of their fortune, it also raises questions about fairness, accountability, and the challenges of dividing assets in a divorce—especially when those assets are tied to charitable causes. As the trial over the asset division approaches, the world will be watching to see how this dramatic and high-stakes conflict unfolds.
