Morgan Stanley Chairman and Wife Died in Sicily Yacht Sinking. Here's What Will Happen to His $8.7 Million Fortune
Morgan Stanley International chairman Jonathan Bloomer and his wife Judy died in August 2024 when a 183-foot luxury yacht sank off the coast of Sicily. Documents associated with the couple reveal what will happen to his multi-million dollar fortune.
In a letter of administration obtained by PEOPLE, Bloomer's estate had a net value of about $8,700,000 (or £6,551,549).
The couple's children — James Bloomer, Helena O'Donnell and Elizabeth Bloomer — were named as administrators of his will, which was written in 1996 and also obtained by PEOPLE.
Related: After Yacht Sinking Tragedy, Family of Exec Jonathan Bloomer and Wife Judy Say 'Only Comfort' Is They're 'Together'
According to his will, Bloomer appointed his wife Judy as the sole executor of his estate, which she would receive after all funeral expenses and debts were paid off, so long as she survived him for a period of 90 days, which she did not.
In the event that his wife did not survive him, Bloomer stipulated that the money should be divided equally among his surviving children.
The will listed Judy and their children as the beneficiaries of his estate as well as any charitable institutions his trustees "think fit."
Additionally, he wrote that in the event that his own parents or his mother-in-law were still living at the time of his death, they should each receive about $133,000 (or £100,000).
If his children did not survive him, he stipulated that his estate should be split evenly between his two brothers and his sister-in-law.
Related: What We Know So Far About the Missing Victims in the Sicily Yacht Sinking
The Bloomers were among the 22 passengers on the Bayesian when it sank on Aug. 19, 2024, off the coast of Porticello, though it remains unclear why exactly it went down so quickly.
Yacht chef Recaldo Thomas; British tech entrepreneur Mike Lynch and his daughter, Hannah Lynch; and New York City-based lawyer Christopher Morvillo and his wife, Neda also died.
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In a statement obtained by the BBC and Sky News in the aftermath of the sinking, the Bloomers' family described the couple as "incredible people and an inspiration to many."
"But first and foremost they were focused on and loved their family and spending time with their new grandchildren," they wrote.
"Together for five decades, our only comfort is that they are still together now," the family continued. "This is an unimaginable grief to shoulder. Our only ask is that our family's privacy is respected at this time."
Related: Mike Lynch's Friend Shares What Life Was Like Onboard Yacht Before It Sank: 'Truly Luxurious Cabins'
The CEO of a London-based insurance company that Jonathan was the chairman of also said at the time that they were "deeply shocked and saddened," while Judy, who was a teacher prior to working as a psychotherapist, was remembered as a "wonderful friend," according to the BBC.
She previously served as a trustee for The Eve Appeal, a British-based charitable organization that funds research and raises awareness for gynecological cancers.
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