Latest news with #JohnFoster
Daily Mail
3 days ago
- Business
- Daily Mail
Tycoon's astonishing divorce court confession sends shockwaves through Wall Street
The boss of an $800 million private equity firm suddenly announced he has Alzheimer's disease in the middle of a divorce hearing. Health Point Capital managing partner John Foster, 83, has been locked in a bitter divorce with his estranged wife Stephanie Foster, 57, for four years. Foster claimed her extravagant spending habits wiped out his $45 million fortune and he is almost 'destitute', but Stephanie insists he is hiding assets. His lawyers previously claimed Stephanie blew money on designer clothes and other luxuries 'at a rate that… none of us can conceive'. Stephanie Foster's camp instead rubbished claims Foster was suddenly $12 million in debt when his wife filed for divorce, which may also come as a shock to his shareholders. She said he was still flying on his private jet between New York and Florida for Botox, hair dye, and manicure appointments. Foster also sold a sprawling eight-bedroom, nine-bathroom mansion on the ultra-exclusive Fishers Island, Massachusetts, for $10 million last October. But his claims of being unable to remember documents he signed, or where his wealth was allegedly stashed, became more believable on Wednesday. During his second day on the stand in the Manhattan Supreme Court he dropped the health bombshell which is likely to enrage his shareholders. 'I'm 83-years-old, I have recently had an MRI, which is a brain scan for my Alzheimer's,' he said, totally unprompted, according to the New York Post. Stephanie's lawyer Rita Glavin, who was stunned by the news, asked him to confirm his diagnosis, and he replied 'yes and I am being examined' for it with the MRI. However, he later said in his testimony that he couldn't remember why he got the MRI, or what he said earlier in his evidence. He also spent part of the hearing scrolling through his phone and had to be admonished by Glavin. Concealing his condition could open Health Point Capital to shareholder or investor lawsuits and potential action by the SEC, experts told the NYP. Exactly when Foster was diagnosed and how much his business partners knew about his illness was not disclosed. Foster said he was placed on leave several weeks ago due to 'other litigation not to do with this proceeding', which he also had not told the court before. He is still listed as the first managing partner on the firm's website . Glavin then asked if the 'other litigation' was claims he used company accounts to hide personal income, and Foster responded by ending the hearing. 'Judge, I think we should close for the day, I'm not up for it,' he said, the NYP reported. The court previously heard the 15-year marriage broke down after Foster frequently cheated on his wife. But Stephanie previously said the last straw was him telling her, 'I don't care what happens to you when I die.' Glavin previously told the court how Foster added $3 million to his bank account in one year and splurged $800,000 on a Hinckley yacht. Foster also owns a ranch in Texas filled with exotic African animals including oryx, sable and zebra, a Gulfstream IV-SP jet, and a mansion in The Breakers on Palm Beach, Florida. Stephanie produced a text message exchange between Foster and the family lawyer that she claimed was proof he was hiding his wealth. 'Your net-worth strategy worked. Steph is stunned. Told me I'm bankrupt! She's very upset!' he wrote.
New York Post
4 days ago
- Business
- New York Post
Private equity bigwig shocks courtroom with Alzheimer's diagnosis during bombshell NYC divorce trial: ‘I'm a lowly business man'
A private equity CEO wrapped in a bruising divorce battle shocked a Manhattan courtroom this week when he suddenly announced he has Alzheimer's disease — potentially opening him up to regulator sanctions and shareholder lawsuits, experts said. John Foster, 83, managing partner of the $800 million private equity firm HealthPointCapital, made the stunning, unprompted admission in Manhattan Supreme Court Wednesday as he testified in his divorce case against his estranged wife of 15 years Stephanie Foster, 57. 'I'm a lowly business man,' said Foster, a longtime health devices bigwig who spent much of his testimony claiming he couldn't recall whether he had signed notarized documents or sworn affidavits. 5 John H. Foster, center, stunned a courtroom Wednesday when he announced a previously undisclosed Alzheimer's diagnosis. Steven Hirsch 'I'm 83-years-old — I have recently had an MRI, which is a brain scan for my Alzheimer's,' he suddenly added, divulging a previously-undisclosed illness. Experts said the revelation from Foster — who spent much of his testimony claiming he couldn't remember signing official documents — could potentially have serious legal consequences outside of his messy divorce. 'That may be material information that has to be disclosed under federal law and SEC regulations,' said securities fraud trial lawyer, Michael P. Bowen. Foster — who is currently under a no-contact order due to 'taunting' text messages he sent to his soon-to-be ex-wife last fall — also erupted in court Wednesday as he bemoaned the hourly rates charged by her attorneys. '$40,000 a day for this bulls—t,' he said loudly, as the lawyers spoke with the judge at the bench. His own apparently well-compensated lawyer, Linda Rosenthal — who has previously claimed her client has 'barely a positive net worth, if at all' — told him to zip it. 5 John Foster spent much of the day saying he could not recall basic things, like if he had signed notarized documents or his sworn affidavit. Steven Hirsch During what was his second day on the stand this week, Foster repeatedly answered 'I don't recall' in response to basic questions about if he remembered signing notarized documents, a statement of net worth, records of million-dollar deposits and his sworn affidavit. After answering yes when pressed by his wife's high-powered attorney Rita Glavin to confirm he had Alzheimer's, he later tried to qualify by saying: 'yes and I am being examined' for the disease when he got his MRI a week earlier. But when Glavin asked him to clarify an earlier statement about his diagnosis, Foster said he could not recall why he got an MRI, or what he had previously said in his testimony. 5 Wife Stephanie Foster has long claimed that her husband is hiding potentially hundreds of millions in a 'net worth strategy' to avoid a divorce payout. Steven Hirsch Bowen, who is not involved in the Foster case, said that while there's no clear line of when a duty to disclose is triggered, a diagnosis like Alzheimer's is one that could directly impact Foster's fund. 'An investor would want to know that information,' Bowen said, adding that the specifics are what matters in cases like this. 'It could lead to sanctions by the SEC, or to shareholder lawsuits,' he said, if Foster's condition was not properly disclosed. 5 Texts found by Stephanie Foster on John Foster's phone allegedly congratulating his lawyer for successfully hiding his wealth from her. Courtesy Stephanie Foster Foster told the court Wednesday that his company placed him on leave 'several weeks ago' due to 'other litigation not to do with this proceeding' — something he hadn't disclosed during his testimony the prior day. Healthpoint Capital still lists Foster as its first managing partner on their website. The company did not immediately respond to questions regarding Foster's current status of employment or when he last signed investor statements and other documentation on behalf of the firm. Glavin — who also reps ex-Gov. Andrew Cuomo in the sexual harassment lawsuits he faces — peppered Foster about his wife's claim that he attempted to hide more than $6.3 million in income from her. Foster has previously claimed during the nearly four-year-long acrimonious separation that his wife's spending has left him destitute, but she claims to have discovered a text message that reveals a deliberate 'net-worth strategy' to hide his true assets. 5 Stephanie Foster, center, leaving the courthouse Wednesday with one of her lawyers, BriAnne Copp. Steven Hirsch When Glavin asked if he had been placed on leave because of the allegations he used company accounts to hide personal income from a business deal, Foster immediately clammed up. 'Judge, I think we should close for the day,' Foster said as he placed a pair of hearing-aided headphones on his head that he only wore occasionally during the day. 'I'm not up for it.' He then complained that his wife had too many lawyers, and he, too few. 'She has too many lawyers. It's three verses four,' he riffed. At other points, Foster had his head buried in his hands, or was too busy scrolling on his smartphone to respond to questions from Glavin as he sat in the witness stand. 'Mr. Foster, can you please put your phone down for a moment?' Glavin requested repeatedly. 'Do you think your testimony is important?' 'I'm not at liberty to discuss,' he said from the witness stand. 'Yes you are,' Glavin replied. 'You are under a subpoena.'
Time of India
20-05-2025
- Entertainment
- Time of India
American Idol 23's winner Jamal Roberts reveals what he plans to do after the finale
After winning season 23 of American Idol, Jamal Roberts has one thing on his mind: sleep! In a roundtable chat with media following the Sunday, May 18 finale, Roberts revealed his plans after winning. "I'm going to take a nap," Roberts, 27, explained. During the finale, a video was presented in which participant Breanna Nix, who finished third, predicted that Roberts would win earlier in the season. When he reflected on that moment, Roberts refused to believe it. "I said, 'Girl, hush. "Be quiet," Roberts instructed reporters. "I feel great. She was like, 'You're anointed. She stated, 'It's a different anointing. She said, 'You'll win this.'" Meanwhile, judge Lionel Richie stated that Roberts "can go any way he wants" with his career. "He can go to the country tomorrow. Richie told reporters after the show, "As far as I'm concerned, he's off to the races." "And I think what I loved the most was what America needed to see was the two of them standing together," he said of Roberts and the runner-up. "That is my prayer for America, since we are a melting pot. We aren't simply one tribe. And so seeing them together was just what I was hoping for." Judge Luke Bryan, who previously stated he had a "gut feeling" about Roberts, said he "wanted him to win". "When I say that, you never want to take away from what John Foster accomplished. John Foster is great, and I believe John will do... He'll perform well in music, but when I look at Jamal's overall approach to singing, he's a fantastic singer," he explained. "I believe that is what American Idol is all about: great singers winning, and he is a wonderful one... when I listen to [him], he really moves me. "I am a big fan of him. " Judge Carrie Underwood, who won the program in 2005, offered some advise to Roberts. "At the end, I got to wish him congratulations. I said, 'Now, go accomplish big things.' Because it's such an excellent launching pad, springboard, and opportunity. He has to hustle. "He needs to work hard," the "Before He Cheats" singer added. "He's got to make a lot of big decisions, and then say some prayers and see where the good Lord takes him." On Sunday night, Roberts, a gym teacher at a Mississippi elementary school, celebrated his victory by singing Anthony Hamilton's "Her Heart" song.
Yahoo
20-05-2025
- Entertainment
- Yahoo
Who won 'American Idol' Season 23? What do you get for winning 'American Idol'?
A new winner of "American Idol" has been chosen. About 26 million votes were cast to select the 2025 American Idol and one contestant received a majority of those votes. Breanna Nix was eliminated first about halfway through the finale, coming in third place on "American Idol" Season 23. Besides former contestants, guests during the finale included Salt-N-Pepa, Jessica Simpson and Good Charlotte. Contestant Jamal Roberts performed with "artist in residence" Jelly Roll, John Foster went on stage with judge Luke Bryan and Nix sang with Brandon Lake. Here's who the 2025 "American Idol" winner is, what the winners of "American Idol" get and what to know about your Season 23 champ. Once the Top 24 singers have joined the American Federation of Television and Radio Artists, or AFTRA, which costs $3,000, then they earn $1,571 for a two-hour show, $1,303 for each one-hour episode and $910 for each half-hour episode, per 2016 numbers from TV Insider. Contestants also receive a $400 wardrobe allowance per episode, according to The Hollywood Reporter. The winner of "American Idol" 2025 receives a recording contract and a cash prize. That amount has changed throughout the years, with season 16 winner Maddie Poppe getting $250,000 and season one winner Kelly Clarkson walking away with a $1 million recording deal with RCA Records. The winner of "American Idol" 2025 is Jamal Roberts, a P.E. teacher from Mississippi. Roberts is 27 years old. There is no clear answer on how many votes Roberts received in particular, but 26 million votes were cast in total. The runner-up of "American Idol" Season 23 is John Foster. Foster is an 18-year-old from Addis, Louisiana. Yes, season 23 of "American Idol" began March 2, 2025. Season 24 of "American Idol" has already been in the works, according to Executive Producer Megan Michaels Wolflick. Thousands of submissions have already come in, but season 24 will likely not come out until 2026. Almost paradise ... Why is Hannah Brown on 'Bachelor in Paradise'? When will 'Bachelor in Paradise' air? If you're not able to watch live, "American Idol" Season 23 will be available to stream the next day on Hulu. A subscription to Hulu costs $9.99 a month (or $99.99/year) for the ad-supported plan. Students can get Hulu with ads for $1.99 a month, and Hulu with no ads costs $18.99 a month. Reach the reporter at Follow @dina_kaur on X, formerly known as Twitter, and on Bluesky @ Subscribe to today. This article originally appeared on Arizona Republic: Who won 'American Idol' last night? What to know about the 2025 winner
Yahoo
19-05-2025
- Entertainment
- Yahoo
‘American Idol' Season 23 finale: Who took the crown — John Foster, Breanna Nix, or Jamal Roberts?
Tonight on American Idol, the top three give their final performances in a star-studded night filled with music legends and top stars. After the nationwide vote, host Ryan Seacrest reveals this year's American Idol winner. Will John Foster, Breanna Nix, or Jamal Roberts take the crown? Follow our live blog to see each performance and up-to-the-minute results below. The three-hour finale of American Idol airs live coast-to-coast beginning at 8 p.m. ET/5 p.m. PT on ABC. Judges Carrie Underwood, Lionel Richie, and Luke Bryan will cheer on the contestants as "Artist in Residence" Jelly Roll mentors the finalists ahead of their last performance. More from GoldDerby 'I'm anointed': Jamal Roberts becomes the first Black man to win 'American Idol' in 22 years, following Ruben Studdard Everything to know about the 'American Idol' Season 23 finale: Returning contestants, superstar guests, finalists' new singles ... 'Your life flashes before your eyes': 'The Amazing Race' winners Carson and Jack, runners-up Han and Holden talk Season 37 finale Each of the top 14 contestants return to make an appearance on tonight's finale along with superstar guests Brandon Lake, Goo Goo Dolls, Good Charlotte, Jennifer Holliday, Jessica Simpson, Kirk Franklin, Myles Smith, Patti LaBelle, and Salt-N-Pepa. SEE New singles released from Top 7 American Idol finalists 8 p.m. — Previously, on American Idol: The top three finalists were announced on May 12 after competing in "Disney Night No. 2" — performing a pair tunes featured in classic Disney movies. John Foster ("The Bare Necessities"/"Rainbow Connection") edged out Jamal Roberts ("Ain't No Mountain High Enough"/"Beauty and the Beast") and Breanna Nix ("This Will Be (An Everlasting Love)"/"You'll Be in My Heart") to win Gold Derby's poll as your favorite performer. Thunderstorm Artis ("A Dream Is a Wish Your Heart Makes"/"Find Yourself") and Slater Nalley ("You've Got a Friend in Me"/"Born to Be Wild") were eliminated from the competition. The grand finale performances for America's vote were: John Foster Age: 18 Hometown: Addis, La. Performance: "Courtesy of The Red, White and Blue (The Angry American)" by Toby Keith Carrie's comments: "You're pulling out all the stops." Lionel's comments: "That's the way you run for offi-- nailed it, nailed it, nailed it." Luke's comments: "Your whole disposition has changed -- the confidence and your voice has gotten better." Jamal Roberts Age: 27 Hometown: Meridian, Miss. Performance: "First Time" by Teeks Carrie's comments: "I feel like tonight, you look so comfortable and at ease." Lionel's comments: "What I love about you is the way you just navigate the story and it happens to come out of your mouth in brilliant form." Luke's comments: "Will you teach me how to be that smooth? Everything about you is a star." Breanna Nix Age: 25 Hometown: Denton, Texas Performance: "In Jesus Name (God of Possible)" by Katy Nichole Carrie's comments: "You just reminded everybody why we love you. It's so warm and believable." Lionel's comments: "This has turned into a slugfest -- every one of you in your own lane has a career forever. Stay on your path." Luke's comments: "You've just been amazingly solid all year, you deliver week in and week out. You have such a special heart and thing about you." John Foster Age: 18 Hometown: Addis, La. Performance: "Take Me Home, Country Roads" by John Denver Carrie's comments: "Great song choice. Everybody at home was singing." Lionel's comments: "For all of you out there: vote, vote, vote." Luke's comments: "That hometown piece, whew. Really beautifully done." Jamal Roberts Age: 27 Hometown: Meridian, Miss. Performance: "Just My Imagination (Running Away with Me)" by The Temptations Carrie's comments: "You can sing things that are contemporary and it fits. You can sing things that are throwback and it fits. It all sounds fresh and new and fun." Lionel's comments: "You are divinely guided, my friend." Luke's comments: "I cannot believe that you have been in a schoolroom teaching kids and you go from that to what you're able to do in front of us. You're one of the most amazing people that I've ever seen on this show." Breanna Nix Age: 25 Hometown: Denton, Texas Performance: "The Climb" by Miley Cyrus Carrie's comments: "You're just a gorgeous, wonderful inspiration to so many people." Lionel's comments: "Perfect song. Perfect voice. Perfect presentation." Luke's comments: "What a perfect song choice. You just took me on an unbelievable ride." John Foster Age: 18 Hometown: Addis, La. Performance: "Tell That Angel I Love Her" Jamal Roberts Age: 27 Hometown: Meridian, Miss. Performance: "Heal" The evening's celebratory performances included: John Foster, Jamal Roberts & Breanna Nix Performance: "We Are the Champions" by Queen Salt-N-Pepa Performance: "Push It" / "Shoop" / "Whatta Man" with the Ladies of the Top 14 Good Charlotte Performance: "The Anthem" / "Lifestyles of the Rich & Famous" with Guys of the Top 14 Luke Bryan Performance: "Country Song Came On" / "Deeper Than the Holler" by Randy Travis with John Foster Kirk Franklin Performance: "Melodies from Heaven" and "Love Theory" with Canaan James Hill Goo Goo Dolls Performance: "Iris" with Mattie Pruitt Brandon Lake Performance: "Daddy's DNA" with Breanna Nix Jennifer Holliday Performance: "I Am Changing" with Gabby Samone Jelly Roll Performance: "Unpretty" and "Liar" with Jamal Roberts Myles Smith Performance: "Nice to Meet You" and "Stargazing" with Ché Chesterman and Filo PJ Morton Performance: "How Deep Is Your Love" by Bee Gees with Amanda Barise Patti LaBelle Performance: "Lady Marmalade" with Kolbi Jordan Carrie Underwood Performance: "I'm Gonna Love You" with Cody Johnson and Slater Nalley The War and Treaty Performance: "Hey Driver" with Thunderstorm Artis Jessica Simpson Performance: "Blame Me" / "These Boots Were Made for Walkin'" with Josh King Lionel Richie Performance: "Stuck on You" with Carrie Underwood and Luke Bryan Following the nationwide vote, the winner of American Idol Season 23 is Jamal Roberts. The Season 23 runner-up is John Foster. This season's third-place finisher is Breanna Nix. SIGN UP for Gold Derby's free newsletter with latest predictions Launch Gallery: 'American Idol' Season 23 cast: Meet the Top 24 finalists Best of GoldDerby 'Survivor' deaths: Full list of castaways we've lost Everything to know about the 'Survivor 48' finale: Airdate, title, finalists, challenges, rules 'The Masked Singer' spoilers: Who is Boogie Woogie? Click here to read the full article.
