Ye and Kardashian agreed to share joint custody with “equal access” to their four children, according to court documents obtained by TMZ. Kardashian will have custody 80% of the time.
The divorce settlement expenses come as Ye has recently watched his net worth drop from $1.8 billion earlier this year to about $400 million, according to Forbes. Several brands, including Adidas, cut ties with the rapper and clothing designer following a string of antisemitic and offensive remarks.
The Hollywood couple shares two daughters, North and Chicago, and two sons, Saint and Psalm.
As part of the settlement, Ye will also be responsible for covering half of all of the children’s educational and security expenses. Ye and Kardashian reportedly agreed to participate in mediation should a disagreement regarding the children take place.
According to a 2014 prenup agreement reported by Radar Online, Kardashian would receive $1 million for each year she and Ye were married, capped at $10 million, and remain on Ye’s life insurance policy for the rest of her life, regardless of divorce.
The couple shared six years of marriage, having tied the knot in May 2014 in Florence, Italy.