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“Oil is the only thing they have left in that economy … Putin has destroyed the rest of the economy,” Amos Hochstein tells CNBC.
Russia was the biggest supplier of both natural gas and petroleum oils to the EU in 2021, according to Eurostat, however gas exports from Russia to the European Union have slid this year.
Hochstein stressed the importance of acting now to ensure a more secure environment for the development of future technologies within the energy sector.

Amos Hochstein photographed in Beirut, Lebanon, on October 27, 2022.
Hussam Shbaro | Anadolu Agency | Getty Images

Oil is all Russia’s economy has left following its invasion of Ukraine earlier this year, according to Amos Hochstein, special presidential coordinator for President Joe Biden.
“Oil is the only thing they have left in that economy … Putin has destroyed the rest of the economy,” Hochstein told CNBC’s Hadley Gamble Monday.

“All he’s got left is the stuff that comes out of the ground. He won’t sell his gas to Europe anymore, so all he has is oil, so that’s what funds this war.”
The Russian Embassy to the U.K. was not immediately available to respond to the comments when contacted by CNBC.
The Russian economy shrunk by 4% year-on-year over the second quarter, and the Central Bank of Russia expects the downturn to deepen in the quarters ahead. The International Monetary Fund expects Russia’s GDP to contract by 3.4% in 2022.
Hochstein’s comments, from the ADIPEC conference in Abu Dhabi, come at a volatile time for energy markets following Russia’s invasion of Ukraine in Feb. 2022.
Russia was the biggest supplier of both natural gas and petroleum oils to the EU in 2021, according to Eurostat, however gas exports from Russia to the European Union have slid this year.

“Despite available production and transport capacity, Russia has reduced its gas supplies to the European Union by close to 50% y-o-y since the start of 2022,” according to the International Energy Agency.

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As such, Hochstein stressed the importance of acting now to ensure a more secure environment for the development of future technologies within the energy sector.
“Fortunately or unfortunately, energy today is the number one issue in the world,” he said. “And you know, we’re here talking about oil and gas, but the energy transition — look what we just passed in the United States, the largest climate investment, which matches well with what countries like the UAE is doing, and some other countries around the world.”
He added that these investments, into supply chains and the future of energy more broadly, had to be done “today.”
“So that we don’t end up with the same geopolitics of energy for renewables and for electric vehicles as we had in the 20th century in oil and gas,” he added.
— CNBC’s Elliot Smith contributed to this report. More

Travel demand is still picking up, and so are the prices of flight tickets. 
Surging prices are causing some to cut back on spending, but others are finding new ways to pay for their holiday plans.

More airlines are partnering with “buy now, pay later” firms to give customers the option to pay for their flights in installments, instead of a lump-sum payment. Some airlines even allow travelers to fly before the airfare is paid in full.
“Consumers have grown accustomed to using ‘buy now, pay later’ in retail, and are now excited to be able to use it in travel,” said Tom Botts, chief commercial officer of BNPL firm Uplift.  
But “this isn’t about giving consumers trips they can’t afford or encouraging them to take trips they shouldn’t,” he said. “This is about helping consumers actually budget and pay for these dream trips.”

Uplift has partnered with more than 30 airlines, including United Airlines, Lufthansa, Air Canada and AeroMexico.
“Implementing BNPL was part of AeroMexico payments evolution to offer our customers more comprehensive payment options,” said Daniel Vega, a director at AeroMexico.

“Customers will certainly buy their holiday airfare if they have affordable installments vs. one big payment up-front,” he told CNBC via email.
Uplift is “100% focused on leisure travel,” said Botts. He added that consumers who use its services tend to spoil themselves when they can pay in installments. 
“We see them buying premium economy or even first class [tickets] when typically they would not have bought that … Consumers are not buying the cheapest seats on the plane anymore,” he said. 
“There have been layaway programs of various flavors in travel for a long time. But they were always predicated on the consumer being required to complete payment before they travel,” Botts said. “Some people don’t always understand that they don’t have to make all the payments before they travel.” 

How it works

These companies work in several ways.
Some, such as Uplift, run a quick credit check on the traveler, which they use to determine interest rates and payment schedules. These are effectively short-term loans, which are decided in “literally a snap of a finger,” said Botts.
Botts said most of Uplift’s partners offer 0% financing. “In many cases, there’s not even a cost to the consumer to go ahead and take a seven-day cruise and pay for it over time,” he said.
However, rates vary according to the traveler’s financial health. Uplift’s annual percentage rates range from 0% to 36%, according to its website.
When asked about travelers who may cancel their credit cards before the loan is repaid, Botts said that’s “called fraud, and there are consequences.”
“By pulling out credit reports, we’re able to actually understand and ensure that the consumer has the financial wherewithal to actually pay us back.”
Others, such as a company called Pay Later Travel, work more like the classic layaway plan. There’s no credit check and no financing terms, but travelers must secure the flight with a deposit and pay the full fare before flying.

The company’s approval algorithm is able to understand consumer’s ability to pay for large ticket items and approve them accordingly.

CCO of Uplift

Still more, such as the BNPL company Splitit, authorize the full airfare amount on a traveler’s credit card, but split the payments between three and 24 monthly installments. With each installment that is paid, the company reduces the hold on the credit line by the same amount, according to its website.
Australia’s largest airline Qantas launched BNPL services in May 2022, which allows international passengers on select routes to book a flight but pay the fare later. However, the fare isn’t locked in — it can increase, along with changes in taxes and fees, according to the website.
Qantas also charges a fee to hold the seats, which is refunded if the flight is purchased or canceled, according to its website.

Not just airlines

The online travel agency Booking.com works with the BNPL company Zip, which lets travelers pay for hotels, cruises, cars and travel experiences in installments.
“Flexible options are critical for travelers … particularly with all the uncertainty of the last couple of years and continued uncertainty that we see globally,” said Booking.com’s managing director for Asia-Pacific, Laura Houldsworth. 

Some companies require that users book through an app or their own websites. But others are available directly through websites operated by airlines or companies, such as Booking.com.
D3sign | Moment | Getty Images

Fewer BNPL loans being approved

Most BNPL companies operate by issuing loans.
However, with high inflation and rising interest rates, “fewer and fewer loans,” especially for large amounts, are being approved, said Nandan Sheth, Splitit’s CEO.
Uplift’s Botts told CNBC he disagrees.
“The company’s approval algorithm is able to understand consumer’s ability to pay for large ticket items and approve them accordingly,” he said. “We have a duty to be a responsible lender and need to ensure that consumers can pay off the loans we offer.”
Splitit doesn’t issue loans or check traveler’s credit scores, said Sheth. All customers need is enough available credit on their credit cards to cover the cost of the purchase, according to the website.
“We’re not doing any data harvesting on the consumers’ purchasing history … we’re not hijacking the consumer, and we’re not reselling the consumer alternative offers,” he said.
But Botts said that credit cards are a “terrible way” to finance airfare, given the compounding nature of credit card interest.
Furthermore, there is no understanding if the consumer can actually afford the loan, he said.
“This simply transfers the risk of repayment to the credit card companies. It is a really bad spiral for consumers,” Botts added.
— CNBC’s Monica Pitrelli contributed to this report. More

Brooklyn Nets guard Kyrie Irving promoted an antisemitic film and book on social media Thursday.
His team and team-owner owner Joe Tsai issued statements Friday condemning his actions.

Kyrie Irving #11 of the Brooklyn Nets handles the ball against the Milwaukee Bucks in Game Two of the Second Round of the 2021 NBA Playoffs at Barclays Center on June 07, 2021 in New York City.
Steven Ryan | Getty Images

After Brooklyn Nets guard Kyrie Irving promoted an antisemitic film and book on social media Thursday, his team and team-owner Joe Tsai issued statements Friday condemning his actions.
“I’m disappointed that Kyrie appears to support a film based on a book full of anti-semitic disinformation,” Tsai wrote on Twitter. “I want to sit down and make sure he understands this is hurtful to all of us, and as a man of faith, it is wrong to promote hate based on race, ethnicity or religion.”

Irving posted a tweet Thursday linking to an Amazon page for the movie “Hebrews to Negroes: Wake Up Black America,” which is “stuffed with antisemitic tropes,” according to an earlier report from Rolling Stone. The movie was released in 2018 and is based on a 2015 book by the same name.
The Nets condemned Irving’s actions in a statement Friday.
“The Brooklyn Nets strongly condemn and have no tolerance for the promotion of any form of hate speech,” the team said in the statement. “We believe that in these situations, our first action must be open, honest dialogue. We thank those, including the ADL (Anti-Defamation League), who have been supportive during this time.”
In a tweet on Saturday, Irving said he “meant no disrespect to anyone’s religious beliefs.”
“The ‘Anti-Semitic’ label that is being pushed on me is not justified and does not reflect the reality or truth I live in everyday,” he wrote. “I embrace and want to learn from all walks of life and religions.”

He has not removed his original tweet.
Irving’s post on Thursday follows a series of antisemitic comments made by Ye, the rapper formerly known as Kanye West, in recent weeks. Adidas, Gap, Foot Locker and other organizations have since cut ties with Ye and cost him his billionaire status.
The Anti-Defamation League, StopAntisemistism and the International Legal Forum applauded the move by Adidas on Tuesday.
Irving was previously benched by the Nets in 2021 for refusing to get vaccinated against Covid-19. It is unclear whether his social media post will impact his ability to play.
The Nets will play the Indiana Pacers on Saturday night.

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Life Changes

Two-thirds of U.S. adults have no will, and their dying intestate has serious implications for grieving family members and other potential heirs looking to settle the deceased’s affairs.
There is great uncertainty around what courts will decide in the absence of a will, said Andrew Schwartz, senior vice president of Madison Planning Group in White Plains, New York.
Differing state laws, differing goals among potential heirs, family addiction issues and child guardianship problems are just some of the complicating factors when people die with no will.

C.j. Burton | The Image Bank | Getty Images

What happens if a loved one dies without a will? Millions of us are bound to find out, as two-thirds of American adults have no will, according to a recent Caring.com study.
If a person dies without a will, or intestate, the probate court decides who gets the deceased’s property, said certified financial planner Vid Ponnapalli, founder of Unique Financial Advisors LLC in Holmdel, New Jersey.

“But while the court distributes the property, it is ultimately up to the survivors to claim their rights to it,” he said.

More from Life Changes:

Here’s a look at other stories offering a financial angle on important lifetime milestones.

For an intestate situation, the probate court appoints an executor for the estate who will follow a process according to the laws of the state where the deceased lived.
“Generally speaking, this process, as a first step, involves identifying the kinship, aka bloodline, of the deceased,” Ponnapalli said. “This process can take a lot of time and puts the burden on children to prove to the court that they are your offspring.”
There is great uncertainty around what the courts will decide in the absence of a will, said Andrew Schwartz, senior vice president of Madison Planning Group in White Plains, New York.

“Equal and fair are two different things,” he said. “To the courts, equal is equal [numerically].

“You don’t know how they will divide your assets,” Schwartz added.
He listed other ramifications of not having a will:

Different heirs, different objectives: For example, if a child or grandchild had special needs, the inheritance may disqualify their special needs fund.
Addiction issues: “In this time of pervasive opioid issues, an heir could blow through an inheritance,” Schwartz said. “Without a will, how do you make sure they’re taken care of?”
Long distances: Can family members travel to the court? Or do they need to hire an attorney and/or a financial advisor from that area or state?
Locating the deceased’s records: The family needs to find the deceased’s proof of residency and understand what account statements exist, who the accounts belong to and how they are held —individual name, business, joint, retirement, real estate, partnership, etc.
Differing state laws: For example, not all states recognize domestic partnerships or common-law spouses.

The uncertainty of child custody is another ramification of dying intestate, said Mark Dutram, CFP and president of Bayview Private Wealth in Destin, Florida. For example, if the deceased had custody of minor children, it would be up to the court to choose a guardian to care for them and a conservator to oversee their assets, he said.
Not least of all are the emotional ramifications that afflict the deceased’s family when there is no will, Dutram said.
“Your loved ones will already be in a state of trauma — the last thing you’d want is a complicated process for them to administer your estate,” he said. “The family will need to determine … what [the deceased] would have liked.”
“And friends and acquaintances may come out of the woodwork for handouts of the deceased’s effects, like vehicles,” Dutram added.

What to do if a loved one dies intestate

Secure the home: Restrict access if necessary, change the locks, take videos of everything and forward the mail.
Contact the funeral home: Ideally, let there be a family representative for this. Get death certificates, but don’t let them get into the wrong hands. Death certificates can provide a lot of access to personal documents and/or assets.
In the home, look for legal documents: Seek out real estate deeds, insurance policies (is there an asset attached?), bank statements, retirement accounts, tax returns (to see income and assets). Also look for names of a financial advisor, accountant, lawyer, or other professionals who would know about the deceased. The more you know, the better.
Call the county court and ask for the Surrogate Court: They will explain the process and the forms to fill out. They usually require an original death certificate.

Often an individual can handle the process alone, but if there are conflicts within the family, large numbers of assets or certain types of assets (such as a business or intellectual property), you should engage a trust and estates attorney.
— Sabine Franco, managing attorney at The Ambitious Legacy Firm in Hempstead, New York More

Amid the nationwide flurry of tax cuts, two states are voting on whether to enact a “millionaire tax” on top earners in November.
In California, Proposition 30 would add a 1.75% levy on annual income over $2 million, in addition to the state’s top income tax rate of 13.3%.
The Fair Share Amendment in Massachusetts would create a 4% levy on yearly income above $1 million, on top of the state’s 5% flat income tax.

How states plan to spend ‘millionaire tax’ revenue

While the proposed taxes sound similar, there are differences in how each state plans to use the revenue. 
In Massachusetts, assuming voters pass the measure, the tax is expected to generate about $1.3 billion of revenue in 2023, according to a Tufts University analysis. The state aims to use the revenue to fund public education, roads, bridges and public transportation.
California’s tax is projected to bring in $3.5 billion to $5 billion annually should it pass, and the state plans to use the revenue to pay for zero-emissions vehicle programs and wildfire response and prevention.

Whether voters support higher income taxes or not, revenue plans often affect the results on Election Day, experts say.
“We’ve seen voters reject income tax increases on high earners, even when it applies to relatively few people,” said Jared Walczak, vice president of state projects at the Tax Foundation. “And we’ve seen them embrace income tax changes that would affect many.”

We’ve seen voters reject income tax increases on high earners, even when it applies to relatively few people.

Jared Walczak
Vice president of state projects at the Tax Foundation

Overall, there’s one clear trend with state tax ballots: Voters care about the plans for the money, he said.
With funds earmarked for zero-emissions vehicle subsidies, Proposition 30 is opposed by Gov. Gavin Newsom, who believes the measure will negatively impact the state’s economy without a benefit that “broadly accrues to Californians,” Walczak said.

There’s been a push for progressive taxes in Massachusetts

Another factor that may affect voters is the current income tax structure in each state, experts say.
“Massachusetts has been talking about creating a progressive tax rate for a long time,” said Richard Auxier, senior policy associate at the Urban-Brookings Tax Policy Center, noting the current flat income tax is 5% regardless of income.
“Part of this is they want that ability to shift some of the overall state’s tax burden up the ladder,” he said.
By contrast, California has a graduated state income tax system, with a top rate of 13.3% for individuals making over $1 million per year.
“California already has very high top marginal [tax] rates,” Walczak said. “Even if voters are broadly in favor of progressive taxes and support higher rates on high earners, they may feel that it goes far enough.”
Walczak said he does not believe the proposed millionaire taxes are part of a broader trend at the state level. Since 2021, some 21 states have slashed individual income taxes, and only one state, New York, and the District of Columbia have raised levies. 
“You can’t read much into what voters want based merely on ballot access,” he added.

Federal plans for higher taxes on the wealthiest Americans have faltered

Despite the growing interest in taxing the ultrawealthy, federal proposals have failed to gain traction. 
After releasing dueling wealth tax proposals during the 2020 presidential primaries, Sens. Elizabeth Warren, D-Mass., and Bernie Sanders, I-Vt., along with other Democrats, in March 2021 floated the Ultra-Millionaire Tax Act, a 2% annual tax on wealth over $50 million and 3% on wealth over $1 billion.
And Senate Finance Committee Chairman Ron Wyden, D-Ore., in October 2021 proposed a plan for a tax affecting Americans with more than $1 billion of wealth or an adjusted gross income exceeding $100 million for three consecutive years.
In March, President Joe Biden unveiled a wealth tax proposal as part of his 2023 budget, calling for a 20% levy on households worth more than $100 million.
While many Americans approve of higher taxes on the ultrawealthy, these plans have failed to gain broad support.

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“Halloween” creator John Carpenter has directed many cult favorites. One of them, “Prince of Darkness,” turned 35 this month.
CNBC talked to Carpenter and his spouse and business partner, Sandy King Carpenter, about the making of the low-budget horror flick.
Shock rocker Alice Cooper also weighed in on his indelible, dialogue-free turn as a murderous street person who’s under the influence of Satan.

Alice Cooper in John Carpenter’s 1987 movie “Prince of Darkness.”
Source: Shutterstock

John Carpenter is the king of Halloween. And not just because he directed “Halloween.”
He’s the creative force behind spooky season classics like “The Fog,” “Christine” and “The Thing.” A lucrative new trilogy of “Halloween” sequels to his 1978 original just wrapped up with “Halloween Ends,” which Carpenter helped score and executive produce. He and his spouse, the writer and producer Sandy King Carpenter, oversee Storm King Comics, which just turned 10 and features dozens of horror and science fiction titles, including special releases each year for Halloween.

But this year, one of Carpenter’s more obscure movies, “Prince of Darkness,” which teems with insects and metaphysical dread, is having a moment and finding new audiences.
The movie’s 35th anniversary was just last weekend, in the heart of the peak time for scary movies. Highbrow film-streaming service The Criterion Channel is featuring it this month as part of its Halloween programming. And it’s been released three times on boutique home-video company Shout Factory’s horror-centric Scream Factory label, the most recent edition being an acclaimed 4K high-definition disc last year. (Carpenter is the most represented director at Scream Factory. “We tried to get all his films,” marketing executive and co-founder Jeff Nelson said.)
That’s quite a turnaround for “Prince of Darkness,” which critics panned when it was released in 1987. New York Times critic Vincent Canby called it “surprisingly cheesy.”
The movie is now regarded as one of Carpenter’s best and most interesting movies. Phil Hoad of The Guardian called it “maybe the director’s most underrated film.” Gizmodo’s Cheryl Eddy said it “contains one of the most disturbing depictions of evil ever.”
The reappraisal sits just fine with Carpenter.

“It makes me feel good. That’s a good feeling, as opposed to a bad feeling,” he said, with a dry emphasis on “good” and “bad,” in a recent interview with CNBC.

Liquid assets

“Prince of Darkness” tells the story of how Satan, in the form of demonic green liquid, breaks out of his cannister-slash-prison in the bowels of a Catholic church in Los Angeles, brutally murdering and possessing a series of graduate students and scientists. It was a modest hit, grossing about $13 million on a mere $3 million budget.
At the time, Carpenter was coming off a streak of bigger Hollywood films, such as “Starman” and “Big Trouble in Little China,” and wanted to get back to his indie roots.
“He shows how great he is when you don’t have a huge budget and you have to be creative,” said Cliff MacMillan, Scream Factory’s other co-founder.

Director John Carpenter and co-creator Sandy King sign copies of comic book “Asylum” held at Golden Apple Comics on October 27, 2013 in Los Angeles, California.
Albert L. Ortega | Getty Images

Carpenter agreed to a multi-movie distribution deal with Universal Pictures and independent studio Carolco. All the filmmaker had to submit to the studios were one-paragraph synopses for the movies, according to Sandy King Carpenter, who was the script supervisor on “Prince of Darkness.”
The first project was “Prince of Darkness.” The second, 1988’s “They Live,” a bitter sci-fi satire of Reagan-era politics, consumerism and economics starring pro wrestler “Rowdy” Roddy Piper, has become a cult favorite in its own right. (A planned third movie, called “Victory Out of Time,” wasn’t made.)
Because of the small budget for “Prince of Darkness,” Carpenter and his crew had to pull off some tricks to achieve the movie’s ambitious imagery.
“That’s where you get innovative, when you have no money,” Sandy King Carpenter told CNBC.
The script called for tons of bugs to swarm all over characters, so that meant real insects. Thousands of beetles, Sandy King Carpenter said. It was such a spectacle that the band Aerosmith showed up one day to watch the filming of their longtime friend Robert Grasmere’s big, disgusting insect scene, she added.
Aerosmith weren’t the only rockers who showed up to watch the gnarly special effects in action. Shock rock icon Alice Cooper, whose manager Shep Gordon executive-produced “Prince of Darkness,” visited the LA set to watch Carpenter and crew film a scene involving a mirror that acts as a doorway to another dimension.

That’s when you get innovative, when you have no money.

Sandy King Carpenter
producer and writer

Next thing he knew, Cooper told CNBC, Carpenter was telling him to put on a stocking hat and act in the movie as the de facto leader of killer demonic street people who swarm outside the church as the plot unfolds. He became one of the most prominent images in the film and its marketing, even though he didn’t have one word of dialogue.
Carpenter also asked Cooper to repurpose once of his notorious stage show gags – using a microphone stand to “impale” someone – for a death scene that would end up featuring the rock star’s title song for the movie playing in the background.
“‘Can you put a bicycle through this guy’s chest?'” Cooper said Carpenter asked him. “I said, ‘Sure, you’ve come to the right guy.'”
Cooper also stuck around to watch the filming of the mirror scene, which showed how far Carpenter was willing to go to get the right shot on a tight budget.
“We needed a shot of the hand coming out of the mirror,” Carpenter said. So he and his crew dumped out the mercury that was serving as ballast for a camera crane and used it to simulate liquid glass.
“It was very dangerous,” the director said. But Sandy King Carpenter was quick to explain that it was a fake hand, not a real one.
“We weren’t psychotic,” she said, “just a little daring.”
Disclosure: CNBC, Universal Pictures and Peacock, which is streaming “Halloween Ends,” are part of NBCUniversal.

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New York Yankees legend Derek Jeter and his wife, Hannah Jeter, have agreed to a multiyear deal with Jeep to promote the company’s Grand Wagoneer SUV.
A 60-second commercial featuring the vehicle and couple was broadcast nationally Friday night during game one of the World Series between the Houston Astros and the Philadelphia Phillies.
The Grand Wagoneer, which can top $110,000 when fully loaded, is an important product for Jeep as the quintessential American SUV brand attempts to move upmarket.

Derek Jeter will star with his wife, fashion model and television host Hannah Jeter, in the Grand Wagoneer’s new “Eyes Wide Open” campaign as part of a long-term partnership.

DETROIT — New York Yankees legend Derek Jeter and his wife, Hannah Jeter, have agreed to a multiyear deal with Jeep to promote the company’s Grand Wagoneer SUV.
The Hall of Fame shortstop and Hannah Jeter, a model and television host, will star in a new ad campaign for the full-size luxury SUV. A 60-second ad featuring the vehicle and couple was broadcast Friday night during game one of Major League Baseball’s World Series between the Houston Astros and the Philadelphia Phillies.

Olivier Francois, chief marketing officer of Stellantis, which owns Jeep, said the Jeters were selected because of their family, rise to fame and connection to Michigan. Derek Jeter grew up in the state and it’s where the large SUV is being produced.
“We needed a personality that symbolizes American success,” Francois told reporters during a media briefing. “They are just the embodiment of the American dream.”

Stellantis, which was formed by the merger of Fiat Chrysler and France-based Groupe PSA in January 2021, declined to comment on the cost of the partnership and ad campaign.
The Grand Wagoneer, which can top $110,000 when fully loaded, is a three-row luxury SUV. It is an important product as the quintessential American SUV brand attempts to move upmarket.
Francois, who is well known for creative ads with celebrities, compared the new campaign to a 2011 Super Bowl ad with Detroit rapper Eminem.

Much like the Eminem ad, the commercial with the Jeters cuts between scenic city sites, a vehicle and the stars, with a voiceover dramatically discussing rebirth, dreams and success.
The campaign was filmed in New York City, including Greenwich Village, as well as upstate New York. It was created in partnership with Highdive agency in Chicago.

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Tom Brady and Gisele Bundchen announced their divorce after 13 years of marriage.
The celebrity couple announced the news in statements posted to Instagram Friday morning.

NFL superstar Tom Brady and supermodel Gisele Bündchen are getting divorced after 13 years of marriage, they announced Friday.
“We arrived at this decision amicably and with gratitude for the time we spent together,” the Tampa Bay Buccaneers quarterback, 45, said on Instagram. “We are blessed with beautiful and wonderful children who will continue to be the center of our world in every way. We will continue to work together as parents to always ensure they receive the love and attention they deserve.” 

The celebrity couple married in 2009 and have two children together: Benjamin, 12, and Vivian, 9. Brady has another son, Jack, 15, with former girlfriend Bridget Moynahan. Combined, Brady and Bündchen have a reported net worth of hundreds of millions of dollars.
Bündchen, 42, said in a statement posted to her Instagram, “The decision to end a marriage is never easy but we have grown apart and while it is, of course, difficult to go through something like this, I feel blessed for the time we had together and only wish the best for Tom always.”

Brady returned to the Tampa Bay Buccaneers this season weeks after announcing his retirement back in February. In an interview with Elle Magazine in September, Bundchen expressed her concerns about Brady returning to football for a 23rd season, and his third with the Buccaneers.
“Obviously, I have my concerns—this is a very violent sport, and I have my children and I would like him to be more present,” she said. “I have definitely had those conversations with him over and over again. But ultimately, I feel that everybody has to make a decision that works for [them]. He needs to follow his joy, too.”
Brady’s Bucs are 3-5 this year, an uncharacteristically bad record for the quarterback, who’s won seven Super Bowls, including six with the New England Patriots and one with Tampa.
The Buccaneers lost to the Baltimore Ravens on Thursday night.

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