Wall Street mogul Daniel Shak sues ex-wife Beth over her $1m shoe collection


REVEALED: The $1m shoe collection the Wall Street mogul is suing wife over – but she says she will 'fight him all the way'
Beth Shak's wealthy ex-husband has filed a lawsuit for a portion of her collection after he discovers their $1m worthShe owns 1,200 pairs of designer heels, including 700 Christian LouboutinsEx-husband claims he knew nothing about the shoes

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UPDATED:

22:12 GMT, 25 June 2012

When a marriage falls apart, even the angriest of husbands probably wouldn’t bother laying claim to his wife’s shoes.

But then, most wives don’t have a footwear collection worth $1million (640,000).

Hedge fund manager Daniel Shak is suing his ex-wife, Beth, for 35 per cent of all the shoes she owns, claiming she kept them hidden as they thrashed out a $3.25million (2m) divorce settlement.

Beth Shak owns a staggering 1,200 collection of designer heels including 700 pairs of Christian Louboutins

Beth Shak owns a staggering 1,200 collection of designer heels including 700 pairs of Christian Louboutins

Beth and her daughter admiring the collection

Beth and her daughter admiring the collection

Daniel claims Beth hid her collection in a secret room in their house

Daniel claims Beth hid her collection in a secret room in their house

Mr Shak alleges she hoarded the 1,200
pairs – more than half of which are by Christian Louboutin – in a
‘secret room’ in their exclusive apartment.

But Mrs Shak, a
professional poker player, branded her ex-husband’s move as harassment,
said he must have known about the shoes – and vowed to ‘fight him all
the way’.

The couple, who have three children together, split up in
2009. Mr Shak remained in their $7.4million apartment, which he has
since sold for a $200,000 profit.

Last year, however, he lost a
reported $7million on the gold market. He has now filed the lawsuit
against his ex-wife.

It states: ‘In the summer of 2011, Daniel became
aware that Beth owned and failed to disclose an extensive … collection
of Christian Louboutin shoes … and other high-end designer shoes.

Beth is working on her new shoe website, Shoes R Forever, which was inspired by her new boyfriend Ben

Beth is working on her new shoe website, Shoes R Forever, which was inspired by her new boyfriend Ben

‘Dan
trusted his wife and was not inspecting his home to try to find
inventory or “secret rooms’’.’ The collection is indeed vast and
includes 700 pairs of Louboutins, costing from $700 to $4,000.

That,
combined with her reputation as a World Series poker player, has made
Mrs Shak something of a celebrity in the U.S. She has appeared on
television to discuss her shoe habit, and is starting to design her own
range of footwear.

The 42-year-old’s devotion to Louboutin is such
that she has described his creations as ‘fine art’ and even has a tattoo
of one of his heels.

The collection includes dozens of pairs of
strappy silver sandals, black kitten heels and leopard print pumps, all
in her own size seven (UK size 4).

Beth and her staggering collection have featured on MTV Cribs and the Today show

Beth and her staggering collection have featured on MTV Cribs and the Today show

Mrs Shak’s most expensive shoes are a pair of
black and white cowboy boots once owned by Elizabeth Taylor. She keeps
them in a glass cabinet of their own with a framed picture of the
actress on the wall above, although she refused to reveal how much they
cost.

She now lives in a luxurious house near Philadelphia with her
two youngest children Lindy, 17, and Austin, 15 – and has four storage
areas around the property for all her footwear.

The main closet, which
can only be entered using a numerical keypad, is 12ft by 8ft and has
eight racks, each full of shoes, going from the floor to the ceiling.

A second room also has a numerical keypad and is 4ft by 5ft.

There is also a separate rack in another room, where she keeps her formal shoes, and another cupboard for the remainder.

Beth Shak with her boyfriend Ben Cook, 36 and part of her shoe collection

Beth Shak with her boyfriend Ben Cook, 36 and part of her shoe collection

Beth's collection features 700 Christian Louboutin heels ranging from $400-$7,000

Beth's collection features 700 Christian Louboutin heels ranging from $400-$7,000

A glitzy pair of Louboutin heels are one of Beth's favourites

A glitzy pair of Louboutin heels are one of Beth's favourites

Mrs
Shak claims she has always funded her habit with her poker winnings,
although by some counts she has won only $500,000 during her six years
in the game.

She said: ‘There are shoes that I don’t even remember
buying. I’m so short of space I had to give a couple of hundred pairs
away.

‘Sometimes I pull a pair out that I don’t remember and feel like I got a pair of shoes for free.’

She
added that it would be ‘ludicrous’ if she had actually kept her habit a
secret from her husband when they shared the apartment in New York.

‘I’m shaking my head over this whole thing,’ she said. ‘He is saying he didn’t know the closet in our master bedroom existed.’

Daniel Shak believes the value of the collection may entitle him to hundreds of thousands of dollars more in their divorce settlement

Daniel Shak believes the value of the collection may entitle him to hundreds of thousands of dollars more in their divorce settlement

Beth's luxurious home in Philadelphia, Pennsylvania

Beth's luxurious home in Philadelphia, Pennsylvania

Asked
if she has become addicted, she said: ‘I don’t have an addiction to
shoes because they’re a want, and definitely not a need.’ Mrs Shak’s
collection beats that of Mariah Carey, who reportedly owns 1,000 pairs.

But
it’s smaller than Celine Dion’s, who is said to own around 3,000 – the
same number collected by Imelda Marcos, the infamous first lady of the
Philippines. Asked if she gets compared to Marcos, Mrs Shak laughed:
‘Yes, it’s so bad!’

Mr Shak, 52, who runs SHK Asset Management in
New York, said: ‘I take offence at her statement where she says I am
claiming to have no knowledge of her master bathroom closet.’

The case is now going through the courts.