Linda Evangelista Settles Child Custody Case

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Valentina, Pinault's daughter with actress Salma Hayek, has been taken on a $52,000 12-day vacation to Bora Bora and has a $12 million Los Angeles home in a trust for her.

Pinault's lawyer contended that Pinault initially reached out to Evangelista and her former lawyer, Francois Chateau, in 2007 asking for a decision regarding child support. He says that the letter was met with no response. A letter sent from Pinault's attorneys to Chateau reads, "Dear Francois, your silence is deafening? we owe it to our clients to conclude this matter."

"I'm not going to pay money I'm not asked for," Pinault said last Thursday.

Pinault is the chief executive of PPR, his family's company that owns such luxury brands as Gucci and Yves Saint Laurent. Heir to the $11.5 billion empire, Pinault brings in $4 million to $5 million annually.

Evangelista, a mogul in her own right, is the former face of L'Oreal Paris and has graced the cover of over 600 magazine covers and is worth $8 million.

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