The 75-year-old actor - who married Linda, 56, after the pair met on the set of 'Crocodile Dundee' in 1986 - has won a major victory in his divorce from his former co-star as she was awarded just £3.4 million of his estimated £11.75 million fortune.
Linda - with whom he shares custody of his son, Chance, 15 - will receive no child support in addition to her cut but will be allowed to live at the former couple's Venice Beach home until 2018 or until she remarries again, reports TMZ.
Paul will also keep all the rights relating to his famed 'Crocodile Dundee' character, Mick Dundee, as well as the production company that produced the classic film.
The pair were married for 23 years before separating in September last year.
News of the divorce follows a long-running ATO investigation into Paul's alleged tax evasion.
The actor was prohibited from leaving the US permanently following a trip to his mother's funeral in his native Australia in 2010, prompting him to enter into a public stand off with the US taxation department.
However, no charges were ever made and Paul has since settled the case for an undisclosed sum.
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