Ralph Walton Callaway, Jr. challenged multiple aspects of a divorce decree involving his marriage to Megan Moynihan Callaway, including the district court's valuation of his 74.5% interest in Callaway Cloud Consulting and the resulting property division.
The couple married in July 2012 and initially split time between New York City and Jackson, Wyoming. Callaway founded Callaway Cloud Consulting, which "provides IT services that focus on configuring, programming and customizing the integration of customer relationship management platforms by building custom AI solutions for businesses, providing data engineering, offering audits of clients' cloud footprints, and recommending additional enhancements to their IT systems." When they decided to have children, Moynihan agreed to give up her public relations career to move to Jackson and raise their three children while Callaway expanded the business.
Callaway Cloud became highly successful, generating $7-8 million annually at its peak between 2018 and 2022. However, the company's revenue declined approximately 60% in 2023 when it lost its two largest clients, leading Callaway to step down as CEO and take voluntary furlough.
The district court valued the marital estate at $11,997,511 and Callaway's business interest at $5,459,000. The court initially awarded Moynihan assets totaling approximately 48.2% of the marital estate, but then determined it would be equitable to award her 55% because she had given up her career and would be starting over after being out of the workforce for a decade. This required Callaway to pay an equalization payment of $815,290.
The Wyoming Supreme Court's April 14, 2026 opinion addressed disputes over business valuation methodology, custody arrangements, visitation schedules, and child support calculations. The court held that Callaway was voluntarily underemployed and imputed his income at $65,000 monthly, resulting in $10,900 monthly child support payments.