Wade Cherwayko has been told by Mr Justice Mostyn that he will not be arrested and jailed if he hands over the money to wife Moya.
The decision emerged in a ruling published on a legal website following a divorce cash dispute between the pair.
Mr Cherwayko has been ordered to hand over millions but his estranged wife complained he had not paid all of a first instalment of about £1.5 million.
She subsequently asked the judge to commit Mr Cherwayko to jail for contempt.
The judge, who had analysed the committal application at a private hearing in the Family Division of the High Court in London, said he was "sure beyond a reasonable doubt" that Mr Cherwayko was in contempt, which he described as "blatant and defiant".
But he concluded that an immediate jail term would be disproportionate.
He said a six-month sentence would be "stayed" providing Mr Cherwayko paid the £500,000 in the near future.
He did not say how much in total Mr Cherwayko had been ordered to pay - although he said a £1.7 million instalment was due in February.
He suggested the businessman's investments were in properties and shares in a number of companies.