Rudy Giuliani is in the news for all the wrong reasons these days, but it was not always so. Once upon a time, he was “America’s Mayor’” with a legacy he could be proud of. The 2020 Presidential election seems to have brought him more troubles than Giuliani can cope with now. Many lawsuits, an extravagant lifestyle, and alimony payments have made a severe dent in his net worth, so much so that he filed for bankruptcy late last year after he lost the defamation case against the two Georgia election workers and was ordered to pay massive damages. Yesterday, a court ruled in their favor and asked Giuliani to hand over his Manhattan apartment and other valuable assets to these election workers.
Also read : Injurious Imputations: How The American Government Contributes To The Racial Wealth Gap
Rudy Giuliani: How Much Is He Worth Now in 2024?
While there is no accurate way of guessing his net worth right now, especially when Giuliani’s bankruptcy case was dismissed due to a lack of transparency about his finances, these are the possible estimations based on whatever is known in the public domain.
In the bankruptcy proceedings, Giuliani claimed that he had assets worth $1 – 10 million and debts of $ 150 million. He claimed he was earning a little $2000 monthly, and his monthly expenses were over $43,000. Naturally, his creditors did not believe his financial disclosures. The bankruptcy court also wanted more from his statements and felt it needed clarity about his money in private LLCs.
At the bankruptcy hearing, Giuliani said he makes money as a consultant in Giuliani Communications. He also gets money as a radio host. The income from this is estimated to be around $400,000 a year.
He has recently started a coffee business, Rudy Coffee, with his face plastered everywhere in the promotional material. Rudy Coffee is a deal between Burke Brands and Giuliani Communications LLC, with 80 % of the profit going to Rudy.
Since then, the court has ruled in favor of the creditors, and Rudy Coffee may no longer be immune to the creditors’ retrieval proceedings.
October 22, 2024 Ruling: Giuliani Loses His New York Apartment
The court yesterday ruled in favor of the two election workers, Ruby Freeman and Shaye Moss, who won a $148 million defamation lawsuit against Giuliani late last year. In its order yesterday, the court said that Giuliani must hand over his $6 million New York home, some valuable watches, a car, and other sports collectibles to these two plaintiffs as a part of their settlement.
This order comes after Giuliani lost the Charter 11 bankruptcy case, which previously helped him retain control over his assets. His nondisclosure and lack of transparency in the bankruptcy case were the cause of his loss.
Yesterday’s ruling is a significant loss for Giuliani. His other apartment is under a separate litigation. The judge said the court will hear Guilani’s Florida condominium case on October 28. This condo is worth $3 million. His four World Series Rings are also under litigation; therefore, the judge did not include these assets in yesterday’s ruling.
Also read: Fernando Valenzuela Net Worth | Dodgers Legend Dies at 63
Giuliani’s Income In His Heyday
In 2007, when he was running for President, Giuliani made approximately $18 million a year, with a lot of money coming from speeches. His net worth at that time was estimated to be around $52 million, with most of his income coming from Giuliani Partners, a lobbying and consulting company.
Giuliani’s Downward Spiral
His controversial statements in the 2020 Presidential elections led to a mammoth defamation case. He eventually lost that case, and the judge ruled in favor of the plaintiffs, who he now owes $148 million.
Guliani has many cases pending against him. He owes the IRS $720,000 in taxes and $ 270,000 to the New York State in unpaid taxes. His legal team still needs to receive their legal fees.
He lost a lot of money in his three divorces and alimonies. His lavish lifestyle also contributed to his downfall.
Final Thoughts: From Presidential Hopeful to Lawsuits
Giuliani went from a Presidential hopeful to bankruptcy in the last fifteen years. A fast lifestyle eroded his net worth from almost $ 50 million in 2007 to – $150 million plus. Yesterday’s ruling is a dark moment where he has lost one of his most prized assets, his New York apartment, goods of sentimental and financial value.
