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It may be “the end of Rudy Giuliani,” according to the former New York mayor and Trump attorney's lawyer Joseph Sibley.
That's because a federal jury ruled that he owes nearly $150m to Ruby Freeman and her daughter Shaye Moss after he defamed them, falsely claiming they had been committing voter fraud to aid Joe Biden in the 2020 election.
The women described being harassed, receiving death threats, and having to flee their homes due to the conspiracy theories pushed by Mr Giuliani.
Before the ruling, Mr Sibley said awarding the women tens of millions would be “the civil equivalence of a death penalty” for Mr Giuliani.
But how much is the former New York mayor actually worth?
“He has made it pretty clear that he doesn't have the resources to handle litigation,” a source familiar with Mr Giuliani’s legal woes told ABC News.
While there's no concrete number, there are some indicators as to how much Mr Giuliani has stored away in his coffers.
The best current estimate is dated, but puts Mr Giuliani's net worth around $50m, with approximately $15m of that from his business activities, including his worth with his Giuliani Partners lobbying group, according to CNN. At the time of the estimate — about 15 years ago — he was earning approximately $17m a year.
But that was more than a decade ago, and a lot has changed for Mr Giuliani. On 21 December, Mr Giuliani filed for bankruptcy.
The former Donald Trump attorney has also to deal with the financial fallout of a third divorce. Since then, he has had to turn to his 9/11 legacy to draw in cash by selling t-shirts commemorating the terror attack, priced at $911. He was also at one point selling Cameos on the personalised video website for $325 each, though his profile no longer appears to be accessible on the site, according to CBS News.
In addition to his merch-slinging, Mr Giuliani also earns approximately $400,000 a year from his radio show and likely has been able to monetise his podcast to some degree. But those earnings may be offset by the $3m in legal fees, according to the New York Times.
He also has some money tied up in major assets, like his $6.5m apartment, which was listed in mid-December, according to Sotheby's.
Unfortunately for Mr Giuliani, the defamation case isn’t his only concern; he has also been sued by two voting machine companies for claiming they were involved in voter fraud in the 2020 election, and an unrelated sexual harassment suit seeking $10m brought by his former business associate. He has “unequivocally” denied those allegations.
Joe Biden's son, Hunter, has also sued Mr Giuliani for unspecified damages. He has accused the former mayor of mishandling his personal data.
And perhaps most threatening to Mr Giuliani is his indictment in the criminal racketeering case being litigated in Fulton County, Georgia, regarding the 2020 election. He is a co-defendant with Mr Trump and several others. Rather than fines, Mr Giuliani faces jail time if convicted. He has pleaded not guilty.
Mr Giulinai’s filing for bankruptcy came one day after the federal judge overseeing his defamation case ordered him to “immediately” pay the women, pointing to his history as an “uncooperative litigant” and concerns that he will try to “conceal his assets” during any appeals.
An eight-member jury unanimously agreed that Mr Giuliani owes Ms Freeman and Ms Moss $16.2m and $16.99m respectively in compensatory damages, an additional $20m each for intentional infliction of emotional distress, and a further $75m in punitive damages.
His bankruptcy filing lists debts of as much as $500m and assets between $1m and $10m.
Asked in the filing about the nature of his debts, he simply wrote: “Lawsuits.”
In addition to the more than $148m owed to Ms Freeman and Ms Moss, Mr Giuliani owes roughly $1m in taxes and more than $3.5m to law firms.
“The filing should be a surprise to no one,” his spokesperson Ted Goodman said in a statement.
“No person could have reasonably believed that Mayor Rudy Giuliani would be able to pay such a high punitive amount,” he added. “Chapter 11 will afford Mayor Giuliani the opportunity and time to pursue an appeal, while providing transparency for his finances under the supervision of the bankruptcy court, to ensure all creditors are treated equally and fairly throughout the process.”
In a federal court filing, the women asked the court to immediately enforce the verdict against Mr Giuliani, fearing he “will use whatever time he has to alienate or dissipate what assets are available to satisfy even a small portion” of the judgment awarded to them.
In her order, US District Judge Beryl Howell – who has been repeatedly frustrated by Mr Giuliani’s attempts to evade evidence throughout the case – did just that.
Mr Giuliani’s claims that he has experienced “financial difficulties” are “difficult to square” against his hiring of a spokesperson “who accompanied him daily to trial,” the judge wrote.
Following the rulings, Mr Giuliani began hawking unapproved dietary supplements, The Daily Beast reported, showing his followers on livestreams how to create Christmas ornaments out of bottles of Balance of Nature dietary pills, telling them to buy the pills to help “fight the traitors”.
“Balance of Nature should be taken every single day to make sure you get your vegetables and your fruits,” he said. “I expect you to have these in Christmas stockings for all those that you love, okay?”
The FDA temporarily removed the supplements from the market in November, noting that they had been falsely promoted as battling cancer and Covid-19. Mr Giuliani did not mention the market removal.
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1/ 1What is Rudy Giuliani’s net worth?
What is Rudy Giuliani’s net worth?
Jury orders Rudy Giuliani to pay $148m
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