For 5 seasons, followers have watched Todd Chrisley and his household do wealthy folks issues in Atlanta, GA. So naturally, viewers need to know what the 48-year-old does for a residing that scored him his personal TV present, Chrisley Is aware of Finest, on USA Community.
Although Todd amassed his wealth by means of actual property, proudly owning a number of ventures, he has since misplaced the whole lot — and his internet price is definitely listed at -$5 million (sure, that is a unfavorable signal). So, how did the previous mogul develop into broke? Based on a number of experiences, one horrible deal compelled Todd to file for chapter in 2012.
(Photograph Credit score: USA Community)
“He assured an actual property growth mortgage and it failed,” his lawyer, Robert Furr, informed Individuals journal a couple of years in the past. “He was on the hook for $30 million. If he hadn’t had that occur, he would have been high-quality, financially.”
He additionally filed company chapter the next yr for his firm, Chrisley Asset Administration. For somebody who claimed to spend $300,000 a yr on garments alone in Season 1 promos, it was a significant blow. In 2014, Todd claimed the chapter case was “really in its closing phases” and that he had “moved on from it,” however in authorized paperwork obtained by the Each day Mail in January, it said that the patriarch nonetheless owes round $70,000, and the trustee presiding over the case demanded he be present in contempt of court docket.
Ultimately, the household additionally gave up their $2.four million, 30,000-square-foot mansion, which was typically featured on digicam. They now reside in Nashville, TN. However in an fascinating twist, Todd’s spouse, Julie, really has a small fortune of her personal, and has lent him not less than $four million. “She is well-off,” his lawyer revealed in 2014. “She has her personal cash. That is cash that she lent him over time for his enterprise. It’s so simple as that.” We’ll have an interest to see what occurs to this couple sooner or later.
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