Rudolph Giuliani’s bankruptcy filings reveal a treasure trove of assets ranging from New York Yankees World Series rings to potential claims against Donald Trump and President Joe Biden, as he grapples with a staggering $148 million judgment.
A Financial Storm
Rudolph Giuliani, the former federal prosecutor, and New York City mayor, has found himself in the midst of a financial storm. His bankruptcy filings made public on Friday, reveal a fascinating array of assets and liabilities that paint a vivid picture of his current predicament.
Giuliani’s assets, valued at $10.6 million, are as diverse as they are intriguing. They include New York Yankees World Series rings, a signed Joe DiMaggio shirt, and potential claims against Donald Trump and President Joe Biden.
However, these assets are dwarfed by his liabilities, which total almost $153 million. Among these liabilities is a tax debt of $990,000.
Real Estate and Legal Battles
The bulk of Giuliani’s assets are tied up in real estate. His Manhattan condominium is valued at $5.6 million, while his Palm Beach, Florida home is worth $3.5 million. Interestingly, Giuliani has stated that at least $1.6 million of his assets are exempt from creditor collection.
In a bid to resolve his debts, Giuliani plans to ask for court permission to sell his Manhattan condo. His attorney, Heath Berger, has cited the bankruptcy of right-wing conspiracist Alex Jones as a potential “roadmap” to finding a resolution with creditors in Giuliani’s Chapter 11 case. Berger said,
“Hopefully at some point through the reorganization, we can come to some plan at some reduced rate that will let Mr. Giuliani kind of continue working. You know, he’s in his twilight years.”
Giuliani’s bankruptcy filings also hint at potential legal battles. He has listed a possible claim for unpaid legal fees against Trump and a “Joseph Biden defamation claim.” Biden’s son, Hunter, has been named as a creditor in Giuliani’s bankruptcy petition.
Assets and Liabilities
In addition to his real estate holdings, Giuliani’s assets include a 1980 Mercedes-Benz worth $25,000, about $30,000 in jewelry, and sports memorabilia. However, he has admitted that he does not know the value of some of these items, such as a signed picture of sports legend Reggie Jackson and a shirt signed by Yankees icon Joe DiMaggio.
The bankruptcy filing comes in the wake of a $148 million judgment against Giuliani. This judgment was the result of a lawsuit by Georgia poll workers Ruby Freeman and her daughter, Shaye Moss, whom Giuliani had falsely accused of election fraud. In the bankruptcy court filing, Giuliani stated,
“The debtor believes the outsized judgment is unreasonable on its face and does not reflect the true damages, if any, suffered by Plaintiffs.”
A Modest Lifestyle Amidst Financial Troubles
Despite his financial troubles, Giuliani has managed to maintain a modest lifestyle. He has $14,000 in his checking account and $351 in his savings account. He also has an “unknown” amount of shares in Uber and retirement accounts worth about $1.4 million.
From 2021 through 2023, Giuliani collected about $3.3 million in retirement benefits. This includes $1.3 million in pension distributions, almost $148,000 in social security benefits, and $1.8 million in IRA distributions.
Giuliani’s monthly expenses total $44,000. This includes a $13,500 court-ordered payment to his mother-in-law as part of a divorce agreement and $5,000 in alimony. He also has 10 pending lawsuits against him.
Ted Goodman, a political advisor and spokesperson for Giuliani, commented on the situation,
“Giuliani’s decision to seek bankruptcy protection should be a surprise to no one because no person could have reasonably believed that Mayor Giuliani would be able to pay such a high punitive amount.”
As Giuliani navigates his way through this financial and legal maze, one thing is clear: the twilight years of this once high-flying public figure are proving to be anything but golden. His case serves as a stark reminder of the unpredictable twists and turns that life can take, even for those who once stood at the pinnacle of power.
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