Paul Manafort Net Worth
What is Paul Manafort net worth?
Paul Manafort is an American lobbyist and political consultant who has a net worth of $10 million. He is best known for being the one-time campaign manager for Donald Trump. At his peak, his net worth topped $70 million according to Federal prosecutors. He would eventually forfeit more than $22 million in assets to the Federal government. He was sentenced to prison on charges of tax and bank fraud. He was imprisoned from June 2018 until May 2020. He was released after being pardoned by Donald Trump.
Paul Manafort was born in New Britain, Connecticut in April 1949. He is a Republican who graduated from Georgetown University, earning his BS and JD. Manafort served as campaign manager for presidential candidate Donald Trump in 2016. He has also served as an advisor for the presidential campaigns of Republicans including Gerald Ford, Ronald Reagan, Bob Dole, and George H.W. Bush. He served as a senior partner in the firm Davis, Manafort, and Freedman, and lobbied on behalf of several controversial foreign leaders.
He has been associated with Jonas Savimbi, the Pakistani Inter-Service Intelligence Agency, and Ukraine among others. Manafort reportedly purchased several pieces of real estate worth a combined $11 million from 2006 to 2012. He also allegedly received $12 million in undisclosed payments from the pro-Russian former President of Ukraine. He eventually took on seven home equity loans worth more than $19 million. Years later we would learn that Paul earned $60 million consulting for Ukranian billionaires.
On October 30, 2017 Paul Manafort turned himself into the FBI to face a series of charges. He was indicted on charges of money laundering. Authorities claimed that Manafort laundered $18 million through shell companies that paid for a lavish lifestyle of luxury cars, homes and vacations. The charges carried a potential 20 year prison term. In total, he faced 12 charges including being an unregistered foreign agent, not paying taxes and lying on federal disclosure forms. He was ultimately sentenced to more than 70 months in prison. He was in jail from June 2018 to May 2020. He was released after being pardoned by Donald Trump.
According to the indictment, here are some of the ways Manafort spent his illicit millions:
- $5.4 million on home improvements in the Hamptons
- Nearly $1 million at an antique rug store
- $900,000 at a men's clothing store in New York City
- $800,000 on landscaping for his Hamptons home
- Three Range Rovers
- A $1.5 million condo in New York City
- A $3 million brownstone in Brooklyn
- A $2 million house in Virginia
The government was initially given approval to seize and sell all of Manafort's properties. After being pardoned, a federal judge allowed Paul to keep any properties that had not been sold yet. Those properties included his home in the Hamptons, a $3 million condo in New York City and a townhouse in Brooklyn.
In 1994 Paul and his wife paid $400,000 for a 2.4 acre property in the Hamptons. They proceeded to build a 5,700 square-foot home on the property. This is the property where he allegedly spent around $6 million in illicit funds on home improvements. He sold this home in November 2021 for $10.1 million.
|Net Worth:||$10 Million|
|Date of Birth:||Apr 1, 1949 (72 years old)|
|Place of Birth:||New Britain, Connecticut, U.S.|