Kenley Net Worth
Ken Lay Net Worth: Ken Lay was an American businessman who passed away with a net worth of negative $250,000 (but a maximum net worth of $400 million). Ken Lay was born in Tyrone, Missouri in April 1942 and died in July 2006. He is known for his involvement in the Enron scandal. Lay is the founder, CEO and chairman of Enron Corporation. The company used illegal and misleading practices to embezzle, hide and mislead funds from auditor Arthur Andersen. The scam was discovered in 2000 and became the largest bankruptcy case in the world. Ken Lay was selected by a grand jury. He was convicted of 10 counts of securities fraud but died three months before sentencing. As a result, his conviction was quashed. He graduated from the University of Missouri with a Ph.D. from the University of Houston. Lay has worked as an economist and as a Special Assistant to the Comptroller of the Navy and as a financial analyst for the Office of the Assistant Secretary of the Navy for the U.S. Navy. Ken Lay passed away on July 5, 2006 at the age of 64 from a heart attack caused by coronary artery disease.
legacy after death: At the peak of his life, Ken Lay had a personal net worth of $400 million. He owns more than a dozen homes and earned $42.4 million in total compensation in 1999 alone. Between 1998 and 2001, he received $300 million worth of stock and stock options. After Enron’s collapse, Lay claimed that Enron stock accounted for 90% of his net worth and that his property was technically worth negative $250,000 (2006). After his death, Enron’s creditors sued his widow, Linda, to recover a portion of the $10 million that Enron paid before the collapse to buy the two’s annuities. Creditors and Linda settled in 2011.
