Paul Manafort net worth
Number of divisions: 7
What is Paul Manafort’s net worth?
Paul Manafort is an American lobbyist and political consultant with a net worth of US$10 million. He is best known as a campaign manager for Donald Trump. According to federal prosecutors, at his peak, his net worth was as high as $70 million. He will eventually confiscate more than $22 million in assets from the federal government. He was sentenced to jail on tax and bank fraud charges. He was imprisoned from June 2018 to 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 and graduated from Georgetown University with a bachelor’s degree and a juris doctor degree. Manafort became the campaign manager of presidential candidate Donald Trump in 2016. He also served as a presidential campaign adviser to Republicans such as Gerald Ford, Ronald Reagan, Bob Dole, and George HW Bush. He has served as a senior partner of Davis, Manafort, and Freedman, and has lobbied on behalf of several controversial foreign leaders.
Drew Angler/Getty Images
He has been in contact with agencies such as Jonas Savimbi, Pakistan’s Inter-Service Intelligence Agency, and Ukraine. According to reports, Manafort purchased several real estate worth US$11 million from 2006 to 2012. He also allegedly received an undisclosed payment of US$12 million from the pro-Russian former president of Ukraine. He eventually received seven home equity loans worth more than $19 million. After many years, we will learn that Paul provided Ukrainian billionaires with US$60 million in consulting services.
arrest
On October 30, 2017, Paul Manafort surrendered to the FBI and faced a series of charges. He was charged for money laundering. Authorities claim that Manafort laundered US$18 million through shell companies that pay for the luxury lifestyle of luxury cars, residences and vacations. These charges may be punishable by 20 years in prison. He faces a total of 12 charges, including unregistered foreign agents, non-taxation and lying on federal disclosure forms. He was eventually sentenced to more than 70 months in prison. He was imprisoned from June 2018 to May 2020. Released after being pardoned by Donald Trump.
According to the indictment, the following are some of the ways Manafort spent his millions of illegal funds:
- US$5.4 million for home renovation in Hampton
- Nearly $1 million from an antique carpet shop
- $900,000 in a menswear store in New York City
- $800,000 for landscaping his Hampton home
- Three Range Rover
- $1.5 million apartment in New York City
- Brooklyn’s $3 million brownstone
- $2 million house in Virginia
The government was initially allowed to confiscate and sell all Manafort’s property. After being pardoned, a federal judge allowed Paul to keep any unsold properties. These properties include his home in Hampton, a $3 million apartment in New York City and a townhouse in Brooklyn.
Hampton House
In 1994, Paul and his wife paid $400,000 for a 2.4-acre property in Hampton. They started to build a 5,700 square foot house on the property. He allegedly spent approximately US$6 million in illegal funds on this property to improve the house. He sold the house in November 2021 for $10.1 million.
