| Net Worth: | $1 Million |
| Last Updated: | 2019 |
Paul Manafort net worth: Paul Manafort is an American lobbyist and political consultant who has a net worth of $1 million. 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. 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.
Arrest: 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 claim that Manafort laundered $18 million through shell companies that paid for a lavish lifestyle of luxury cars, homes and vacations. The charges carry a potential 20 year prison term. In total, he faces 12 charges including being an unregistered foreign agent, not paying taxes and lying on federal disclosure forms. 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