Todd Chrisley Net Worth: Bankruptcy, Wife, House, Car, Bank Fraud, Tax Evasion
Todd Chrisley has a net worth of $1.5 million as of 2022, thanks to income from TV shows, sponsorship, and real estate.
Todd Chrisley is a reality television star in the United States who is best known for his show “Chrisley Knows Best.”
He is also a successful businessman and real estate developer. Chrisley grew up in South Carolina after being born in Georgia.
He came from poor beginnings and worked tirelessly to achieve his goal of becoming a successful real estate agent.
He eventually founded his own business, ‘Chrisley & Company,’ which is involved in media, retail, entertainment, and asset management. Chrisley rose to prominence after the premiere of his reality show ‘Chrisley Knows Best’ on television.
He became a celebrity practically immediately as a result of the show. The show premiered in 2014 and has since broadcast six seasons.
He also made a cameo appearance in the catastrophe science fiction comedy ‘Sharknado: The 4th Awakens,’ which is a parody of the hit film ‘Star Wars: The Force Awakens.’
Today, we’re going to talk about Todd Chrisley’s net worth and how he acquired it.
We’ll also tell you how to get rich like Todd Chrisley at the end of this article. So make sure you read all the way through.
What is Todd Chrisley Net Worth in 2022?
Todd Chrisley’s net worth is expected to be $1.5 million in 2022. He is a businessman, real estate agent, producer, reality star, and actor from the United States.
The performance and sponsorship gigs Todd earned in return are his main source of income. He also built a fortune in Georgia real estate and became a multi-millionaire thanks to his television show, “Chrisley Knows Best.”
As the proprietor of Chrisley Asset Management, Chrisley gained millions by effectively selling property.
The majority of Chrisley’s fortune came from real estate in his early years. According to Crunchbase, reality personality Chrisley originally operated Chrisley Asset Management, an investment firm that helped “rehabilitate and dispose of damaged commercial and residential assets.”
The company was created in 2002 but was forced to close in 2008 due to the collapse of the real estate market.
Over the years, Todd Chrisley has been involved in two notable bankruptcy cases. After amassing nearly $50 million in debt in 2012, Chrisley Asset Management (CAM), his now-defunct investment firm, filed for bankruptcy in 2013, along with his personal bankruptcy.
He had only $4.2 million in assets, $55 in a bank account, and $100 in cash when he filed for bankruptcy in 2012. The Chrisleys had to cut back on their lavish lifestyle due to his financial difficulties.
Todd Chrisley Analysis
|Net Worth:||$2 Million|
|Source of Wealth:||Businessperson|
Where does Todd Chrisley money come from?
Todd Chrisley makes the majority of his money from his TV show and real estate.
He rose to prominence as the star of the reality show “Chrisley Knows Best” on the USA Network. The show follows Todd Chrisley and his family as they go about their daily lives.
It began on April 2, 2019 as a spin-off series centering on Todd’s children, Chase and Savannah.
Despite the fact that Mr. Chrisley and his family live a luxury lifestyle, Todd Chrisley is the owner of Chrisley Asset Management, a company that has been failing for several years.
Spending $300,000 a year on clothes and owning a 30,000-square-foot estate is part of their way of life.
Does Todd Chrisley Make From TV Shows?
Todd Chrisley has appeared in a number of television shows, including ‘Steve Harvey’ and ‘The Domenick Natii Show.’ In 2014, he debuted his own show, ‘Chrisley Knows Best,’ and became a celebrity.
His life as a real estate entrepreneur and a family man is the focus of the episode. The show has received largely mixed reviews.
The show had a 75 percent rating and a great review from Tom Gliatto of the weekly magazine ‘People,’ who called it the best family reality series since ‘Honey Boo Boo’ and ‘The Osbournes.’
The show received a mixed review from Hilary Busis of the American magazine ‘Entertainment Weekly,’ who criticized the cliched sayings and sub-sitcom scenarios.
She did, however, compliment the Chrisley crew on their sense of humour. So far, six seasons of the show have aired (as of April 2019).
Because he is a self-made millionaire, Chrisley was formerly seen as an inspirational person.
He filed for bankruptcy protection in 2012. He said that his case was settled after three years.
Is Todd Chrisley Bankrupt?
Todd Chrisley is embroiled in a $45 million bankruptcy dispute stemming from a failed real estate venture.
A bankruptcy trustee claimed that Todd hid millions of dollars in assets in his wife’s name in a recent court case. Christie’s lawyer refutes these claims.
Chrisley filed for bankruptcy in 2012, claiming $4.2 million in assets and $50 million in obligations.
Todd said he only had $100 in cash and $55 in his checking account in the same filing. Chrisley Asset Management declared bankruptcy in 2013.
Todd reported more than $600,000 in IRS penalties, late fees, and debt on the Atlanta mansion’s $12 million mortgage.
His wife, on the other hand, is claimed to be a millionaire in her own right.
Todd Chrisley Bank Fraud and Tax Evasion
Todd and Julie Chrisley have been convicted on all counts of bank and tax fraud. The couple could get up to 30 years behind bars.
What led to Todd Chrisley’s arrest?
Todd and Julie Chrisley were charged in a multi-count indictment in Atlanta on August 14, 2019.
They were accused with tax evasion, wire fraud, bank fraud, and conspiracy between 2007 and 2012.
The pair allegedly made fraudulent claims to banks, defrauding themselves of millions of dollars in bank loans, according to the indictment.
They are also accused of evading federal taxes. Their accountant was also named as a suspect.
In a social media post, Todd and Julie claimed that the criminal activities were perpetrated by a former employee who stole from the family and carried out the offenses without their knowledge.
Their court appearance was rushed, and they were released after posting $100,000 in unsecured bond. They are also not permitted to fly to Atlanta or California unless they are recording their show.
Todd Chrisley’s Cars Worth Explored
He doesn’t show off his expensive rides on the show, but you can see some of them on his Instagram, A Mercedes Benz, a Range Rover, and an Audi are among his automobiles.
A look at Todd Chrisley Houses
Chrisley and his family relocated to Nashville in 2015, where there is no income tax, and purchased a $1.6 million property.
In June 2019, the Chrisleys paid $3.4 million for a property near Nashville. The house was put on the market for $4.7 million two months later, amid charges of financial crimes.
How Did Todd Chrisley Become So Rich?
Todd is said to be a self-made millionaire who made his money in real estate investing. He is said to have obtained a check in the amount of $49.
We owe $4 million due to a bad real estate investment. His lawyer, Robert Furr, said the financing fell through because he guaranteed it.
Is Todd Chrisley still rich?
Todd’s net worth is believed to be -$5 million, according to Celebrity Net Worth. Despite the fact that the family patriarch most likely makes a good wage, he needs a constant source of money to stay afloat.