Harvey Weinstein, the disgraced Hollywood movie mogul, is facing another expensive trial as his estimated net worth has plummeted to less than a tenth of his previous $300 million wealth. Financial experts have revealed that despite spending decades in the industry, Weinstein’s net worth has dropped significantly due to his company’s bankruptcy, legal bills, divorces, and settlements.
Weinstein, who was recently transferred to Rikers Island jail after his rape conviction was overturned, is now estimated to have a net worth of around $25 million, a huge drop from his peak worth of $300 million. The collapse of The Weinstein Company, his legal battles, and settlements with his ex-wives have all contributed to his financial downfall.
The 72-year-old producer, known for his successful career in Hollywood, has sold off his properties, including his Hamptons family home, Los Angeles house, and residences in Connecticut and Manhattan, to cover his legal expenses. Reports suggest that he has liquidated all his major US properties following his conviction in 2020.
Weinstein’s legal expenditures have also been staggering, with his bills amounting to tens of millions of dollars since 2017. His legal team, led by high-profile attorneys, has been charging exorbitant fees for their services, further draining his finances.
As Weinstein prepares to face another trial in Manhattan Supreme Court, his rise and fall from a wealthy movie mogul to a financially depleted convict serve as a cautionary tale of the consequences of his actions.