Who is Todd Chrisley?
Wondering what is Todd Chrisley net worth? Michael Todd Chrisley known as Todd Chrisley is a real estate tycoon from Georgia, United States. He is also a TV star and a social media influencer. He is most well known for the reality show Chrisley Knows Best. The show is so popular that it is the title of the Todd Chrisley Wikipedia biography.
There are interesting things about this man in Wikipedia he is a Germophobic who would try to avoid dirt and animals, easily irritated and also seen by the family as controlling and can be unreasonable.
The show revolves around the daily lives of the wealthy Todd Chrisley family- Todd, his wife Julie, and five Todd Chrisley children. But the answer to “how many kids do Todd and Julie Chrisley have together?” is three; the other two are from his previous marriage.
Todd was married to Teressa Terry and had two children, namely Lindsie and Kyle. They got divorced in 1996, until 1996, after which he remarried. He married Julie Hughes, a former beauty pageant queen, and now the name at the top of searches like ‘Todd Chrisley wife”. Todd and Julie Chrisley have three children- Savannah, Chase, and Grayson.
Todd Chrisley Net worth 2020
Their bewildering story makes fans wonder, how much are the Christleys worth? As of today, Todd Chrisley’s net worth is a negative five billion dollars. Yes, negative. The answer to Todd Chrisley net worth 2018 and Todd Chrisley net worth 2019 was also the same.
Anyone who watches the Chrisley family’s spending sprees and indulgences on their show would think otherwise. How did this happen? There is a tragic tale behind this unfortunate plight of this filthy rich mogul.
How did Todd Chrisley make his money?
The Chrisley patriarch has made a fortune from Chrisley Knows Best. But the answer to the search “Todd Chrisley job” and “What does Todd Chrisley do for a living?”- is real estate business. He was mainly in the real estate business in Georgia. He founded a company named Chrisley Asset Management in 2000, and it was a somewhat successful venture initially. They would buy the foreclosed property and sell it for profit.
How did Todd Chrisley lose all his money?
It is a known fact that Chrisley was enjoying a lavish lifestyle with his family. However, his business was often not doing well. In 2012, he declared bankruptcy and claimed to have $4.2 million in assets and $50 million in debt. Moreover, he admitted that he had only $100 in cash and $55 in his checking account.
A year later, in 2013, his company filed for corporate bankruptcy. He was drowning in a $12 million mortgage on his Atlanta mansion and debts, late fees and penalties adding up to $600,000. It was against this backdrop that Chrisley Knows Best aired.
Image source: Wikimedia
Chrisley Knows Best is a story of his Southern family and their playful encounters, fights, and quirks. The tale is eight seasons long. It first aired in 2014 and wound up with the eighth season in 2020. The show made quite a buzz on the USA network. In 2019, they also aired a spin-off named Growing Up Chrisley, focusing on his daughters Chase and Savannah.
Many people in Todd’s life, including his children from the previous marriage, his mother, and his nanny, have made appearances on the show. Todd’s relationship with Lindsie and Kyle has had its ups and downs. But the show has a huge fan base on social media.
It was but natural for viewers to raise their eyebrows at the Chrisleys’ showcasing of their lavish lifestyle in a 30,000 square feet mansion in Atlanta. The show gave glimpses into the family’s spending habits, clothing preferences, property, and so on. Some moments on the show were particularly shocking, like the one where Todd threw his son’s laptop in the swimming pool.
In 2014, they explained their situation to People Magazine. They reduced the crisis to a failed real estate development loan and an issue of $30 million, claiming that they wouldn’t be in that situation if the loan hadn’t gone wrong.
In 2015, the family moved to Nashville, perhaps so that they wouldn’t have to pay state income taxes. In Nashville, they bought a home worth $1.6 million. Moreover, they spent another $3.4 million on another property outside Nashville in 2019. Unfortunately, they would go on to put it for sale on the market just two months later.
Todd Chrisley Bankrupt: The 2019 Case
In 2019, Todd Chrisley and his wife Julie Chrisley were arrested on multiple charges, including tax evasion, bank fraud, wire fraud, dodging federal tax bills and a conspiracy between 2007 and 2012.
The Todd Chrisley tax evasion was a devastating scandal, and it left a scar. News stories about the family’s wealth were replaced by headlines like ‘Todd Chrisley broke”. There were long accounts of this incident on Todd Chrisley Wiki. They provided fraudulent information and obtained vast amounts of money through bank loans. Authorities also pressed charges on their accountant.
They justified their actions in a social media post by blaming an employee and saying that he committed the crimes behind their back. Todd Chrisley Instagram post said that they knew that they had done nothing wrong and had evidence and witnesses to prove it.
Nevertheless, they were ordered to post unsecured appearance bonds worth $100,000 and appear in court. They were restricted from traveling to Atlanta and California unless they were taping their show. They ended up resolving the issue with a cash settlement and got the charges dropped!
They got involved in a bankruptcy case worth $45 million involving his real estate empire.
During the legal proceedings of this high-profile case, Chrisley claimed that his clothes were only worth $650. Not surprisingly, an investigation revealed that he had transferred a staggering amount of $700,000 from his company to his wife’s account. His lawyer denied the allegation that Chrisley had hidden assets in his wife’s name worth millions of dollars.
Where are the Chrisleys now?
So, how are they now? Where does Todd Chrisley live? Recently, they have moved into a magnificent home in Nashville. Todd has an eight-year-old granddaughter. Todd Chrisley granddaughter, the daughter of his son Kyle from Todd’s previous marriage, is named Chloe.
A lot of media attention has recently centered around Chloe’s father, Kyle, and his engagement. The Chrisleys have been through long years of turbulence and chaos. But their lives never cease to be happening, as is evident from the number of journalists tracking their social media updates. Curious to know about other scandalous celebrities? Check them out here.