Disgraced MF Global chief Jon Corzine, whose broker-dealer firm filed for bankruptcy last week, might be worth A LOT less that initially thought, Fox Business’s senior correspondent Charlie Gasparino reported citing unnamed sources.From FBN:
In fact, Corzine, these people say, is worth far closer to $1 million than he is to $1 billion, particularly after the MF Global debacle and the legal headaches it will cost him for years to come.
OK so $1 million is a boatload of money to a bunch of people, but that’s still a ton of money that’s been blown away over the years.
When Corzine left Goldman Sachs in 1999 he was believed to have a net worth of $350 million.
Gasparino breaks down where some of that money could have gone.
- $130 million on political campaigns
- A costly divorce
- A spate of bad investments
- $50 million invested in MF Global
But all of that still leaves Corzine with several million, but he faces potential fines and legal troubles as a result of the whole MF Global debacle, so that closer to a million estimate might be accurate.