Net Worth Ranker
What Is Michael Cohen’s Net Worth?
Michael Cohen, an American lawyer, author, and convicted felon, has a net worth estimated at $1 million as of 2025. His financial status has seen considerable fluctuation, marked by periods of apparent wealth followed by significant financial strain. Cohen’s reputation is largely built on his former role as Donald Trump’s personal attorney and his long-standing association with The Trump Organization.
Financial Overview and Income Streams
During his tenure as a lawyer for The Trump Organization, Michael Cohen received an annual salary of $1 million. He joined the organization in 2006, holding the titles of Executive Vice-President and co-president of Trump Entertainment. Cohen’s involvement extended to Trump’s 2016 presidential campaign, where he played a supportive role, and he also served on the board of the Eric Trump Foundation.
Post-Trump Organization, Cohen generated income from writing. By 2024, during Donald Trump’s criminal trial, it was revealed that Cohen had earned $3.4 million from two books published following his departure from Trump’s inner circle.
In 2012, arbitration documents revealed that Cohen was earning approximately $1 million annually from his taxi medallion investments.
Assets and Investments
In 2003, Cohen invested $1.5 million for a 30% stake in a Florida riverboat casino. However, the venture was short-lived, leading to the casino’s failure after a few months and triggering over 25 lawsuits from creditors, although Cohen was not personally named as a defendant in these cases.
There are reports of Cohen’s investment in a Ukrainian ethanol business in 2006, although specific details and financial outcomes of this venture are not readily available.
Real estate has been a significant part of Cohen’s investment portfolio. In 2015, he reportedly purchased a $58 million apartment building on New York City’s Upper East Side. Additionally, his family members reportedly owned 12 apartment units in Trump buildings around the country.
Michael Cohen and his wife own a penthouse located at Trump Park Avenue, which is valued at $9 million.
Taxi Medallion Investments
At one point, Cohen’s paper net worth exceeded $100 million due to his investments in New York City taxi medallions. Before ride-sharing services like Uber and Lyft became prevalent, a single taxi medallion could sell for over $1 million. Cohen’s share of the medallion collection was worth at least $100 million at its peak.
Cohen reportedly sold a stake in one of his taxi companies to Ukrainian businessman Simon Garber. In 2012, Garber filed a lawsuit alleging that Cohen had failed to pay insurance settlements resulting from accidents involving their taxis. At one point, Cohen co-owned a large number of taxi medallions with a Russian named Evgeny Freidman, who was once considered a taxi billionaire due to the sheer number of medallions he owned. However, in 2018, the majority of Freidman’s medallions were auctioned off to satisfy outstanding debts, raising approximately $24 million.
Legal Troubles and Financial Difficulties
Cohen faced significant financial challenges due to mounting legal bills, which reportedly reached over $100,000 per month. He also reportedly owed at least $1.4 million to the IRS. During the 2016 hush money payments to Stormy Daniels and Karen McDougal, Cohen used funds obtained from a $500,000 home equity loan.
In a 2016 loan application, Cohen and his wife claimed to have a combined net worth of $40 million. However, in recent years, Cohen claimed to be experiencing severe financial problems due to ongoing legal expenses. In late 2019, reports indicated that Cohen and his wife owed nearly $2 million to the IRS.
Cohen’s legal troubles began to escalate when his office and home were raided by the FBI in April 2018. He was subsequently fired from the Trump Organization in May 2018. In August 2018, he pleaded guilty to charges including tax evasion, bank fraud, and campaign finance fraud, leading to a three-year federal prison sentence in December 2018.
Early Life and Education
Michael Cohen was born on August 25, 1966, in Long Island, New York. He grew up in a Jewish family; his father was a surgeon, and his mother was a nurse. Cohen attended American University in Washington D.C., earning his undergraduate degree in 1988. He then attended Thomas M. Cooley Law School in Michigan, obtaining his law degree in 1991.
Career Before The Trump Organization
Before joining The Trump Organization, Cohen worked at several law firms and started his own practice in 1997. He specialized in personal injury law and real estate law, with clients including several Russian-American businessmen. Cohen also became involved in politics, serving as a delegate for the Democratic Party in 2004 and working on various political campaigns.
Role in The Trump Organization
In 2006, Michael Cohen joined The Trump Organization, where he served as the company’s executive vice president and special counsel. His responsibilities included handling legal and business matters for the company and Donald Trump personally. Cohen quickly gained a reputation as a staunch defender and loyal confidant of Trump, often managing sensitive and controversial issues for the businessman.
Controversies and Legal Issues
Cohen’s tenure at The Trump Organization was marked by numerous controversies and legal troubles. In 2018, he pleaded guilty to several charges, including campaign finance violations, tax fraud, and lying to Congress. These charges stemmed from his involvement in paying hush money to two women who claimed to have had affairs with Donald Trump, as well as his role in a failed attempt to build a Trump Tower in Moscow. Cohen’s guilty pleas resulted in a three-year prison sentence, which he served from 2019 to 2021. During his imprisonment, he cooperated with federal investigators, providing damaging testimony about Donald Trump’s business practices and personal behavior.
Personal Life
Cohen has been married twice and has two children. He is known for his extravagant lifestyle, including a fondness for luxury cars and expensive clothing. Despite his legal troubles and controversies, Cohen has remained a vocal critic of Donald Trump and his administration, frequently appearing as a commentator on cable news shows. He also authored a memoir about his experiences working for Trump, titled “Disloyal: A Memoir.”
