Net Worth Ranker
What Is Todd Chrisley’s Net Worth?
Todd Chrisley, an American businessman, reality television personality, and convicted criminal, currently has a net worth of -$18 million. This negative net worth is largely due to legal judgments against him and his wife, Julie Chrisley, related to a large-scale tax and fraud scheme.
Financial Downfall and Legal Battles
The Chrisleys’ legal troubles significantly impacted their financial standing. In 2019, Todd, Julie, and their accountant were indicted on wire fraud and tax charges. They were accused of defrauding banks of $36 million using false bank statements, inflated personal financial statements, and fake audits. These funds were allegedly used to finance a lavish lifestyle while evading taxes. Todd Chrisley once filed for bankruptcy, attempting to escape approximately $20 million in debt. The Department of Justice stated that the Chrisleys spent the fraudulently obtained money on luxury cars, designer clothes, real estate, and travel, using new fraudulent loans to pay back old ones.
Their trial commenced in May 2022 and lasted six weeks. In June 2022, Todd and Julie were convicted. On November 21, 2022, Todd Chrisley was sentenced to 12 years in prison, while Julie received a seven-year sentence. Both will serve three years of probation after their prison terms. Prosecutors described them as “career swindlers who have made a living by jumping from one fraud scheme to another, lying to banks, stiffing vendors, and evading taxes at every corner.” As part of their conviction, Todd and Julie were ordered to pay $17 million in restitution to the banks they defrauded, further diminishing their net worth.
Chrisley Asset Management, owned and operated by Todd Chrisley, played a significant role in the couple’s legal issues. Court documents indicated that the firm struggled financially for years, even as the Chrisleys maintained an extravagant lifestyle, including owning a 30,000-square-foot mansion and spending $300,000 annually on clothes. On August 14, 2019, Todd and Julie Chrisley were arrested in Atlanta on a multi-count indictment involving tax evasion, wire fraud, bank fraud, and conspiracy. The indictment alleged that between 2007 and 2012, they used Chrisley Asset Management to seek $36 million in bank loans for buying and selling foreclosed properties. Prosecutors claimed they provided false information, drastically inflating their net worth, to secure these loans.
For example, the indictment stated that in November 2007, Todd and Julie presented a fabricated financial statement to a bank. The statement claimed they had $776,509.52 on deposit at Merrill Lynch. In response, Todd Chrisley allegedly told an accomplice to “make it show 4 mil+.” In reality, they did not have a Merrill Lynch bank account at that time, and when they did open one a year later, it never contained more than $17,000. Furthermore, they allegedly evaded federal tax bills. IRS agents noticed that the Chrisleys spent thousands of dollars on electronics during an episode of their reality show while simultaneously pleading poverty to the IRS.
In February 2022, a new indictment was filed, accusing the couple of using a film production company to hide $2 million in unpaid taxes owed to the IRS. This $2 million tax bill was allegedly related to earnings from their TV show, which they hid in a production company they controlled called 7C’s Productions. In this updated indictment, Todd and Julie were charged with one count of conspiracy to commit bank fraud, one count of conspiracy to defraud the United States, one count of tax fraud, and five counts of bank fraud. They pleaded not guilty initially but were later convicted. In April 2024, Todd was ordered to pay $755,000 in punitive and legal damages to a woman he attacked over social media.
Bankruptcy and Assets
Todd Chrisley’s financial troubles extend back to a $45 million bankruptcy case involving his real estate empire. In court, a trustee claimed Todd hid millions of dollars’ worth of assets in his wife’s name, allegations that his lawyer denied. Todd Chrisley first filed for bankruptcy in 2012, claiming $4.2 million in assets and $50 million in debt. He stated he only had $100 in cash and $55 in his checking account. Chrisley Asset Management filed for corporate bankruptcy in 2013. His mortgage on the Atlanta mansion totaled $12 million, and he reported nearly $600,000 in IRS late fees, debts, and penalties.
In 2015, the Chrisley family moved to Nashville, where there are no state income taxes, purchasing a home for $1.6 million. In June 2019, they spent $3.4 million on a home just outside of Nashville. Two months later, amid their alleged financial crimes, they put the home on the market for $4.7 million. These mansions, worth a combined $9 million, might be sold to pay restitution. On camera, Chrisley often flaunted his expensive lifestyle and designer clothes. However, in a bankruptcy filing, he claimed his clothes were worth only $650.
Career Highlights and Earnings
Todd Chrisley gained fame through the USA Network reality series “Chrisley Knows Best,” which premiered in 2014. The show followed his family’s daily lives, showcasing his luxurious lifestyle and strict parenting. A spin-off, “Growing Up Chrisley,” focusing on his children Chase and Savannah, premiered on April 2, 2019. As of this writing, there have been more than 200 episodes of “Chrisley Knows Best” across nine seasons. Several episodes from the previously-renewed 10th season were filmed before the trial and aired in 2023. The show is broadcast in the U.S., Canada, the U.K., Australia, and Asia.
In August 2017, USA Network announced a half-hour after-show called “According to Chrisley,” hosted by Todd Chrisley. The talk show, which featured Todd discussing marriage, parenting, sex, and relationships with family members and celebrity guests, premiered on September 12, 2017, but was canceled after one season.
In 2016, Chrisley released the country single “Infinite Love” with Sara Evans, which peaked at #19 on the Billboard Country Digital Singles chart. While specific earnings from the song are not publicly available, its chart performance suggests some level of income from sales and streams.
Real Estate Holdings
In 2015, Todd Chrisley relocated his family to Nashville and acquired a residence for $1.6 million. Subsequently, in June 2019, the Chrisleys invested $3.4 million in a property situated just outside Nashville. However, a mere two months later, amidst allegations of financial misconduct, they listed the home for sale at $4.7 million. These properties, valued at an approximate combined worth of $9 million, may be subject to liquidation to satisfy restitution obligations.
