Net Worth Ranker
What Is Jim Bakker’s Net Worth
Jim Bakker, an American televangelist, minister, and television personality, has an estimated net worth of $500,000. This figure reflects his financial standing after a tumultuous career marked by both significant wealth accumulation and subsequent financial setbacks due to legal issues and scandals.
Early Career and Rise to Prominence
Jim Bakker’s career began in earnest after he met Tammy Faye LaValley at North Central University in Minneapolis, a Christian college affiliated with the Assemblies of God. They married in 1961 and embarked on a journey as nomadic evangelists, setting the stage for their future endeavors in television ministry. In 1966, they joined Pat Robertson’s Christian Broadcasting Network (CBN) in Portsmouth, Virginia, where they played a crucial role in the network’s growth. They hosted a children’s program called “Come On Over,” which contributed significantly to CBN’s popularity. Bakker was later appointed host of a new primetime talk show, “The 700 Club.”
In 1972, the Bakkers partnered with Paul and Jan Crouch to co-found the Trinity Broadcasting Network (TBN) in California. However, this partnership was short-lived, ending after only eight months due to disagreements between Bakker and Crouch.
Following their departure from TBN, Jim Bakker and Tammy Faye moved to Charlotte, North Carolina, where they launched their own Christian talk show, “The PTL Club,” in 1976. This show aired on Bakker’s PTL Satellite Network, which broadcast religious programming across the country. Over the following decade, Bakker developed a PTL headquarters called Heritage Village. He and Tammy Faye also expanded their ministry by building the Heritage USA theme park in Fort Mill, South Carolina. The theme park became one of the most successful in the United States, attracting large numbers of visitors and generating substantial revenue.
At the peak of their influence, Jim and Tammy Faye Bakker were reportedly receiving $1 million per week in viewer contributions to their ministry. These funds were intended to expand their theme park and support the PTL’s mission. However, allegations later surfaced that a significant portion of these funds was used for the Bakkers’ personal enrichment.
Financial Misconduct and Legal Troubles Impacting Jim Bakker’s Net Worth
In 1979, Jim Bakker and PTL faced their first major challenge when they came under investigation by the FCC for misusing funds raised on air. By 1982, it was discovered that Bakker had raised approximately $350,000 that was supposed to fund overseas missions, but was instead used to support his theme park. Further investigations by the FCC and the IRS revealed that PTL funds were being used for the Bakkers’ personal expenses. An IRS report indicated that $1.3 million in ministry funds was used for Jim and Tammy’s personal use between 1980 and 1983 alone, which is equivalent to around $4 million in today’s dollars.
The situation worsened in 1987 when news broke that Bakker and former “PTL Club” co-host John Wesley Fletcher had allegedly drugged and raped church secretary Jessica Hahn, and paid her nearly $300,000 in PTL funds as hush money. This scandal led to Bakker’s resignation from the ministry, with Rev. Jerry Falwell taking over as his successor. A subsequent 16-month federal grand jury probe resulted in Bakker’s indictment on eight counts of mail fraud, one count of conspiracy, and 15 counts of wire fraud.
Bakker was convicted on all counts and initially sentenced to 45 years in prison and fined $500,000. However, the United States Court of Appeals for the Fourth Circuit upheld the convictions but voided the 45-year sentence and fine, ordering a new hearing in 1991. Consequently, Bakker’s sentence was reduced to eight years. He was granted parole in 1994 after serving just short of five years, but still owed $6 million to the IRS.
The financial implications of these legal battles and settlements significantly impacted Bakker’s net worth, contributing to its current estimated value of $500,000.
Return to Televangelism and Current Ventures
Jim Bakker made a return to televangelism in 2003 with “The Jim Bakker Show,” broadcast from Branson, Missouri. On this show, he has publicly denounced the prosperity theology he previously advocated and embraced apocalypticism and survivalist themes. Bakker also founded Morningside Church in Blue Eye, Missouri, and reestablished the PTL ministry.
During the COVID-19 pandemic, Bakker faced further controversy when he sold colloidal silver supplements that he falsely advertised as a cure for the virus. This led to legal action and further tarnished his reputation.
Bakker is also the author of several books, including “Move That Mountain” (1976), “Eight Keys to Success” (1980), “I Was Wrong,” “Prosperity and the Coming Apocalypse,” “The Refuge: The Joy of Christian Community in a Torn-Apart World,” and “Time Has Come: How to Prepare Now for Epic Events Ahead.”
Personal Life and Relationships
With Tammy Faye, Bakker had two children, Tammy Sue and Jamie Charles. The couple divorced in 1992 following Bakker’s sentencing. In 1998, Bakker married Lori Beth Graham after a 50-day courtship. They adopted five children in 2002.
Throughout his career, Jim Bakker’s personal life and financial dealings have been subject to intense scrutiny, contributing to the fluctuations in his net worth. His current estimated net worth of $500,000 reflects the cumulative impact of his successes and failures in the world of televangelism and ministry.
