With the new HBO documentary coming out about Bernie Madoff and his financial fraud of billions of dollars, there’s clearly a lot to learn about his wife, Ruth Madoff. Who much money remains of her fortune? What made her continue to visit Bernie in prison for 4 years until her son, Andrew, gave her an ultimatum?
Ruth Madoff And The Ups And Downs Of Wealth
After being married to Madoff for more than 50 years, did she really not know what was going on? These are all questions that we hope HBO will answer but until then, let’s learn a little more about Ruth Madoff’s net worth and just how she finances her current life.
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Ruth Madoff met Bernie Madoff when she was still in high school. She married him at the age of 18 and worked as Bernie’s bookkeeper.
At the time of Bernie’s sentencing, Ruth Madoff was certainly worth quite a bit of money. Per records, she and Bernie Madoff had identified in tax filings, being worth as much $138 million, plus $700 million for the value of Bernard Madoff Investment Securities LLC. Additionally, Ruth Madoff and Bernie Madoff had securities worth $45 million, cash worth $17 million, a yacht worth $7 million, jewelry worth $2.6 million, a Manhattan apartment worth $7 million, a Montauk home worth $3 million, a French property worth $1 million, a Palm beach home worth $11 million. Add to that household items, art and furniture worth an addition $9.9 million.
Ruth Madoff After The Arrests
But how much was Ruth Madoff allowed to keep? It was reported that her personal assets came to a total of $80 million but after Bernie Madoff’s sentencing, countless lawsuits have been filed to recover the money that Madoff swindled out of victims of his fraud. Another interesting fact in the Madoff case was that a few weeks before her husband’s arrest, Ruth Madoff withdrew $15.5 million.
Still, Ruth Madoff no longer lives in Manhattan, now living in a small condo in old Greenwich, Connecticut said to rent for $3000 a month. To pay off creditors, the majority of the Madoff fortune was sold off.
Ruth Madoff Net Worth 2017
So how much is Ruth Madoff net worth in 2017? Ruth Madoff is reported to have been allowed to keep a lump sum of $2.5 million but had to pay off quite a few legal fees and other bills. We estimate Ruth Madoff net worth in 2017 at less than $1 million.