How Much Money does Tom Girardi have?
Tom Girardi is an attorney in the United States who has a net worth of $100,000. Tom might be best known for being Erika Jayne’s ex-husband. Jayne is a cast member on “Real Housewives.” From 1999 to 2020, they were married. Tom thought his net worth was about $264 million in 2015. In a 2020 court case, Tom said that he used to be worth between $50 million and $80 million, but he no longer had any money. It’s hard to understand, but we’ll try to explain everything in a minute.
Successful Consumer Lawyer:
Before becoming famous for being on a reality show, Tom was known as a very successful consumer lawyer in California. Tom won billions of dollars in court cases for his clients over several decades. His firm, Girardi & Keese, was the first to take on significant cases on a contingency basis, which means that clients didn’t have to pay anything upfront. In exchange, Girardi & Keese would get 25–40% of the final judgment amount. Because of these cuts, Tom became very rich.
Start of a Job:
He came into the world in June 1939. Girardi went to Loyola Marymount University, Loyola Law School, and New York University and got degrees from all three.
Lawyer in the State of California:
In 1970, Girardi was the first lawyer in the state of California to win a medical malpractice case worth more than $1 million. He took on cases against companies like Lockheed Corp., the Los Angeles County Metropolitan Transportation Authority, and Pacific Gas & Electric Co. Girardi also took on the seven biggest Hollywood movie studios. His famous case against Pacific Gas & Electric gave $333 million to 650 people in Hinkley, California. The movie Erin Brockovich was based on this case.
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Tom got married to the actress Erika Chahoy in 1999. He was in his 60s when she was in her late 20s. It was his second marriage, and he was still in a heated argument with his first wife about their property. When they met, she was a waitress at Chasen’s, a restaurant in Beverly Hills that Tom co-owned with his brother.
Erika Jayne became well-known when she was on the reality TV show “The Real Housewives of Beverly Hills” many years later. In 2015, she began to be on the show.
While Erika was becoming famous for being on a reality show, it was said that Tom was trying to get loans for his law firm. A report in the LA Times says that during this time, Girardi put down $264 million as his net worth on a loan application. In the filing, they said they owned two private planes, jewelry worth $9 million, antiques worth $3 million, and a home in Pasadena worth more than $10 million. He thought, “Conservatively,” that his firm’s legal fees for 2016 would be more than $110 million.
Tom and Erika put their Pasadena mansion on the market for $13 million in May 2021.
Law Finance Group, one of his creditors, reportedly got worried when it looked at Girardi’s books and saw that millions of dollars were being sent to EJ Global LLC, which is Erika’s entertainment company. It is said that the total amount transferred was more than $20 million.
Protect their Pasadena Home:
The creditor filed a lawsuit to get their money back, saying that Tom and Erika were spending it on their lifestyle. Tom said that the claims were a lie. In the end, they moved.
Other creditors showed up, like the security company hired to protect their Pasadena home, which wanted $53,000, and Tom’s first wife, who said she was no longer getting her $10,000 in alimony each month.
One of Girardi’s clients, a man who was burned in a PG&E pipeline explosion in 2010, came forward to say that he had not received the millions of dollars he was supposed to get as a settlement. In January 2020, Girardi agreed to pay the man $12 million, but after only paying him $1 million, he allegedly stopped paying him. The family went to court and put a lien on Girardi and Jayne’s assets, which were worth about $23 million.
Blame to Stole Money:
Tom and his law firm were enforced to file for Chapter 7 bankruptcy in December 2020. His two former law partners were among his creditors. Each of them said he owed them $750,000 and $1.5 million. A federal lawsuit filed a month earlier said that Tom stole “millions” of dollars that were owed to clients.
The Los Angeles Times says that during testimony Tom gave in late 2020, Tom Girardi said that: “I had about $80 million or $50 million in cash at one point. All of that is gone. I have no cash on me.” Tom said that his stock portfolio, which was once worth $50 million, was now only worth a few thousand dollars when it was looked at.
Settlement Money for Case:
A creditor testified in court a year earlier that Girardi gave $20 million to Erika’s entertainment business. Plaintiffs in the bankruptcy case said that Tom and Erika’s divorce was a “sham” and that she might be sitting on that $20 million. More creditors are said to have come forward with similar claims that Girardi did not send the settlement money.
Legal Demand to Erika Lawyers:
Lawyers in charge of the Girardi Keese bankruptcy sent a legal demand to Erika’s lawyers in August 2021. The demand said that between 2008 and 2020, Erika spent $25 million on assistants, a full-time glam team, PR firms, and a dance agency. The New York Post said that the letter said Erika spent $14.25 million on her American Express card alone.
When interest and penalties were added, the trustees asked Erika to pay back $28 million. The New York Post wrote about the claims, and Erika’s lawyers said that she was not guilty “Erika has never been responsible for EJ Global LLC’s debts or obligations, and she never will be. Also, none of the payments or any money went to Erika. On Erika’s behalf, we will take action against all those who are to blame for claims like these.”