This Is How Todd Chrisley Lost All Of His Money
Todd Chrisley, the star of Chrisley Knows Best, lives large. The reality star spends a lot of money, and many fans want to know what Todd does for a living. Papa Chrisley once had a pretty large bank account, but then he lost almost all his money.
Chrisley Knows Best follows Todd and his Southern family's story, as the Chrisleys put "fun" into a dysfunctional family tale. The reality TV patriarch is a huge germaphobe and hates dirt. Todd is not an animal lover, either; he believes animals carry too many germs. To watch the reality series, you'd think the family didn't have a care in the world, outside of Todd's often-quirky parenting style. But appearances aren't always what they seem.
According to Celebrity Net Worth, 95% of Todd's net worth came from real estate. He was once known as a real estate mogul, but those days are long gone. Keep reading to find out how Todd lost all of his money.
Todd Chrisley lived big and lost big
According to Celebrity Net Worth, Todd Chrisley has a net worth of negative $5 million. The Chrisley Knows Best star had a successful real estate business, but he lost it all. The family's reality TV series on USA Network probably saved Todd and their family financially when it began in 2014.
According to Forbes, Todd filed for bankruptcy in 2012, claiming that he had $4.2 million in assets and almost $50 million worth of debt. Ouch! But the family continued living their over-the-top lifestyle. After Chrisley Knows Best aired, the family lived their lavish life on camera while claiming that they didn't have money in bankruptcy court. So how did Papa Chrisley lose his fortune?
In 2014, Todd's attorney, Robert Furr, spilled to People why he was so far in debt. Furr told the outlet, "He guaranteed a real estate development loan and it failed. He was on the hook for $30 million. If he hadn't had that happen, he would have been fine, financially."
According to Celebrity Net Worth, Todd and his wife Julie Chrisley were arrested in Atlanta in 2019 on multiple charges that included "tax evasion, wire fraud, bank fraud, and conspiracy between 2007 and 2012." Recent reports reveal some of the state charges against the Chrisleys have been dropped, but federal charges remain. The reality star promised to give fans an update in April 2021. Todd's real life has more drama than a TV show.