The Messenger reports that former New York City Mayor Rudy Giuliani has disclosed a financial state bordering on the federal poverty level. This disclosure came as part of a bankruptcy filing in the U.S. Bankruptcy Court for the Southern District of New York.
According to the financial statements filed, Giuliani’s gross income for 2023 stood at $18,480, from January 1st to December 21st, the day of his bankruptcy filing. This figure is alarmingly close to the federal poverty level, which was $14,580 for individuals last year, as per the Department of Health and Human Services. The contrast is stark when compared to his income of $200,000 in 2022 and a negative $55,511 in 2021. Giuliani’s financial downturn is notable, considering his prominent role as the personal lawyer for former President Donald Trump.
The bankruptcy filing reveals a complex financial picture for Giuliani. Despite reporting such low income, his assets total over $10.6 million, while his liabilities are nearly a staggering $153 million. His monthly net income is listed as only $2,308. Among his assets are a $5.6 million condo in New York, a $3.5 million single-family home in Palm Beach, Florida, and a Mercedes-Benz SL500 valued at $25,000.
Giuliani’s affidavit also details ownership of $30,000 worth of jewelry, including three Yankees World Series rings and 26 watches. His collection of signed sports memorabilia, which includes a Joe DiMaggio shirt and items related to Reggie Jackson and Yankee Stadium, adds to his asset list. Financial accounts such as IRAs and a 401(k) further contribute to his total assets.
This financial situation comes in the wake of a series of legal and personal challenges Giuliani has faced. His involvement in various legal matters, including election-related controversies and defamation lawsuits, has been widely publicized. The filing last month, showing debts between $100 million and $500 million, paints a picture of significant financial distress, contrasting sharply with Giuliani’s high-profile public persona.
Giuliani’s case serves as a stark reminder of the unpredictability of financial fortunes, particularly for public figures with complex legal and personal histories. The details of his bankruptcy filing, including the assets and liabilities declared, offer a glimpse into the challenges he faces as he navigates this difficult period in his life.