For five seasons, fans have watched Todd Chrisley and his family do rich people things in Atlanta, GA, so naturally, viewers want to know what the 48-year-old does for a living that scored him his own TV show, Chrisley Knows Best, on USA Network.
Though Todd amassed his wealth through real estate, owning several ventures, he has since lost everything — and his net worth is actually listed as -$5 million (yes, that’s a negative sign).
So how did the former mogul become broke? According to multiple reports, one terrible deal forced Todd to file for bankruptcy in 2012. “He guaranteed a real estate development loan and it failed,” his attorney, Robert Furr, told People magazine a few years ago. “He was on the hook for $30 million. If he hadn’t had that happen, he would have been fine, financially.”
He also filed corporate bankruptcy the following year for his company, Chrisley Asset Management. For someone who claimed to spend $300,000 a year on clothes alone in Season 1 promos for his series, it was a major blow.
In 2014, Todd claimed the bankruptcy case was “truly in its final phases” and that he had “moved on from it,” but in legal documents obtained by the Daily Mail in January, it stated that the patriarch still owes around $70,000, and the trustee presiding over the case demanded he be found in contempt of court.
Eventually, the family also gave up their $2.4 million, 30,000-square-feet mansion, which was often featured on camera. They now reside in Nashville, TN.
But in an interesting twist, Todd’s wife, Julie, actually has a small fortune of her own and has lent him at least $4 million. “She is well-off,” his attorney revealed in 2014. “She has her own money. This is money that she lent him over the years for his business. It’s as simple as that.”