Todd Chrisley Net Worth – How Did Chrisleys Make Their Money?
You will probably know Todd Chrisley especially if you have seen ‘Chrisley Knows Best’, an American reality Television series. Todd is the extravagant star of this TV series.
We all know about Todd’s materialistic ways and lifestyle. But people often wonder how Todd Chrisley made his money. Well find out in this article. Read on to learn about Todd Chrisley’s financial troubles, TV show and wealth.
Todd Chrisley made his fortune in Georgia majoring in real estate. He later added to his wealth via his TV show. Chrisley also made millions in through his successful venture with a company he previously owned.
The company, Chrisley Asset Management flipped houses. It succeeded.
Making His Millions
Todd and his wife, Julie Chrisley regularly flaunt their wealth on ‘Chrisley Knows Best’, the family’s reality Television show. But how did Todd acquire his wealth in the first place?
Todd Chrisley was previously a real estate mogul; he achieved a lot of success in the business and made a lot of fortune from it. He even established his own company in 2000.
The company, Chrisley Asset Management was dedicated to accelerating the recovery liquidation of loss of residential and commercial assets. In practical terms, this implies that the company buys houses that were foreclosed.
Then they later sell the houses at a nice price to make profit. On the operational level, the company provides loss mitigation and loan servicing as well as REO disposition services.
Todd and his family previously lived in Atlanta, Georgia although they have relocated to Nashville. Todd used to conduct his business in Atlanta.
‘Chrisley Knows Best’
Although Chrisley was already wealthy as an entrepreneur in real estate, he further expanded his wealth when he conceived his reality Television series which he titled ‘Chrisley Knows Best’.
The TV series centers on Chrisley family’s religious and materialistic lifestyle. At a time, production companies approached Chrisley to use his family for television.
Chrisley replied in an interview when he said he always knew that there was some fanatical, but people felt it was a show. According to reports, the show was in hot demand from various TV networks.
USA Network later picked up the show and titled it ‘the Chrisleys’, they added further descriptions which reads as thus: a very close family who are genuinely funny and refreshingly honest.
As of 2020, Chrisley’s show has run for eight seasons and has become a household name. The show is always on the list of every family.
We are not sure the amount of money Todd gets from the show. But we know that the show is a success and it is bound to generate income for Todd.
Well, all that glitters is not gold. Todd has had his fair bite of financial troubles. Although everyone thinks that Todd and his family are swimming in riches judging by the way they flaunt their wealth on screen, it is far from the case.
Celebrity Net Worth stated that Todd has a net worth of a negative $5 million. You might want to dispute this because it does not fit with Todd’s supposed materialistic lifestyle.
Behind this net worth figure lies several financial challenges which has caused lots of speculations.
People reported that Todd’s financial difficulties started after an unsuccessful business investment which left Todd with a $49.4 million crippling debt.
In 2012, Todd Chrisley even filed for bankruptcy while he declared assets of 4.2 million dollars. He also claimed to have only 55 dollars in his checking account. According to Chrisley’s lawyer, he was forthright and totally honest.
However, the case drew some suspicions. One of them was that Todd and his wife were hiding assets.
Todd later continued with show as there seemed to be a turnaround. He even had plans to expand his brand. Unfortunately, in 2019, Todd ran into another problem again.
Though Julie and Todd have been cleared of charges, the couple was later arrested in August 2019 and charged with bank fraud and tax evasion. The couple insisted that they were innocent.
They also claimed that one of their former employee who was disgruntled had framed them for the crimes.
While speaking in Instagram, Todd maintained their innocence and ststed that he and his wife has lots of evidence and witnesses to prove their innocence.
The claims was later resolved with a cash settlement. The charges were later dropped.
We do not know the current state of Todd’s fortune, but he continues to indulge in a lavish lifestyle, thanks to his successful realtor career.