Get ready to dive deep into the financial world of one of Donald Trump’s closest allies – Michael Cohen. As a former lawyer and fixer for the former president, Cohen has been under intense scrutiny in recent years. But despite his legal troubles, many are still left wondering just how much this once-powerful figure is worth. In this blog post, we’ll be taking an up-close-and-personal look at Michael Cohen’s net worth and uncovering some surprising facts about his finances along the way. So let’s buckle up and get ready for a wild ride through the fascinating world of high-stakes finance!
Introduction to Michael Cohen and His Role in Trump’s Administration
As Trump’s former lawyer and personal fixer, Michael Cohen played a key role in the president’s administration. But what is his net worth?
Born in 1966, Michael Cohen grew up in the New York borough of Queens. His father was a taxi driver and his mother worked as a schoolteacher. After graduating from law school, Cohen began working as a personal injury lawyer. In 2007, he joined the Trump Organization, where he quickly rose to become one of Donald Trump’s closest confidants.
As Trump’s lawyer, Cohen was involved in some of the president’s most controversial deals, including the payment of hush money to porn star Stormy Daniels to keep her quiet about an alleged affair with Trump. He also helped negotiate the deal for Trump Tower Moscow, which ultimately fell through.
In 2018, Cohen plead guilty to eight felony charges, including tax evasion and campaign finance violations. He was sentenced to three years in prison and ordered to pay $1.8 million in restitution. He is currently serving his sentence at a federal prison in Otisville, New York.
So what is Michael Cohen’s net worth? According to Forbes, it is $6 million.
How Did Michael Cohen Make His Money?
Michael Cohen, Donald Trump’s former personal lawyer, has been in the headlines recently for his involvement in various legal controversies. But what is not as well known is how Cohen made his money in the first place.
Cohen was born in 1966 and raised in the suburbs of New York City. He is a graduate of American University and Thomas M. Cooley Law School. After working as a lawyer for a few years, Cohen began investing in New York City real estate. He eventually became involved with the Trump Organization, and served as Trump’s personal lawyer from 2007 to 2018.
In recent years, Cohen has earned income from a variety of sources, including investments, speaking engagements, and consulting work. He also reportedly received millions of dollars from companies that wanted access to Trump or positive publicity from him. For example, AT&T and Novartis each paid Cohen $1 million for consulting services, and Kolbert Report more than $2 million for access to Trump during the 2016 presidential campaign.
As for his net worth, estimates vary widely. In 2016, Forbes estimated it to be $40 million. However, after factoring in legal fees and other expenses related to the various investigations he is currently facing, Cohen’s net worth is likely much lower today.
What Is Michael Cohen’s Net Worth?
As of 2018, Michael Cohen’s net worth was an estimated $75 million. This includes his property holdings, investments, and cash.
Cohen started out working as a personal injury lawyer before moving into real estate. He then began working as a fixer for Donald Trump. In this role, Cohen would negotiate deals on Trump’s behalf and help to keep negative news stories about Trump out of the press.
In 2017, Cohen was named as one of the highest-paid lawyers in America, earning an estimated $4 million. He also has a number of business interests, including a stake in a taxi company and several restaurants.
It is thought that Cohen’s net worth will increase significantly in the years to come as he continues to work for Trump and grow his business interests.
|Net Worth:||$63 Million|
|Monthly Income:||$1.2 Million|
|Date of Birth:||August 25, 1966|
|Height:||6 ft 1 in (1.85 m)|
Assets and Investments Owned by Michael Cohen
Michael Cohen is a former lawyer and self-described fixer for President Donald Trump. Cohen has been in the headlines recently for his role in paying hush money to Stormy Daniels, an adult film star who alleges she had an affair with Trump.
Cohen has also been implicated in other potential crimes, including campaign finance violations and bank fraud. As a result, Cohen is currently under investigation by federal prosecutors.
Despite all of this legal trouble, Cohen still has a significant amount of assets and investments. Here is a look at some of the notable ones:
-A luxury apartment in Manhattan that is reportedly worth $6 million. This property was used as collateral for a loan that Cohen took out in 2015.
-Several taxi medallions. These are licenses that allow drivers to operate taxis in New York City. In 2014, Cohen reportedly paid $1.2 million for four medallions. The value of these medallions has since dropped significantly, but they are still worth several hundred thousand dollars each.
-An investment in a company called Reelgood Inc., which is a streaming service for movies and TV shows. Cohen reportedly invested $500,000 in the company back in 2016.
-A minority stake in the New York Yankees baseball team. This stake is reported to be worth around $4 million.
An Overview of Michael Cohen’s Expenses and Debts
Michael Cohen, Trump’s former lawyer, is currently under investigation for various financial crimes. Here is an overview of his expenses and debts:
Cohen has incurred significant legal expenses over the past few years, including $1.4 million in attorney’s fees related to the Russia investigation and $130,000 paid to Stormy Daniels in exchange for her silence about an alleged affair with Trump. In addition, Cohen has racked up significant personal debts, including more than $22 million in mortgages and home equity loans and more than $5 million in credit card debt.
As a result of his mounting legal and financial troubles, Cohen’s net worth is currently estimated to be negative $39 million.
Final Thoughts on the Financial Situation of Michael Cohen
As Trump’s former lawyer and personal fixer, Michael Cohen knows a thing or two about money. And while he’s been in the headlines for all the wrong reasons lately, there’s no doubt that he knows his way around a balance sheet.
So what is Cohen’s net worth? According to public records, Cohen is worth an estimated $14 million. That includes $6 million in real estate, $4 million in cash and investments, and $4 million in personal property.
Cohen has come under fire for his involvement in various financial dealings with Trump and his businesses. But despite the scrutiny, it appears that Cohen is still doing quite well for himself financially.