How much is Todd Chrisley worth? $5 million
How did Todd Chrisley earn his money and wealth?
On 6 April 1969 Todd Chrisley was born as Michael Todd Chrisley to Faye Chrisley(mother) and Gene Raymond Chrisley(father) in Georgia, USA. His family had a simple small-town life in Westminster, South Carolina. Todd Chrisley does not share much about his childhood to media. His educational background is unknown which supports his statement of building everything from the ground and becoming a self-made millionaire businessman. He hails from a humble background to an extravagant lifestyle Todd and Julie are together with their five children for past two decades now and settled down in Atlanta where his business is based.
Todd Chrisley owns several ventures primarily in real-estate. He operated Executive Asset Management, LLC, from 2004 to 2008 and now-defunct Chrisley Asset Management (CAM). It is a real estate owned Management Company operating in multiple states, including Florida, California, Texas, Nevada and New York with its headquarters in Atlanta. The company dealt with the management of repossessed properties. The company used to operate on non-performing commercial and residential assets like distressed or foreclosed properties, by renovating them and selling them for a profit. In this process, The Federal National Mortgage Association, commonly known as Fannie Mae, was one of the prime institutions through which they flipped houses for a profit.
The company and the business thrived as long as the housing market was at a boom, but when the market took a dip in the year 2008, it made operations tough for the company. Further down the line Chrisley and a partner were involved in a dispute that went to court which cost them a non-renewal of its contract with Fannie Mae in 2012 which threw the company off its track on top of an enormous debt due to a default on a $30 million loan that was guaranteed.
The USA network brought Todd Chrisley from the brink of bankruptcy as well as fulfilled his longtime dream to be on TV, by picking up Todd’s show “Chrisley Knows Best”.The show featured Todd and Julie, his children Savannah Chrisley, LindsieChrisley, Kyle Chrisley, Chase Chrisley, Grayson Chrisley, his grandchildren and his mother Faye. Todd subsequently became famous by his unconventional wisdom and strict parenting. The show aptly showcased the lavish living of the Chrisleys. Despite of the cameras lurking into their lives and recording everything, Todd managed to keep a fine cover on the reality of his financial status and did not let anything leak through. Todd’s actual financial situation came out from shadows when he filed for Chapter 7 bankruptcy following the corporate bankruptcy filed by Chrisley Asset Management in the year 2013.
Even the bankruptcy, a non-operation company and a debt of $49 million could not hold the Chrisley camp from unrestrained spending.
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