Former Mayor of New York Rudy Giuliani talks to reporters as he leaves after his defamation trial in Washington on Friday, Dec. 15, 2023. A jury awarded $148 million in damages to two former Georgia election workers who sued Giuliani for defamation over lies he spread about them in 2020 that upended their lives with racist threats and harassment. (AP Photo/Jose Luis Magana, File)
Rudy Giuliani has a “net income” of $2,308 per month, according to a series of filings in a federal bankruptcy court on Friday afternoon.
The former New York City mayor identified substantial sources of income and hefty financial obligations in various schedules and additional context about his finances in a statement of financial affairs submitted with the U.S. Bankruptcy Court for the Southern District of New York and obtained by Law&Crime.
The concept of “net income,” however, is a feature of U.S. Bankruptcy rules that does not accurately reflect income as generally understood.
Giuliani filed for bankruptcy in December 2023 after a federal court ordered him to “immediately” pay former Georgia election workers Ruby Freeman and Shaye Moss $148 million after they won a defamation case against him. The onetime Donald Trump attorney found himself the subject of that pricey defamation lawsuit — and eventual verdict in the plaintiffs’ favor — after he falsely claimed the two women committed electoral fraud during the 2020 election.
The bankruptcy filing effectively paused collection efforts on that judgment against him. He is now seeking to use the proceedings to request a modification of his liability to Freeman and Moss — and potentially a do-over trial on the amount of damages he owes them.
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According to the filings, Giuliani has a “combined monthly income” of just over $46,000 from various sources, including Social Security payments and income from a rental property or business, and requires minimum distributions from three separate retirement accounts.
At the same time, Giuliani claims monthly expenses of $43,797 — including court-ordered payments to his mother-in-law ($13,500) and alimony ($5,000). His personal expenses run somewhat high for a New Yorker and include itemized entries on transportation ($1,600), food and household items ($1,050), laundry and dry cleaning ($500), and personal care products or services ($425). The total also includes $10,934 per month for homeowner’s association or condominium dues on his New York City apartment, $5,166 per month for such fees on his Florida residence, and a $3,000 per month mortgage in Florida. He does not list any money being spent whatsoever on entertainment.
All told, subtracting his monthly expenses from his monthly income nets Giuliani $2,308, the filings claim. And, he’s apparently not much of a saver: the filings claim Giuliani has $14,000 in his checking account and just $351 in his savings account — as well as $50 in cash.
But, far from pleading anything akin to poverty, his assets are assessed to be in the range of several million dollars. At least.
Giuliani has estimated that his Upper East Side apartment is worth $5.6 million; he claims his Palm Beach home is worth $3.5 million. There are various entries for personal property including a $25,000 Mercedes, a $2,500 “Television,” and nearly $60,000 worth of personal effects, jewelry (including three Yankees World Series rings), clothing, furniture, and other household goods.
Then there are the unknowns. Giuliani owns a certain number of Uber shares — which would seemingly be easy enough to estimate. But the space for the value of those shares reads: “Unknown.”
Another “Unknown” entry is the value of a signed picture of Reggie Jackson, a signed picture of Yankee Stadium, and the crowned jewel of his Bronx Bombers collection: a signed “Joe DiMaggio” shirt.
There are also three incorporated companies owned entirely by Giuliani. The value of those companies is listed as “Unknown.”
The filings also assert two possible forthcoming credits to his overall financial health under a section for “contingent and unliquidated claims.” There, Giuliani asserts he has a “Possible claim for legal fees against Donald J. Trump” and a “Joseph Biden defamation action.” Those values are listed as “Undetermined.”
Brandi Buchman contributed to this report.
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