What is Todd Chrisley's Net Worth and Salary?
Todd Chrisley, an American businessman, reality television personality, and convicted criminal has an estimated net worth of -$18 million. Chrisley found fame through the USA Network reality series, "Chrisley Knows Best," which followed his family's day-to-day activities. The show even spun off "Growing Up Chrisley," featuring his children Chase and Savannah.
Arrest and Conviction: Overview
Recent years have not been kind to Todd and Julie Chrisley, as both were convicted of tax and fraud crimes. In 2019, the Chrisleys, along with an accountant, were indicted on various charges including wire fraud and tax evasion. They were accused of defrauding banks out of $36 million using false financial documents. Subsequently, Todd filed for bankruptcy to escape about $20 million in debt.
According to the DOJ: "The Chrisleys spent money on luxury cars, designer clothes, real estate, and travel using new fraudulent loans to pay back old ones. Upon exhausting the money, Todd Chrisley declared bankruptcy and walked away from over $20 million of fraudulent loans."
Their trial began in May 2022 and lasted six weeks. Todd and Julie were convicted in June 2022, and on November 21, 2022, Todd was sentenced to 12 years in prison, while Julie was sentenced to seven years. Both will serve an additional three years on probation post-release.
At sentencing, prosecutors remarked: "The Chrisleys built an empire based on lies about their wealth, claiming it came from dedication and hard work. The jury's verdict sets the record straight: Todd and Julie Chrisley are career swindlers who have manipulated banks, vendors, and evaded taxes."
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Chrisley Asset Management
Todd Chrisley once owned and operated Chrisley Asset Management, a firm that had been floundering for years while the Chrisleys led a lavish lifestyle. This lifestyle involved a 30,000-square-foot mansion and spending $300,000 annually on clothes. Chrisley Asset Management played a key role in their legal issues.
August 2019 Arrest
On August 14, 2019, Todd and Julie Chrisley were arrested in Atlanta on multiple charges, including tax evasion, wire fraud, and conspiracy. From 2007 to 2012, they allegedly used Chrisley Asset Management to seek $36 million in bank loans by providing false information, which significantly inflated their net worth.
According to the indictment: "The Chrisleys submitted fabricated bank statements and false personal financial statements to secure millions in loans, which they used for personal benefit."
One notable instance in November 2007 involved a fabricated Merrill Lynch bank statement, falsely showing a balance of $776,509.52. Todd allegedly responded to the fake document with "you are a f****** genius!!! Just make it show 4 mil+." In reality, they didn't have a Merrill Lynch account then and never had more than $17,000 even when they did.
The indictment also revealed that the Chrisleys dodged federal tax bills while spending lavishly.
During their trial, IRS agents noted the couple's extravagant spending on electronics during their reality TV show, even while they claimed poverty to the IRS. The Chrisleys blamed a former "trusted employee" for the illegal actions, claiming he carried them out without their knowledge. They had to post $100,000 in unsecured appearance bonds and were restricted to traveling to Atlanta and California only if taping their TV show.
In February 2022, a new indictment accused the couple of using a film production company to hide $2 million owed to the IRS. This $2 million related to earnings from their TV show was allegedly hidden in a company controlled by the Chrisleys called 7C's Productions. The updated indictment included charges of conspiracy and various counts of bank and tax fraud, which the Chrisleys denied.
Their Federal criminal trial began in May 2022. They were convicted in June 2022, and in November 2022, Todd and Julie were sentenced to 12 and 7 years in prison, respectively.
Bankruptcy Case
Todd Chrisley was involved in a $45 million bankruptcy case linked to his real estate empire. A trustee claimed that Todd hid millions in his wife's name, which his lawyer denied. Todd first filed for bankruptcy in 2012, reporting $4.2 million in assets against $50 million in debt. He claimed to have only $100 in cash and $55 in his checking account. Chrisley Asset Management filed for corporate bankruptcy in 2013, listing a $12 million mortgage on their mansion and nearly $600,000 in IRS debts. In April 2024, Todd was ordered to pay $755,000 in damages for a social media attack.
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Early Life
Todd Chrisley was born on April 6, 1969, in Georgia and raised in Westminster, South Carolina.
Chrisley Knows Best
"Chrisley Knows Best" debuted in 2014 and captivated audiences with Todd’s ostentatious, materialistic lifestyle. The Chrisleys’ extravagant expenditures and the strict, controlling parenting style provided ample entertainment. The show chronicled Todd's life in an expansive Atlanta mansion with high-end designer wardrobes and luxury cars. Todd famously remarked that his neighbors were celebrities like Usher and Chipper Jones.
He kept a tight grip on his children's activities, monitoring their internet and text usage. Todd's interventions extended to disabling his son Chase's vehicle and throwing his laptop into a pool to teach lessons, actions he insists accurately represent their real life. The series has aired over 200 episodes and was partially filmed for its 10th season before the legal troubles. The show inspired the spin-off "Growing Up Chrisley," focusing on Chase and Savannah Chrisley's life in Los Angeles.
On television, Chrisley often displayed his love for designer clothes, though in a bankruptcy filing, he claimed they were worth only $650. In 2016, he released a country single titled "Infinite Love" with Sara Evans, which peaked at #19 on the Billboard Country Digital Singles chart. A talk show "According to Chrisley" premiered in 2017 but was canceled after one season.
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Personal Life
Todd Chrisley was married to Teresa Terry until 1996 and had two children, Lindsie and Kyle. In the same year, he married former beauty pageant queen Julie Hughes, known as Julie Chrisley. They have three children: Savannah, Chase, and Grayson. Julie is the daughter of a Baptist minister and Todd's business partner.
Todd is a germophobe who tries to avoid dirt and animals.
Real Estate
In 2015, the Chrisleys moved to Nashville, purchasing a $1.6 million home to benefit from the state's lack of income taxes. In June 2019, they bought another home outside Nashville for $3.4 million. Amid legal issues, they listed the home for $4.7 million a mere two months later. These properties, worth around $9 million combined, may soon be sold to pay restitution.
