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How Much Does Madoff Still Have?

POSTED: 03:24 PM ET, 01/ 5/2009 by Derek Kravitz


Bernard Madoff (By Ruby Washington / AP)

The Securities and Exchange Commission was given a list of disgraced businessman Bernard L. Madoff's personal assets last week, as government regulators try to size up the remaining wealth of the alleged Ponzi scheme operator.

Madoff handed over an accounting of all of his investments, loans, lines of credit, business interests, brokerage accounts and other holdings, including possible offshore accounts. According to federal court documents, his assets total an estimated $200 million to $300 million, but federal regulators are refusing to make the list public.

While that debate rages, the Post Investigations blog decided to round up what is known about Madoff's holdings from public records and published accounts:

  • A Palm Beach, Fla., mansion located at 410 N. Lake Way. Madoff's wife, Ruth, is the listed owner on the 8,700-square-foot property, which was purchased in 1994 for $3.8 million. The two-story, five-bedroom and seven-bath home features a boat dock, a spa and an in-ground pool. Price tag: $9.4 million (Source: Palm Beach County Property Appraiser)
  • A pricey New York penthouse on the Upper East Side, located at 133 E. 64th St., No. 12A. Madoff is currently under house arrest in the apartment after posting $10 million cash bail and is under 24-hour supervision. Madoff's neighbors in the building have included "Today" show host Matt Lauer and adverstising executive, developer and Kennedy campaign adviser Frederic S. Papert. Madoff bought the apartment in 1990 for $3.325 million. Price tag: $7 million. (Source: New York County Real Estate records)

  • A 55-1/2-foot wooden fishing boat, purchased in 1977 for $462,000 (restoration, upkeep and docking costs not included). It was built in 1969 and nicknamed "Bull." The Coast Guard-registered vessel, which weighs roughly 37 tons and goes by the call sign WY7449, is docked in Palm Beach, Fla. It was built by Rybovich & Sons, a high-end boat building company owned by South Florida businessman H. Wayne Huizenga Jr. (Source: U.S. Coast Guard)
  • Country club memberships in Palm Beach, Fla., and Amagansett, N.Y. The reported initiation fee at the Palm Beach Country Club is $300,000 (not to mention annual dues) and the Glen Oaks Country Club on Long Island charged at least $40,000 a decade ago. (Source: Associated Press, New York Times)
  • An East Hamptons, N.Y., getaway, located at 216 Old Montauk Highway on Long Island. Madoff has owned the beachfront home in Suffolk County since 1981 and was known for throwing an extravagant annual party for his employees on the weekend following the Fourth of July. Madoff paid about $17,000 per year in taxes on the property. Price tag: $3 million. (Source: East Hampton Star)
  • Madoff's 17th floor New York office, in the prestigious Lipstick Building, an oval red-granite tower in midtown Manhattan. Price tag: $3 million to $5 million. (Source: Associated Press)
  • From vintage watches from George Somlo, Tiffany & Co. wedding bands and Savile Row suits, Madoff apparently spared no expense when it came to personal accoutrements. He also owns a gray outfitted Brazilian-built Embraer Regional Jet 145, which costs roughly $29 million, along with stock in BLM Air Charter. (Source: New York Magazine, Fortune)
  • Among Madoff's overseas holdings: A small villa overlooking Cap d'Antibes on the French Riviera; a Mayfair office in London; and a yacht on the Mediterranean. His office at 12 Berkeley Street in London is "modest," according to the Evening Standard, but still pricey. And Madoff had stored millions in capital in the British subsidiary. (Source: Evening Standard, New York Times)

By Derek Kravitz |  January 5, 2009; 3:24 PM ET
Previous: Si Se Puede! The Richardson Probe | Next: Madoff Gets Break As Lawmakers Hammer SEC

Comments

Please email us to report offensive comments.



What about the stuff he put in his relatives name over the past 5 years?

Posted by: FutureJumps | January 5, 2009 5:37 PM

I really hope he does not have a penny,so all those greedy people that felt so special doesn`t see nothing back in their bank accounts.Fools!!!Go back to work!!!

Posted by: ipeluso | January 5, 2009 5:47 PM

What is taking so long for the arrest of his sons Andrew and Mark? They were chin deep in this.

Posted by: scoob1900 | January 5, 2009 5:52 PM

Po$$ibly a bank account or two in maybe I$rael or Ru$$ia.

Posted by: whocares666 | January 5, 2009 6:39 PM

How can I find the series written by Washington Post reporters about the alleged
Ponzi scheme?

Posted by: penttilund | January 5, 2009 8:52 PM

I cut and pasted a comment below that I emphatically have been asking also. What about all the relatives like his sons who have benefited from the business? Many people within his organization had to be aware of the illegalities his sophisticated operation. My only hope is that Limousine Liberals like Senator Chuck Schumer work behind the scenes to defuse any attempt to go after any of his relatives that were part of the scheme.


What about the stuff he put in his relatives name over the past 5 years?

Posted by: FutureJumps | January 5, 2009 5:37 PM

Posted by: AD11 | January 5, 2009 9:06 PM

I hope that this case drags on and on and Mr. Madoff racks up such a huge bill for lawyer fees that he has to sell all of his hidden assets although he probably has his mattress stuffed too.

Posted by: edeckel | January 5, 2009 9:21 PM

I read the below article a few minutes ago. Like I said, most if not all of his money acquired from the Ponzi scheme is now in the hands of his relatives, friends, and kibbutz members.


Prosecutor wants disgraced financier Bernard Madoff jailed without bail

NEW YORK (AP) -- A prosecutor on Monday asked that Bernard Madoff be jailed pending trial, saying the disgraced financier violated an agreement with the court by mailing watches, jewelry, cufflinks and mittens worth more than $1 million to relatives and friends.

Posted by: AD11 | January 5, 2009 9:36 PM

What about his $600,000 in campaign contributions to the democratic party ?

Shouldn't the democrats return that dirty money ?

Hey WP, when are you going to do an article on his connections to capital hill ?

Posted by: dashriprock | January 5, 2009 10:15 PM

Easy with the partisan attacks. Seems our pal Madoff gave generous donations to Republicans like: Al Damato, Vito Fossella, and Billy Tauzin. The FEC.GOV website lists every dollar of his contributions. You can hear talk about this on www.TalkRadioOne.com

Posted by: TalkRadioOne | January 8, 2009 1:59 AM

Having nice watches didn't stop him from running out of time.

Posted by: aguy7 | January 8, 2009 1:50 PM

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