Michael Cohen Net Worth and Salary
In this article, we will explore the net worth and salary of Michael Cohen, an American lawyer who is best known for being Donald Trump’s former personal attorney. We will also delve into his highlights, early life, career, personal life, net worth over time, and the components of his net worth.
| Net Worth | Salary | Birthdate | Birthplace | Gender | Height | Profession | Nationality |
|---|---|---|---|---|---|---|---|
| -$1 million | $1 million per year | August 25, 1966 | Long Island, New York | Male | N/A | Lawyer | American |
Highlights
– Michael Cohen has a net worth of -$1 million.
– He served as Donald Trump’s former personal attorney and was an attorney for The Trump Organization for many years.
– Cohen was involved in Trump’s successful 2016 presidential campaign and was a member of the board of the Eric Trump Foundation.
– He paid $130,000 to adult actress Stormy Daniels and facilitated payments to former Playboy model Karen McDougal to allegedly keep them quiet about their affairs with Donald Trump.
– Cohen’s office and home were raided by the FBI in April 2018, and he was fired from the Trump Organization in May 2018.
– He pleaded guilty to charges including tax evasion, bank fraud, and campaign finance fraud in August 2018 and was sentenced to three years in Federal prison.
Early Life
Michael Cohen was born on August 25, 1966, in Long Island, New York. He grew up in a Jewish family, with his father working as a surgeon and his mother as a nurse. Cohen attended American University in Washington D.C., where he earned his undergraduate degree in 1988. He later attended Thomas M. Cooley Law School in Michigan and obtained his law degree in 1991.
Career
After completing law school, Cohen worked at various law firms before starting his own practice in 1997. He specialized in personal injury law and real estate law and represented several Russian-American businessmen. Cohen became involved in politics, serving as a delegate for the Democratic Party in 2004 and working on several political campaigns.
In 2006, Cohen joined the Trump Organization as the executive vice president and special counsel. In this role, he handled legal and business matters for the company and for Donald Trump personally. Cohen quickly gained a reputation as one of Trump’s most trusted advisors, known for his fierce defense and loyalty to the businessman.
Personal Life
Michael Cohen has been married twice and has two children. He is known for his lavish lifestyle, love of luxury cars, and expensive clothing. Despite his legal troubles and controversies, Cohen has remained a vocal and outspoken critic of Donald Trump and his administration. He has appeared as a commentator on cable news shows and has written a memoir titled “Disloyal: A Memoir” about his experiences working for Trump.
Net Worth Over Time
Michael Cohen’s net worth has fluctuated over time. At one point, his paper net worth exceeded $100 million due to his ownership stake in more than 200 New York City taxi medallions. However, with the rise of Uber and Lyft, the value of taxi medallions significantly decreased. Today, a taxi medallion would be fortunate to sell for $100,000.
In 2012, Cohen reportedly made around $1 million per year from the taxi medallions he owned. He also had other ventures, including investments in a Florida riverboat casino and a Ukrainian ethanol business. He owned a $58 million apartment building in New York City’s Upper East Side and a $9 million penthouse in Trump Park Avenue.
Components of Net Worth
Michael Cohen’s net worth consists of various assets and liabilities. The main components of his net worth are:
1. Taxi Medallions: At one point, Cohen owned over 200 New York City taxi medallions. These medallions were valued at more than $100 million, but their value significantly declined with the rise of ride-sharing platforms.
2. Real Estate Investments: Cohen owned a $58 million apartment building in New York City’s Upper East Side and a $9 million penthouse in Trump Park Avenue. His family members also own 12 apartment units in Trump buildings across the country.
3. Other Investments: Cohen had investments in a Florida riverboat casino and a Ukrainian ethanol business, although both ventures faced financial difficulties.
4. Liabilities: Cohen incurred significant legal bills related to federal investigations into his business dealings. His monthly legal bills exceeded $100,000, and he reportedly owed at least $1.4 million to the IRS.
Overall, Michael Cohen’s net worth is currently estimated at -$1 million due to his legal troubles and financial challenges.
In conclusion, Michael Cohen’s net worth and career have been marked by controversies and legal troubles. Despite his previous wealth, his net worth currently stands at -$1 million. Cohen’s involvement with the Trump Organization and his legal battles have significantly impacted his financial standing. However, he remains a prominent figure in politics and has continued to share his experiences through his memoir and public commentary.