Living large in L.A. is expensive, but the costs pale beside those of funding a first-class courtroom defense. Has Simpson's fortune been reduced to pulp? His assets were on display last week as lawyers argued about the damages that should be awarded against him.
When he was divorced in 1992, the former Buffalo Bills star was worth about $11 million. His Rockingham estate alone was valued at about $5 million. He had an annual income of about $1.1 million-including roughly $550,000 as a Hertz spokesman and $400,000 as an NBC sports commentator. He had monthly alimony payments of $9,000 and child support of $15,000.
The June 1994 murders quickly ended his career as a pitchman and commentator. The legal bills were crushing. To raise money he liquidated holdings and cashed in on his notoriety. Also, he may have transferred assets to pension plans, which cannot be taken in a lawsuit. Some of his moves:
Earns $2.8 million from his book, "I Want to Tell You," his video, photos, interviews and autographs.
Sells Ferrari for $100,000, New York apartment for $1.1 million, Honey Baked Ham interest for $1.25 million.
Acquires $3 million line of credit from bank using Rockingham as collateral in April 1995.
Lends himself roughly $400,000 from businesses he owns.
Receives $1.75 million insurance settlement to help cover civil-trial costs.
The plaintiffs and Simpson have few disagreements over what he is worth now, but the disagreements they do have are major. The assets/liabilities sheet:
Current assets Bank checking account $6,137 Legal defense fund 471 Other bank account 240 Properties Pigskins Inc. $242,500 May Medical Building 42,000 Fixed assets Pension fund $4,121,479 Rockingham home 3,700,000 Personal furnishings, art 500,000 Suburban auto 64,069 Electric bicycle 4,350
Disputed assets
Mother's condo: Simpson values it at $1, because his mother is the beneficiary. Plaintiffs say it will be his after her death and is worth $250,000.
NFL pension present value: plaintiffs say it is currently worth $175,592. Simpson says it is worth $0 until he is 55.
Orenthal Productions: plain tiffs say his company owes him $265,727. Simpson says it's broke.
Value of name, likeness, trademarks: the plaintiffs say Simpson will earn more than $25 million in the next 25 years. Simpson says he will earn $0.
Total assets
Plaintiffs' claim $34,253,134 Simpson's claim 8,681,249 Liabilities Legal, other expenses, criminal and civil cases $2,897,635 Rockingham mortgage 2,300,000 Legal fees, custody case 188,968 Children's legal fees in 'custody case 19,525 1993 IRS taxes 7,811 Mortgage, mother's condominium 1,959 TOTAL LIABILITIES $5,415,898 Estimated income taxes Plaintiffs' $13,133,707 Simpson's 4,121,503 Assets in excess of liabilities, after taxes Plaintiffs' $15,703,529 Simpson's -856,157
Plaintiffs say they can't account for $1.25 million Simpson received from the sale of his Honey-Baked Ham interest and $1.75 million he got from his insurance settlement. They allege he is hiding the money. Simpson says he used it to pay off taxes and bills.
Uncommon Knowledge
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
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FAQs
To raise money he liquidated holdings and cashed in on his notoriety. Also, he may have transferred assets to pension plans, which cannot be taken in a lawsuit. Some of his moves: Earns $2.8 million from his book, "I Want to Tell You," his video, photos, interviews and autographs.
Who gets OJ money? ›
Simpson died Wednesday without having paid the lion's share of the civil judgment that was awarded in 1997 after jurors found him liable. With his assets set to go through the court probate process, the Goldman and Brown families could be in line to get paid a piece of whatever Simpson left behind.
How much is OJ's NFL pension? ›
In his later years, OJ was receiving $42,000 a year in Social Security, and had an NFL pension worth $5 million dolllars, from which he would receive $125,000 and $300,000 annually, and which the Goldman family were not allowed to claim from due to state law protecting him. According to Celebrity Net Worth, O.J.
What is O.J. Simpson's net worth right now? ›
O.J. Simpson is estimated to have died with a net worth of US$3 million ($5m).
What did Fred Goldman do for a living? ›
Fred Goldman was born on 6 December 1940 in Chicago, Illinois, USA. He is a producer, known for O.J.: Made in America (2016), His Name Is Ron and OJ25 (2020). He has been married to Patti Glass since 21 February 1987. He was previously married to Joan Goldman and Sharon Rufo.
Is OJ still getting paid? ›
He's been receiving a $10k per month pension for the last three decades - That money is exempt from being garnished and so he could potentially have saved some of it over time. He still has wealthy friends - Not everyone deserted Simpson after his murder trial or when he was in prison.
Why did the Goldman family get the rights to If I Did It? ›
However, after a civil trial in Los Angeles ruled him responsible for the deaths of ex-wife Nicole Brown Simpson and Ron Goldman — and awarded their famliies $33m — they were also awarded the rights to the book and released it, with the title altered.
How much money does OJ Simpson still owe? ›
Popular on Rolling Stone. “He [still] owes on the current status of the judgment,” Cook said, adding that the judgment with accrued interest is now upwards of $114 million. Cook also said that a legal team would need to determine the value of Simpson's estate and whether it's worth posthumously pursuing his debt.
Do NFL players get Social Security? ›
Most former players who are permanently disabled receive $11,500 a month under the league's benefits plan, according to The New York Times. Those who qualify for Social Security benefits can receive an additional $3,200 a month from the government.
How many years do you get NFL pension? ›
Eligibility for NFL Pension
To be eligible for an NFL pension, a player must: Play in the NFL for at least three seasons or be considered vested by being on a team's roster for at least three games (regular season or postseason). Each season played counts as a credit, which determines the pension amount received.
Simpson never paid the Goldmans the millions he owed them. Can they finally collect? Fred Goldman, center, and his wife, Patti, leave a courthouse in Santa Monica in 1997 after a jury found football star O.J. Simpson liable in a civil trial involving the slaying of Goldman's son, Ronald.
How much did OJ pay in child support? ›
Nicole eventually moved out with Justin and Sydney and filed for divorce in February 1992. They settled that October, with O.J. agreeing to pay her a lump sum of $433,750, plus $10,000 a month in child support, and she retained the title of a rental property.
How much did OJ pay for his lawyers? ›
His legal bills was well over 10 million dollars. He had an dream team lawyer team, the best in America of 7 lawyers who were able to practice law in California, it could easily be higher what he paid.. but none of lawyers accepted under million dollars..
Was OJ at Nicole's funeral? ›
Nicole had a closed casket funeral on June 16, 1994. However, the day before the funeral there was a private viewing in which her ex husband OJ Simpson attended. In the TV series, The People v O.J Simpson, the funeral is inaccurately portrayed with an open casket.
What did OJ Simpson do to the Kardashians? ›
Simpson and Kris Jenner were also close friends. But the killings caused a family divide when the Kar-Jenner matriarch believed O.J. Simpson was guilty of the murder as Robert Kardashian Sr. served as a defense attorney for the former athlete, which Kim detailed in a 2015 interview with Rolling Stone.
Who found the bodies of Nicole and Ron? ›
Around midnight, as they reached the area where the Akita had been found, the dog stopped outside Brown's home and the couple saw Brown's body lying outside the house. Police were called to the scene and found Goldman's body near Brown's. Police Representation of the crime scene. A marks where Nicole's body was found.
How much is the NBA pension worth? ›
(The minimum that a retired NBA player will receive at age-62 is $56,988 annually, and that's just for someone with three years of service). Making these improvements to the pension program required an additional $33 million annually in funding – a cost that the NBA and the current players agreed to split equally.
How does NBA pension work? ›
NBA players have had a pension plan since 1965. Players are fully vested after 3 years, but the retirement benefit amount is based on the number of credited seasons. After 10 seasons, players earn the maximum benefit payable by law.
