Menendez brothers' net worth: What are Erik and Lyle worth today?
In 1989, Erik and Lyle Menendez shocked the nation with the tragic act that resulted in the loss of their parents. Then, the September 2024 Netflix series of Ryan Murphy's MONSTERS: The Lyle and Erik Menendez Story drew attention to them. After years of legal battles and incarceration, what is the Menendez brothers' net worth today?
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The Menendez brothers were convicted of first-degree murder and conspiracy to murder in 1996. Their father, Jose, was rich, and it brought up the allegations that his children's greed was behind the crime. The brothers state that sexual abuse from their father caused the incident. Since the release of the Netflix series, people like Kim Kardashian and others are asking for their resentence.
Menendez brothers' net worth
Lyle and Erik Menendez's net worth before the crime in 1989 was approximately $14.5 million. That is about $46.7 million in today's money, assuming inflation rates. All the money they had and spent before conviction was from their wealthy parents.
One of the alleged motives for the murders was that the brothers wanted access to the estate. The men were criticised as 'gold-digging spoilt brats'. In a YouTube interview with Barbara Walters of ABC News on 28 June 1996, who asked if they were spoilt brats, Erik replied:
Because I came from wealth does not make me spoilt.
How much did the Menendez brothers get?
The Menendez brothers, Erik Galen and Joseph Lyle, were denied access to their inheritance due to California's "Slayer Rule," which prohibits individuals who intentionally murder someone from inheriting their estate. Initially, they were set to receive $2 million each from their father Jose's fortune.
However, they gained a little from their father's wealth before they were arrested. They squandered $650,000 from Jose's life insurance policy on lavish spending sprees. This includes Lyle's $64,000 Porsche, three Rolex watches, and a $550,000 investment in Chuck's Spring Street Café.
As published in the Lawyer Monthly, Erik also spent $60,000 on tennis lessons and travel expenses. He also invested $40,000 in a Los Angeles rock concert at the Palladium.
Lyle also racked up $90,000 in Jose's American Express card by October 1989 and attempted to buy additional businesses. Their extravagant spending, totalling $700,000 in six months, raised suspicions and aided law enforcement in uncovering their motives.
Source: Original
What happened to the Menendez brothers' money?
As the Los Angeles Times published, Menendez's money/fortune and estate have been reduced from over $14 million to less than $800,000. The inheritance was depleted due to taxes, the brothers' spree spending, legal expenses, and poor financial decisions. By 1994, they had spent $1.495 million on defence fees.
They spent $124,000 on pre-death liabilities, $91,000 on mansion repairs, and $81,000 on utilities. Probate records show $10.8 million was spent over the years, leaving $651,948 in cash and some assets.
Exploring the sales of the Menendez brothers' house and properties
The brothers' luxurious homes, which belonged to their parents before their death, were sold at a loss. Their Beverly Hills mansion, purchased for $3.9 million in 1988, was sold for $3.6 million in 1991, incurring a $1.2 million loss as published on Bustle.
A Calabasas house, under renovation before Jose died, was appraised at $2.65 million but sold for $1.94 million in 1994. The Calabasas property had an $864,000 mortgage and $600,000 in owed taxes.
After selling their homes, the brothers lived in hotels and leased apartments in Marina del Rey for $2,150-$2,450 per month. They attempted to buy a $990,000 penthouse, but financing fell through before conviction.
Source: Getty Images
How much money was Menendez worth?
Jose and Kitty Menendez's estate was valued at $14.5 million. They had houses in Calabasas and Beverly Hills and a New Jersey condominium. Jose possessed $30,470 in jewellery, $28,044 in furniture, and $651,948 in cash. At the time of his death, he held 330,000 shares of LIVE Entertainment.
How did Jose Menendez make his money?
Jose built his fortune as an executive at top companies. He was the CEO of Live Entertainment and executive vice president of U.S. operations for Hertz, which later turned into RCA. After quitting RCA, he worked for Carolco Pictures, the owners of International Video Entertainment (IVE).
He brokered deals with stars like Sylvester Stallone and Duran Duran, expanding RCA's Latin music catalogue. Menendez's business acumen transformed International Video Entertainment's fortunes.
Who got the Menendez money?
Nobody currently owns the remaining inheritance and money. At the time of the deaths, the Menendez estate was estimated to be worth millions. Much of it was consumed by legal fees and lawsuits.
Did the Menendez brothers get married?
They married while serving life. Lyle married Anna Eriksson (1996-2001) and Rebecca (2003-present), while Erik wed Tammi in 1999 till present.
Source: Getty Images
Will the Menendez brothers ever get out?
As per CNN US, Lyle and Erik may be eligible for parole after Los Angeles County District Attorney George Gascón on 25 October 2024 recommended resentencing, potentially removing their life without parole sentences.
Their attorneys presented new evidence, including a letter detailing alleged abuse. Also, the Menendez family members held a conference to plead for their release.
If resentenced, they could be eligible for parole immediately due to their age at the time of the crime (Lyle, 21, and Erik, 18). The governor may also consider clemency, potentially commuting their sentence or granting a pardon. They now serve at the Richard J. Donovan Correctional Facility in San Diego.
The Menendez brothers' net worth went from millions to zero. Since the Netflix documentary was released, the brothers have been receiving support from many Hollywood A-listers for their release.
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