What is Michael Cohen’s net worth?
Michael Cohen, the former lawyer and one-time “fixer” for Donald Trump, has made millions of dollars selling his story about his work forthe former president.
But this is ultimately only a fraction of the fortune he has made – and lost – over the years through a series of ventures ranging from taxi medallions to podcasts to books.
Cohen was the star witness in Mr Trump’s hush money trial earlier this month, testifying that his relationship with Mr Trump financially benefitted him, hurt him and led him to pay adult film star Stormy Daniels $130,000 – the payment at the center of the alleged conspiracy in the case.
For around 20 years, Cohen worked as Mr Trump’s lawyer earning money through his legal work – and sometimes not-so-legal work.
But his association with Mr Trump has also cost Cohen dearly.
A slew of legal problems, time in prison and his disbarment from practising law have all contributed to his wealth dwindling.
Today, his net worth is estimated to now stand at less than $1m.
Here’s what we know about Cohen’s finances:
Before becoming Mr Trump’s attorney in 2006, Cohen spent most of his legal career as a personal injury lawyer.
But it was ultimately his other job, owning taxi medallions (once worth millions) and operating taxi companies, that heavily contributed to Cohen’s financial success.
Before the rise of ride-sharing apps like Uber and Lyft in the mid-late 2010s, owning taxi medallions was a lucrative business. In 2013, at their peak, the metal plates sold for $1m. Cohen and his wife, Laura Shusterman, owned at least 20 by then.
But the taxi medallion business took a nosedive when ride-sharing apps became popular. By 2017, Cohen owned at least 34 medallions, but at that point, they were worth less than