How much is Barbara Picower Net Worth? The life of Bernie Madoff, who went to prison in 2008 for conducting a fraudulent Ponzi scheme that duped investors out of billions of dollars is the subject of a new four-part Netflix series titled Madoff: The Monster of Wall Street.
In this scheme, Madoff failed to invest his clients’ funds as promised. Instead, he paid out old investors using funds from new investors. Others benefited from Madoff’s scheme as well. Friends and investors of Madoff, Jeffry and Barbara Picower, are widely believed to have reaped the greatest rewards from the Ponzi scam.
It has been alleged that the Picowers took $5.1 billion more from their Madoff accounts than they first invested. After Jeffry’s death in 2009, Barbara decided to repay the $7.2 billion they had stolen.
Barbara Picower Net Worth
That Barbara paid back billions to Madoff’s victims doesn’t mean she’s broke. It’s safe to say that Barbara’s wealth is still in the millions, if not the billions. According to a 2009 story from Reuters, Barbara received $200 million from Jeffry’s estate.
Even after she paid the $7.2 billion settlement, she may have had some money left over from the billions she and her husband made with Madoff. According to a 2014 Forbes article Barbara’s JPB Foundation which she established in 2011, received $1.2 billion from the Jeffry Picower estate.
One of the Largest Foundations in the United States is led by Barbara Picower
Barbara leads the JPB Foundation as its president and chair of the board. The nonprofit group’s goals are to improve the lives of low-income people, enhance and protect the natural world, and fund ground-breaking medical research.
The JPB Foundation had over $3 billion in 2020, per InfluenceWatch. It’s a big deal since it’s a major foundation that gives out money all around the country.
After co-founding The Picower Foundation in 1989 with her husband, Barbara served as its executive director. Madoff administered the Picowers’ foundation funds because he was a close friend of the family. As a result of the Madoff scam, the Picower Foundation had to shut down in 2009.
The Picowers were at first thought to be one of Madoff’s numerous gullible victims. The New York Times reported in 2009 that a lawsuit filed on behalf of Madoff victims claimed that Jeffry “knew or should have known” about the fraud. Above we have provided you details with of Barbara Picower net worth and now you will read details about her husband’s death.
How Did Barbara Picower Husband Die?
Jeffry’s body was discovered in the pool of his Palm Beach, Florida estate in 2009. According to Forbes, Barbara’s husband drowned when she was reading by the pool. After a heart attack Jeffry unfortunately, drowned, as the medical examiner concluded. Heart and Parkinson’s disease issues were also mentioned in relation to him.
According to Forbes Jeffry was one of the wealthiest men in America at the time of his death with a net worth of up to $7 billion.
Above we have talked about Barbara Picower Net Worth and more details about Jeffry’s wife. Keep following venturejolt.com for more updates. Don’t forget to bookmark our site for the latest updates.