Alex Jones says it’s ‘impossible’ for him to pay Sandy Hook families $1.5B with less than $12m in assets
HARTFORD, CONNECTICUT: Alex Jones reportedly has only $12 million in assets and his lawyers say families of the 2012 Sandy Hook shooting victims would have to settle for less than the $1.5 billion they were awarded in court.
The popular conspiracy theorist, 48, and his legal team have claimed he will never be able to pay off the staggering amount. Jones recently filed for Chapter 11 personal bankruptcy after he was found liable in the defamation lawsuit brought on by the victims' parents. The conservative host was found liable by a jury for spreading lies about the mass shooting at Sandy Hook Elementary School that caused harm to the family members.
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Bankruptcy documents reviewed by Radar Online showed that Jones had between $1 million and $10 million in assets and over a billion dollars in liabilities. The right-wing firebrand has previously been accused of transferring up to $62 million from his primary business into separate companies that benefit him and his family, per The New York Times. Jones is estimated to pull in $70 million a year from various ventures. The newly-filed documents revealed that the broadcaster is in the process of hiring a reputable financial adviser to "assist him with getting all details of past and present transactions organized and reported.” His lawyers noted in the documents that Jones spent $13 million to defend himself in the defamation lawsuits and incurred multiple related costs.
The lawyers also admitted that their client's financial records were "somewhat disorganized" and were being reviewed. They said he had spent the past couple of years "focused on his talk show and his family, and thus his personal finances, somewhat disorganized, are being reviewed and analyzed to ensure clarity and integrity of information going forward." Jones's company Free Speech Systems (FSS) filed a separate bankruptcy case earlier this year. According to his legal team, he and his company "lost a great deal of money trusting people who did not have the ability or the character to handle the finances," with Jones reportedly having to contribute over $10 million from his own savings in 2022.
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In the documents, Jones revealed that he has less than $12 million in assets. He noted that he is paid $1.3 million per year from his contract with FSS, but hasn't received any compensation this year. “It is practically and functionally impossible for a human being who has less than $12 million in assets, who makes less than $2 million a year from the FSS business, to pay over $1.5 billion in debt," his lawyers said. "So, while Jones comes to this Court in good faith and wants to reach an amicable resolution between all the parties, it is imperative that all parties do the same. Any argument that Jones must give up his public life, or discontinue public discourse is contrary to supporting his ability to fund a plan and pay creditors, leaving Jones with limited options.” The controversial host reportedly plans to continue his broadcasts and 'The Alex Jones Show' in a bid to pay off the debts, per Radar Online.