What is Steve Bannon's net worth? Trump pardons ex-associate who 'stole' money from border wall-building charity

Multiple reports have confirmed that President Donald Trump has decided to pardon his former Chief Strategist Steve Bannon before he leaves White House


                            What is Steve Bannon's net worth? Trump pardons ex-associate who 'stole' money from border wall-building charity
Former White House senior counselor Steve Bannon was pardoned (Getty Images)

In a last-minute decision made hours before his final departure from the White House, President Donald Trump has pardoned his former Chief Strategist Steve Bannon. Steve Bannon faced a federal case when he was charged with defrauding donors of more than a million dollars as part of a fundraising campaign to build the US-Mexico border wall.

Steve Bannon's early life

Before joining Trump’s team, Bannon was an officer in the United States Navy for seven years in the late 1970s and early 1980s. After his military services, Bannon started working as an investment banker at Goldman Sachs in the Mergers and Acquisitions Department. He even helped Goldman Sachs expand their business from New York to Los Angeles to explore more opportunities in the entertainment industry.

Steve Bannon, former White House Chief Strategist to President Donald Trump (Getty Images)

Bannon even ventured into the entertainment industry as an executive producer to several Hollywood movies, including some documentary films like ‘In the Face of Evil,’ ‘Fire from the Heartland: The Awakening of the Conservative Woman’ and ‘Occupy Unmasked.’

Steve Bannon's net worth

As per Forbes, Bannon’s current net worth is approximately $48 million, which he acquired from his different business ventures and movies. There were several reports that he received around one percent of the ‘Seinfeld’ TV show. The Washington Post’s report from 2017 suggested that Bannon has probably collected as much as $2 million from the show.

Federal fraud

On August 20, 2020, Bannon, 67, and three others were charged with conspiracy to commit money laundering and wire fraud. Federal prosecutors of the US Attorney’s Office of New York allege that Bannon and two other defendants used funds received from the 'We Build the Wall' fundraising campaign, in a way that seemed inconsistent with how they were marketed for use to the public.

It was also alleged at that time that Bannon and the other three men conspired to use the former’s non-profit group and a shell company to make payments to themselves, despite making several promises to the donors who gave them the money to build the wall.

Former White House Chief Strategist Steve Bannon exits the Manhattan Federal Court (Getty Images)

Trump and his son, Donald Trump Jr, distanced themselves from Bannon following his arrest. Trump even said that Bannon “has nothing to do with me or my presidency.” After distancing himself from Bannon, Trump made sure that his former Chief Strategist would stay away from his inner circle. But things changed after Bannon offered to advise the president before the election.

Reactions to Steve Bannon getting pardon

After multiple sources confirmed that Trump is most likely going to pardon Bannon, several media and political experts took to Twitter to show their disdain. Glenn Kirschner from MSNBC tweeted, “So it’s being reported that Trump will pardon his criminal associate, Steve Bannon, who is pending a felony trial in the Southern District of New York for stealing money from Trump’s supporters via a sham “We Build the Wall” charity. Corrupt to the end.” CNN’s legal analyst tweeted, “Steve Bannon ripped off *Trump's own supporters* who sent money to this "Build the Wall" scam. Now Trump apparently will pardon Bannon. Grift upon grift."



 



 

If you have a news scoop or an interesting story for us, please reach out at (323) 421-7514