Rudolph W. Giuliani, faced with financial difficulties and mounting debts, outlined an austerity program in bankruptcy court in January to stick to a $43,000-a-month budget that includes expenses such as alimony payments, food, personal care items, and nursing home expenses for his former mother-in-law who passed away in March. However, shortly after implementing the budget, Giuliani exceeded his spending by nearly $120,000 in January alone. His incomplete and spotty reporting of his spending has caused anger and suspicion among his creditors, including two Georgia election workers to whom he owes $153 million for defamation following the 2020 election.
Giuliani’s bankruptcy filing listed $11 million in assets, including a New York City apartment and a condo in Palm Beach, Florida. His creditors believe he may be hiding assets or money, as his financial disclosures have been incomplete. They have issued subpoenas for more details, hired a forensic accounting firm, and made a broad request for information to determine the extent of Giuliani’s financial resources. Some creditors are skeptical of his claims, such as wanting to keep his Florida condo to avoid homelessness, and believe he may not be entirely truthful about the assets he discloses, such as shares in Uber and the value of his jewelry.
Despite his financial troubles, Giuliani continues to generate income through retirement accounts and Social Security. His creditors are interested in his $2 million claim in legal fees from former President Trump for election-related work. Giuliani’s bankruptcy proceedings have been marked by delays in filing required documents, incomplete financial reports, and concerns about hidden assets. His age and legal issues, such as suspended law licenses and various lawsuits, further complicate the possibility of creditors being paid back in full.
Giuliani’s financial woes have prompted friends and associates to set up legal defense funds to help cover his legal expenses. These funds, including a political action committee and the Rudy Giuliani Freedom Fund, have raised undisclosed amounts of money to support his legal defense. Despite efforts to secure funds for legal fees, Giuliani’s creditors are keen on obtaining details about the donors to these funds and how the money raised is being used. The ongoing bankruptcy proceedings, along with additional lawsuits and criminal charges against Giuliani, suggest a challenging road ahead for the former mayor as he navigates financial difficulties and legal issues in his later years.
