Do these 3 things before closing this tab:
1Scan for outdated or missing drivers - takes under a minute2Repair Windows errors before they cause bigger problems3Fix the driver behind crashes, sound loss and screen glitchesJohn Malkovich said his business manager invested nearly everything he and his family had earned with Bernie Madoff. When the fraud came to light in December 2008, Malkovich said, he lost his life savings. But there is no verified evidence that his personal loss was $50 million—or that his net worth was that amount.
How did John Malkovich lose his money?
Malkovich told The Guardian that in December 2008 he learned his then business manager had invested “pretty much everything” the family had made with Madoff. Recalling the moment he saw Madoff pictured in handcuffs, Malkovich said he told his wife, “I’m going to go to the corner to get a packet of cigarettes. I think we have a little problem with Madoff.” He described the first few days as a period of shock. The Guardian’s 2020 interview is the source for his account.
Madoff’s scheme did not generate the investment returns it claimed. The FBI describes its basic mechanism as using principal from some investors to pay other investors. The FBI’s case history says Madoff was sentenced to 150 years in prison; The Guardian also reported his 2009 sentence as 150 years.
How much did Malkovich lose?
No exact personal-loss figure is established by his public account. Asked in the 2020 interview how many millions he had lost, Malkovich replied, “Oh, I don’t know. A lot.” He also described the loss by saying, “Everything I’d ever made was gone.” Those statements convey the scale of what he said happened to his earnings invested with Madoff, but they do not provide a dollar total or establish that his entire wealth disappeared.
Recommended Free Tools
#1 Best Overall
The $50 million figure in the headline is not verified as Malkovich’s net worth or loss. A different number—$50 billion—appears in the SEC’s December 2008 announcement: it was Madoff’s estimate of losses across the scheme, not Malkovich’s personal loss. The SEC also reported that Madoff had more than $17 billion in assets under management at the beginning of 2008; that figure is not a verified measure of assets available to repay investors. The SEC announcement described an enforcement complaint and Madoff’s reported estimate, not a personal accounting for Malkovich.
What was the dispute over Malkovich’s claim?
Contemporary reports in 2010 described a claim connected with an account associated with Malkovich’s pension plan and trust. The figures differ slightly by outlet, so they should not be collapsed into a single purported loss total.
Rank #2
- Ideal for Gifting
- Ideal for a bookworm
- Compact for travelling
| Report | Claim described | Trustee determination |
|---|---|---|
| Los Angeles Times, 2010 | $2.3 million sought, based on the final November 2008 account statement | $670,000 approved based on deposited funds |
| Associated Press report published by CBS News, 2010 | $2.2 million claim | $670,000 determination |
The disagreement was about how to calculate a claim: from money deposited and withdrawn, or from a final account statement that reflected fictitious gains. Neither reported claim amount nor the trustee’s determination establishes Malkovich’s total personal loss, net worth, or final recovery.
Did Malkovich declare bankruptcy?
No. Malkovich later said he lost every penny he had earned with Madoff, but also said he did not declare bankruptcy. His statement concerns money invested with Madoff; it should not be read as proof that all his personal assets vanished. The Guardian interview reported his account.
How did he adjust afterward?
Malkovich said he worked more for several years and changed how his household lived and spent. He temporarily stopped paying for friends and family and stopped producing films that lost money. He also said the loss did not matter as much as those changes might suggest. Those are the adjustments he described; they do not supply a dollar figure for what he lost or later recovered.
Quick Recap
Best Value
- It can be a gift option
- Comes with secure packaging
- Helpful in various ways
Rank #4
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
