What is Jerry Falwell Jr.'s net worth?
Jerry Falwell Jr. is an American lawyer, real estate developer and former and university administrator who has a net worth of $100 million. Jerry Falwell Jr. is the son of ultra-conservative Christian pastor Jerry Falwell. Jerry Jr. became the president of Liberty University when his father passed away in 2007.
On August 7, 2020 Jerry Jr. announced he was taking an indefinite leave from his role as president and chancellor of the university after a photo of him with his pants down was posted on instagram. He stepped down for good on August 24, 2020 in the wake of a sexual scandal. It would later be revealed that over a several year period Jerry allegedly enjoyed being cuckolded by his wife and a Miami hotel pool boy they met while on vacation. They ultimately ended up bringing the young man on many family vacations, introduced him to Donald Trump and even invested in a Miami hostel together. According to later accounts, Jerry and his wife Becki began "grooming" the young man when he was just 20 years old and proceeded to carry on a seven-year affair that included instances where Becki and the young man had sex in hotel rooms while he was vacationing with the family and in the children's bedrooms back at their Virginia farm. A different young man would later allege that he was a friend of Becki and Jerry's child Jerry III and one night on a sleepover Becki burst into his bed and performed oral sex on the man against his wishes.
Jerry Falwell Jr. was born in Lynchburg, Virginia in June 1962. Jerry Falwell Jr. graduated from Liberty University and earned his JD from the University of Virginia. He is a Republican who is married and has three children. He was in private practice from 1987 until 2007. Falwell Jr. joined the Board of Trustees at Liberty University in 2000.
In the lead up to the 2016 Presidential election he endorsed Donald Trump and compared him to Winston Churchill. Jerry Falwell Jr. said that Trump offered him the position of the United States Secretary of Education but he turned it down. He was supposed to be part of a task force on reforms for the United States Department of Education but it was never formed.
Salary
Before resigning Jerry Falwell Jr. had been earning $1.25 million per year in salary from Liberty University. According to a clause in his employment contract, Falwell was likely paid around $10 million as a buyout after stepping down. His contract calls for him to earn his salary for two years PLUS $8 million if he ever leaves.
Under the Falwell family's leadership, Liberty University grew from a tiny relatively-unknown Baptist school to a powerhouse with more than 95,000 undergraduate students.
Some have described the University as essentially not much more than a real estate hedge fund. In 2007, the year Jerry took over, the school listed $260 million in assets. Today the university controls more than $3 billion in assets.
Critics have complained that university-funded construction projects and real estate acquisitions have been done solely to enrich the Falwell family and their friends. According to a 2019 politico article, "the line between where the Falwell family's wealth begins and Liberty's finances end is blurry." The article listed several alleged examples where the university made financial loans or investments to Falwell family members or friends, investments which were arguably not in the school's financial interests. For example, Liberty reportedly gave a friend of Jerry's named Robert Moon a loan of $750,000 to launch a construction company called Construction Management Associates Inc., then proceeded to award that company $130 million in contracts. Falwell claimed to have not personally benefited from the company's dealings with the university.
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Resignation
On August 7, 2020 Jerry announced he was taking an indefinite leave of absence from Liberty University. His statement gave no reason for the change but the announcement came just days after Jerry posted a photo of himself to instagram with a his arm around a much younger woman. Both his and her pants were zipped down. Ironically, the photo was a direct violation of his school's code of conduct.
On August 24, 2020 Jerry resigned from Liberty University in the wake of a Reuters report that detailed a years-long sexual relationship his wife had with a pool boy from a Miami hotel. Falwell reportedly "enjoyed watching from the corner of the room" multiple times a year. The pool boy, Giancarlo Granda, was also a business partner of the Falwell. At one point Jerry offered him a share in a Miami youth hostel that they funded for their son Jerry Falwell III, aka "Trey". The Falwell's share of the investment was reportedly $4.7 million.
Ranch
Jerry Falwell Jr. and his family reside on a 500-acre ranch/farm in the town of Goode, Virginia, which is located about 20 miles from Liberty University's campus in Lynchburg. The sprawling property features a pool, tennis court, horse stables and a large private lake. There is also a 19th century chapel on the property which, according to legend, was attended by Robert E. Lee and Ulysses S. Grant during their lifetimes.
