David Pecker Net Worth

What is David Pecker's Net Worth and Salary?

David Pecker is an American publisher and businessman who has a net worth of $11 million. As the chairman and CEO of American Media Inc., David Pecker oversaw the publication of such magazines and papers as Men's Fitness, Flex, Star, Sun, and the National Enquirer. In 2018, Pecker became a controversial figure when it was revealed that he had been involved in catch-and-kill operations designed to aid Donald Trump during his 2016 presidential campaign.

Salary

David's base salary in most years was $1.75 million. In good years, that number ballooned to $3 or $4 million with various bonuses. In 2015, he earned $4.4 million thanks to an unusually large incentive bonus.

Early Life and Education

David Pecker was born on September 24, 1951 in the Bronx borough of New York City to Jewish parents. Following the death of his father in 1967, he began bookkeeping for local businesses to financially support his mother. Pecker attended New Rochelle High School, from which he graduated in 1969. He subsequently went to Westchester Community College. From there, Pecker transferred to Pace University, graduating in 1973.

Career Beginnings

After graduating from college, Pecker became an accountant at the professional services network Price Waterhouse. He went on to join the accounting department of the magazine division at CBS. Pecker remained there after CBS sold the magazine division to its manager, Peter Diamandis. Later, Diamandis sold the division to Hachette Filipacchi Médias, and Pecker became the CEO of the subsidiary CBS Publications, eventually renamed Hachette Filipacchi Media US.

American Media Inc.

Having raised capital from Thomas H. Lee Partners and Evercore Partners, Pecker left Hachette in 1999 and purchased American Media Inc., the publisher of such tabloid magazines and newspapers as Star, Globe, and the National Enquirer. He became AMI's chairman and CEO, and oversaw the publication of such other magazines and papers as Men's Fitness, Muscle & Fitness, Flex, Shape, and Sun.

By 2010, AMI was in serious financial trouble and filed for Chapter 11 bankruptcy protection. However, it continued its business after that. In 2016, Pecker revealed that the company was relying on financial support from Anthony Melchiorre and his firm Chatham Asset Management. Around this time, Pecker and AMI were involved in catch-and-kill operations to assist Donald Trump's presidential campaign, and were also accused of blackmailing Amazon CEO Jeff Bezos. Melchiorre was dismayed when this news came out a couple of years later, spurring his decision to force Pecker and AMI to sell the National Enquirer. Pecker was removed as CEO of AMI in August of 2020. The company was later renamed A360 Media following a merger with Accelerate 360.

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Catch-and-Kill Operations for Donald Trump

In 1998, Pecker's Hachette Filipacchi Media US began publishing the magazine Trump Style and distributing it at Trump's properties. Later, in 2015, Pecker made an offer to Trump that he would use the National Enquirer to catch and kill stories of sexual affairs that might harm Trump's 2016 presidential campaign. AMI agreed to facilitate payments to one of the accusers, Karen McDougal. Pecker allegedly alerted the Trump campaign that porn star Stormy Daniels was going to go public about her affair with Trump, resulting in a $130,000 hush-money payoff to Daniels. This and other catch-and-kill operations came to light in 2018, prompting investigations of Pecker and AMI. Their tactic of purchasing exclusive rights to stories that could have damaged Trump's campaign and then refusing to publish them was considered possibly illegal under Federal Election Commission rules. Pecker and AMI were consequently subpoenaed by federal investigators.

In August of 2018, Pecker was given witness immunity in exchange for his testimony of Trump's knowledge of the hush payments to Daniels. Early the next year, Trump's lawyer, Michael Cohen, testified under oath to the House Oversight Committee that he and Pecker had colluded together in catch-and-kill operations. Later, in 2024, Pecker testified in Trump's New York criminal trial revolving around the Daniels allegations. He testified that he and the National Enquirer paid sources for stories and mentioned specific catch-and-kill schemes, including one targeting Trump Tower doorman Dino Sajudin. Pecker also admitted that he and others at the National Enquirer made up defamatory stories about Trump's political opponents. Moreover, he admitted that he was aware of the illegality of working with a political campaign to make hush-money payments to influence an election. Trump was convicted at the end of the trial, but Pecker was not formally charged.

Personal Life & Real Estate

Pecker has been married to Karen Balan since 1987. He lives in a home in Boca Raton, Florida, that was purchased in 2015 for $2.82 million. Today, the home's estimated value is $3.75 million.

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