Russell Armstrong Net Worth

What was Russell Armstrong's net worth?

Russell Armstrong was an American investment banker and venture capitalist who had a net worth of -$1 million at the time of his death. During his life, Russell Armstrong was involved in business ventures involving over 200 companies. He served as the Founding Managing Director of Crescent Financial Partners.

Tragically, on August 15, 2011, Russell Armstrong was found dead of an apparent suicide at a Los Angeles mansion on Mulholland Drive. Just one month earlier, his wife Taylor Armstrong, filed for divorce. It was also reported that Armstrong was distraught over the impending divorce and was having crushing financial troubles. Apparently Russell was drowning in a mountain of debt, to the point where his credit cards were being declined at restaurants.

Early life and Career

Russell Lynn Armstrong was born on December 21, 1963, in Dallas, Texas, as the elder of two children to John Ann and Louie Lynn Armstrong. He attended Richardson High School and later graduated from the University of Hawaii, beginning his career as an attorney. His early legal career included representing serial killer Aileen Wuornos during an armed-robbery case in 1981.

Financial Career and Legal Troubles

Armstrong's professional life was marked by both accomplishments and controversies. As a venture capitalist, he founded Crescent Financial Partners, a Los Angeles-based private merchant banking firm. However, his career was shadowed by legal troubles, including being charged with felony tax evasion in 1995, a case that closed in 1997 with Armstrong receiving five years' probation and 150 hours of community service.

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Taylor Armstrong and Reality Fame

Armstrong met his second wife, Taylor Ford (later known as Taylor Armstrong), at a restaurant in Beverly Hills while they were waiting to be seated. Their whirlwind romance led to marriage in Mexico on October 27, 2005, shortly after they began dating. The couple welcomed their only child together, daughter Kennedy Armstrong, on February 25, 2006.

Armstrong gained public recognition when he appeared alongside Taylor on Bravo's "The Real Housewives of Beverly Hills," which debuted in 2010. The show frequently showcased their on-air fights, and their relationship appeared strained on camera. Behind the scenes, Taylor later confirmed she had been physically abused by Russell and had to undergo reconstructive surgery for an orbital fracture after being hit by him.

Financial Problems

Financial struggles compounded the couple's problems. Armstrong filed for Chapter 7 bankruptcy on October 16, 2005, after being unable to pay nearly $50,000 to American Express. By the time of his death, he had amassed over $1.5 million in debt. His attorney later stated that Russell was "living month to month to support his lifestyle for Taylor" and suggested that pressure to maintain an extravagant lifestyle for the show contributed to his financial strain.

The marriage deteriorated amid allegations of abuse. In July 2011, after filming the second season of the show, Taylor filed for divorce, citing verbal and physical abuse. The domestic violence became public when cast member Camille Grammer exposed on camera that Taylor was being abused by Russell.

Death

Tragically, on August 15, 2011, Russell was found dead from an apparent suicide by hanging at a home he rented on Mulholland Drive following their separation. He was 47 years old. Taylor stayed on the show for one more season following Russell's death before stepping back from the spotlight.

Russell Armstrong is survived by his daughter Kennedy and two sons from previous relationships.

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