West Virginia Senator's Money Troubles: A Closer Look

Senator Jim Justice, a Republican from West Virginia, has found himself in a significant financial predicament. He has agreed to pay back nearly $5.2 million in overdue personal taxes. This is not his first encounter with monetary issues. The senator, once worth billions, has seen his fortune dwindle considerably over the years.

Tax Settlement and Legal Issues

Justice's legal team and the federal government recently reached a deal to settle his unpaid taxes, which date back to 2009. This agreement comes just as the government filed a lawsuit, alleging that Justice and his wife, Cathy, had not paid their taxes in full. The Justice Department's tax division approved this settlement.

Shrinking Fortune

Justice's wealth has plummeted. Forbes once estimated his net worth at $1.9 billion, but that was last decade. By 2021, his fortune had shrunk to $513 million. This year, Forbes estimated his net worth to be "less than zero", meaning his debts outweigh his assets.

Unpaid Taxes and Liens

Justice's financial woes extend beyond unpaid taxes. The IRS recently filed liens totaling over $8 million against him and his wife for unpaid personal taxes. In September, state tax officials filed liens for $1.4 million against the Justice family's historic hotel, The Greenbrier, and its sporting club for unpaid sales taxes.

The Greenbrier Hotel

Justice's family has had to settle debts to avoid the foreclosure of The Greenbrier Hotel. The hotel, which has hosted U.S. presidents and other dignitaries, was at risk of being auctioned off. This was after a loan taken out by Justice was sold to a credit collection company, which declared it to be in default.

Justice's family also settled debts last year to avoid the Greenbrier Hotel's foreclosure. The hotel, which has hosted U.S. presidents, royalty, and congressional retreats, had come under threat of being auctioned off. This was after JPMorgan Chase sold a longstanding loan taken out by Justice to a credit collection company, Beltway Capital, which declared it to be in default.

Political and Public Reactions

The state Democratic Party has blamed Justice's financial troubles on his own incompetence. Last year, a union official at the Greenbrier said that Justice's family was behind on payments to an employees' health insurance fund, putting workers' coverage at risk. In 2023, dozens of properties owned by the Justice family in three counties were auctioned off to pay delinquent real estate taxes.

The Greenbrier Resort

Justice bought The Greenbrier resort out of bankruptcy in 2009 for $20.1 million. The resort, which dates back to 1778, includes a casino, spa, and dozens of amenities. It employs around 2,000 workers and has hosted various events, including a PGA Tour golf tournament and NFL training camps.