College admissions scandal net worths: How much money do those involved actually have?
Those six figure fines don’t even make a dent
The college admissions scandal is the biggest of its kind in US history. Up to 50 people were charged for their part of the scheme, which saw ring-leader Rick Singer pocket $25million from parents wanting to get their children into the most elite colleges in the country. These parents, many of whom are celebrities and CEOs of huge companies, were paying up to a million dollars for Rick to doctor their children’s resumes and falsify their exam results. So, you might be wondering what kind of wild net worths would give those involved in the college admissions scandal the sort of funds to do this.
From Hollywood stars to Silicon Valley businessmen, the parents of the college admissions scandal have serious buck. Despite being handed huge six figure fines for their involvement, the scandal doesn’t look to have really effected many of them financially.
Here are all of the known net worths of those involved in the college admissions scandal.
Rick Singer – $3.5million
Rick Singer is the brains behind the college admissions scandal, offering “side door” entry into university for bribes which were covered as “donations” to his foundation. He is said to have unfairly facilitated the college admission for children in more than 750 families, over a career which spanned more than 20 years.
William “Rick” Singer’s net worth is estimated to be around $3.5 million. He now faces a $1.25 million fine and a potential sentence of 65 years in prison. He also used to own a multimillion dollar mansion in California, but he sold that and, as part of his plea agreement, proceeds from the sale were forfeited to the federal government.
Lori Loughlin and Mossimo Giannulli – $88million
Among the most famous, and the highest of all the net worths, of those involved in the college admissions scandal is Full House actress, Lori Loughlin and her husband, fashion designer Mossimo Giannulli. They paid Rick Singer $500,000 to get their two daughters into USC. Lori was sentenced to two months in prison, two years of supervised release, a $150,000 fine and 100 hours of community service. Mossimo was sentenced to five months in prison, two years of supervised release, a $250,000 fine and 250 hours of community service.
According to a 2019 Forbes report, the couple has a combined estimated net worth of $88 million. $80 million of this comes from Giannulli’s fashion company and the rest from Loughlin’s acting career.
Jane Buckingham – $40million
Jane Buckingham is an author and businesswoman who founded Trendera, a boutique marketing firm, in 2009. She also authored The Modern Girls Guide to Life, The Modern Girls Guide to Motherhood and The Modern Girls Guide to Sticky Situations. The book series was later turned into a TV series.
She was accused of paying $50,000 to cheat on her son’s college entrance exam and was sentenced to three weeks in prison. She was also given one year supervised release and a $40,000 fine. Despite this, her son Jack still got a place at university.
According to Celebrity Net Worth, Jane Buckingham is worth around $40million.
Felicity Huffman – $45million
Also among the college admission scandal celebrities is the Desperate Housewives and American Crime actress, Felicity Huffman. Huffman pleaded guilty in April 2019 and then did so formally in court in May 2019, after she was accused of getting her daughter extra time in exams and paying $15,000 to have her daughter’s test scores changed.
Her net worth is estimated to be around $45million, from her hugely successful TV and Hollywood career.
Douglas Hodge – $80million
Douglas Hodge received the harshest of sentences out of all the parents involved in the scandal. The former CEO of Pimco, a top investment firm, was sentenced to nine months in prison, two years supervised release, 500 hours of community service and a $750,000 fine.
Douglas Hodge paid bribes of $850,000 over nearly 11 years to get two of his children into Georgetown University and two others into the University of Southern California. He was sentenced so harshly because he had been much more deeply involved, and for a longer amount of time, than any of the other parents.
But the fines were just a drop in the ocean for the Harvard business school grad. He’s worth $80million and it was once reported he received a single annual bonus of $45 million whilst at Pimco.
Michelle Janavs – $50million
Michelle Janavs is the heiress to the Hot Pockets fortune, with her family thought to have a net worth of around $4billion. Janavs’s family sold the Hot Pockets brand to Nestlé in 2002 for $2.6 billion, and her father’s net worth alone is believed to be around $2billion.
Michelle Janavs herself is a former executive at a food manufacturer. She pleaded guilty in October 2019, after being accused of paying Rick Singer $200,000 to have one of her daughters labelled as a beach volleyball recruit at the University of Southern California. She also paid $100,000 to have her other daughter’s entrance exam altered. Her net worth right now is estimated at $50million.
Manuel and Elizabeth Henriquez – $78million
Manuel Henriquez is reportedly worth around $78million. He is the former founder, chairman, and CEO of Hercules Capital, an investment firm. The Silicon Valley tycoon pleaded guilty in October 2019 after being charged with paying $450,000 for his daughters’ to be supplied with answers to college entrance exams and to bribe a coach at Georgetown University. He was sentenced in July 2020 to six months in prison and ordered to pay a $200,000 fine and perform 200 hours of community service.
His wife was sentenced to seven months in prison as well. It was said in the trial that Manuel was a “less active participant in the mechanics of the fraud” than his wife, Elizabeth.
Operation Varsity Blues: The College Admissions Scandal is available on Netflix now. For all the latest Netflix news, quizzes, drops and memes like The Holy Church of Netflix on Facebook.