Teresa Giudice is an American reality TV personality best known for her appearance on Real Housewives of New Jersey. Her reality TV fame has helped her become a New York Times bestselling author. However, trouble visited her paradise in 2013 when she and her husband Joe Giudice were charged and later convicted of bankruptcy fraud. Teresa served 11 months of her 15-year prison sentence and was released on December 23rd, 2015. Her husband, on the other hand, began serving his 41-month sentence from March 23rd, 2016.
Post-prison Teresa has been involved in a number of money-making activities from giving interviews to promoting her tell-all book “Turning the Tables” and even returning to filming season 7 of Real Housewives of New Jersey. Thanks to these endeavors, Teresa has been able to pay off a majority of her creditors including money owed in back taxes to the IRS and NJ Department of Revenue. She paid off her $414,000 restitution bill in February 2017.
However, her net worth is still estimated in the negative region as she is still in debt. Hopefully, more of these activities would help the mother of four rebuild her “pre-bankruptcy” net worth of $11 million. Turning a new leaf would go a long way as well. Read on to discover more about her life and finances.
Teresa Giudice Net Worth: How She Began
Giudice was born Teresa Gorga on May 18, 1971, in Paterson, New Jersey to Italian immigrant parents. She was raised in a strict Catholic family and as a result, her dad who didn’t like the idea of jumping high in mini skirts denied her request to join her high school cheerleading squad. After graduating from high school, Teresa proceeded to attend Berkeley College where she studied fashion marketing.
After college, she worked as an associate buyer for Macy’s and later became a contributor to Vogue Magazine. In 1998, at the age of 27, she married Italian construction worker and restaurant owner Joe Giudice and changed her name to Teresa Giudice.
Teresa Giudice Net Worth: Fame With Real Housewives of New Jersey
Teresa rose to fame in 2009 as one of the main cast in the first season of Real Housewives of New Jersey. Alongside NeNe Leakes of the Atlanta version, Teresa is considered one of the breakout stars produced by the Real Housewives franchise. On the show, Teresa and her husband Joe Giudice attracted much attention from fans which played a part in raising its viewership to over 2.5 million, a feat that saw the show being renewed for a second season. Her younger brother Joey Gorga and his wife Melissa Gorga are also main casts on the show. By 2014, she was reportedly receiving $700,000 per season of the show.
Teresa capitalized on her TV fame to launch several business ventures including a fashion and accessories line “TG Fabulicious” which sold printed tees, baseball caps, and bracelets, a haircare line “Milania” named after her daughter as well as a line of bellini cocktails, “Fabellini”. She also ventured into writing, turning the kitchen skills she had learned from her Italian mom into cookbooks like “Skinny Italian” (2010), “Fabulicious” (2011) and “Fabulicious!: Fast & Fit” (2012), all of which have been New York Times bestsellers.
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In addition to RHONJ, Teresa has also appeared in other reality shows like “Who Wants to be a Millionaire”, “The Today Show”, and “Live With Regis and Kelly“. She appeared in the Donald Trump-hosted The Celebrity Apprentice 5 in 2012 where she proved to be a shrewd businesswoman, raising $70, 000, all of which she donated to her charity of choice- “The NephCure Foundation”.
Teresa Giudice Net Worth: Money Problems And Conviction
After roughly five months of fame, Teresa and Joe were hit by money problems, causing the couple to file for bankruptcy in October 2009, however, they later withdrew their petition. Unfortunately, four years later, in 2013, the couple were suspected of foul play in their initial filling. They were charged with conspiracy to commit mail, wire, bank and bankruptcy fraud. The government discovered that the couple had overstated their income in order to receive about $4.6 million in mortgages and lines of credit. The Giudice patriarch was also found guilty of failure to file tax returns for four years between 2004 and 2008, periods at which he earned an estimated $1 million.
After almost two years of dragging in court, the couple reached a deal with federal persecutors and plead guilty to 41 counts of fraud. The court revealed that as a result of their fraudulent acts, they had made $5 million over a 10 year period. Teresa was sentenced to 15 months behind bars and Joe to 41 months. The couple was allowed to serve their time in turns so each could be available for parenting duties. The couple was also slapped with $414,000 in restitution. Teresa served 11 months in Danbury, Connecticut, Federal prison.
Teresa Giudice Net Worth: Post-Prison
Prior to incarceration, Teresa received a reported $250,000 to give a “goodbye” interview with Andy Cohen of Bravo. Also, after she was released, it was speculated that she received another $350,000 for a “welcome-back” interview with Cohen. However, Cohen took to Twitter to debunk the later, stating that she was only promoting her prison-time tell-all book/memoir “Turning the Tables: From Housewife to Inmate and Back Again”. The book became an instant bestseller and she received 6-figures from Simon & Schuster.
Teresa also bolsters her income with paid TV appearances and sponsored Instagram posts. Per numerous sources, her paycheck per season has risen to $1 million from the 7th season of RHONJ.
According to the deal she made with the feds, she is required to keep only 75% of her income while 25% is to be channelled towards paying her creditors.
She is also meant to split the potential proceeds of her legal malpractice lawsuit against her former bankruptcy lawyer James Kridel (whom she blames for her fraud charges and jail time) between her creditors by 55% (herself) to 45% (creditors).
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