Tim Blixseth net worth

Timothy Lee Blixseth was born on April 27, 1950 in Roseburg, Oregon, USA and is a record producer, songwriter, and real estate developer, but probably best known as a co-founder of the Yellowstone Club. He was once one of the richest people in the country until it was revealed that he was implicated in fraud and other financial irregularities. So all of his efforts resulted in him having his fortune today.

How rich is Tim Blixseth? In mid-2017, sources estimate a net worth of minus $ 250 million, largely due to high income taxes and fraud investigation penalties; Unsurprisingly, his fortune, including assets, has always been the subject of controversy. It is unlikely that his net worth will increase in the near future due to his current criminal activity and the financial troubles that result from it.

[divider]

Tim Blixseth net worth of $ 250 million

[divider]

Tim attended Roseburg High School and enrolled in 1968. He then began to work in a sawmill and later saw business opportunities in the wood industry through land swaps and federal wood contracts. This led him to found the Blixseth Group, which initially focused on the wood industry. However, he struggled to build his business and went bankrupt for the first time in 1981. Five years later, he decided to rebuild the lumber business and set up Crown Pacific, LTD worth a high point. After some setbacks with some of his other companies, he decided to sell his stake in Crown Pacific in 1992, and eventually three years later he would sell a large chunk of the land to the US Forest Service for $ 16.4 million.

Thanks to the money, Blixseth then decided to get into the real estate industry and develop 15,000 acres of real estate in Montana. Over the next 10 years, property development would skyrocket, reportedly grossing around $ 200 million, further boosting Blixseth’s net worth. The development had high profile supporters such as Bill Gates, Dan Quayle and Mary Hart. Cyclist Greg LeMond would also invest in real estate, but will soon sue Blixseth after he reported that he had taken out and pocketed a good portion of a Credit Suisse loan.

While developing his other businesses, Tim also tried to develop software and create a program that could identify hidden messages from terrorists. The technology was later found to be a hoax and deals were canceled. The software was reportedly responsible for false terrorist warnings on several international flights in 2005. Because of these issues, Tim and his family were investigated by the government.

Blixseth’s wealth has been the subject of controversy and various legal disputes. He claims these were all just conspiracies against him, but they all started to pile up. He has been charged with fraud by numerous creditors after they alleged they owed $ 286 million. He has also had numerous bankruptcies due to failed business efforts and is reported to owe taxes in several states. The biggest blow came when the Yellowstone Club filed for bankruptcy, which created problems handling the money from its real estate developments. He continues to fight these lawsuits and has been imprisoned for disregarding the court for failing to disclose information about his property; Legal proceedings are ongoing, but he is currently out of prison.

As for his personal life, no details about his first marriage are available, but it is known that Tim’s second marriage to Desiree Langlois was and they had two children, but the marriage divorced in 1981. He then married Edra Denise Crocker in 1983 and they stayed married until 2008. Edra also had two children from a previous marriage. After his divorce, he married Jessica Ferguson Kircher. Tim’s divorce with Edra was initially settled without a lawyer, but he was later sued when it was found that the property she was given was fraught with debt.

This forced them and the Yellowstone Club into bankruptcy.

Tim Blixseth Net Worth first appeared on Net Worth Post.

Leave a Comment