There are different ways of acquiring wealth, both genuinely and illegitimately. Those who seek to use the genuine methods work hard to gain wealth, while the others use dubious methods of wealth acquisitions. The Menendez brothers' used the latter but didn't benefit due to imprisonment. So, what happened to the Menendez brothers' money?
The Menendez brothers' (Erik and Lyle) were sons of Jose and Kitty Menendez. They were brought up in the lavish Beverley Hills by their affluent parents. The two murdered their parents to inherit their fortune. What was Jose Menendez's net worth? Jose and Kitty Menendez's net worth was estimated to be around $14.5 million at that time.
What did the Mendez brothers do?
On 18th June 1889, two days before the actual killing, they bought two shotguns from a store far away from the family mansion. On 20th August 1989, the Menendez brothers Lyle and Erik entered their family house in Beverly Hills and shot death their father Jose and mother Kitty watching television on the couch.
Two brothers welcome kids 2 hours apart in one hospital after their wives went into labour same time
They quietly left the house and drove to the movies, where they bought tickets to cover the incident. They also changed into new and clean clothes and went back home. On arrival, Lyle called the police claiming someone had murdered their parents.
Initially, they were not the suspects of the murder until they started spending vast sums of money from their parent's fortune. They spent thousands of dollars shopping, travelling, and partying. In turn, this made the detectives narrow down on them as probable suspects of the murder.
The duo committed the crime after years of sexual abuse suffering at the hands of their father. After the murder and arrest, the Menendez trial news made headlines in all TV stations, radios, newspapers and magazines.
The Menendez brothers' documentary and paper headlines dwelled on the concept of greedy rich kids who killed their parents for money. After being found guilty of the crime, they were sentenced to life imprisonment without the possibility of parole.
How did the Menendez brothers' spend the money?
They spent the money in several ways. During the first half-year after the murder, the brothers enjoyed a lavish life while squandering the money. This happened before the detectives started suspecting them.
Four days after the gruesome murder, Erik and Lyle brought three Rolex watches at the cost of $15, 000 which they wore to their parent's funeral ceremony. Lyle also randomly spent $3,000 on buying clothes and sporting activities.
He bought a Porsche Carrera valued at $64,000 and went back to college to invest more money. He also purchased a Chuck's Spring Street priced at $550,000. On the other hand, Erik was a bit practical on his expenditure.
He bought a Jeep Wrangler and hired a private tennis coach at $60,000. He also put $40,000 into a rock concert even though, in the end, it did not take place. Together, the Menendez brothers moved out of their parent's mansion in Beverly Hills.
They started staying in luxurious hotels in the United States. Eventually, they got tired of staying in the expensive hotels and leased adjoining condos in Marina Del Rey. How much money did the Menendez brothers spend? In total, the brothers are estimated to have spent over $700,000 of their parent's fortune.
What happened to the Menendez brothers' money?
Do the Menendez brothers' still have the money? No, they don't. According to the California Salyer Statute, the Menendez brothers cannot receive the money due to their felonious act.
A named beneficiary of a bond, life insurance policy or other contractual arrangements who feloniously and intentionally kills the principal obligee or the person upon whose life the policy is issued is not entitled to any benefit under the bond, policy, or other contractual arrangements, and it becomes payable as though the killer had predeceased the decedent.
So, who has the Menendez brothers' fortune? The money is not with any particular person due to the numerous entanglement affairs during the Menendez brothers' trial and incarceration.
Menendez brothers' inheritance of around $14.5 million and insurance payouts were not eligible for use after their conviction. What happened to the Menendez fortune? The fortune catered for the following:
- $4 million was used in estate taxes.
- $1.49 million was used to settle their legal woes.
- $4.2 million was used in mortgage payments
- $10.8 million was used on other expenses.
Erik and Lyle Menendez's net worth went to zero since the remaining sum disappeared after a brief period, leaving them broke.
What happened to the Menendez house? The Beverly Hills mansion was sold in 1991 at $3.6 million. This was close to a $2.1 million loss. The money collected from the sale was used to cater to the mortgage, closing the house and internal revenue services. In addition, the Menendez Calabasas house was sold at $1.94 million.
Menendez brothers now
The brothers are still serving their life sentences in prison in California. What do the Menendez brothers look like now? The brothers look a bit older after already serving 31 years of their imprisonment. They went to jail in their early 20s, but at the moment, Erik is 50 years while Lyle is 53 years.
They were serving their terms at different facilities for decades until three years ago when the California Department of Correction agreed to house them together. In the recent news, the Menendez brothers are back in the news thanks to teens on TikTok who have come to share different clips on the brothers' trial, testimony and conviction.
Now you know all about what happened to the Menendez brothers' money. Eventually, the brothers lost it all; they lost their parents to murder and lost the money after being sentenced to life imprisonment.
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