Harvey Weinstein’s Net Worth, From $300M To $25M, Faces Further Decline With Retrial Looming

Harvey Weinstein's net worth is set to decline further as a New York court recently ruled that his rape conviction will be retried.

According to reports, he was previously worth $300 million, which has since dwindled to around $25 million. Despite the overturning of his New York case, Weinstein was still remanded in jail due to a different conviction in the state of California.

According to the Daily Mail, Weinstein's estate is set to suffer more decline following a ruling from a New York court that his rape and criminal sexual assault convictions in the state will be retried.

The convicted sex offender was reportedly worth around $300 million before he was sentenced to over two decades of jail time in 2018.

Experts now say that amount has since dropped to around $25 million due to a combination of personal, business, and legal reasons.

"Following Harvey Weinstein's rape, sexual misconduct and assault charges, he no longer owns the empire he once did," Southern California financial expert Jack Cohen told the publication.

He added, "Between the legal fees, divorce settlements, and child support, in addition to currently being imprisoned and not being able to conduct any business or produce income, I estimate his current net worth to be around $25million, which is a huge drop from his past worth of between $240million and $300million, when he was at his peak of his career and very successful."

Weinstein's New York rape case being retried will certainly impact his finances more negatively after already paying millions in attorney fees for the New York conviction and a California conviction for charges of rape, forced oral copulation, and third-degree sexual misconduct.

It comes after the New York Court of Appeals decided to overturn the convictions based on "egregious errors" made by the judge who initially presided over the case.

"Defendant was convicted by a jury for various sexual crimes against three named complainants and, on appeal, claims that he was judged, not on the conduct for which he was indicted, but on irrelevant, prejudicial, and untested allegations of prior bad acts," read the verdict.

It continued, "We conclude that the trial court erroneously admitted testimony of uncharged, alleged prior sexual acts against persons other than the complainants of the underlying crimes because that testimony served no material non-propensity purpose. ….The remedy for these egregious errors is a new trial."

Despite the verdict for a retrial, Weinstein currently remains in jail due to the California conviction, which came with a 16-year sentence that must be served separately from the one in New York.

According to Bonjean Law Group attorney Jennifer Bonjean, who is representing him for his California appeal, she believes Weinstein's New York retrial verdict will have a ripple effect on his California appeal.

"The impact (on the Los Angeles trial) is massive," she told the publication. 'The entire trial was tainted from jump street because this jury was fully aware of New York convictions that are no longer valid."

Bojean also shared that her client was also "considering other avenues" since his California appeal brief isn't due until May 20.

Meanwhile, experts have speculated that even if Weinstein gets rid of both the New York and California cases in the long run, it would be difficult for him to work with the best in the industry.

“Hollywood is fickle. It's certainly not out of the question that he could resurrect himself and grow his name, image and likeness values back again," Equity Development Systems exec  Steven Siegler told the news outlet.

He added, "But I don't know that he would ever work again with the likes of Class A talent like a Scorsese or Spielberg. Would you want to go have lunch with him on Rodeo Drive and be seen in public?"

Before his convictions, Weinstein was one of the kingmakers in Hollywood, having a litany of Oscar-winning films in his repertoire. Altogether, his bankrupt firm, The Weinstein Company, has produced or distributed movies that have received 341 nods, winning 81 out of them.

Weinstein, upon his return to Rikers Island on Friday, was reportedly moved to Bellevue Hospital in Manhattan due to health challenges.

His lawyer, Arthur Aidala, said that Weinstein was "examined" on his return to jail and then sent to the hospital.

"They examined him and sent him to Bellevue. It seems like he needs a lot of help, physically," Aidala said, per the DailyMail. "He's got a lot of problems. He's getting all kinds of tests. He's somewhat of a train wreck health-wise."

Aidala emphasized that Weinstien's ailments are "physical" and that he is mentally "sharp as a tack" and has "feet firmly planted on the ground."