Introduction
Michael Peterson’s name is infamous for the bloody murder of his wife, Kathleen Peterson, in 2001. After a long and complicated trial, Michael Peterson walked away free in 2017, but there was always a question regarding the Peterson family’s financial situation. What is Michael Peterson’s net worth? How does he earn money? What is the value of his assets? With the last episode of “The Staircase” documentary series, these questions were finally answered. In this blog post, we will dive into Michael Peterson’s secret fortune and reveal the truth behind his financial status.
Section 1: Michael Peterson’s Net Worth
Michael Peterson’s net worth has always been a mystery. Still, through researching his assets and financial earnings, it is estimated that Michael Peterson’s net worth is around $2 million. This value includes the property value, his paid legal fees, the royalties from his books, and the payout from the documentary series.
Section 2: Property Valuation
Michael Peterson owned a 9,000-square-foot mansion on Cedar Street in Durham, worth around $1.3 million. He also had a 20-acre ranch in Durham with an estimated value of $400,000. Furthermore, Peterson had an apartment in Paris that he valued at $600,000.
Section 3: Legal Fees
The legal battle for Michael Peterson was long and challenging, spanning several decades. Peterson’s legal fees have been estimated to be around $1.5 million. These fees covered the trial, the appeals, and the documentary production. Although expensive, he was fortunately able to pay the absurd amount through his net worth.
Section 4: Royalties from Books
Michael Peterson also authored several books about the tragedy, including “The Staircase” novels. Although Michael denied writing these books for the sake of profit, the books have undoubtedly generated a significant revenue of more than $200,000.
Section 5: Royalties from Documentary Series
The success of the documentary series “The Staircase” further spurred Michael Peterson’s financial fortune. The series premiered on Netflix in 2018 with a payout to Peterson of $200,000. That being said, his reputation and name were significantly damaged by the documentary.
Section 6: Life Insurance Policies
Kathleen Peterson’s death resulted in life insurance policies for Michael and her estate. The prosecution had raised concerns about these payouts during the trial, but they were ultimately proven to bear no relevance. While the purpose of the policies was to provide financial security for their children in the event of their demise, they were not explicitly mentioned in Michael Peterson’s net worth.
Section 7: Credit Cards and Debts
Michael Peterson had over $100,000 in credit card debt, likely from the extensive legal fees and property upkeep. The amount of debt seems relatively insignificant compared to Peterson’s net worth and assets, but still important to mention.
Section 8: Other Sources of Income
Besides the various sources mentioned previously, Michael Peterson’s finances remain relatively unknown. The majority of Michael Peterson’s fortune stems from the previously mentioned sources, suggesting that he relied on other means, such as investments, as supplementary income.
Conclusion
It is unsettling to see a man with a history like Michael Peterson have a vast amount of wealth. The various sources mentioned in this post reveal that Peterson had a net worth of around $2 million. The net worth includes his property, legal fees, royalties from books/documentaries, and additional sources of income. The figure reveals that despite being incriminated in his wife’s death, Peterson was still able to maintain his financial comfortability.
FAQs
1. How much money did Michael Peterson earn from “The Staircase” documentary series?
Michael Peterson received $200,000 in payment for the documentary series.
2. Did Kathleen Peterson have any life insurance policies?
Yes, Michael and Kathleen Peterson had life insurance policies that were taken out before Kathleen’s death.
3. What kind of property did Michael Peterson own?
Michael Peterson owned a 9,000-square-foot mansion, a 20-acre ranch, and an apartment in Paris.
4. How did Michael Peterson make a living?
Michael Peterson earned money through royalties from his books and the documentary series, his property, and other supplementary sources.
5. Did Michael Peterson have any debt?
Michael Peterson had over $100,000 in credit card debt.