Lavish Life of Nick Denton Despite of Bankruptcy
Filing a bankruptcy doesn't stop Nick Denton on having a lavish lifestyle. Despite of this case it wont stop him from living the life.
The Gawker founder, who filed for personal bankruptcy in August after being held liable in a $125 million lawsuit with Hulk Hogan, still provides his husband with a $1,550 monthly allowance and spends nearly $2,400 on clothes and food, according to bankruptcy filings.
Documents show Nick Denton started the month with $124,899.04 in cash and had a monthly income of $19,404. He spent $14,721.62 on his mortgage payment, $4,400 on his rental payment, $950 on housekeeping, $178 on utilities, $258 for transportation, $3,878 on real-estate taxes, $7,046.14 on repairs and maintenance, $414 on entertainment and $245 on personal care. His cash flow for the month came to negative $16,620.
His financial trouble had occurred after a lawsuit that was filed by Hogan against Gawker wherein Denton and ex-Gawker employee AJ Daulerio for publishing a sex tape of Hogan and his wife if his former bestfriend, radio shock jock Bubba the Love Sponge Clem.
Nick Denton is the founder of Gawker Media LLC and had filed for chapter 11 protection at the US Bankruptcy Court in New York. By doing this, it will automatically freeze any legal action against him and to prevent Terry Bollea also known as the Hulk Hogan, a wrestler, from collecting $140 million invasion of privacy judgement a jury awarded this year. The said judgement, which was appealed led Gawker to file for bankruptcy last June.
Nick Denton is said to be personally liable of $10 million of the $140 million judgement and jointly liable along with former Gawker employee AJ Daulerio, fr another $115 million which then Denton said he cant afford to pay the said damages.
He said that his only two assets are his 30% stake in Gawker and an apartment in Manhattan which he listed as a combined value of less than $50 million.