Infowars founder Alex Jones speaks after appearing at his Sandy Hook defamation trial in Waterbury
Reuters

KEY POINTS

  • A jury awarded $965 million in compensatory damages to Sandy Hook families in the defamation case against Alex Jones
  • Jones claimed in August that a jury award of just $2 million would destroy him financially
  • An economist estimated Jones has a net worth of between $135 million and $270 million

Alex Jones could be "broke for the rest of his life" after the far-right talk show host was ordered to pay nearly $1 billion in compensatory damages to Sandy Hook families in their defamation lawsuit against him.

On Wednesday, a jury in Connecticut ordered Jones to pay $965 million in compensatory damages to the families who suffered due to his false claim that the 2012 Sandy Hook elementary school shooting never happened, and that the grieving families seen in the news were just actors hired by the government as part of a plot to restrict Americans' access to guns, CNN reported.

The "Infowars" host, who was not in the courtroom but was streaming live when the decision was read in court Wednesday, said that he will appeal the decision and that he does not have money to pay the families nearly $1 billion.

The Wednesday ruling came after a judgment against Jones in August awarded $49.3 million to the family of a Sandy Hook victim in a separate case in Texas.

Jones earlier claimed that a $2.5 million judgment would wipe him out financially, implying his total net worth was not more than $2 million. However, his claim doesn't exactly line up with his earnings history.

According to economist Bernard Pettingill Jr., who testified before the court in August, Jones has a net worth of between $135 million and $270 million, CNN reported.

Pettingill, who examined several years of records for Jones and "Infowars'" parent Free Speech Systems, said that Jones used a series of shell companies to hide his money.

Jones also used two large loans to make it appear he was broke when he was not, the economist testified.

"Alex Jones knows where the money is, he knows where that money went and he knows that he is going to eventually benefit by that money," Pettingill said at the time.

When asked by one of the jurors about the difference between Jones' money and his company's money, Pettingill explained, "You cannot separate Alex Jones from the companies. He is the companies."

At the defamation trial, it was revealed that between 2015 and 2022, Jones' primary company Infowars, which he founded in 1999, averaged $53.2 million in gross revenue. Celebrity Net Worth suggested that Jones has likely so far earned over $100 million from Infowars alone.

According to Free Speech System's July bankruptcy filing, Jones' holding company paid $62 million in "member draws" in 2021 and 2022. The same filing also claimed that Jones is the only member of the LLC, meaning that those $62 million worth of draws solely went to Jones.

Between 2018 and 2021 alone, Alex drew $18 million in dividends and income from Free Speech Systems, court filings showed.

Another court filing reportedly showed that Jones' conglomerate of companies generated $76 million in gross revenue in 2019, with most of the amount coming from merchandise sales.

In addition, Jones reportedly earned $800,000 per day during the 2018 Conservative Political Action Conference. Separate court filings also showed that he has spent $15 million on legal expenses in recent years.

Jones currently lives in a $2.5 million mansion located within a gated community in Austin, Texas.

Harry Litman, a former U.S. Attorney, said he believes Jones is almost certainly ruined financially.

"We're talking about such outsized numbers that even if he's able to bob and weave some, I just don't see how he winds up anything but basically broke now for the rest of his life," Litman said in an interview Tuesday with MSNBC.

Alex Jones, host of Infowars, at a November 2020 rally in Atlanta, Georgia
AFP