“He’s so rich that his longtime housekeeper, to whom he gave stock in a company he was starting, is now a millionaire herself,” the Los Angeles Times wrote in 1999. “She’s about to get a housekeeper of her own.”
DigitallySound on
TLDR: Gary Winnick, protégé of the former junk-bond king Milken had amassed an estimated $6.2 billion fortune, ranking him once the richest man in L.A.
But since Gary Winnick’s death at 76 in 2023, a very different financial picture has come to light. Turns out he was severely strapped for cash and deeply in debt. His 79-year-old widow, Karen Winnick, is now fighting to keep control of their homes, art and jewelry, all of which Gary put up as collateral against a massive loan.
Article basically says don’t judge book by cover and many of the wealthiest are just that on paper and borrow to live their perceived lavish lifestyles.
maniaduck on
Don’t even need to read the article, he stayed in California 😂
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WSJ is a good newspaper but no chance I’m giving Murdoch one penny.
Paywall sigh
Someone, tldr please:
https://archive.is/2025.12.22-111910/https://www.wsj.com/real-estate/luxury-homes/gary-winnick-global-crossing-77595ea6
“He’s so rich that his longtime housekeeper, to whom he gave stock in a company he was starting, is now a millionaire herself,” the Los Angeles Times wrote in 1999. “She’s about to get a housekeeper of her own.”
TLDR: Gary Winnick, protégé of the former junk-bond king Milken had amassed an estimated $6.2 billion fortune, ranking him once the richest man in L.A.
But since Gary Winnick’s death at 76 in 2023, a very different financial picture has come to light. Turns out he was severely strapped for cash and deeply in debt. His 79-year-old widow, Karen Winnick, is now fighting to keep control of their homes, art and jewelry, all of which Gary put up as collateral against a massive loan.
Article basically says don’t judge book by cover and many of the wealthiest are just that on paper and borrow to live their perceived lavish lifestyles.
Don’t even need to read the article, he stayed in California 😂